Tether to Launch USDT on Bitcoin Network
Tether integrated USDT into RGB, a protocol that allows issuing digital assets on top of the Bitcoin network. This allows the stablecoin to be stored in the same wallet as BTC and used for transfers, including offline transactions. Today, USDT is already functioning in 20 blockchains, including Ethereum, TRON, Solana, Polygon, and Avalanche.
Solana Traders Drop 80%
Solana DEX trader activity has dropped significantly, and analysts attribute this to the rise of meme coin scams. In January, the number of daily users reached 4.8 million, but by August it had dropped to 900 thousand. Transaction volume has also fallen: from 45 million in June to less than 30 million now.
Bitget chief analyst Ryan Lee noted that meme coin ragpools undermine traders' trust and hinder the stable development of Solana. An additional blow was dealt by the hacking of celebrity Instagram accounts through which fraudulent tokens were advertised.
The expert also pointed to competition from other blockchains and a decline in retail player interest. As a result, Solana's share of the DEX market fell from 76% at the beginning of the year to 26% at the end of August.
Avalanche Network Leads Weekly Transaction Growth
Avalanche became the leader in weekly transaction growth after the news of the publication of US economic statistics in blockchains. According to Nansen, the number of transactions in the network increased by 66% over the week, exceeding 11.9 million, and the number of active addresses reached 181.3 thousand. In terms of growth rates, Avalanche surpassed Starknet (+37%) and Viction (+35%), although Base is the leader in total volume with 64 million transactions.
The US Department of Commerce has already posted GDP data on nine blockchains at once, including Avalanche, Bitcoin, Ethereum and Solana. The Pyth and Chainlink oracles, as well as the Coinbase, Gemini and Kraken exchanges, participated in the dissemination of information. The department emphasized that the publication is for informational purposes only. To verify the authenticity of the report, its SHA-256 hash was published, and the data itself was entered into transactions and smart contracts.
Commerce Secretary Howard Lutnick noted that decentralized storage would make economic reports "impenetrable and open to the world," strengthening the U.S.'s role as "the global hub for blockchain."
ETH Validators Move to Restaking
The volume of liquid restaking in Ethereum has reached $30 billion, writes The Block. This growth is due to the transition of validators from native staking to more profitable instruments. If ETH staking was previously considered the most reliable way to earn money, then against the backdrop of market stabilization, users began to actively look for increased profitability.
Liquid restaking provides double income: a reward for staking and additional income in DeFi. At the same time, liquidity is maintained due to derivative tokens that can be used in other applications.
Although some experts consider the outflow from native staking to be an alarming signal, the data shows the opposite - capital remains in the Ethereum ecosystem, it is simply redistributed to more profitable protocols.
Since the beginning of the year, platforms such as EtherFi and Eigenpie have grown noticeably. Analysts at The Block predict that the sector will steadily expand until at least mid-2025, reflecting the growing maturity of Ethereum users.
TRON Cuts Network Fees by 60%
On August 29, a vote on the initiative to reduce fees by 60% was completed in the TRON network. The proposal received the support of the majority of participants, Justin Sun reported. According to him, reducing costs will make the network more attractive to new users and will lead to an increase in transaction activity. Sun also noted that the TRON community plans to review the size of fees quarterly, adjusting to market conditions.
El Salvador Protects Its BTC Reserve from Quantum Threat
The government of El Salvador has redistributed the national Bitcoin reserve of 6,284 BTC (about $680 million) to 14 new addresses due to the risks associated with the development of quantum technologies. Each wallet now contains no more than 500 BTC.
The agency explained that when funds are spent from one address, its public key becomes available, which theoretically increases the likelihood of selecting a private key in the future. Long-term storage of assets in a single wallet gave a potential attacker unlimited time for calculations.
To increase transparency, a public Bitcoin Office dashboard has been created, allowing you to track the movement of funds without reusing addresses. This approach, according to the authorities, combines diversification of storage and minimization of potential threats.
