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A crypto Index provides a way for investors to gain diversified exposure to a specific basket of digital assets through a single tokenized product. These indices often track specific sectors, such as DeFi, DePIN, or RWA, and are automatically rebalanced via smart contracts. In 2026, AI-managed thematic indices have become the gold standard for passive investing, allowing users to track the "blue chips" of the Web3 economy without manual portfolio management. This tag covers index methodology, rebalancing frequency, and the benefits of diversified crypto baskets.

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Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
List of 20 Altcoins with the Highest Number of Active Users in the Last Week Published

List of 20 Altcoins with the Highest Number of Active Users in the Last Week Published

The post List of 20 Altcoins with the Highest Number of Active Users in the Last Week Published appeared on BitcoinEthereumNews.com. The most popular projects in the cryptocurrency market, based on weekly active user numbers, have been revealed. The list includes both layer-1 and layer-2 blockchains, decentralized exchanges (DEXs), and infrastructure projects. The 20 projects with the most weekly active users, the number of developers, and the change in this number compared to the previous period are listed as follows: BNB Chain (BNB) – 15.9 million (+8.6%) NEAR Protocol (NEAR) – 14.7 million (-8.2%) Solana (SOL) – 12.8 million (-11.4%) Tron (TRX) – 6.0 million (0.0%) Base – 5.5 million (-28.9%) opBNB – 5.1 million (+2.7%) Aptos (APT) – 3.8 million (+25.0%) Jito (JTO) – 3.1 million (-30.4%) Uniswap (UNI) – 3.0 million (-28.5%) Raydium (RAY) – 3.0 million (-52.9%) Bitcoin (BTC) – 2.7 million (-7.9%) Ethereum (ETH) – 2.6 million (-17.9%) Polygon (POL) – 2.5 million (-1.5%) World Mobile Chain (WMTX) – 2.2 million (+4.6%) PancakeSwap (CAKE) – 1.5 million (+10.5%) Arbitrum One (ARB) – 1.5 million (+10.8%) Celo (CELO) – 887.5 thousand (+9.5%) Meteora – 792.5 thousand (+71.3%) Gravity Alpha Mainnet (G) – 623.5 thousand (+1.3%) pump.fun (PUMP) – 543.9 thousand (+78.4%) BNB Chain topped the list with 15.9 million weekly active users, followed by NEAR Protocol with 14.7 million and Solana with 12.8 million. Meanwhile, the most notable increases in user numbers were seen in pump.fun (78.4%) and Meteora (71.3%). *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/list-of-20-altcoins-with-the-highest-number-of-active-users-in-the-last-week-published/

Author: BitcoinEthereumNews

2025/09/04

Solana Chain Carnival: Can Pump.fun's CCM Reshape the Creator Economy?

Solana Chain Carnival: Can Pump.fun's CCM Reshape the Creator Economy?

Yesterday, the Solana chain was quite lively. First, $CARD and $ZARD led the on-chain RWA craze for Pokémon cards, and then the well-known KOL HIM led the CS2 skin market $HUCH, and the market value also soared. It seems that the concept of ICM is gaining momentum on Solana. At the same time, PumpFun released a version update video, launched Project Ascend and Dynamic Fees V1, and proposed a new concept Creator Capital Markets (CCM). At first glance, it seems that the product ideas of Heaven and Bags are not much different from those of some time ago. This also triggered the return of a number of project developers, including the long-banned Memecoin trader Mitch, who launched his own live-streaming token on Pumpfun, which saw its market value exceed $42 million within three hours. This series of activity led to a general rise in other live-streaming tokens, while Pumpfun's token creation and graduation rates both increased by over 40%. Pumpfun’s ambition this time seems to be not just to have ICM, but to use the concept of CCM to make pumpfun a more extreme version of Twitch. Project Ascend Innovation According to an official announcement from Pump.fun, the core change introduced by Project Ascend is the Dynamic Fees V1 system. This new tiered creator fee structure radically changes the previous fixed-rate model. Under the previous system, creators received the same percentage of transaction fees regardless of their token's market capitalization. Now, the system introduces a dynamic fee rate tied to market capitalization—tokens with higher market capitalization receive lower creator fees, while smaller projects continue to contribute higher fees. The rationale behind this design is to encourage creators to focus on the long-term growth of their tokens, rather than short-term cashing out. PumpSwap transaction fees and content creator earnings for tokens with different market capitalizations Officials claim that this update increases creators' potential earnings tenfold. For creators who successfully manage the token ecosystem, this means they no longer need to sell their holdings to profit, instead earning a steady income through a consistent share of transaction fees. This paradigm shift is a key step in Pump.fun's efforts to address the widespread "pump and dump" problem within the memecoin ecosystem. Dynamic Fees V1 applies to all PumpSwap tokens, both newly issued and existing, while maintaining the same protocol and liquidity provider fee distribution. For "abandoned" projects whose creators have vanished, fees will flow to the community. CTO projects can apply to receive creator fees, and Pump.fun promises a significantly faster approval process. Mitch's Return: A Small-Town Story from Broke to Millionaire After Pump.fun announced its update, the first major returnee was Mitch (@MitchOnSOL_), a legendary trader who was banned multiple times by Platform X. His story is well-known in the Solana memecoin community. He entered the crypto space in 2022 and initially profited through contract trading, but lost nearly all his funds due to an addiction to online blackjack. By 2023, he had only 1 SOL left, but he achieved a 100x return by buying Milady. He then invested in popular memecoins like Retardio, pushing his assets to a peak of $8 million. Mitch's success is as notable as his controversial nature within the community. Community members like TMtheOG accused him of being an "insider" of the Pump.fun team, claiming he laundered millions of dollars through soft rug pulls, leading to his official ban from X. However, supporters like imperooterxbt defended him, arguing that he was one of the few influencers who openly purchased high-market-cap tokens and promoted them like a regular community member, rather than solely promoting insider projects he held. The reason for his ban was extortion from X. While this was only Mitch's side of the story, some supportive community members still voiced their support, chanting "Free Mitch." This time, Mitch launched his own creator coin, $MITCH. He personally purchased 80% of the supply, stating that neither he would lock it up nor sell it, but would only give it away in future livestreams, with only 20% ultimately entering circulation. In his announcement, he emphasized that this wasn't a charity, but rather a "personal experiment for fun." However, the striking $24 million in his address, God.SOL, made this experiment truly "entertaining" for him. MITCH quickly launched MOONSHOT after its launch, which also allowed its market value to exceed 42 million US dollars in a short period of time. However, if calculated based on the "circulating market value", the highest market value was only about 8.4 million US dollars. Rasmr's Livestreaming Empire: From Researcher to Memecoin Influencer Equally garnering attention alongside Mitch is blockchain researcher rasmr_eth (@rasmr_eth). As a core member of the probablynothing community, he joins well-known streamer ThreadGuy, former DEGODS founder Frank Degod, and OGshoots. Some of these individuals form an insider group known as the "Hookah Gang." They have issued numerous high-market-cap tokens, many of which are soft-coins, a source of controversy. Rasmr has been active in the crypto space since 2011 and currently has over 117,000 followers. His influence lies not only in his research and analysis, but also in the unique community culture he has built through live streaming. Rasmr has called other creators during live broadcasts to discuss memecoin opportunities (sometimes with insider information), and these "classic meme moments" often become hot topics in the community. He streams on his Twitch channel and pumpfun, covering trading demonstrations, blockchain discussions, and even livestreams of games like Path of Exile 2. His posts demonstrate a strong sense of community, and he often engages in memecoin fervor, from taking Muard out on the street to force-sell Chillhouse to people, to visiting traditional fund companies to promote Fartcoin. While quite nonsensical, it does, in some ways, introduce more people to memecoins. The live broadcast token $rasmr he previously launched currently has a market value fluctuating between 5 and 7 million US dollars, and he also holds 80% of the token. Old School Trader Gainzy Gainzy started to get involved in crypto during the 2017 crypto bull market. At that time, he participated in multiple projects that allowed him to obtain a 10-fold return on his assets. However, with the collapse of FTX, he eventually lost most of his assets due to the bankruptcy of the platform. He considers the "hellish" experience of the 2018-2019 bear market trough a valuable lesson, often sharing it in his livestreams as CT history (Crypto Twitter History). He began by scalping, excelling at profiting in volatile markets. He believes that long-term holdings are generally risky due to the influence of the DXY (US Dollar Index), bond yields, and Federal Reserve announcements, which is why he also enjoys trading Memecoins. He represents a different approach to livestreaming. Compared to other streamers, he's more of a "boomer" (old-school) type. His livestreams are pretty regular, starting at 10 a.m. every day, sometimes for a few minutes, sometimes for hours, just like a regular workday. Sometimes he shares technical analysis and trading strategies, sometimes he discusses the market, and sometimes he just gambles with friends or shares his personal life. He self-deprecatingly calls himself "Washed," saying most of his followers come from the early cycle (2017-2022), when algorithms were unfavorable to new traffic. He emphasized the essence of the streamer identity: "Most are destined to fail (NPCs or boring people), and only a few main characters can stand out." Interestingly, although he issued his own live streaming token, he distanced himself from others' live streaming tokens. He stated that while he recognizes their potential, in this sector, content quality is far more important than short-term profit. The price of his token GNZYSTRM has been rising steadily since it was launched in April, basically fluctuating between 2 million and 5 million market capitalization. BASEDD BASEDD was launched by Jacky and others in early 2024, initially focusing on NFT and memecoin projects in the Solana ecosystem. By 2025, it evolved into "BASEDD House", a content creation center focused on physical and virtual. In March 2025, they announced the Summer Content House program, selecting 7 creators through a "talent show" series, focusing on short videos, live broadcasts, vlogs, and cross-platform activations (such as Twitch, YouTube, Pump.fun). The program aims to break the "CT echo chamber" (Crypto Twitter echo chamber) and provide a viral content environment. In August and September 2025, the community entered Season 2 and relocated from Las Vegas to Los Angeles, becoming deeply involved in the explosive growth of the Pump.fun live streaming track. Currently, the market capitalization of its community token, $BASEDD, remains between $2 million and $5 million. While the community already has a token, several members also have their own "livestreaming tokens." GOON, run by @nevergoon100, for example, takes a more entertaining approach. GOON's livestreams are often filled with absurd and dramatic elements. While this style has been controversial, it has successfully attracted the attention of many young investors. Goon gave a child $200 worth of memecoin $USDUC during a live broadcast and asked him to download pumpfun Is CCM an innovation or just another speculation? The concept of Content Creator Markets (CCM) marks Pump.fun's attempt to build a radical new creator economy model. Unlike traditional content creation or livestreaming platforms like Twitch, CCM allows creators' influence to be directly represented and traded through tokens. Viewers no longer rely solely on tips or subscriptions to support creators; instead, they can share in the benefits of their success by purchasing tokens. However, this isn't PumpFun's first attempt at this. Since its introduction in late 2024, Pump.fun's livestreaming feature has been controversial for its lack of regulation, allowing users to post inappropriate content (drug use, pornography, and extreme behavior). This has led to significant speculation and potential market manipulation, resulting in significant losses for many participants. Maintaining market order while encouraging innovation has become Pump.fun's biggest challenge. The community's reaction to CCM was sharply divided. Threadguy, in his post, argued that the era of "influence being directly exchanged for money" had arrived. However, a significant number of critics argued that this was just another speculative bubble, with retail investors ultimately the victims. Is this Pump.fun update a significant step forward in the evolution of the memecoin ecosystem, or another bubble about to burst? The answer will likely be determined by the market and time. But what is certain is that in the world of Web3, the relationship between creators and supporters is being redefined.

Author: PANews

2025/09/04

Bitcoin’s $124k Rally and the Rise of Utility

Bitcoin’s $124k Rally and the Rise of Utility

The post Bitcoin’s $124k Rally and the Rise of Utility appeared on BitcoinEthereumNews.com. Bitcoin has stormed back in 2025, hitting a new all-time high of over $124,000 in August after a turbulent start to the year. The rally is more than a speculative rebound. It is the manifestation of crypto’s long-promised integration into the global financial system. But unlike earlier cycles, this rally is not lifting the entire market. Investors are now rewarding utility and the CoinDesk 20 Index is emerging as the benchmark for separating signal from noise. Institutions are all-in Physical bitcoin exchange traded products (ETPs) pulled in nearly $38 billion over the past year, pushing global AUM beyond $165 billion. Hedge funds are exploiting basis trades, corporates are stockpiling bitcoin and the U.S. has gone as far as creating a strategic bitcoin reserve. At the same time, liquidity and infrastructure have transformed. Per Glassnode, CME-listed futures now cover bitcoin, ether, SOL and XRP, while bitcoin options open interest has topped $50 billion. Bitcoin has never looked more institutional. Macro tailwind Trump’s second-term tax cuts and a U.S. debt pile north of $34 trillion have investors bracing for dollar debasement. Global reserve managers are hedging with gold and alternatives. Bitcoin’s scarcity and neutrality make it the obvious complement. Our model places bitcoin at $250,000 by 2030 under base-case monetary expansion assumptions.. If fiscal policy turns more reckless, that upside could accelerate. Altcoins face a reality check Crucially, this bull cycle is no longer about a rising tide lifting all boats. Investors are rewarding protocols that deliver real-world impact. Solana has evolved into the leading consumer-grade blockchain. Ethereum has formed as the institutional backbone of on-chain finance. XRP, armed with legal clarity, is cementing itself as a low-cost, high-speed settlement layer for cross-border finance. The market is finally demanding fundamentals, and projects without substance are fading into irrelevance. CoinDesk 20: investible core…

Author: BitcoinEthereumNews

2025/09/04

Crypto Adoption 2025: India, US, And Pakistan Secure Top 3 Spots In Global Index

Crypto Adoption 2025: India, US, And Pakistan Secure Top 3 Spots In Global Index

In its 2025 edition of the Global Crypto Adoption Index, Chainalysis outlined the leading countries driving cryptocurrency adoption worldwide. The Asia-Pacific (APAC) region once again stood out, cementing its role as the global hub of grassroots crypto activity. India, US, Pakistan Lead Crypto Adoption According to the report, India, Pakistan, and Vietnam emerged as the […]

Author: Bitcoinist

2025/09/04

US Second In Crypto Adoption On ETFs, Regulatory Clarity: Chainalysis

US Second In Crypto Adoption On ETFs, Regulatory Clarity: Chainalysis

The post US Second In Crypto Adoption On ETFs, Regulatory Clarity: Chainalysis appeared on BitcoinEthereumNews.com. Regulatory momentum in Washington and crypto exchange-traded funds have pushed the US up two spots into second place for crypto adoption, according to Chainalysis. The US trailed only India, which maintained the top spot for the third year in a row, and contributed to the Asia Pacific region being crowned the fastest-growing between July 2024 and June 2025, Chainalysis said in its 2025 Global Adoption Index published on Wednesday. Chainalysis chief economist Kim Grauer told Cointelegraph that crypto adoption is mostly accelerating in mature markets with clearer rules and institutional rails, and in emerging markets where stablecoins are transforming how people manage money. “The biggest driver of this adoption is utility: whether it’s stablecoins used for remittances, savings in inflation-prone economies, or decentralized apps meeting local needs, people adopt crypto when it solves real problems.” Pakistan was one of the biggest movers, climbing six spots to third place, while Vietnam and Brazil rounded out the top five.  Nigeria dropped from second to sixth place despite making some regulatory progress over the past year, while Indonesia, Ukraine, the Philippines and Russia filled out the top 10. The overall rankings factored in four subindexes, which assessed the crypto value received from retail and institutions through centralized and decentralized services. Top 20 countries in overall crypto adoption. Source: Chainalysis US rises to second on ETF adoption, clearer rules The US rose from fourth in Chainalysis’ last report to second place, sparked by increased spot Bitcoin (BTC) ETF adoption and clearer regulations that legitimized crypto’s role in traditional finance.  “Regulatory clarity is particularly important for large corporates and traditional financial institutions, for whom compliance, legal and reputational considerations tend to rank highly,” Grauer said. Farside Investors data shows that the US spot Bitcoin ETFs have taken in $54.5 billion worth of inflows since launching…

Author: BitcoinEthereumNews

2025/09/04

Expert Analyst Claims Bitcoin Will “First Fall to $100,000,” Then Shares What They Expect Next

Expert Analyst Claims Bitcoin Will “First Fall to $100,000,” Then Shares What They Expect Next

The post Expert Analyst Claims Bitcoin Will “First Fall to $100,000,” Then Shares What They Expect Next appeared on BitcoinEthereumNews.com. Cryptocurrency analyst Joao Wedson shared a remarkable assessment stating that Bitcoin may enter a critical period in the coming period. According to Wedson, a cyclical formation they pointed out in 2024 could be completed in October 2025, marking the end of an important phase in Bitcoin’s history. Wedson suggested that if this cycle is confirmed, Bitcoin could quickly drop to the $100,000 level and then surge above $140,000. However, the analyst added that relying solely on technical fractal analysis is risky. One of the most critical points of the analysis is how the market will be affected by institutional demand, ETF speculation, and political developments. Wedson particularly highlighted Elon Musk’s comment that “Trump could trigger a bear market in the last quarter of 2025.” As you may recall, Musk had previously shared a post hinting at Bitcoin’s $69,000 peak in 2021 months ago. “Is the 4-year cycle over and Bitcoin entering an endless uptrend, as new crypto investors claim, or is 2025 the last gasp before a sharp correction? We shouldn’t rule out the possibility of prices falling below $50,000 in 2026,” Wedson said. The analyst concluded his comment by stating that all these scenarios are merely theoretical, saying, “Perhaps only Satoshi Nakamoto knows what will actually happen.” *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/expert-analyst-claims-bitcoin-will-first-fall-to-100000-then-shares-what-they-expect-next/

Author: BitcoinEthereumNews

2025/09/04

Chainlink Partners With PublicAI as LINK Price Targets $47 Breakout Move

Chainlink Partners With PublicAI as LINK Price Targets $47 Breakout Move

Chainlink (LINK) has partnered with PublicAI as part of its BUILD program for AI-powered prediction markets and reputation systems. PublicAI’s Data Hub includes over 2.9 million verified contributors. Analysts note that LINK is holding support at $23, with resistance expected around $31. At the time of writing, LINK is trading at $23.75 with a 24-hour […]

Author: Tronweekly

2025/09/04

Ark Invest: The Birth of a DeFi Super App

Ark Invest: The Birth of a DeFi Super App

By Lorenzo Valente As the crypto market matures, investors are looking for clues from past tech booms to predict the next big trend or inflection point. Historically, digital assets have been difficult to compare to previous technology cycles, making it difficult for users, developers, and investors to predict their long-term trajectory. This dynamic is changing. According to our research, the “application layer” in the crypto space is evolving, much like the unbundling and rebundling cycles experienced by SaaS (Software as a Service) and FinTech platforms. In this article, I’ll describe how the unbundling and rebundling cycle seen in SaaS and Fintech plays out in DeFi (decentralized finance) and crypto applications. The pattern evolves as follows: The concept of "Composability" is key to understanding the unbundling and rebundling cycle. This is an analytical term used in the fintech and crypto communities to refer to the ability of financial or decentralized applications and services—particularly at the application layer—to seamlessly interact, integrate, and build upon each other like Lego blocks. With this concept at the core, we describe the shift in product structure in the following two subsections. From Verticalization to Modularization: The Great Unbundling In 2010, Spark Capital’s Andrew Parker published a blog post outlining how dozens of startups were capitalizing on the unbundling opportunity presented by Craigslist, the then-horizontal internet marketplace offering everything from apartments and gig work to merchandise sales, as shown in the image below. Source: Parker 2010. For illustrative purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any specific security. Parker concludes that many successful companies—Airbnb, Uber, GitHub, Lyft—started by focusing on and verticalizing a small part of Craigslist's broad functionality and dramatically improving it. This trend ushered in the first major phase of "marketplace unbundling," during which Craigslist's fully bundled, multi-purpose marketplace gave way to single-purpose apps. The newcomers didn't just improve Craigslist's user experience (UX)—they redefined it. In other words, unbundling broke a broad-based platform into narrowly defined, autonomous verticals, disrupting Craigslist by serving users in unique ways. What made that wave of unbundling possible? Fundamental shifts in technology infrastructure, including advances in APIs (application programming interfaces), cloud computing, mobile user experiences, and embedded payments, lowered the barrier to entry for building focused applications with world-class user experiences. The same unbundling is also evolving in the banking industry. For decades, banks have offered a bundled set of financial services—everything from savings and loans to insurance—under a single brand and app. However, over the past decade, fintech startups have been precisely dismantling this bundle, each focusing on a specific vertical. Traditional banking bundles include: Payments and Remittances Checking and savings accounts Interest-bearing products Budgeting and financial planning Loans and Credit Investment and wealth management Insurance Credit and debit cards Over the past decade, the banking bundle has systematically unbundled into a series of venture-backed fintech companies, many of which are now unicorns, decacorns, or near-centacorns: Payments and remittances: PayPal, Venmo, Revolut, Stripe Bank accounts: Chime, N26, Monzo, SoFi Savings and Earnings: Marcus, Ally Bank Personal finance and budgeting: Mint, Truebill, Plum Loans and credit: Klarna, Upstart, Cash App, Affirm Investing and Wealth Management: Robinhood, eToro, Coinbase Insurance: Lemonade, Root, Hippo Card and expense management: Brex, Ramp, Marqeta Each company focuses on a service it can hone and deliver better than the incumbent, combining its skill set with new technology levers and distribution models to offer growth-oriented niche financial services in a modular manner. In both SaaS and FinTech, unbundling is not only disrupting incumbents but also creating entirely new categories, ultimately expanding the total addressable market (TAM). From modularity back to bundling: The Great Rebundling Airbnb recently launched its new Services & Experiences app and redesigned it to allow users to not only book accommodations but also explore and purchase add-on services such as museum visits, food tours, dining experiences, gallery walks, fitness classes, and beauty treatments. Airbnb, once a peer-to-peer accommodations marketplace, is evolving into a vacation superapp—rebundling travel, lifestyle, and local services into a single, cohesive platform. Furthermore, over the past two years, the company has expanded its product offerings beyond home rentals and is now integrating payments, travel insurance, local guides, concierge-style tools, and curated experiences into its core booking service. Robinhood is undergoing a similar transformation. The company, which disrupted the brokerage industry with commission-free stock trading, is now aggressively expanding into a full-stack financial platform and is re-bundling many of the verticals previously unbundled by fintech startups. Over the past two years, Robinhood has: Launch of payment and cash management features (Robinhood Cash Card) Increase cryptocurrency trading Launch of retirement accounts Launch of margin investing and credit cards Acquired Pluto, an AI-powered research and wealth advisory platform The moves suggest that Robinhood, like Airbnb, is bundling together previously fragmented services to build a comprehensive financial super app. By controlling more of the financial stack—savings, investing, payments, lending, and advice—Robinhood is reinventing itself from a brokerage to a full-service consumer finance platform. Our research shows that this unbundling and rebundling dynamic is impacting the crypto industry. In the remainder of this article, we provide two case studies: Uniswap and Aave. DeFi’s Unbundling and Rebundling Cycle: Two Case Studies Case Study 1: Uniswap — From Monolithic AMM to Liquidity Lego and Back to a Trading Super App In 2018, Uniswap launched on Ethereum as a simple yet revolutionary automated market maker (AMM). In its early stages, Uniswap was a vertically integrated application: a small smart contract codebase with an official frontend hosted by its team. The core AMM functionality—swapping ERC-20 tokens in a constant product pool—existed within a single on-chain protocol. Users primarily accessed it through Uniswap's own web interface. This design proved highly successful, with Uniswap's cumulative on-chain trading volume exploding to over $1.5 trillion by mid-2023. With its tightly controlled technology stack, Uniswap provided a smooth user experience for token swaps, which guided the development of DeFi in its early days. At the time, Uniswap v1/v2 implemented all trading logic on-chain, requiring no external price oracles or off-chain order books. The protocol internally determined prices within a closed system, using its liquidity pool reserves (the x*y=k formula). The Uniswap team developed the primary user interface (app.uniswap.org) to interact directly with the Uniswap contracts. Early on, most users accessed Uniswap through this dedicated front-end, similar to a proprietary exchange portal. Beyond Ethereum itself, Uniswap does not rely on any other infrastructure. Liquidity providers and traders interact directly with Uniswap contracts, with no built-in external data feeds or plugin hooks. The system was simple but isolated. As DeFi expanded, Uniswap evolved into a composable liquidity "Lego" rather than a standalone application. The protocol's open, permissionless nature meant other projects could integrate Uniswap's pools and add layers. Uniswap Labs gradually relinquished control over parts of the stack, allowing external infrastructure and community-built features to play a greater role: Decentralized Exchange (DEX) Aggregators and Wallet Integrations: The majority of Uniswap's trading volume began flowing through external aggregators like the 0x API and 1inch, rather than through Uniswap's own interface. By the end of 2022, an estimated 85% of Uniswap's swap volume was routed through aggregators like 1inch as users sought the best prices across multiple exchanges. Wallets like MetaMask also integrated Uniswap liquidity into their swap functionality, allowing users to trade on Uniswap from their wallet applications. This external routing reduced reliance on Uniswap's native frontend and made AMMs more like a plug-and-play module in the DeFi stack. Oracles and Data Indexers: While Uniswap's contracts did not and still do not require price oracles to trade, the broader ecosystem built around Uniswap does. Other protocols use Uniswap's pool prices as on-chain oracles, and the Uniswap interface itself relies on external indexing services. For example, Uniswap's frontend uses subgraphs from The Graph to query pool data off-chain for a smoother user interface (UI) experience. Rather than building its own indexing nodes, Uniswap leverages community-driven data infrastructure—a modular approach that offloads the heavy lifting of data queries to specialized indexers. Multi-chain Deployment: During its modularization phase, Uniswap expanded beyond Ethereum to numerous blockchains and Rollups, including Polygon, Arbitrum, BSC, and Optimism. Uniswap's governance mandated the deployment of its core protocol on these networks, effectively treating each blockchain as a base-layer plugin for Uniswap's liquidity. This multi-chain strategy emphasizes Uniswap's composability: the protocol can exist on any Ethereum Virtual Machine (EVM)-compatible chain, rather than tying its fate to a single, vertically integrated environment. Recently, Uniswap has been moving back towards vertical integration, seemingly with the goal of capturing more of the user journey and optimizing the stack for its use cases. Key reintegration developments include: Native Mobile Wallet: In 2023, Uniswap released the Uniswap Wallet—a self-hosted mobile application—followed by a browser extension, allowing users to store tokens and interact directly with Uniswap products. The launch of the wallet was a significant step toward controlling the user interface layer, rather than ceding it to wallets like MetaMask. With its own wallet, Uniswap now vertically integrated user access, ensuring that swaps, browsing non-fungible tokens (NFTs), and other activities occurred within an environment it controlled and could potentially be routed to Uniswap liquidity. Integrated Aggregation (Uniswap X): Instead of relying on third-party aggregators to find the best prices, Uniswap also introduced Uniswap X, a built-in aggregation and trade execution layer. Using an open network of off-chain "fillers," Uniswap X sources liquidity from various AMMs and private market makers, then settles trades on-chain. As a result, Uniswap has transformed its interface into a one-stop trading portal that aggregates liquidity sources for the benefit of users—similar to the services provided by 1inch or Paraswap. By running its own aggregator protocol, Uniswap Labs has reintegrated this functionality, keeping users in-house while guaranteeing the best prices. Importantly, Uniswap X is integrated into the Uniswap web app itself—and potentially into the wallet in the future—so users no longer need to leave Uniswap for the aggregator. Application-Specific Chain (Unichain): In 2024, Uniswap announced its own Layer 2 blockchain—dubbed "Unichain"—as part of the Optimism Superchain. Taking vertical integration to the infrastructure level, Unichain is a custom rollup tailored for Uniswap and DeFi trading, aiming to reduce Uniswap user fees by approximately 95% and latency to approximately 250 milliseconds. Uniswap will control the blockchain environment in which its contracts operate, rather than operating as an application on another chain. By operating Unichain, Uniswap will be able to optimize everything from gas costs to maximum extractable value (MEV) mitigation for its exchange and introduce native protocol fee sharing with UNI holders. This full-circle transformation transforms Uniswap from an Ethereum-dependent decentralized application (dApp) to a vertically integrated platform with a proprietary UI, execution layer, and dedicated blockchain. Case Study 2: Aave — From P2P Lending Market to Multi-Chain Deployment and Back to a Credit Super App Aave's origins can be traced back to ETHLend in 2017, a self-contained lending application that gave way to a decentralized peer-to-peer lending marketplace, renamed Aave, in 2018. The team developed smart contracts for lending and provided an official web interface for user participation. During this phase, ETHLEND/Aave matched lenders and borrowers using an order book approach and handled everything from interest rate logic to loan matching. As it evolved toward a pooled lending model similar to Compound, Aave underwent vertical integration. The Aave v1 and v2 contracts on Ethereum incorporated innovations like flash loans—an in-protocol feature that allows for uncollateralized borrowing with repayments in the same transaction—as well as interest rate algorithms. Users primarily accessed the protocol through the Aave web dashboard. The protocol managed key functions, such as interest accrual and liquidations, internally, with minimal reliance on third-party services. In short, Aave's early design was a monolithic money market: a dApp with its own UI that handled deposits, loans, and liquidations in a single location. Aave is part of the broader DeFi symbiosis, integrating MakerDAO's DAI stablecoin as a key collateral and lending asset from the outset. In fact, in its incarnation as ETHLend, Aave launched simultaneously with Maker and immediately supported DAI, reflecting the tight coupling between those vertically integrated pioneers and demonstrating early on that no protocol is an island. Even in its "vertical" phase, Aave benefited from the product of another protocol—its stablecoin—to operate. As DeFi has grown, Aave has unbundled and adopted a modular architecture, outsourcing parts of its infrastructure and encouraging others to build on its platform. Several shifts illustrate Aave’s move toward composability and external dependencies: External Oracle Network: Rather than operating its own price feeds, Aave uses Chainlink's decentralized oracles to provide reliable asset prices for collateral valuation. Price oracles are crucial to any lending protocol, as they determine when loans become undercollateralized. Aave governance has selected Chainlink Price Feeds as the primary oracle source for most assets on aave.com, outsourcing pricing infrastructure to a specialized third-party network. While this modular approach improves security—for example, Chainlink aggregates many data sources—it also means Aave's stability relies on external services. Wallet and App Integration: Aave's lending pools have become the building blocks for numerous other dApp integrations. Portfolio managers and dashboards like Zapper and Zerion, DeFi automation tools like DeFi Saver, and yield optimizers all access Aave's contracts through its open software development kit (SDK). Users can deposit or borrow through third-party frontends that interface with Aave, but the official Aave interface is just one of many access points. Even DEX aggregators indirectly leverage Aave's flash loans for complex, multi-step trades executed by services like 1inch. By open-sourcing its design, Aave allows for composability: other protocols can integrate Aave's functionality—for example, using Aave flash loans within a Uniswap arbitrage bot—all coordinated by external aggregators. As a liquidity module rather than a standalone application, its composability expands Aave's influence in the DeFi ecosystem. Multi-chain deployment and isolated models: Similar to Uniswap, Aave is deployed on multiple networks—such as Polygon, Avalanche, Arbitrum, and Optimism—essentially cross-chain modularity. Aave v3 introduced features such as isolated markets for certain assets—architectural modularity—creating different risk parameters for each market, sometimes operating separately from the main pool. It also introduced permissioned variants, such as "Aave Arc" for Know Your Customer (KYC) institutions, which are conceptually independent "module instances" of Aave. These examples demonstrate Aave's flexibility to operate in a variety of environments, not just one integrated one. During this unbundling phase, Aave relies on a broader infrastructure stack: Chainlink oracles for data, The Graph for indexing, wallets and dashboards for user access, and tokens from other protocols—like Maker's DAI or Lido's staked ETH—as collateral. This modular approach increases Aave's composability and reduces the need to "reinvent the wheel." The tradeoff is a partial loss of control over those parts of the stack, and the risks associated with relying on external services. Lately, Aave has shown signs of returning to vertical integration by developing in-house versions of key components that it previously relied on others. For example, in 2023, Aave launched its own stablecoin, GHO. Historically, Aave has facilitated lending and borrowing of various assets, notably MakerDAO’s DAI stablecoin, which has scaled significantly on Aave. With GHO, Aave now has a native stablecoin on its platform that acts as a distribution channel for other protocol stablecoins. Like DAI, GHO is an overcollateralized, decentralized, USD-pegged stablecoin. Users can mint GHO with their deposits on Aave V3, which allows Aave to acquire a previously outsourced vertical part of the lending stack—stablecoin issuance. Therefore: Aave is an issuer of a stablecoin—not just a lending venue for existing stablecoins—and directly controls the parameters and revenue of the stablecoin. GHO is a competitor to DAI, so now Aave can recycle interest payments into its own ecosystem. GHO interest can benefit AAVE token stakers rather than indirectly increasing MakerDAO fees. The introduction of GHO also requires dedicated infrastructure. Aave has facilitators—including the main Aave pool—that can mint and burn GHO and set governance policies. By controlling this new layer of functionality, Aave has built an internal version of the MakerDAO product to serve its own community. In another notable move, Aave is leveraging Chainlink's Smart Value Routing (SVR), or a similar mechanism, to recapture MEV (maximum extractable value, similar to payment for order flow in stocks) for Aave users. Tighter coupling with the oracle layer to redirect arbitrage profits back into the protocol is blurring the line between the Aave platform and the underlying blockchain mechanisms. This move suggests Aave's interest in customizing even lower-level infrastructure, such as oracle behavior and MEV capture, for its own benefit. While Aave hasn't yet launched its own wallet or chain like Uniswap and others, its founder's other ventures suggest his goal is to build a self-sustaining ecosystem. For example, the Lens Protocol, a social network, could be integrated with Aave for social reputation-based finance. Architecturally, Aave is moving towards providing all key financial primitives: lending, stablecoins (GHO), and potentially decentralized social identity (Lens), rather than relying on external protocols. In my opinion, this product strategy is about deepening the platform: with stablecoins, lending, and other services, Aave's user retention and protocol revenue should benefit. In short, Aave has evolved from a closed-loop lending dApp to an open lego that connects to DeFi and relies on others such as Chainlink and Maker, and is now returning to a more expansive vertically integrated financial suite. In particular, the launch of GHO emphasizes Aave's intention to reintegrate the stablecoin layer it once outsourced to MakerDAO. Our research suggests that the journeys of Uniswap, Aave, MakerDAO, Jito, and other protocols illustrate broader cyclical patterns in the crypto industry. In the early days, vertical integration—building a single, monolithic product with a very specific purpose—was necessary to pioneer new features like automated trading, decentralized lending, stablecoins, or MEV capture. These self-contained designs allowed for rapid iteration and quality control in emerging markets. As the space matured, modularity and composability became priorities: protocols unbundled portions of their stack to launch new features or provide more value to external stakeholders, becoming "money Legos" by leveraging the strengths of other protocols. However, the success of modularity and composability has brought new challenges. Relying on external modules introduces dependency risk and limits the ability to capture value created elsewhere within the protocol. Now, the largest players and protocols with strong product-market fit (PMF) and revenue streams are shifting their strategies back toward vertical integration. While not abandoning decentralization or composability, these projects are reintegrating key components for strategic reasons: launching their own chains, wallets, stablecoins, frontends, and other infrastructure. Their goal is to provide a more seamless user experience, capture additional revenue streams, and protect against dependency on competitors. Uniswap is building a wallet and chain, Aave is issuing GHO, MakerDAO is forking Solana to build NewChain, and Jito is merging staking/re-staking with MEV. We believe that any sufficiently large DeFi application will eventually seek its own vertically integrated solution. in conclusion History doesn't repeat itself, but it does rhyme. The crypto world is humming a familiar tune. Much like the SaaS and marketplace revolutions of the past decade, DeFi and application-layer protocols are focusing on new technical primitives, evolving user expectations, and a desire for greater value capture, all while moving along a trajectory of unbundling and rebundling. In the 2010s, startups specializing in niche segments of the massive Craigslist marketplace effectively atomized it into distinct companies. This unbundling gave rise to giants—Airbnb, Uber, Robinhood, Coinbase—all of which have since embarked on their own rebundling journeys, integrating new verticals and services into cohesive, sticky platforms. The crypto space is following the same path at a revolutionary pace. What started as strictly scoped vertical experiments—Uniswap as an AMM, Aave as a money market, Maker as a stablecoin treasury—became modularized into permissionless Lego blocks, opening up liquidity, outsourcing key functions, and allowing composability to flourish. Now that usage has scaled, the market is fragmenting, and the pendulum is starting to swing back. Today, Uniswap is becoming a trading super-app with its own wallet, chain, cross-chain standards, and routing logic. Aave is issuing its own stablecoin, bundling lending, governance, and credit primitives. Maker is building an entirely new chain to improve the governance of its currency ecosystem. Jito unifies staking, MEV, and validator logic into a full-stack protocol. Hyperliquid merges exchanges, L1 infrastructure, and the EVM into a seamless on-chain financial operating system (OS). In crypto, primitives are unbundled by design, but the best user experiences — and the most defensible businesses — are increasingly rebundled. This isn’t a betrayal of composability, but an implementation of it: build the best possible Lego brick and use it to build the best possible castle. DeFi is compressing the entire cycle into just a few years. How? DeFi operates in a completely different way: Permissionless infrastructure reduces the friction of experimentation: any developer can fork, copy, or extend an existing protocol in hours rather than months. Capital formation is instant — With tokens, teams can fund new projects, ideas, or incentives faster than ever before. Liquidity is highly liquid. Total value locked (TVL) moves at an incentivized pace, making it easier for new experiments to gain traction and successful experiments to scale exponentially. Larger addressable market size. Protocols have access to a global, permissionless pool of users and capital from day one, typically achieving scale faster than their Web2 counterparts that are limited by geography, regulation, or distribution channels. DeFi’s super apps are rapidly expanding in real time. We believe the winners won’t be the protocols with the most modular stack, but rather those that know exactly which parts of the stack to own, which to share, and when to switch between the two.

Author: PANews

2025/09/04

Can Coinbase Stock Rally Amid Derivatives Index Launch To Track US Stocks, Crypto ETFs?

Can Coinbase Stock Rally Amid Derivatives Index Launch To Track US Stocks, Crypto ETFs?

The post Can Coinbase Stock Rally Amid Derivatives Index Launch To Track US Stocks, Crypto ETFs? appeared on BitcoinEthereumNews.com. Key Insights: Coinbase will roll out a new derivatives product that will offer exposure to leading US tech stocks and crypto exchange-traded funds. The product will track the top 7 tech stocks, including Tesla, Meta, Nvidia, Amazon, Alphabet, Microsoft, and Apple, alongside BlackRock’s spot Bitcoin ETF. MarketVector will act as the official index provider. Coinbase’s upcoming launch of the Mag7 + Crypto Equity Index Futures could be a major catalyst for its stock, COIN, which has been trading sideways despite being included in the S&P 500 earlier this year. By providing institutions and retail investors with exposure to a combined index that offers access to the seven most prominent U.S. tech stocks, leading crypto ETFs, and its own shares in a single contract, Coinbase envisions a first-of-its-kind derivatives product. If institutional and eventually retail investors embrace the product, it could strengthen Coinbase’s role as the go-to exchange for diversified market access. This will potentially set the stage for a rally in COIN. Coinbase Stock Performance Since Announcement of Mag7 + Crypto Equity Index Futures While Coinbase’s NASDAQ-listed COIN has not yet recorded any considerable growth within 24 hours of the announcement, the actual launch of the derivative product on September 22 could act as a significant catalyst for the growth of Coinbase stock. This is particularly possible if the product gains strong adoption among institutions and retail investors. According to Coinbase, the product is history’s first futures contract to combine both traditional and digital assets in a single index. At the time of writing, COIN is 0.68% up over the last 24 hours and currently trades at $303.35 History’s First Futures Product Combining US Stocks and Crypto ETFs Major cryptocurrency exchange Coinbase is launching a new derivatives product that will offer exposure to leading US tech stocks and crypto exchange-traded…

Author: BitcoinEthereumNews

2025/09/04

Solana Price Gains 5%: Here’s What Long-Term Charts Say

Solana Price Gains 5%: Here’s What Long-Term Charts Say

The post Solana Price Gains 5%: Here’s What Long-Term Charts Say appeared on BitcoinEthereumNews.com. Key Insights: Solana price rose 5% to $211, but short-term signals show weak momentum and profit-taking. Exchange inflows and $472 million in long leverage raise the risk of a drop to $195–200. A golden cross on SOL/BTC points to a possible long-term rally toward $226, $247, and $300. Solana price traded near $211 after rising almost 5% during last 24 hours. Monthly gains were about 6.1%, while year-to-date growth stood at 65.5%. At first, this looks like strength. But Solana often fails to hold rallies. Profit-taking and heavy bets in derivatives have stopped many up moves before. This rebound may not be different. Signals from charts and flows show weakness in the short term, even as long-term charts still give hope. Short-Term Solana Price Outlook at Risk From Weak Momentum Between August 14 and August 28, Solana price made a higher high. But the RSI, which tracks strength, made a lower high at the same time. This is called a bearish divergence. In simple words, price went up, but buying power went down. This kind of bearish divergence often underlines waning buyer strength. Solana Price Action | Source: TradingView The next set of metrics confirms the outlook. Solana Money Flow Indicators | Source: TradingView The Money Flow Index (MFI) also failed to reach levels from August 13, when Solana peaked near $209. That shows weaker buying than before. The Chaikin Money Flow (CMF) stayed below zero, too. That means real money flowing into Solana stayed low, even while the Solana price climbed. Together, these signals show that the rebound may not last. If selling grows, the price could fall back to $195–200, a drop of about 5–7%. Profit-Taking on Solana Price and Exchange Flows Add to Selling Profit booking has been a key theme for Solana. Glassnode data shared by…

Author: BitcoinEthereumNews

2025/09/04

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