Tether has frozen $2.2 million in USDT related to the $16 million outflow from CoinDCX. ZachXBT has questioned CoinDCX's claims and pointed out that the affected deposit addresses are still active recently, advising users to withdraw their funds.
David Hoffman, co-founder of Bankless, stated that Bitcoin clones reminiscent of 2017 are experiencing a resurgence in popularity. PRL rose 30% this week, reaching a fully diluted valuation of $4.2 billion; QTC surged 300% this month, reaching a valuation of $1.8 billion with a total supply of 21 million coins.
Analyst Darkfost stated that the largest Bitcoin UTXO spending activity since 2026 has occurred on-chain, with individual UTXOs exceeding $1 million in value totaling over $21 billion and involving more than 230,000 BTC. All these operations originated from the same entity. Of this, approximately $4.6 billion came from long-term holders with holding periods of 1 to 3 years. Darkfost noted that these Bitcoins were primarily transferred between different addresses, with no indication yet of them flowing to exchanges.
Hyperliquid data shows that when Bitcoin entered a bear market in August, TradeFi perpetual contract trading volume was more than three times that of native Bitcoin perpetual contracts. (glassnode)
