#Altcoins
One of the most exciting charts for Altcoins.
It's no coincidence that TOTAL2 have reclaimed this bullish triangle, which has been forming for nearly 6 years.
I think very few people realize just how bullish this is tbh.
We haven't seen anything yet.
Nasdaq listed it, Solana moved it. A drone defense company did more volume onchain than on its home exchange, while Fiserv plugged in 90+ banks and credit unions. Q3 app revenue hit $365M, the tenth straight quarter Solana has led.
Here’s everything that happened this week:
📰 Headline News
- @Fiserv’s digital asset platform launched on Solana, enabling Roughrider Coin transfers across 90+ banks and credit unions
- @openstandard’s OUSD launched on Solana, with reserves at BlackRock, Lead Bank, and BNY
- Solana led app revenue for the 10th consecutive quarter, generating $365M in Q3, up 42.6% QoQ
- Tokenized Powerus ($PUSA) shares did more volume on Solana than on Nasdaq, day after listing via @sunrise and @Backpack Securities
📰 Launches
- Solana’s tokenized-equity holders reached an ATH of 1.2M, with 775K joining in September
- @sunrise brought Coinbase’s wrapped Cardano asset, cbADA, to Solana via @Chainlink CCIP
- @domaprotocol opened Frontier on Solana via @Loopscale, bringing tokenized domains onchain
- @FermiTrade launched an onchain perp DEX with verifiable first-in, first-out order matching
- @Sirius_Protocol went live with private spot and perps trading, keeping positions off the public feed
- @cloak_ag launched private payroll with spreadsheet uploads and one-click payouts
- @metaplex introduced MPL-3643, a standard for permissioned RWAs and tokenized securities with built-in compliance
- @BackpackOnchain added Solana v1 transaction support for more complex trading routes and DeFi interactions
- @jup_mobile introduced the Claynosaurz x Jupiter Card with 2% cashback, full FX fee rebates through 2026
- @DecryptMedia and @MyriadMarkets introduced The Information Exchange, connecting news and markets
- @useKled unveiled Kled V3 for collecting real-world consumer datasets in under 72 hours, powered by Solana payments
- @flint_trade_ announced its onchain perp DEX on Solana
- @proto_xyz previewed markets for trading exposure to rental GPU power usage, targeting Q4
- @DGLD_Official teased a Solana expansion for its token backed by physical PAMP gold stored in Switzerland
- @solana_devs introduced Solana Scholars, offering funded three-month research internships for PhD students
- @joinfrontier wrapped its Seoul edition, with Solana Summit Singapore next on October 6
- @SolanaEvents confirmed the next wave of Breakpoint 2026 speakers
📰 Milestones
- Solana’s September app revenue reached a nine-month high of $180M, accounting for 32% of revenue across chains
- Solana led spot DEX volume for the fifth consecutive quarter with $197B in Q3, up 16.6% QoQ
- @xStocksFi recorded $1.8B in September trading volume on @Raydium
- @Raydium crossed $6B in cumulative tokenized-stock trading volume
- @byreal_io surpassed $5B in total trading volume on its first anniversary
- @nansen_ai hit weekly ATH for x402 transactions on Solana, with payment volume exceeding all other networks combined
- Tokenized stocks pledged as collateral on @kamino exceeded the scale of any other chain by more than 3x
If you enjoyed this week’s newsletter, please share it with an RT.
Artwork by nub
JUST IN: CNBC host says "October is historically a very strong month for Bitcoin, there's only been 3 negative Octobers since 2013." 👀
"There are signs that this one could play out exactly as Bitcoiners hope...we could be ready for a bull market here" 🚀
i think Grass is an interesting example of where crypto can actually make sense as part of the product
early users contributed resources to help bootstrap the network and received ownership for participating before there was meaningful revenue
as the business matured, that model started shifting toward stablecoin payouts tied to dataset sales
to me, that progression from early ownership to revenue-based rewards is one of the more interesting ways to use crypto for coordinating a network
ETHEREUM IS STILL WAITING FOR ITS BIGGEST BULLISH SIGNAL.
2017: ISM broke above 56, and then ETH rallied from $10 to $1,400.
2020 to 2021: ISM broke above 56, and then ETH rallied from $88 to $4,800.
Today, ISM came in at 54.5, slightly below the 54.8 forecast and 54.6 previous.
So the setup is still alive, but 56 remains the key level that triggered the parabolic phase in the last 2 cycles.
ETH is currently around $2,695, sitting on the Monthly MA 50.
If ISM continues moving higher toward 60 in the coming months, we could see another massive ETH and altcoin cycle in 2027 to 2028.
Bitcoin just hit $85,000 and ETH is ripping hard, liquidating $60 million shorts in just 15 minutes.
This happened after GDP came in much higher than expected at 2.2% and PCE inflation dropped to a 6-month low.
Bitcoin just gave its Highest monthly close in 9 months.
$BTC printed three green months in a row for the first time since the bear market began.
This is the Best Q3 in the past 9 years (since 2017).
"Solana is the place where you want to go if you want to interact with spot.
It has the most amount of retail penetration. It has most amount of deep DeFi ecosystem participants, and you can really get something launched."
– @realRockyChung, @Titan_Exchange
i like Backpack’s positioning around tokenized stocks on SOL
they took the slower route early, building out the exchange, compliance and regulatory infrastructure before pushing deeper onchain
that foundation matters more as tokenized equities start scaling, especially when users want a tighter connection between onchain assets and the underlying stocks
if tokenized stocks keep gaining traction on SOL, Backpack is one of the platforms i’m watching closely
Armani Ferrante, CEO of Backpack, on what comes next for tokenized stocks.
"Not 10 stocks, not 100 stocks. We want to bring the entire stock market to Solana. One API where a real share, by any definition of the term, moves back and forth between your brokerage account and DeFi. Going from 200 symbols to 10,000 is the next leap."
@armaniferrante@Backpack
while our focus is memecoins, it's been great to see all the products launching on pumpfun in recent weeks
the quality of the products and level of talent is extremely refreshing and I'm confident that they'll be a core driver of the onchain golden era
pumpfun remains the best place for builders to bring products to market & access instant liquidity, and more importantly, attention
we'll be keeping an eye out for more experimentation in launchpads, agents, and defi that we're certain will lead to huge outcomes for all onchain participants.
Introducing Ondo Intelligent Portfolios, the first three portfolios powered by BlackRock.
Ondo Intelligent Portfolios introduces a new onchain product category: curated investment portfolios delivered as single onchain transferable tokens.
The first three portfolios are based on portfolio strategies developed by BlackRock for Ondo, marking the first time eligible onchain investors can access exposure to such strategies through a single token.
1. BLKHIon: Ondo High Income Powered by BlackRock
2. BLKDIGon: Ondo Diversified Growth Powered by BlackRock
3. BLKGRWon: Ondo High Growth Powered by BlackRock
Diversified, professionally constructed strategies have historically required brokerage accounts and traditional fund structures. Now, delivered as peer-to-peer transferable tokens from Ondo, these onchain portfolios become accessible to eligible non-US investors in permitted jurisdictions through the wallets, exchanges, and DeFi applications they already use.
“Tokenization creates new ways for portfolio strategies to be delivered through digital infrastructure. Diversified portfolio strategies can be incorporated into tokenized investment products, enabling eligible investors to access diversified allocations through a single instrument. It shows how established portfolio construction approaches can be delivered through new channels and technologies.” - Lisa O’Connor, Global Head of the Model Portfolio Solutions team and Co-CIO for Global Solutions within the Multi-Asset Strategies group at BlackRock
Ondo Intelligent Portfolios can unlock novel capabilities:
→ Programmatic rebalancing
→ Full composability with DeFi
→ Complete transparency onchain
→ Multiple asset classes in a single token
This is just the start for Ondo Intelligent Portfolios. The infrastructure is now in place for leading financial institutions to bring their asset allocation expertise onchain.
this cycle isn’t like any other cycle
the closest comparison i see is the 2020 DeFi expansion, when an entirely new vertical brought billions of dollars onchain
this time, stablecoins and especially tokenized stocks are opening another new lane for crypto
institutional capital, retail and developers are all entering through different channels, while the market structure itself has played out differently from prior four-year cycles
trying to map this cycle one-to-one with the last one could miss what’s actually changing in front of us