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The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.11% long, 50.89% short - Binance: 49.9% long, 50.1% short - OKX: 49.67% long, 50.33% short - Bybit: 50.01% long, 49.99% short

Lorenzo Valente, director of digital asset research at ARK Invest, compared Ethereum, Solana and Hyperliquid to McDonald’s, Chipotle and In-N-Out, respectively, and said the three networks reflect fundamentally different Layer 1 value-capture models, according to LaurenBlockchain. Valente said Ethereum has built the crypto market’s most successful franchise system through Layer 2 networks, but argued it captures too little rent, or fees, at the settlement layer. By contrast, Solana preserves more fees and MEV, or maximal extractable value, within its own vertically integrated system, he said. Valente added that Hyperliquid has shortened the value-capture chain the most through its vertically integrated structure, lack of VC backing and fee-based HYPE token buybacks, but faces elevated concentration risk due to its dependence on a single product, team and revenue structure.

More than $1 billion in stablecoins posted net inflows to Binance in August, a sign of a modest recovery in market liquidity, CryptoQuant contributor Darkfost said. Darkfost added that Binance has still seen about $5.1 billion in net stablecoin outflows since the start of the year, while major exchanges as a whole have recorded more than $16 billion in net outflows. BTC recovered $75,000 after rising about 25% in August, but Darkfost said the market could enter another correction phase if demand does not continue to recover.

Jamie Kurtz, founder of Helio Analytics, said the top five chains have continued to account for more than 90% of the overall market in terms of revenue and activity over the past decade since Ethereum emerged, arguing the winner-take-all dynamic is unlikely to reverse and will strengthen further through compounding. Kurtz also cited Real Vision founder Raoul Pal as saying on-chain activity is concentrated on a small number of chains, and those networks are becoming the settlement layer for the next phase, in which billions of AI agents transact at machine speed.

Solana said it generated $143 million in application fee revenue in August, equivalent to about 191.0 billion won, ranking first among all blockchain networks. The figure accounted for 38% of total global on-chain app revenue.

Michael Hubbard, CEO of SOL Strategies, which is pursuing a Solana reserve strategy, said the SGP-0002 proposal to double the pace of Solana inflation cuts was premature. The proposal raises the annual inflation reduction rate to 30% from 15%, shortening the time needed to reach the long-term 1.5% target to about 2.8 years from roughly 5.7 years. It passed on Aug. 28 with 67% support. Hubbard said Solana’s current inflation rate of around 4% to 4.5% is not excessive, and a drop in token issuance would not necessarily ease selling pressure or lift prices immediately, as a significant share of SOL issued as staking rewards is restaked. Hubbard added lower rewards could also hurt the profitability of validator operations.

Daily DEX volume on Robinhood Chain climbed to nearly $18.9 billion over the past 24 hours, setting a record high, according to blockchain data analytics platform Dune Analytics. On the token issuance side, Pons maintained a dominant lead. Pons minted 24,010 new tokens yesterday, while long.xyz ranked second with 2,740. Over the same 24-hour period, Pons generated $5.95 million in fee revenue, ranking fourth among all crypto networks and protocols globally. Uniswap also benefited from the surge in Robinhood Chain trading volume, with daily protocol revenue jumping to $10.33 million to rank second.

Ahead of the second phase of the Bank of Korea’s central bank digital currency pilot, Project Hangang, eight public petitions opposing the introduction of a CBDC have drawn a combined 420,000 signatures, Electronic Times Internet reported. After the central bank signaled it would proceed with the second-phase test, 150,000 people across three rounds in July and August this year called for public opinion to be gathered again. A petitioner in a National Assembly consent petition posted in late August argued the Bank of Korea should transparently disclose how it would protect personal data and citizens’ rights if a CBDC is introduced, while raising concerns that all fund flows could be recorded in the central bank’s system and expose personal information.

We will host a live AMA at 10:00 a.m. UTC today on whether South Korea’s planned 2027 virtual asset tax will take effect without a further delay and how much investors may owe. The session will feature Shin Byung-jin, a lawyer specializing in virtual asset taxation, and accountant Jung Sung-cheol. We said the event will cover key tax rules, reporting for overseas exchanges, DeFi and airdrops, and tips on preparing acquisition cost records tailored for investors. The 70-minute livestream will air on YouTube channel '디파이 농부 조선생.' Participants whose advance questions are selected will receive a chicken set, and additional gifts will be handed out through a live drawing.

Min Byoung-dug, senior vice chair of the Democratic Party’s policy committee, said a public hearing on a basic law for digital assets will go ahead as scheduled in late September regardless of whether the government submits its own bill. Speaking to Maeil Business Newspaper after a debate on crypto asset taxation held at the National Assembly today, Min said the hearing would be held in late September whether the government proposal arrives or not. Regarding South Korea’s Financial Services Commission’s plan to submit the government bill to the National Assembly’s Political Affairs Committee in early September, Min said it may come in a somewhat eased form, signaling possible relaxation of rules limiting the equity stakes of major shareholders in crypto exchanges, an issue widely cited as a key sticking point behind delays in establishing a legal framework for the bill.

Well-known cryptocurrency trader Ali Martinez said on X that BTC fell 5.82% from $81,474 on Aug. 28 to $76,732, while whales continued to accumulate. Over the same period, whales bought about 6,765 BTC worth $521 million, Martinez added.

KB Kookmin Bank will launch a payment service for import and export companies using JPMorgan’s blockchain-based payments network, Digital Asset reported. According to JPMorgan on Sept. 2, local time, the bank is launching the service through the blockchain deposit account network of "Kinexys by J.P. Morgan." JPMorgan said KB Kookmin Bank is the first South Korean financial institution to use the BDA network for trade-related corporate payments. The service will be available through KB Kookmin Bank’s domestic branches and its Singapore branch, covering remittances to 10 countries including South Korea, the U.S., Singapore, Saudi Arabia, India, Thailand, Qatar, the UAE, Bahrain, and South Africa. The service will initially support U.S. dollar remittances.

U.S. Bitcoin financial services firm River said in a report that Bitcoin could rise to between $250,000 and $840,000 over the next three to five years if institutional adoption expands. River said only about 4% of the global population currently holds Bitcoin, while institutional investors that manage roughly half of global financial assets have begun allocating to BTC in earnest following the launch of U.S. spot Bitcoin ETFs in 2024. Among the top 30 U.S. registered investment advisers, 29 hold Bitcoin, but the median BTC allocation in portfolios remains around 0.1%, according to the report. River analyzed that if 20% to 40% of total investment portfolios add Bitcoin over the next three to five years and the average BTC weighting rises to 2% to 4%, between $1.3 trillion and $5.3 trillion could flow into BTC, implying a price range of $250,000 to $840,000.

U.S. spot Ethereum ETFs posted about $48.2 million in net outflows on Sept. 2, snapping a 12-session inflow streak and marking the first net outflow in 13 trading days, according to Farside Investors. - BlackRock ETHA: -$53.4 million - BlackRock staking ETHB: +$52.9 million - Fidelity FETH: -$26.2 million - 21Shares TETH: +$2 million - Grayscale ETHE: -$23.5 million

U.S. spot Bitcoin ETFs recorded a combined net inflow of about $101.1 million on Sept. 2, reversing from net outflows after one trading day, according to Farside Investors. - BlackRock IBIT: +$115.4 million - Bitwise BITB: +$4.2 million - Morgan Stanley MSBT: +$7.3 million - Grayscale GBTC: -$56.2 million - Grayscale Mini BTC: +$30.4 million

Bloomberg ETF analyst Eric Balchunas said Bitcoin’s correlation with U.S. stocks over the past six months was lower than that of gold, small-cap stocks, emerging-market equities and U.S. Treasuries. He said the trend suggests Bitcoin has shown some degree of decoupling from the U.S. stock market recently, meaning it does not always move in close lockstep with risk assets such as equities and has recently had weaker ties to U.S. stocks than other major asset classes.

A Michigan court has issued a preliminary injunction requiring prediction market platform Kalshi to continue blocking in-state users from betting on sports event contracts, The Block reported. The order converts a temporary restraining order issued in June into a preliminary injunction that will remain in effect while the related lawsuit proceeds. Under the order, Kalshi must use a geolocation-based blocking system to prevent Michigan residents and users located in the state from betting on sports event contracts. Violations could trigger fines of $500,000 per day.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $53.19 million liquidated (51.34% shorts) - ETH: $53.32 million liquidated (63.61% longs) - AKE: $29.76 million liquidated (91.24% shorts)

A newly created address bought 94,150 HYPE from FalconX, worth about $7.68 million, according to Onchain Lens.

An anonymous whale deposited 39,500 ETH worth about $95 million to an exchange, AmberCN reported. Since Aug. 30, the wallet has deposited a total of 142,800 ETH worth $345 million to exchanges over four days. It currently holds 29,735 ETH worth $70.9 million.

South Korea’s Financial Services Commission plans to operate a task force on digital asset ecosystem infrastructure through 2028, suggesting the actual implementation of the country’s proposed Basic Digital Asset Act may not be possible until around then, Maeil Business Newspaper reported. According to the FSC’s 2026 regular National Assembly report submitted on Sept. 3, the agency said it will prepare the main contents of the Basic Digital Asset Act this year through the Virtual Asset Committee and consultations between the government and the ruling Democratic Party. The report added that, in preparation for the law’s enactment and implementation, the FSC will run a task force through 2028 to prepare subordinate regulations and build related infrastructure for the digital asset ecosystem, including industry associations.

Colombian fintech startup Plenti raised $3 million in a funding round, Crypto Briefing reported. Tether (USDT) and Verda Ventures participated in the round. Plenti plans to use the funds to combine traditional financial payments and banking infrastructure with its existing crypto-focused services, while expanding digital asset offerings including USDT and XAUT.

Concerns over consistency and tax fairness in South Korea’s planned virtual asset taxation regime, set to take effect next year, point to the need for a tax framework tailored to the characteristics of crypto assets, The Asia Business Daily reported. Speaking at a forum on reviewing the 2027 virtual asset tax system held at the National Assembly at 1:00 a.m. UTC today and hosted by the office of Democratic Party lawmaker Moon Jin-seok, Park Jong-soo, head of the Korea Tax Law Association, said crypto assets should be assessed not as a single asset class but by separating them according to their transaction functions. The forum also raised questions about fairness relative to stocks. Participants said virtual assets and equities differ in their legal nature and investor protection frameworks, and therefore do not necessarily need to be treated in the same way.

BitMEX co-founder Arthur Hayes said an expansion in U.S. Federal Reserve liquidity provision could act as an upside driver for the crypto market and projected ETH would reach $10,000 by year-end. In a recent commentary, Hayes said selling pressure in French government and bank bonds could lead French banks to scale back funding in the repo market. Hayes added that if that pushes up U.S. Treasury financing costs and triggers hedge fund deleveraging, the Federal Reserve Bank of New York could expand its repo operations, increasing the Fed’s balance sheet by about $10 billion a month. Hayes said an increase in dollar liquidity during that process would expand global fiat liquidity, with the crypto market likely to benefit relatively quickly.

Decentralized perpetual futures exchange EDGE said it has been selected as the flagship FX perpetual futures exchange in the ecosystem of Arc, Circle’s CRCL USDC-optimized layer-one blockchain. Starting on Sept. 16, the local-time launch date of the Arc mainnet, EDGE plans to offer 24/7 FX perpetual futures trading beginning with USD/JPY, along with more than 150 perpetual futures products tied to U.S. stocks, commodities and cryptocurrencies. The exchange also plans to add major FX pairs in stages and introduce perpetual futures and FX spot markets using non-dollar fiat-backed stablecoins as collateral. Earlier, Circle Ventures made a strategic investment in the EDGE team in February.