Tag: CRYPTOS FoxBusiness

TapTools has abandoned a community $NFT sale intended to help bring its Cardano analytics platform back online after users reacted angrily to its return, with every participant refunded in full.

The backlash quickly reached Charles Hoskinson, who responded by sharing a South Park parody of BP’s repeated “we’re sorry” apology.

TapTools Pulls Sale After Community Backlash

TapTools shut down in June after four years of operating in the Cardano ecosystem. In its announcement then, the team said two co-founders, including its CTO and COO, had left earlier in the year, while its replacement CTO later decided to leave as well.

The company also cited infrastructure, development, and support costs as reasons it could not responsibly continue without a sustainable path forward. But that changed on September 2, when TapTools posted “We’re back” and said thousands of users had reached out after the shutdown asking how they could help. The team described the return as “Phase One” and said it wanted to try to bring the platform back.

The reaction was immediate and largely hostile. One X user, Sssebi, wrote that they were initially happy to see TapTools return but became disappointed after visiting the website and finding a limited $NFT sale of 777 pieces at 777 $ADA each, “the price of 2 copies of GTA6,” as a community member put it. Another, Matt Scheff, described the new $NFT mint as “dumb and extractive” and urged users not to buy it, while Gero Wallet called the move “either a scam or a scam.”

TapTools later acknowledged the problem. “We got this one wrong,” the team wrote, saying it had believed the sale could give the community a way to support an attempt at bringing the platform back. Instead, it said it had “misread the moment, the sentiment, and how it would be received.”

Some time after the apology, Hoskinson responded by quote-tweeting it with nothing but a link to a South Park clip parodying former BP CEO Tony Hayward repeatedly saying “we’re sorry” after the Gulf oil spill, a well-worn reference for hollow corporate apologies. He did not add a written comment, leaving the clip itself to carry the message.

Cardano’s Wider Frustration Adds Pressure

TapTools’ original shutdown landed when Cardano was going through a rough stretch, with EMURGO stepping down from the network’s governance group to focus on helping users affected by the SecondFi exploit, a planned Singapore summit getting called off, and Hoskinson himself warning of a possible “wave of failures” among the ecosystem’s DeFi projects.

Even so, large $ADA holders were adding to their positions while smaller wallets kept selling, a split some read at the time as one of the healthier setups the token had shown all year.

For TapTools, the immediate issue is no longer the sale, with the team withdrawing it and refunding participants. The harder part is rebuilding trust with users.

$XRP experienced a steep price correction on the 22nd of August. Yet, despite that momentum, one trend has quietly continued beneath the sell-off. Ripple [$XRP] tokens keep leaving the Binance exchange.

Since November 2025, the altcoin’s monthly reserves have fallen from 3.1 billion to 2.6 billion $XRP. This decline removed roughly 500 million tokens.

Normally, a 63% retreat from $3.66 toward $1.35 could encourage holders to return tokens for selling. Instead, reserves kept trending lower through rebounds and retracements, while the monthly average reached its weakest level since February 2024.

Simply, that divergence in trends indicates that $XRP holders are increasingly moving $XRP from exchanges like Binance rather than returning it to an exchange. Despite this implying that holders show no intent of selling, it does not prove accumulation.

This is because custody changes and other Binance transfers can cause reserve balances to decline.

Still, fewer exchange-held tokens mean less $XRP sits immediately available for sale. Yet, if withdrawals persist when demand improves, tightening exchange supply could strengthen $XRP’s longer-term recovery.

Whale withdrawals dominate $XRP outflows

As $XRP continued leaving Binance, August revealed another shift. Larger holders were increasingly responsible for the sudden trend shift. Notably, whale outflow dominance reached 84.25% on the 21st of August, while retail slipped to just 15%.

That 69.25-point gap nearly replicated March’s 84.6% whale peak. In other words, this simply showed that large-holder activity had returned to an extreme.

Moreover, whales generated 5.6 times retail outflows. This was up from 4.5 times that experienced in June.

This concentration matters because large transfers can reshape exchange liquidity faster than dispersed retail movements. Nevertheless, outflows cannot confirm whether whales are accumulating or simply relocating the tokens.

Meanwhile, with dominance now easing to 78.5%, sustained levels near 80% would indicate large holders remain the main force behind Binance withdrawals.

$XRP tests key support as selling pressure persists

Whale withdrawals may be reducing $XRP on Binance, but price action shows that scarcity alone has not brought buyers back. $XRP’s rally stalled near $1.56 before repeated lower highs dragged the price toward $1.35, keeping sellers firmly involved.

At press time the altcoin was trading at $1.32. However, a break above the current bearish trend line would provide bulls with the first real opportunity to reverse recent losses.

If the bulls can successfully defend this area, it will create a basis from which $XRP can build upon instead of just pausing before another leg lower.

However, weak volume shows buyers have not committed enough capital yet. A move through $1.42 would change that picture, opening $1.48–$1.50. Consequently, if the $1.3199 level breaks, bearish momentum could overwhelm reduced exchange supply

As a result, this would expose the $1.25–$1.28 zone, hence extending the correction and delaying any meaningful recovery.

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Final Summary

• $XRP Binance reserves fell 500 million tokens as whale withdrawals tightened exchange supply.
• $XRP must hold $1.3199 and reclaim $1.42 to strengthen recovery prospects.

Uniswap extended its bullish streak, breaching the $6 resistance and reaching an eight-month high of $6.37. At press time, Uniswap [$UNI] traded near $6.20 after gaining 11.35% over 24 hours.

Trading Volume surged 153% alongside the price increase, reflecting heightened market activity. The move also brought $UNI close to recovering all its 2026 losses.

What is driving Uniswap’s rally?

Uniswap [$UNI] has continued to rally, mostly driven by strong activity from both whales and other institutional entities. Professor Onchain noted the move above $6 was fueled by heavy institutional inventory positioning.

According to the on-chain monitor, Wintermute absorbed 2.03 million $UNI worth $11.07 million into its primary market maker wallet. The same entity routed another $4.64 million worth of $UNI into Binance deposit lines.

In fact, top tracked wallets moved roughly $45 million in $UNI into active market circulation.

On top of that, whales are also aggressively buying. Nazoku reported that a whale purchased 540k $UNI worth $2.8 million, just before the price crossed the $6 mark.

The same wallet purchased 394k $UNI worth $1.71 days ago. In total, the wallet holds nearly $37 million worth of digital assets.

Often, strong whale and institutional activity has strengthened the demand side which precedes major price moves to the upside.

Will $UNI profit-taking derail the rally?

$UNI’s return to $6 for the first time since January encouraged holders to realize profits.

According to CoinGlass, Spot Netflow remained positive for two consecutive days. Spot Netflow climbed to $11.2 million on the 1st of September before easing to $8.6 million. The metric had not reached comparable levels since December 2025.

Positive Spot Netflow indicated that more $UNI entered exchanges than left them. Those deposits could increase sell-side liquidity and expose the rally to a pullback.

Can $UNI hold above $6?

For now Uniswap is under strong bullish pressure, driven by strong market demand. Looking at the momentum Ghost Machine, has remained positive and rising for 12 consecutive days.

When the indicator rises during an uptrend, it confirms buyers have gained considerable market control. Likewise, the Relative Vigor Index (RVGI) formed a bullish crossover, hiking to $0.3, further confirming this bullish pressure.

Taken together, these two indicator signal the likelihood of the current trend to hold. Therefore, if the demand holds, the uptrend will continue , with $UNI flipping $6.5 and eye a move above $7.

However, profit taking is especially strong and could poses another pullback risk. if the pressure persist, $6 will fail to hold and likely fall to $5.4.

Final Summary

• Uniswap gained 11.35%, breached $6 and reached an eight-month high of $6.37.
• Whale buying supported $UNI’s rally, while institutional wallet activity increased around the breakout. Rising Spot Netflow could test whether $UNI can defend $6 and extend its move toward $7.

Hyperliquid’s native token, $HYPE, has been included in the portfolio of a US-based crypto index ETF for the first time. Added to Hashdex’s Nasdaq Crypto Index US ETF (NCIQ), $HYPE now holds a 3.4% weighting, making it the fifth largest asset in the ETF.

According to the latest index composition released by Hashdex, Bitcoin ($BTC) constitutes the largest portion of the portfolio with 74.6%. The fact that Bitcoin’s previous weighting was around 78% indicates that the share of $BTC has been reduced with the recent adjustment.

Ethereum (ETH) ranks second with 11.8%, while XRP has a weighting of 5.1%. Solana’s (SOL) share increased from 3.2% to 3.7%. $HYPE, with a weighting of 3.4%, is the fifth largest component of the ETF portfolio, right behind Solana.

$HYPE’s inclusion in NCIQ is considered a significant development for the token, particularly in terms of access to regulated investment products, especially those based in the US.

$HYPE is known as the native token of the decentralized cryptocurrency exchange Hyperliquid.

*This is not investment advice.

The delay is another sign of the cooling market for crypto IPOs after the industry entered 2026 expecting a wave of public listings following the successful debuts of Circle CRCL$88.88·At close and CoinDesk’s owner Bullish BLSH$32.64·At close last year. Weaker crypto prices and trading volumes, coupled with poor aftermarket performance from some newly listed digital-asset companies, have dampened investor appetite and prompted several high-profile firms, including asset manager Grayscale, Ethereum software developer Consensys and hardware wallet maker Ledger, to postpone their plans.

Payward confidentially filed a draft S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) in November 2025 for a proposed offering of its common stock.

The filing came shortly after the company raised $800 million from investors at a $20 billion valuation, including a $200 million investment from Citadel Securities.

Since shelving the IPO, Payward has continued to expand beyond its core crypto exchange business, adding traditional and crypto derivatives, tokenized equities and payments infrastructure through a series of acquisitions and product launches.

The company reported adjusted revenue of $508 million for the second quarter, up 17% from a year earlier, while funded accounts rose 42% to 6.6 million. Assets on the platform stood at $40 billion.

The $ICP price is approaching a key technical level as recent UNDP-DFINITY developments coincide with stronger whale accumulation and rising network activity. The partnership introduces sovereign cloud and agentic AI pilots for public services, while OpenSaaS expands the ecosystem’s business software offering. These developments have also accompanied notable changes in $ICP holder behavior.

UNDP and DFINITY Expand Public-Service Plans

On August 25, the UN Development Programme and DFINITY Foundation announced an agreement focused on bringing sovereign cloud and agentic AI capabilities to public services. The UNDP operates across more than 170 countries and has supported digital public infrastructure initiatives in more than 25 countries.

Over the next 12 months, DFINITY plans to pilot the technology through UNDP Country Offices and civil society organizations while working with governments through co-design pilots. The initiative will run on Cloud Engines, with OpenSaaS software available alongside tools that include Caffeine, Claude Code, Codex and Perplexity.

Two days later, DFINITY introduced OpenSaaS as a business software suite designed without per-seat fees. The platform is described as free forever, remixable and capable of allowing users to modify applications through AI instructions. It also emphasizes software ownership, data control and operation through Cloud Engines.

$ICP Holder Accumulation Strengthens

Meanwhile, on-chain distribution data points to changing investor behavior. The 1K-10K $ICP cohort has generally increased since early 2026, while the 10K-100K cohort had previously declined before showing a notable accumulation spike in late August.

At the same time, the 100K-1M $ICP cohort has continued to decline since early 2026. However, large holders in the 1M-10M $ICP range have continued accumulating, with another increase visible toward late August. While the timing coincides with the recent announcements, the data alone does not establish that the partnership news directly caused the accumulation but timeline of the activity still matters.

$ICP Price Targets $3.10 and $4.10

Network activity is also showing signs of improvement, with 24-hour active addresses recording a spike. Consequently, the $ICP price is approaching a decision point around the $2.48 resistance level.

If demand strengthens enough to break above $2.48, the next potential levels highlighted by the current setup are $3.10 and $4.10. Conversely, continued selling pressure could push the $ICP price below the resistance zone, bringing $2.00 and potentially $1.00 into focus.

Bitcoin’s nearly 40% rise from its lows in late June has reignited debates about whether a new bull cycle has begun in the cryptocurrency market.

Frontier-tech investor Didier and macro hedge fund portfolio manager Griffin Ardern discussed Bitcoin’s recent recovery and how the market might shape up going forward. While the two largely agreed on the dynamics behind the current rally, they offered differing opinions on whether Bitcoin has entered a new bull market.

Didier considers Bitcoin’s significant break above its 200-day moving average a major technical signal. He notes that the relatively low market positioning and the high volume of short positions could also support the rise, suggesting that the current movement could indicate the early stages of a new bull market.

Griffin Ardern, however, takes a more cautious approach. According to Ardern, Bitcoin is still in the final stages of a prolonged bear cycle, and clearer signals from dollar liquidity, US fiscal policy, and the Treasury bond market are needed before a sustained bull market can be discussed.

Both market experts agree that the recent rise in Bitcoin was not solely due to fundamental factors. They cite several key reasons for the price movement, including investors not having taken sufficient positions in the market before the rise, the closing of short positions, and changes in expectations regarding the US fiscal outlook.

However, Didier and Ardern differ on the trajectory of US Treasury bond yields and the outlook for global liquidity. In particular, developments in the bond market are noted as potentially decisive in terms of the size of capital flowing into risky assets.

The assessments also examined the balance sheet structure and Bitcoin position of Strategy, led by Michael Saylor. In addition, the possibility of capital flowing from the increasingly crowded AI-themed trading market into the cryptocurrency market was considered a potential catalyst for a Bitcoin rise.

*This is not investment advice.

The Federal Reserve’s latest Beige Book report revealed that economic activity has generally seen moderate growth since early July, but concerns about energy prices, policy uncertainties, and international conflicts have increased.

According to the report, economic activity grew slightly to moderately in 10 of the Fed’s 12 regions, while two regions saw no significant change. Although consumer spending saw limited growth, it was noted that consumers have become more sensitive to prices. While spending by the upper income group remained strong, automobile sales were under pressure due to weak consumer confidence, high oil prices, and rising financing costs.

Manufacturing showed a recovery in most regions. Some Fed regions reported strong demand, particularly in orders related to defense and data centers.

The report noted a slowdown in labor market growth, with only a limited increase in total employment. While labor demand remained relatively strong in the manufacturing and construction sectors, demand for workers declined in the retail and hospitality sectors.

On the price side, while most regions reported moderate increases, it was emphasized that cost pressures stemming from energy, transportation, and raw material costs, as well as tariffs, continued.

According to the Fed’s field surveys, businesses generally maintain positive expectations regarding the economic outlook. However, the trajectory of energy prices, uncertainties in economic policies, and international conflicts are among the main risk factors for companies in the coming period.

*This is not investment advice.

A strong surge in network activity on Robinhood Chain has driven daily transaction fees to record levels, significantly boosting revenue for the Arbitrum ecosystem. According to DeFiLlama data, Robinhood Chain generated approximately $3.75 million in daily fee revenue on September 1st, reaching an all-time high for the fourth consecutive time. This performance propelled Robinhood Chain to the top fee-generating blockchain network of the day.

It is stated that 10% of Robinhood Chain’s fee revenue is shared with the Arbitrum Foundation. 80% of this share goes to the Arbitrum DAO, and the remaining 20% goes to the developer fund. Accordingly, just one day of Robinhood Chain activity generated approximately $370,000 in revenue for the Arbitrum ecosystem.

What’s remarkable about the figures is that the revenue generated from Robinhood Chain significantly exceeded the fee revenue from Arbitrum’s own mainnet. On the same day, it was reported that the total transaction fees generated by the Arbitrum network remained below $15,000.

DeFiling data also shows that the total value of assets locked on Robinhood Chain has reached approximately $757 million, while the stablecoin market capitalization has reached $833 million.

As a result of these developments, the price of Arbitrum ($ARB) also increased.

*This is not investment advice.

After a sharp rise in Bitcoin and altcoins, the trend has recently turned downwards, but a new study published by ARK Invest and Glassnode reveals noteworthy data regarding the decentralization of cryptocurrency networks.

A joint study by Ark Invest and Glassnode has revealed a remarkable picture of the decentralization of the Bitcoin, Ethereum, and Solana networks.

According to this study, in the Bitcoin and Ethereum networks, it is sufficient for three independent actors to act in coordination to reach the level considered a critical threshold. In contrast, Solana requires 19 organizations.

Three Bitcoin Mining Pools Exceed the 51% Threshold!

One of the most striking findings of the study concerned the Bitcoin network. The study revealed that Bitcoin requires three organizations each to accumulate enough processing power or stakes to influence block production.

At this point, the critical control threshold for Bitcoin is considered to be 51% of the network’s total mining power.

Research data for 2026 shows Foundry USA with 27.27%, AntPool with 17.06%, and F2Pool with 16.96% of hash power. The combined hash power of these three mining pools is sufficient to surpass the critical 51% threshold.

However, researchers also point out that this data does not mean that Bitcoin is controlled by three companies.

In Ethereum, the Critical Threshold is Three Actors!

In the case of Ethereum, the research uses a different threshold due to the structure of the Proof-of-Stake mechanism. For Ethereum, the critical threshold is considered to be 33% of the total stake amount.

According to the study, the critical threshold on the Ethereum network can only be surpassed by the total stake controlled by the three largest staking organizations. However, this does not mean that Ethereum is directly controlled by these three companies. These staking organizations perform verification on the network by pooling ETH belonging to numerous different users.

The Situation is Different in Solana!

The study concluded that, unlike Bitcoin and Ethereum, Solana requires the coordination of 19 independent assets to reach the same critical threshold. At this point, Solana sacrifices decentralization in exchange for higher performance and faster coordination.

The study concluded that even if a particular mining pool or validator constitutes a large share of the network, this does not automatically mean that the operator directly owns all of the underlying hash power or staked assets.

*This is not investment advice.