1. Popular CEX currencies

Top 10 CEX trading volume and 24-hour price changes:

• BTC: -0.14%
• ETH: +0.09%
• AVNT: +32.47%
• BNB: +4.95%
• SOL: +0.81%
• XRP: -0.10%
• DOGE: +0.82%
• WLFI: +5.27%
• OPEN: +3.76%
• ADA: -0.98%

24-hour price increase list (data source: OKX):

• MERL: +40.33%
• ME: +36.44%
• PERP: +16.43%
• WOO: +8.09%
• BABY: +8.10%
• AEVO: -5.71%
• IP: +5.29%
• WLFI: +3.43%
• MOVE: +4.26%
• FLUID: +4.04%

24-hour cryptocurrency stock price increase list (data source: MyStonks):

• Abits Group Inc (ABTS.M): +22.14%
• BigBear.ai Holdings, Inc. (BBAI.M): +11.15%
• WeRide (WRD.M): +10.8%
• ASP Isotopes Inc. (ASPI.M): +8.11%
• Faraday Future (FFAI.M): +7.14%
• ALT5 Sigma Corporation (ALTS.M): +7.07%
• EBON International (ticker: EBON.M): +7.01%
• Lemonade, Inc. (LMND.M): +6.89%
• IREN Limited (IREN.M): +6.55%
• Silver Spot ETF 2x Long (Ticker: AQQ.M): +5.8%

2. Top 5 popular memes on the chain (data source: GMGN ):

• XBT
• Dege
• CANCER
• URANUS
• JD.com

Headlines

BNB's market capitalization surpassed $150 billion, reaching a new high, surpassing Accenture to rise to 143rd in global asset market capitalization ranking.

The latest data from 8 MarketCap shows that the market value of BNB has risen to approximately US$150.32 billion, with a 24-hour increase of 9.58%, continuing to set a new historical high. It has now surpassed giants such as Accenture and China Merchants Bank to rank 143rd in the global asset market value.

Vitalik: Low-risk DeFi is to Ethereum what search is to Google

Ethereum founder Vitalik Buterin wrote that the Ethereum community has long struggled to balance economic sustainability with idealistic goals. Previously, high-yield projects like NFTs, meme tokens, and high-risk DeFi were often the source of high returns, while applications truly aligned with Ethereum's vision lacked sufficient economic support.

Today, as various protocols gradually mature and their security improves, low-risk DeFi is becoming a core growth point for Ethereum, focusing on payments, savings, synthetic assets, and fully collateralized lending. It has both considerable transaction fee contributions and inclusive value, and can provide transparent, stable, and permissionless financial services to global users.

This can be compared to the relationship between search and Google: search and advertising underpin Google's business model, while low-risk DeFi is expected to provide long-term, robust economic support for Ethereum. At the same time, it avoids speculation and cultural misalignment, aligning closely with Ethereum's decentralized ethos.

In the future, low-risk DeFi will not only provide more people with fair savings and payment channels, but may also evolve into more innovative applications such as reputation-based mortgages, prediction market hedging tools, CPI-linked stablecoins, and new value carriers. Its stability and scalability make it the most promising "pillar application" in the Ethereum ecosystem.

Industry News

Total cryptocurrency market capitalization has increased by $1.6 trillion since April

According to Cointelegraph, the total market capitalization of cryptocurrencies has increased by $1.6 trillion since April.

OKX Web 3 previously did not launch products similar to Hyperliquid due to regulatory concerns.

OKX CEO Star stated in a post that Hyperliquid demonstrated that on-chain derivatives protocols could be successful with a small staff, attracting competitors like Aster to the field. OKX Web 3 has been testing a similar product since 2023 but chose not to launch on mainnet due to regulatory concerns. Star also mentioned the U.S. Commodity Futures Trading Commission (CFTC) enforcement action against Deridex in 2023 and expressed hope that the industry will gain regulatory clarity soon.

Analyst: Final approval of Ethereum staking ETF is expected to be brought forward to October 2025

The Ethereum (ETH) staking entry queue has fallen to its lowest level in four weeks, with the market concerned that a surge in exit queues could trigger a massive sell-off. The market has found that continued accumulation and buying of Ethereum treasuries and spot ETH ETFs are absorbing the selling pressure. Most of these institutions have or plan to stake assets to obtain additional returns, which may drive an increase in the staking entry queue in the coming weeks. Another positive expectation is the potential launch of an ETH staking ETF, which means that some investors may release liquidity and re-enter related products in the future to adjust their market exposure, rather than completely exit the ETH market. The deadline for final approval by the U.S. Securities and Exchange Commission (SEC) is April 2026. According to analyst Axel Bitblaze, approval is expected to be brought forward to October 2025. He added: "The next deadline for BlackRock's ETH staking approval is in October, and I think approval is likely to happen."

Project News

Web3 education platform Giggle Academy announces acceptance of cryptocurrency donations

Giggle Academy, a Web 3 education platform supported by CZ, announced that it will accept cryptocurrency donations. It is reported that all donation transactions will be put on the chain and fully traceable, without the need for legal currency. The donation funds are intended to promote community building and creator incentives.

StandX TVL exceeds $50 million, setting a new record high

StandX officially announced on September 21 that its TVL doubled in three days and exceeded US$50 million on September 20, setting a new record high.

Ronin Treasury will start RON repurchase on September 29, with a scale of approximately 1.3% of the circulating supply

Ronin officially announced that its treasury will begin repurchasing RON tokens on the open market on September 29th. The treasury currently holds over $5 million in assets, including 890 ETH and 650,000 USDC, all of which will be converted into RON, representing approximately 1.3% of the current circulating supply of RON.

Ronin stated that this move aims to reduce market circulation, increase national reserves, and strengthen ties with ecosystem builders and coin holders. Officials emphasized that the national treasury will only conduct one-way repurchases and will not sell RON.

Investment and Financing

Flora Growth Raises $401 Million, Launches ZeroG Treasury Strategy and Renames to ZeroStack

Flora Growth Corp. (FLGC), a Nasdaq-listed company, today announced the pricing of its private investment in publicly traded companies (PIPE) offering, implementing its Zero Stack treasury strategy. Upon closing, the company expects to change its name to ZeroStack and retain the "FLGC" ticker symbol.

The offering was led by DeFi Dev Corp., a Solana financial strategy listed company, with participation from Hexstone Capital, Carlsberg SE Asia PTE Ltd (CSAPL), Dao 5, Abstract Ventures, Dispersion Capital, Blockchain Builders Fund, and Salt.

Flora Growth has secured $401 million in financing, comprised of over $366 million in physical digital assets and $35 million in cash and equivalent commitments, and has entered into a PIPE transaction agreement to purchase and sell common stock (including pre-purchase warrants) at a price of $25.19 per share. This transaction also includes an in-kind contribution of $3.00 per 0G token and a portion of an in-kind loan.

Fintech startup Finary completes €25 million Series B funding round, with participation from PayPal Ventures

Finary, a wealth management fintech startup, announced the completion of a €25 million Series B funding round, with participation from PayPal Ventures, Y Combinator, Speedinvest, LocalGlobe, Kima Ventures, as well as angel investors such as Wise CTO Harsh Sinha and former UBS Chairman Axel Weber. The company's wealth management services include stocks, reserves, and life insurance, and it is also expanding the financial tools available to users to include cryptocurrency investments.

Regulatory trends

The number of reports of illegal virtual asset transactions in South Korea from January to August this year has exceeded the total of the past two years.

According to South Korean lawmaker Jin Xingjun, citing data from the Financial Intelligence Analysis Service (FIU), virtual asset service providers in South Korea submitted 36,684 suspicious transaction reports (STRs) from January to August of this year, exceeding the 35,734 reported in the previous two years combined. Under the current Specified Financial Information Act, virtual asset service providers in South Korea are required to report suspected money laundering and other transactions to the FIU. Separately, the Customs Service revealed that in May of this year, an underground exchange operator was found to have illegally transferred approximately 57.1 billion won (approximately 5.71 billion won) across borders using the stablecoin USDT.

UK police arrest members of Scattered Spider, a hacker group suspected of extorting over $115 million

British police have arrested 19-year-old Thalha Jubair, accused of being a member of the hacker group Scattered Spider. Since May 2022, the group is suspected of launching cyberattacks against over 100 organizations and demanding over $115 million in ransoms, of which approximately five companies paid $89.5 million. The FBI has seized $36 million in digital assets from wallets controlled by Jubair. Investigations revealed that Jubair's activities were exposed when he used ransom money to purchase gaming gift cards and food delivery services. His victims included key institutions, including the US federal court system.

The Jilin High Court disclosed a case involving the laundering of stolen funds through the use of virtual currency and gold. The defendant was sentenced for concealing and hiding the proceeds of crime.

The official account of the Jilin Provincial High People's Court disclosed that the Longjing City People's Court of Jilin Province recently tried a case of concealing and hiding the proceeds of crime. Four defendants purchased gold for upstream telecommunications network fraud personnel, sold it for cash, and transferred virtual currency through illegal virtual currency platforms to help them launder the stolen money. It is reported that the defendants' transaction amount reached more than RMB 789,000, of which the verified fraudulent funds were more than RMB 452,000. In the end, the court sentenced the defendants to fixed-term imprisonment ranging from two years to one year and fined them between RMB 10,000 and RMB 20,000.

Character Voice

Syndicate co-founder: Prediction markets are closer to DAOs, both involving the "combination of social behavior and capital"

Syndicate co-founder Ian Lee recently stated that prediction markets and decentralized autonomous organizations (DAOs) may be closer than some people realize, as both involve "the integration of social behavior and capital." Lee pointed out that the essence of DAOs is the coordination of human and financial capital, while prediction markets also coordinate funds and collective wisdom, and therefore can be considered a form of DAO. He emphasized that prediction markets should not be viewed simply as "gambling tools" but rather as "social financial networks." Platforms such as Kalshi and Polymarket are currently experiencing active trading, with the former exceeding $1 billion in monthly trading volume, and the latter reaching 226,000 active traders last month, also with approximately $1 billion in trading volume.

Arthur Hayes responds to selling HYPE, saying he needs to pay a deposit for a luxury car

In response to last night's sale of a HYPE worth approximately $5.15 million, Arthur Hayes jokingly said he would "pay a deposit for a Rari 849 Testarossa."

Previous news: Arthur Hayes sold 96,600 HYPEs, cashing out $5.1 million.

US investment bank Jefferies: The crypto market is still in the "1996 stage of the Internet" and institutional investors should not only focus on BTC

In a report for large institutional investors, US investment bank Jefferies stated that the cryptocurrency development stage is similar to that of the internet in 1996, with ample room for growth. Analysts noted that excessive focus on Bitcoin prices could overlook the disruptive potential of blockchain technology across various industries. Some institutions have already begun investing in it through ETFs and digital asset treasury (DAT) companies. Jefferies recommends that investors adopt the investment strategies of the early internet era, focusing on projects with long-term utility and selectivity.