Glassnode: Bitcoin holders in a floating loss state for 1-2 years and 6-12 months

Visa data shows a surge in the application of stablecoins in the commercial payment field, with approximately 17% of stablecoin related card transactions coming from commercial and enterprise card projects so far in the 2026 fiscal year. Visa has supported over 160 stablecoin associated card projects, with a year-on-year increase of nearly 200% in related payment transaction volume. Payment has become the fastest-growing application scenario for stablecoins, with an estimated annual payment scale of between 401 billion and 527 billion US dollars, of which B2B payments account for 43% in cross-border transactions.

The payment volume of Visa stablecoin associated card projects has increased by nearly 200% year-on-year, and currently supports over 160 consumer, corporate, and commercial card projects. From fiscal year 2026 to present, approximately 17% of stablecoin related card transactions have come from corporate and commercial card projects. Mark Nelsen, Global Head of Product, Business, and Money Flow Solutions at Visa, stated that businesses are seeking reliable and trustworthy ways to transfer funds, and stablecoins are increasingly appearing in commercial applications such as supplier payments, treasury operations, and cross-border commerce. Payment is the fastest growing use case for stablecoins, with an estimated annual payment volume of 401 billion to 527 billion US dollars, of which service fees, salaries, and supplier payments are 56 billion, 43 billion, and 28 billion US dollars, respectively. B2B cross-border payments account for 43%.

The Arbitrarum Security Committee temporarily blocked the activation of new Stylus contracts on the Arbitrarum One and Nova networks at 07:30 (UTC+8) on October 3rd. This restriction applies to programs and application updates that require new activation. Activated Stylus applications will continue to run, while regular Solidity contract deployment and execution will not be affected. Arbitrum officials stated that this preventive measure stems from the threat of WebAssembly program attacks against non-standard Stylus compiler toolchains. Currently, no risk of fund theft has been found, and the main concerns are on chain activity and denial of service (DoS) attacks.

US President Trump has stated that a certain degree of inflation can quickly repay $40 trillion in debt, and the market's attention to hedging the risk of fiat currency depreciation through Bitcoin has increased. The size of the US federal debt has exceeded $40 trillion, and Trump, US Treasury Secretary Scott Bessent, and Elon Musk have all mentioned that technology driven economic growth is a way to address debt pressure. The price of Bitcoin is about 30% lower than its peak of $126000 in 2025, and the market is paying attention to the logic of Bitcoin as a hedge against the decline in purchasing power of fiat currencies. (Source: Forbes)

According to Glassnode data, the average cost for 1-2 year Bitcoin holders is about $97000, and the average cost for 6-12 month holders is about $89000. Both groups are currently in a floating loss state. The daily average turnover of investors who bought at high levels during the rising phase in 2025 is at a high level this year, while investors who bought during the subsequent falling phase have less selling pressure, and the cost basis affects the selling behavior of different groups.