QCP Flags Bitcoin Pressure as Grayscale Says Compute Is Becoming a Scarce Digital Asset

QCP Flags Bitcoin Pressure as Grayscale Says Compute Is Becoming a Scarce Digital Asset

N
News Editor
2026-09-29 01:59:39
A broad mix of crypto, macro, regulatory, and infrastructure stories shaped the past 24 hours. QCP said Bitcoin is facing pressure from both geopolitics and a heavy U.S. macro calendar, with key support levels now in focus as traders price downside protection and spot ETF flows show hesitation. In South Korea, the Financial Services Commission is considering a market-making framework for virtual assets, a notable shift given current restrictions under the Virtual Asset User Protection Act. Franklin Templeton expanded its tokenized collateral program to Bybit, allowing users to post tokenized money market fund shares as collateral while the underlying assets continue to generate yield. ETF flows remained strong, with U.S. spot Bitcoin ETFs taking in $2.386 billion last week and spot Ether ETFs adding $690 million, according to SoSoValue. Elsewhere, Tether said it helped freeze nearly $550 million in Iran-linked USDT, Chainlink rolled out CCIP 2 with customizable cross-chain validation, and Grayscale research head Zach Pandl argued that energized, operational compute capacity is emerging as a new scarce digital asset as AI demand outpaces the buildout of power, data centers, chips, memory, and cloud infrastructure.

ChainCatcher has compiled the key crypto and macro developments from the past 24 hours.

QCP says Bitcoin is under pressure from geopolitics and macro data

According to QCP, global markets opened under pressure across multiple asset classes as investors cut risk exposure. Nasdaq 100 futures fell from 744.45 to 737.76 in premarket trading, gold dropped from $4,260 to $4,147, Bitcoin slid from $84,500 to $82,800, and the U.S. dollar index also moved lower. QCP said the move looked more like broad deleveraging than a rotation into traditional safe havens.

The firm said the main driver was geopolitical. The U.S. rejected a proposed ceasefire condition tied to the Strait of Hormuz over the weekend, reviving concerns about energy supply disruptions and pushing Brent crude sharply higher.

This week’s U.S. macro calendar is also crowded. After the Federal Reserve’s recent rate hike, the PCE price index and nonfarm payrolls report have become key releases, with markets highly sensitive to any data that could shift expectations for the next stage of monetary policy.

In crypto options, front-end implied volatility remains elevated, and dealers are still pricing downside protection. Spot Bitcoin ETF flows have also looked hesitant during the broader liquidation. QCP said Bitcoin’s recent technical strength is now being tested by geopolitical uncertainty and macro data risk at the same time, leaving key support levels under close watch.

South Korea’s FSC is considering a market-making regime for virtual assets

Digital Asset reported that Ryu Young-jun, a digital finance policy official at South Korea’s Financial Services Commission, said the regulator is considering a market-making system for the virtual asset market to improve efficiency and stability.

Current law under the Virtual Asset User Protection Act prohibits market making, but the comment signals that the FSC plans to revisit the issue in the second phase of legislation.

Ryu also said exchanges should have sufficient capital and operational capacity, and that core functions such as execution, trading support, and abnormal trading surveillance could move from self-regulation into statutory regulation. Governance rules for major shareholders and management may also be tightened. He added that once the legislation is in place, it could support a more diverse market structure, a more trusted trading environment, digital asset issuance and disclosure systems, KRW stablecoins, and stronger user protection.

Franklin Templeton expands tokenized collateral service to Bybit

CoinDesk reported that Franklin Templeton has expanded its off-exchange collateral program to Bybit, allowing users of the exchange to trade crypto using tokenized money market fund shares as collateral.

Users can post those shares to borrow USDT or USDC while the underlying assets continue to generate yield. The shares represent roughly $686 million in net assets. The underlying assets are not transferred to Bybit. Instead, they are held off-exchange by regulated custody platform ByCustody, while their value is mirrored inside the Bybit trading environment so users can unlock trading liquidity and still earn yield.

The shares are issued through the Benji technology platform, which Franklin Templeton describes as its proprietary blockchain-integrated recordkeeping and transfer agency infrastructure. The product is currently paying a 3.7% annualized yield based on the latest seven-day rate.

This is not Franklin Templeton’s first off-exchange collateral partnership. The firm has already offered tokenized money market funds to clients of Binance and OKX. Sandy Kaul, head of digital assets and industry advisory services at Franklin Templeton, said investors can now use collateral more efficiently across major exchanges and earn yield on it, which she said is important for ecosystem growth.

The move also reflects a wider industry pattern. Platforms including Crypto.com and Deribit allow eligible users to use BlackRock’s BUIDL fund as trading collateral.

Goldman Sachs says Korean retail liquidity is moving into crypto

Chris Cha, a Korea equity analyst in Goldman Sachs Global Investment Research, wrote in a Sept. 23 report that the KOSPI has the conditions for a tactical near-term breakout, but continued retail liquidity flowing into crypto means further upside will depend more on foreign investors and domestic institutions reallocating capital.

The report said some of the market’s concern about Fed rates has already been absorbed, while risk appetite is shifting toward agentic AI themes. It also pointed to Korean memory chip makers as a fundamental support. Goldman expects fourth-quarter DRAM contract prices to rise by double digits quarter over quarter, while the HBM4 ramp will continue to constrain supply of standard server DRAM.

Samsung Electronics’ large shareholder returns, continued institutional buying, and a turn by foreign investors into net buyers could help push the KOSPI toward the 7,000 to 7,200 resistance zone, the report said.

At the same time, Goldman said local retail buying power is weakening. After Bitcoin returned to $85,000, crypto trading activity in South Korea picked up. Citing DefiLlama data, the report said Upbit’s daily spot volume rose from about $770 million on June 13 to $1.817 billion on Sept. 22, an increase of about 136%. Based on a combined $3.27 billion in daily volume across South Korea’s five major exchanges that day, Upbit alone accounted for more than half. Goldman said October will be a key window for testing whether foreign investors continue adding exposure to Korean semiconductor and AI assets.

BNP Paribas says the Fed is unlikely to repeat the 2022-2023 hiking cycle

BNP Paribas strategist Chi Lo said that while markets still expect two more rate hikes, the Fed’s September move is unlikely to mark the start of a new tightening cycle like the one seen in 2022 and 2023.

Instead, he said, it may mark the start of preventive tightening aimed at reversing last year’s three rate cuts and bringing inflation back to target. In his view, more hikes would not solve external shocks such as war and energy-driven inflation, but they could ease market concerns about the Fed’s anti-inflation credibility. He said the central bank cannot keep ignoring repeated shocks or shocks that fail to fade as expected.

Lo also warned that further hikes could raise the risk of pushing the economy into stagflation by slowing activity in other parts of the economy in an effort to contain inflation pressure.

Tether says it helped freeze nearly $550 million in Iran-linked USDT

USDT issuer Tether said in a Sept. 28 statement that actions involving USDT in 2026 have frozen about $550 million tied to wallets identified by U.S. authorities as linked to the Central Bank of Iran and Iran sanctions networks.

Tether said its cooperation with U.S. and international authorities has supported more than 2,900 investigations globally, including more than 1,600 involving U.S. law enforcement.

According to the company, in April 2026 it helped freeze more than $344 million in USDT across two addresses based on information provided by the U.S. Treasury’s Office of Foreign Assets Control and U.S. law enforcement. The next day, OFAC designated those addresses as digital currency identifiers for the Central Bank of Iran, with the sanctions entry linked to the Islamic Revolutionary Guard Corps-Qods Force and Hezbollah.

In July 2026, the Treasury expanded the designation to four additional TRON addresses, and more than $130 million in USDT across those four wallets was frozen.

Chief executive Paolo Ardoino said, 「USDT is not a safe haven for sanctioned actors, terrorist organizations, or criminal networks.」 He added that public blockchains allow authorities to trace fund flows and that Tether can act when law enforcement provides credible information.

Tether also said it works with more than 340 law enforcement agencies across 67 countries and that its wallet-freezing policy is aligned with OFAC’s Specially Designated Nationals list.

MEXC user says API remained active after account takeover and about $340,000 was moved out

A MEXC user wrote on X that the account was taken over after someone reset its security settings. The user said MEXC confirmed the compromise, froze the account, and assisted with recovery, but did not revoke an API left behind by the attacker.

The user said that between 04:12 and 04:25 Beijing time on Sept. 27, 2026, 322,110 USDT and 9,133,999 ONE were transferred out, for a total of about $340,000, roughly 27 minutes after a 24-hour withdrawal restriction expired.

According to the post, the user received an email at 03:10 on Sept. 25 about a security reset request that had not been submitted by the account owner, and the request was approved about 10 minutes later. The account was then accessed from an IP address in Jakarta, Indonesia, Google Authenticator was bound, and an API was created at 05:05, about 83 seconds after login. At 10:55 that day, MEXC’s review process identified risk, froze the account, and restored the original email address.

Customer service said in writing that the change was approved because the submitted review materials met requirements, and that the account was urgently frozen and rolled back to the initial email after risk was found in a later review. The user changed the password and Google Authenticator on Sept. 26, but said the API was still not revoked and no related record appeared in the security operation history. The user also said there was no new login record when the assets were transferred out.

The user has filed a formal claim with MEXC and attempted to report the case to police. The ticket number is M2026092712031. The user asked the platform to preserve logs, provide a written explanation of the review and API situation, and return the assets. MEXC customer service said it could not yet confirm whether the transfers were initiated through the app, web, or API, and that the matter had been passed to the relevant department.

Spot Bitcoin ETFs posted $2.386 billion in net inflows last week

SoSoValue data shows that U.S. spot Bitcoin ETFs recorded $2.386 billion in net inflows over the trading week from Sept. 21 to Sept. 25, Eastern Time, the highest level in nearly a year.

BlackRock’s IBIT led the group with $1.158 billion in weekly net inflows, bringing its cumulative historical net inflows to $65.28 billion. Fidelity’s FBTC ranked second with $702 million in weekly net inflows and cumulative historical net inflows of $11.06 billion.

The largest weekly net outflow came from WisdomTree’s Bitcoin Trust BTCW, which saw $4.0161 million leave the fund. BTCW’s cumulative historical net inflows stand at $78.65 million.

As of publication, total net assets across spot Bitcoin ETFs were $108.42 billion. The ETF net asset ratio, measured against Bitcoin’s total market capitalization, stood at 6.43%, while cumulative historical net inflows reached $57.55 billion.

ENS Labs and GLEIF are exploring links between ENS names and vLEIs

ENS Labs, the developer behind Ethereum Name Service, and the Global Legal Entity Identifier Foundation are exploring how institutions could link ENS names to verifiable Legal Entity Identifiers, or vLEIs, to create persistent and verifiable onchain identity.

ENS is the Ethereum ecosystem’s naming and identity system, allowing users to replace long wallet addresses with readable names. GLEIF manages the global Legal Entity Identifier framework, and vLEI is its verifiable version used to confirm the legal identity of organizations.

The collaboration is aimed at connecting onchain names with regulated legal identity credentials. No specific product format or launch timeline has been disclosed in the public post.

The Kobeissi Letter says foreign investors held $24.32 trillion in U.S. equities in July

The Kobeissi Letter said in a post on X that non-U.S. investors’ holdings of U.S. equities remain near record highs.

The account said investors outside the United States held $24.32 trillion in U.S. stocks in July, the third-highest level on record. Foreign holdings have increased by $2.22 trillion this year, up 10%. Since the 2022 bear market, that figure has risen by $12.3 trillion, or 103%.

The Kobeissi Letter also said foreign allocations to U.S. equities have climbed to 60% of their U.S. financial assets, a record level and about 6 percentage points above the peak seen during the 2000 dot-com bubble.

MEXC says it has completed a preliminary review of the $340,000 account incident

Responding to the abnormal transfers from the user account, MEXC’s customer service team said on Sept. 28 that it had completed a preliminary review and provided a corresponding solution. The platform said it would continue one-on-one communication with the user by email, share updates on the handling process and any required information, and asked the user to monitor the registered email address and official communication channels.

Earlier, the user said on X that the account had been taken over after someone reset its security settings and that 322,110 USDT and 9,133,999 ONE, worth about $340,000 in total, were transferred out between 04:12 and 04:25 Beijing time on Sept. 27. The user said MEXC had confirmed the compromise and frozen the account to assist recovery, but had not revoked the attacker’s API. A formal claim has already been filed under ticket number M2026092712031.

Ark Invest says AI makes vulnerabilities easier to find and exploit

According to Ark Invest Tracker, Ark Invest said AI-driven hacking is spreading across everything, and the risk goes well beyond Bitcoin. The firm said AI makes software vulnerabilities easier to discover and exploit. Bitcoin and hardware wallets may be hit first, but social media, tax websites, and banking sites could face the same threat.

Ark said trusting a major brand still means trusting that company not to make mistakes as AI grows more powerful. It expects large custodians to become targets as well, with AI potentially finding and exploiting weaknesses at a pace not seen before.

Bloomberg says China has expanded overseas travel restrictions for top AI talent to family members

Bloomberg reported that China has expanded overseas travel restrictions for top private-sector AI talent to include family members. According to people familiar with the matter, immediate relatives such as spouses and children of executives at AI companies deemed critical to national security must obtain prior official approval even for short trips abroad.

The report said authorities have started notifying affected individuals and will gradually expand the list of AI talent subject to outbound travel restrictions. China’s Ministry of Industry and Information Technology did not respond to a request for comment.

Bloomberg noted that China’s revised State Council rules on exit and entry administration took effect on Sept. 15, allowing travel restrictions on individuals suspected of endangering national industrial and technological security. The report also said official concern over the outflow of key technology and talent intensified after Meta attempted to acquire Manus for $2 billion, leading authorities to order the deal scrapped and require some tech companies not to accept U.S. capital without approval.

Spot Ether ETFs recorded $690 million in net inflows last week

SoSoValue data shows that U.S. spot Ether ETFs posted $690 million in net inflows over the past trading week.

BlackRock’s ETHA led with $326 million in weekly net inflows, bringing cumulative historical net inflows to $13.28 billion. Fidelity’s FETH followed with $174 million in weekly net inflows and cumulative historical net inflows of $2.42 billion.

As of publication, total net assets across spot Ether ETFs stood at $17.78 billion. The ETF net asset ratio, measured against Ether’s total market capitalization, was 5.42%, and cumulative historical net inflows reached $13.94 billion.

REX and Osprey update filing for a SEI staking ETF

Sei Network said on X that REX Shares and Osprey Funds have updated their filing with the U.S. Securities and Exchange Commission for a SEI staking ETF and set Oct. 23 as the effective date.

The filing states that the amendment is only meant to designate a new effective date for a previously submitted post-effective amendment. The funds listed include the REX-Osprey SEI + Staking ETF, SUI + Staking ETF, HYPE + Staking ETF, NEAR + Staking ETF, AAVE ETF, ADA + Staking ETF, ATOM + Staking ETF, and AVAX + Staking ETF.

Ledger CTO disputes the idea that only about 30% of BTC faces quantum risk

Ledger CTO Charles Guillemet said he does not agree with the view that only about 30% of BTC is exposed to quantum computing risk while the remaining roughly 70% is safe because of public key hashing.

Glassnode data shows that about 30.2% of BTC has exposed spending public keys onchain. Guillemet said that figure only reflects a static onchain state. Public keys that are not exposed onchain may still exist in xpubs, devices, PSBTs, logs, or backups. He also noted that once a BTC transaction is initiated, the public key becomes visible before confirmation.

Citing Google Quantum AI research, he said that under a high-speed quantum computer model that does not yet exist today, a relevant attack on secp256k1 could be completed in about nine minutes. His conclusion was that hiding public keys alone cannot solve the quantum problem and that Bitcoin will ultimately need to migrate to post-quantum cryptography.

BitMine added 17,362 ETH last week and pushed holdings above 6 million ETH

PR Newswire reported that Ethereum treasury company BitMine added 17,362 ETH last week, taking its total holdings above 6 million ETH for the first time.

As of Sept. 27, 2026, BitMine held 6,001,302 ETH, equal to about 4.9% of Ethereum’s total supply. The company has added to its ETH treasury every week without interruption in less than 15 months since launching the strategy on June 30, 2025.

The total value of BitMine’s crypto, cash, and other investment assets is about $17.2 billion. That includes $672 million in cash and marketable securities, 213 BTC, $180 million in equity exposure to Beast Industries, and a $115 million investment in Eightco Holdings (ORBS).

Its staked ETH position remains at 5,067,309 ETH, or 84% of total holdings, worth about $13.7 billion, with current annualized staking income of about $358 million.

Tom Lee said in the company’s weekly report that ETH has outperformed the S&P 500 by more than 6,728 basis points so far in the third quarter, making it the best-performing macro asset globally. He said the crypto bull market began in late June, institutions remain underweight crypto, and he expects them to increase exposure sharply in the final months of 2026. Lee is also scheduled to deliver a keynote speech at Korea Blockchain Week in Seoul on Sept. 30.

U.S. 10-year Treasury yield rises to 5.234%

On Sept. 28, Gate market data showed the U.S. 10-year Treasury yield rising to 5.234%, the highest level since mid-2007. The 30-year Treasury yield rose to 5.542%, the highest since 2004.

The move points to a much higher market price for long-term risk and deeper concern over sticky inflation, the Fed keeping rates high, and the sustainability of large fiscal deficits and debt. Higher long-term borrowing costs for governments, companies, and consumers typically weigh on equity valuations and tighten global financial conditions, with possible implications for economic growth.

Bitget CEO says the platform’s first security incident in eight years stemmed from a third-party security product flaw

In a community livestream, Bitget CEO Gracy responded to the recent security incident and the platform’s financial position. She said it was the first security incident since Bitget was founded eight years ago.

According to Gracy, a full trace showed that hackers exploited a vulnerability in a third-party security product to steal internal network privilege credentials, then forged withdrawal instructions to the wallet system and tricked it into executing abnormal transfers that bypassed risk checks. She said private keys were not leaked and cold wallets were not affected. More technical details will be disclosed in a formal security report.

She added that the verified losses fall within the coverage of the protection fund and that user funds remain safe. Bitget has more than $1.4 billion in proprietary funds, including about $464 million in its user protection fund. The platform plans to replenish the fund to the $300 million baseline within a week.

Gracy said, 「The protection fund is not a slogan. It is an important mechanism that provides real protection for users when extreme security incidents occur.」 She said a platform’s overall strength and willingness to take responsibility during a security crisis are key measures of its risk response and long-term credibility, and that Bitget will continue to put user interests first.

Rising oil prices reinforce rate-hike expectations and pressure precious metals

Precious metals continued to fall on Monday, with spot gold down nearly 3% intraday and spot silver plunging 5%. Higher oil prices intensified inflation concerns and reinforced expectations that the Federal Reserve could raise rates again.

Tim Waterer, chief market analyst at KCM Trade, said the combination of high bond yields and high oil prices is putting pressure on gold. Investors are now watching U.S. labor and inflation releases, including job openings, the ADP employment report, the PCE inflation report, and nonfarm payrolls.

Samsung Electronics is accelerating construction of the first production line at Pyeongtaek P5

ZDNet Korea reported on Sept. 28 that Samsung Electronics is accelerating construction of the first mass-production line, Ph1, at its fifth Pyeongtaek campus, or P5, and is discussing with major equipment suppliers a plan to move the target date for equipment installation from the third quarter of next year to the second quarter.

P5 is Samsung’s next-generation semiconductor production base, targeted for operation in 2028. Construction of the Ph1 clean room began in the third quarter of this year. Samsung had already moved up completion of the P5 Ph1 clean room by about six months from the original plan for early next year, which in turn brought expected equipment installation forward to around the third quarter of next year.

Industry sources said the start of equipment move-in could shift from around July-August next year to around May-June. Another source said Samsung had even proposed taking delivery of equipment in the first quarter and storing it elsewhere, showing a strong willingness to invest earlier.

Discussions are also under way for the second phase, Ph2. At present, Ph1 is more likely to be built as a DRAM and HBM line, while Ph2 is more likely to become an advanced NAND line including tenth-generation V10. Equipment industry sources said formal purchase orders have not yet been issued, but Samsung has discussed building Ph2 as a NAND line and asked partners to prepare related components early because of long equipment lead times.

The report said global large-cap tech companies are increasing orders for high-performance DRAM and NAND used in AI infrastructure, while memory makers such as Samsung face limited capacity. On its second-quarter earnings call in July, Samsung said unmet demand this year would roll into next year, that shortages next year would be worse than this year, and that the shortage could last through 2028.

China’s Ministry of State Security says the supposed anonymity of virtual currencies is a false proposition

China’s Ministry of State Security published an article on its official WeChat account titled 「Virtual currency crime cannot be traced? Think again!」 The article said virtual currencies have become an important tool for illegal activity, describing them as a 「breeding ground」 for money laundering, a 「cover」 for cyberattacks, and an 「accomplice」 in espionage and theft of secrets.

The ministry said the supposed anonymity of virtual currencies is fundamentally a false proposition. It argued that blockchains are public and transparent, onchain data cannot be tampered with, and transaction records are permanently preserved, providing a basis for full-chain tracing. Address anonymity only creates a temporary separation between wallet addresses and real identities, while fiat conversion still leaves traces such as device identifiers and network IP addresses.

The article summarized the issue as 「look at the ledger, trace the path, examine the private key.」 It said transactions leave traces throughout, making real identities hard to hide. If private keys are self-custodied, there is no loss reporting or recovery. If they are held by a platform, users face the risk of platform collapse or loss of contact.

The article also said a February 2026 notice from the People’s Bank of China and other departments reiterated that Bitcoin, Ether, and Tether should not and cannot circulate as currency, and that related business activities are illegal financial activity and strictly prohibited. It warned the public to be cautious of high-paying part-time jobs settled in virtual currency and said reports can be filed through 12339, www.12339.gov.cn, the ministry’s WeChat account, or local state security authorities.

Michael Saylor says digital tokens could help finance 10 million new companies

Michael Saylor said that as AI changes how companies are built, digital tokens could help finance 10 million new companies while reducing fundraising costs and delays.

The executive chairman of Bitcoin treasury company Strategy Inc. argued for simpler issuance rules while preserving disclosure and anti-fraud protections. He said companies could issue tokens under rules tailored to the type of issuance, with disclosure requirements matched to risk, lowering legal costs while preserving ownership protection and accountability for fraud.

The U.S. Securities and Exchange Commission has separately proposed crypto issuance exemptions. One proposal would allow eligible issuers to raise up to $5 million over four years, while another would allow up to $75 million every 12 months. Both remain proposals and include disclosure and anti-fraud requirements.

Revolut gets Argentine central bank approval to acquire Banco Cetelem

Crowdfund Insider reported that digital bank Revolut said it has received approval from the Central Bank of Argentina to acquire Banco Cetelem Argentina, which is owned by BNP Paribas.

After the transaction closes, the institution will be renamed Revolut Bank Argentina S.A.U. and operate as a licensed bank. It will not offer products or services to the public at first, however, and will launch local operations only after completing the remaining regulatory and operational requirements.

Revolut said more than 150,000 people have already joined the waiting list for its Argentina business.

Chainlink launches CCIP 2 with customizable cross-chain security checks

Oracle network Chainlink released CCIP 2 on Monday, a major upgrade to its communication and cross-chain bridge infrastructure.

The new version lets enterprises add their own security validation checks on top of Chainlink’s default validation network of 16 independent node operators. Companies can run their own validators or hire outside providers such as Infosys and Nethermind. Chainlink said users should not be forced to become 「experts in cross-chain security infrastructure.」

The upgrade comes about five months after Kelp DAO was hacked in April. The attacker, reportedly linked to North Korea’s Lazarus Group, stole about $292 million in rsETH by deceiving the single validator used by Kelp’s cross-chain bridge, which ran on LayerZero. LayerZero blamed Kelp for using only one validator, while Kelp said LayerZero employees had reviewed the setup and raised no objections. Kelp later said it would migrate rsETH to Chainlink.

The upgrade also changes a protection mechanism that Chainlink had previously highlighted. Its risk management network will no longer operate as an independent review node. That kind of independent check is now provided by optional validators. In practice, users who do not add any validators now rely on one validation network rather than two.

Chainlink said existing users have already been migrated automatically to the new version. The company has not disclosed which institutions are using the new validators, but said Aave and Maple have started using other features included in the upgrade.

Grayscale says compute is becoming a new scarce digital asset

Zach Pandl, head of research at crypto asset manager Grayscale, wrote in The Stack on Sept. 24 that the AI boom is creating a split between the demand path and the supply path for the compute needed to train, run, and operate models.

Grayscale said that imbalance favors owners of energized, operational compute capacity and creates growth-oriented investment opportunities. Pandl wrote that digital demand can expand instantly, but physical infrastructure such as power, data centers, chips, memory, and cloud services often takes years to permit, connect, and build.

He said AI agents performing multistep tasks may consume 5x to 50x more compute tokens than a typical chatbot interaction. As activity rises at the application layer, that demand is likely to flow down into the underlying compute stack.

Citing material from the International Energy Agency and Lawrence Berkeley National Laboratory, the article said data centers are expected to account for about half of U.S. electricity demand growth by 2030, while connecting new projects to the grid could take more than five years. Even once power is secured, projects still need permits, skilled labor, electrical equipment, cooling systems, GPUs, high-bandwidth memory, and networking.

Grayscale’s conclusion was that lasting value will accrue to power producers, data center operators, and AI cloud providers that can already turn electricity into computation.

Volante and Circle partner to add USDC workflows

Circle has partnered with payments technology company Volante Technologies to integrate USDC-related workflows into Volante’s existing payments platform.

The arrangement allows financial institutions to bring stablecoin payments and settlement into existing systems without building a separate digital asset technology stack. Volante’s clients include four of the world’s top five corporate banks and seven of the top 10 U.S. banks.

Those institutions will be able to evaluate USDC minting, redemption, wallet registration, funding, and wallet-to-wallet payment flows alongside existing payment rails.

Meme rankings and additional reading

According to market data from meme token tracking and analytics platform GMGN, as of 08:58 on Sept. 29, the top five trending Solana tokens over the past 24 hours were e/acc, PAID, STONK, FROINK, and HOOKED. The top five trending Base tokens over the same period were Basecat, boar, SOL, SPIKE, and VVV. The original text did not list the names of the top five ETH meme tokens for the period.

The original roundup also included several recommended reads: 「Rate hikes are not an automatic bearish signal, and new highs are not an automatic sell signal」, 「The ‘Meme factory’ comes into view: how the extraction pipeline on Robinhood Chain works」, 「The rise of giant platforms and tiny software companies leaves mid-sized point solutions most exposed」, and 「Facing Meta Muse, OpenAI rushes out a personal assistant expected to launch Tuesday」.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.
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