Polkadot’s DOT token slid nearly 5% in the past 24 hours, despite the network’s community approving a landmark governance proposal that reshapes its tokenomics.

On Sept. 14, the team confirmed via X that the community had passed the “Wish for Change” proposal, which sets a hard cap of 2.1 billion DOT.

The move ends Polkadot’s open-ended issuance model, which generated roughly 120 million new tokens yearly.

Currently, around 1.6 billion tokens are in circulation, meaning more than three-quarters, or 76%, of the eventual supply has already been minted.

Polkadot said it aims to stabilize its long-term economic design by introducing scarcity and winding down inflation as a funding mechanism. The change highlights a broader effort to reduce dependence on perpetual issuance and push the ecosystem toward alternative revenue streams.

DOT’s new inflation schedule

The new framework introduces a stepped-down inflation schedule beginning March 14, 2026. Under the revised model, token issuance will taper over a two-year adjustment period.

Polkadot estimates that about 1.91 billion DOT will be in circulation by 2040, which is far below the 3.4 billion projected under the old system. The final cap is expected to be reached around the year 2160.

To manage this process, the proposal outlines three schedules for reducing inflationary pressure. One option immediately cuts emissions by more than half before easing off, while another applies sharper early reductions followed by a gradual decline through the next century.

Polkadot’s ecosystem changes

The governance overhaul arrives as Polkadot works to strengthen its position against rivals like Ethereum through initiatives such as Polkadot Capital Group, which seeks to bridge traditional finance.

It also coincides with the return of co-founder Gavin Wood as CEO of Parity Technologies, the blockchain network’s development arm.

Yet these moves have failed to halt the token’s slide.

At press time, DOT trades at roughly $4.20, according to CryptoSlate data, marking a fresh 24-hour decline of nearly 5%.

The drop compounds a broader downturn, with the asset losing about 34% of its value since the start of the year.

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XRP Exchange reserves have surged by 1.2 billion in just a day, presenting a bearish outlook for the XRP price. This development comes as the token looks to hold above the psychological $3 level. 

XRP Exchange Reserves Increase By 1.2 Billion In Just A Day

A CryptoQuant analysis by CryptoOnchain revealed that XRP Exchange reserves jumped by 1.2 billion in a day across four crypto exchanges, with Binance leading the surge. Bithumb, Bybit, and OKX also experienced a major increase in their reserves, a development which CryptoOnchain noted shifted the volume of XRP’s reserves in an unprecedented manner. 

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Binance saw its reserve holdings increase from around 2.928 billion XRP to 3.538 billion XRP, an increase of over 610 million XRP in a single day. Meanwhile, Bithumb saw its holdings increase from 1.647 billion to 2.519 billion, Bybit’s holdings increased from 188 million to 380 million XRP, and OKX’s XRP reserves jumped from 112,000 to 233 million. 

This development is typically bearish, as an increase in crypto exchanges’ reserves indicates that investors are offloading their coins. This would also explain why XRP has underperformed in recent times and has struggled to hold above the psychological $3 price level. During this period, other altcoins like Solana and BNB have outperformed XRP, reaching new local highs.

Accumulation Rather Than Sell-offs

CryptoOnchain revealed that the increase in XRP Exchange reserves is a case of accumulation rather than the typical sell-offs. The analyst noted that the price chart indicates that this heavy accumulation occurred precisely at the key support level of around $2.73, a level that has previously prevented the altcoin from experiencing massive declines. 

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The analyst then pointed to the RSI and MACD indicators a day after the increase in the XRP Exchange reserves, which shows a decrease in selling pressure on the token.CryptoOnchain explained that this could mean that the heavy buying by exchanges was aimed at accumulation rather than immediate injection into the market. 

CryptoOnchain also noted that the pattern of these large accumulations across the crypto exchanges and at a critical support level could be a sign of institutional coordination or an upcoming event. Notably, the XRP ETFs could launch next month, which would represent a significant development for the XRP price. 

The analyst stated that if the current support holds and buying volumes continue, the XRP price could rally to higher resistances at $3.34 and $3.58. However, CryptoOnchain warned that if the support is broken, selling pressure could turn the increase in XRP Exchange reserves into an opportunity for massive supply. 

At the time of writing, the XRP price is trading at around $3.06, up over 2% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Adobe Stock, chart from Tradingview.com

US-listed spot Bitcoin exchange-traded funds (ETFs) are seeing a sharp reversal in fortunes this month, attracting nearly $2 billion in fresh inflows after a bruising August marked by heavy redemptions.

Data from SoSoValue shows that 12 Bitcoin ETF products logged inflows in six of the first eight trading sessions of September. Over the past four sessions alone, they have drawn roughly $1.7 billion, signaling a clear resurgence in investor appetite.

The consistency of these inflows contrasts sharply with August, when the same funds suffered $751 million in outflows.

The trend has also widened the gap with Ethereum, the second-largest crypto by market capitalization.

While Bitcoin products have attracted significant fresh capital this month, Ethereum investment vehicles have recorded over $550 million in outflows over the same period.

Nick Forster, founder of the on-chain options platform Derive, told CryptoSlate that this divergence highlights shifting sentiment from Ethereum back to Bitcoin.

According to him:

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“ETH inflows have slowed considerably, while BTC saw a meaningful spike in institutional buying yesterday. The smart money appears to be rotating back into BTC, possibly taking a breather from ETH beta after its recent run.”

Bitcoin ETFs now drive price action

The latest flows reinforce ETFs’ growing role in shaping Bitcoin’s price trajectory.

André Dragosch, head of research at Bitwise Europe, noted on X that daily net ETF flows have become the strongest determinant of Bitcoin’s market direction since US regulators approved the first spot products earlier this year.

According to him:

“Since early 2024 and the US ETF approvals, daily net flows have shown a significantly stronger correlation with subsequent returns, underscoring the extent to which institutionalized demand via ETPs now shapes price discovery.”

Notably, this is evident in the top crypto’s recent price performance. This month’s recent spate of inflows coincided with Bitcoin’s price consolidating near $114,000 and reversing the several weeks of weak performance.

Considering this, Dragosch stressed that:

“Bitcoin ETPs have become far more than an investor convenience. They are now a crucial determinant of market liquidity, performance, and the evolution of Bitcoin’s broader ecosystem.”

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According to recent data by Token Terminal, tokenized real-world assets (RWAs) are already nearing $300 billion, a milestone that was projected to be reached in 2030. An additional report by RedStone Finance found that RWAs on-chain could hit as much as $30 trillion by 2034.

While most of the momentum is made up of stablecoins like USDT and USDC, with Ethereum and Tron emerging as the big winners in asset tokenization, don’t blink and miss the broader trend: stablecoins lead, but funds are rising.

On-chain funds, treasuries, and bonds are all rapidly carving out a bigger slice of the pie, moving capital markets from sleepy bank vaults onto global, blockchain rails that trade around the clock.

Tokenized RWAs: beyond dollars and stocks

Tokenized RWAs include much more than dollars in disguise. Earlier this week, Coinbase announced that it would launch Mag7 + Crypto Equity Index Futures to create the first US-listed futures product that combines traditional equities and crypto exposure.

Government bonds like Ondo USDY and BlackRock’s BUIDL, tokenized money-market funds, gold tokens such as PAXG, and even fractionalized real estate shares are now also a reality.

Commodities aren’t left behind either. There’s over $2.5 billion in digital gold, $500 million in tokenized oil, and millions in tokenized silver, agricultural goods, and even carbon credits.

Larry Fink, CEO of BlackRock, calls tokenization a “revolution” in investing, envisioning a future where “every asset can be tokenized” and traded with global reach and instant settlement.

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This isn’t just fintech hype. According to McKinsey and Token Terminal, institutional adoption is ramping up; tokenized RWAs alone are set to double in size as funds and treasuries jump ship to the blockchain.

The implications of 24/7 access to traditional financial assets

The move beyond stablecoins highlights a new era for capital markets, and the implications are far-reaching. Imagine having 24/7 access to traditional financial (TradFi) assets, democratized by fractional shares, with no more waiting days for trades to settle.

Rather than relying on a centralized provider or a shadowy broker, every transaction is traceable and programmable, with assets directly managed on decentralized platforms, fast-tracking liquidity and efficiency.

As funds and institutional assets sprint on-chain, the $300 billion milestone that was expected to be hit in 2030 marks not just growth but a sea change: the financial system is stepping off Wall Street and into global, programmable networks, changing where (and how) finance happens.

Stablecoins were the start. Now, the tokenization wave is carrying funds, bonds, commodities, and even art. The next chapters? Real estate, private credit, and markets yet to be imagined, all open, frictionless, and unstoppable.

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World Liberty Financial now carries a market value near $5.6 billion. However, many of us who watched WLFI’s debut are still unsure what the project actually does, what has shipped, and what, if anything, is new.

To date, deliverables include USD1, governance voting, and a proposed Aave v3 money market. Let’s weigh those elements against the valuation and ownership incentives that frame WLFI’s first days of trading.

World Liberty Financial’s WLFI token began public trading on Sept. 1 after holders voted to allow transfers.

The launch put a multibillion-dollar value on a token that started life as nontransferable, raising an immediate question for investors assessing a roughly $5 billion to $7 billion market value: what is substantively new here?

What has WLFI actually shipped?

The project describes WLFI as a governance asset. Holders can vote on proposals, including the July decision to make WLFI tradable, but published materials and third-party explainers do not show equity, revenue rights, or other cash flow tied to the token.

That framing, governance without economic rights, remains the clearest documented utility as of this week. The shift to tradability came by vote and does not add a claim on protocol revenue.

What has shipped around WLFI is largely adjacent infrastructure. USD1, a dollar stablecoin issued by the same venture, is live with custody and infrastructure provided by BitGo, and Binance announced a USD1 spot listing in May.

These elements establish fiat on-chain plumbing but accrue no direct economic right to WLFI holders.

The flagship money market that would mark clear DeFi utility, a proposed Aave v3 instance branded for WLFI, has gone through Aave governance checkpoints. However, there is still no public, verifiable WLFI front end or running market for users.

The Aave forum shows a temp check and an ARFC thread for an Ethereum deployment, yet no production launch is documented on Aave’s site or WLFI’s public channels. As Aave governance records indicate, the idea exists on paper, not as a usable market today.

Trading began via a staged unlock and a Lockbox claiming flow. Exchange communications reference pre-market perpetuals that transitioned alongside the spot go-live, and multiple venues now show WLFI pairs or price pages, with activity on Binance, OKX and Bybit.

The mechanics concentrated the initial float, with only a fraction of the supply unlocked for early investors. Per Bybit’s pre-market notice, OKX, and day-one reporting that pegged market value in the mid-single-digit billions.

Is WLFI really worth its multi-billion valuation?

Ownership and incentives sit at the core of the valuation debate. Reporting places the Trump family’s exposure near a quarter of the token supply through affiliated entities, with new wealth on paper following the trading switch.

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Reuters further reports that DT Marks DEFI LLC, tied to the family, holds equity and revenue rights in World Liberty Financial and has already realized hundreds of millions of dollars from the venture’s activities. Those arrangements pertain to the operating company, not to WLFI token holders.

For readers tracking the project’s history, WLFI’s path from teaser to tradability is well documented. Prior reporting on whitelisting, funding totals, ecosystem tie-ups, and the July vote covers the raise and treasury activity, the Sui partnership, and the governance vote. The through line remains a governance token with voting rights alongside a custodial stablecoin.

The novelty question, therefore, resolves to design and delivery. A governance token that gains tradability by vote is common across crypto projects, and a custodial dollar stablecoin with qualified trust custody resembles existing large issuers.

The proposed Aave deployment could create a natural venue for USD1 and begin to connect WLFI governance to visible market parameters, but until a public instance is live, there is no documented cash flow, fee share, or protocol discount that accrues to WLFI holders.

The differentiators to date are distribution and brand, not technical design. That leaves little that is new.

True novelty would require governance that directly sets parameters across integrated markets, on-chain revenue routing with verifiable attestations, or contract-level controls that make votes binding on fees, risk limits, and emissions.

None of that is live.

As delivered, WLFI matches prior patterns, a voting token, a custodial stablecoin, and a planned market.

Until a public deployment shows votes changing production settings and producing measurable holder benefits, WLFI remains an aggregation of existing parts rather than a new token design.

As of Sept. 3, the token’s concrete holder utility is the ability to vote, the stablecoin exists, and the rest is still pending execution.

Put plainly, for a market now valuing WLFI in the mid-single digit billions, the project has shipped fairly basic DeFi products, while its advertised lending market has not launched in a way users can touch.

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Crypto Journalist

Anas Hassan

Crypto Journalist

Anas Hassan

About Author

Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

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August 30, 2025

Japanese nail salon operator Convano has officially launched its Bitcoin (BTC) acquisition strategy, following its ambitious plan to raise approximately ¥434 billion ($3 billion) to purchase 21,000 Bitcoin, equivalent to 0.1% of the total supply.

According to an August 30 Bloomberg report, the Tokyo-listed nail salon company plans to become one of the world’s largest corporate Bitcoin holders.

In response, Taiyo Azuma, Director of Convano’s BTC Holding Strategy Office, outlined a three-phase Bitcoin acquisition plan, with a target of 2,000 BTC by the end of 2025.

The portfolio is expected to reach 10,000 BTC by August 2026, as Azuma stated, “Our goal is clear. By March 2027, we aim to acquire 21,000 BTC and become one of the world’s leading Bitcoin-holding companies.“

Convano Bitcoin Acquisition Strategy Is a Response to Japan’s Economic Pressures

Convano frames its BTC pivot as a strategic response to macroeconomic challenges.

A prolonged decline in the yen, approximately 21% weaker against the dollar over the past decade, has increased costs for wages and raw materials in its consumer services business.

“We started to think about Bitcoin because of persistent yen depreciation and geopolitical risks,” Azuma told Bloomberg. “Bitcoin is a long-term store of value.”

Of the funds Convano has raised to date, ¥4.5 billion came from corporate bonds, and it has acquired 365 Bitcoin with it.

The Bitcoin acquisition announcement has driven Convano’s stock higher, with shares climbing 223.27% in the past month and surging 1,414.68% YTD.

Japan has become an unexpected hub for Bitcoin accumulation through publicly listed companies.

Metaplanet Inc., a former hotel operator, now holds nearly 19,000 Bitcoin, ranking among the top 10 global holders.

According to Bitcoin Treasuries, seven Japanese companies now rank among the top 100 public firms holding BTC.

However, the sustainability of crypto treasury strategies remains a topic of debate.

Bitcoin acquisition leaders like StrategyB (formerly MicroStrategy) face challenges as MSTR stock has declined 15.35% over the past 30 days while Bitcoin trades 12.85% below its two-week high of $124,457.

If StrategyB could face this risk, a heavy drop in Convani stock means its financing model can collapse.

When asked about concerns regarding Bitcoin price volatility, Azuma believes the perceived risk is actually beneficial.

According to him, Convano welcomes Bitcoin price drops for four reasons.

First, lower prices allow the company to acquire more Bitcoin. Secondly, higher volatility increases the company’s revenue.

He added that the combination of “low rates and high volatility” creates optimal conditions for reaching the 21,000 BTC goal. Lastly, the company can effectively manage associated risks.

Experts Warn Bitcoin Acquisition Strategy Built on “Shaky Ground”

However, experts like VanEck’s head of digital assets research Matthew Sigel argue that Bitcoin treasury strategies adopted by public companies rest on “shaky ground”, with rising risks that could wipe away shareholder value.

According to Sigel, when stocks trade significantly above their Bitcoin net asset value (NAV), issuing new equity generates premiums.

However, once stock prices approach parity with the value of Bitcoin holdings, dilution occurs.

“That is not capital formation. It is erosion,” Sigel wrote.

He suggests that companies using Bitcoin as a treasury asset should implement safeguards, such as pausing ATM programs and prioritizing stock buybacks while premiums exist.

Glassnode lead analyst James Check shared similar concerns about the longevity of corporate Bitcoin treasury strategies.

“My instinct is the Bitcoin treasury strategy has a far shorter lifespan than most expect,” Check posted on X in July.

Check argued that while early adopters, such as MicroStrategy, which holds nearly 600,000 BTC, have established their dominance, newer treasury firms face steeper challenges.

“Nobody wants the 50th treasury company,” he noted, warning that investors increasingly demand clear differentiation rather than another firm simply adding Bitcoin to its balance sheet.

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Ethereum (ETH) exchange-traded funds (ETFs) are set to close August 2025 with total net inflows exceeding $4 billion, significantly outpacing their Bitcoin (BTC) counterparts, which recorded more than $600 million in outflows during the same period.

Ethereum ETFs Outshine Bitcoin ETFs

According to data from SoSoValue, spot Ethereum ETFs have attracted $4.04 billion in net inflows so far this month. In contrast, spot Bitcoin ETFs saw $628 million in net outflows in August.

Among Ethereum-focused funds, BlackRock’s ETHA ETF leads the market with $16.88 billion in net assets as of August 28. Grayscale’s ETHE follows with $4.80 billion, while Fidelity’s FETH holds $3.56 billion. 

The total net assets tied in spot ETH ETFs currently stands slightly above $29.5 billion. This figure represents almost 5.5% of Ethereum’s total market cap.

On the Bitcoin side, BlackRock’s IBIT remains the leader with $83.8 billion in net assets, followed by Fidelity’s FBTC at $22.45 billion and Grayscale’s GBTC at $20.01 billion.

Although BTC ETFs still dominate in overall value, the latest data suggests the gap between Bitcoin and Ethereum investment products is narrowing. If the current momentum continues, August 2025 could mark the month when ETH ETFs outperformed BTC ETFs by their widest margin yet.

One of the major factors driving Ethereum ETF inflows is ETH’s growing appeal as a balance sheet asset. Corporate adoption of ETH has accelerated this year, bolstering confidence in its long-term role in institutional portfolios.

This year, several notable companies announced plans to add ETH to their balance sheets. For instance, SharpLink Gaming recently doubled down on its ETH bet, adding another 56,533 ETH to enhance its ETH reserves.

Similarly, ETHZilla – an Ethereum treasury company – recently increased its total ETH holdings to more than 102,000 ETH. Data from CoinGecko shows that, currently, BitMine is the leading publicly-listed company with the largest ETH reserves – holding over 1.7 million ETH.

Will ETH Surge Past $5,000?

Institutional sentiment toward ETH continues to strengthen. VanEck CEO Jan van Eck recently described ETH as “the Wall Street token,” highlighting its growing role in enabling stablecoin transfers across financial institutions.

Despite its recent rejection from close to $5,000, the overall demand for ETH remains vehemently strong. As a result, ETH reserves on exchange continue to dwindle at a rapid pace, which may lead to quick price appreciation for the digital asset in the near-term. At press time, ETH trades at $4,340, down 4% in the past 24 hours.

Featured image from Unsplash.com, charts from SoSoValue, CoinGecko and TradingView.com

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Ethereum is staring down one of its most significant supply risks as more than 1 million ETH, valued at $5 billion, lines up for withdrawal from staking. The unprecedented exit queue has ignited debate over whether the network could face a wave of selling pressure or if the movement marks a rotation of capital within the Ethereum ecosystem.

Ethereum Sees Record Validator Exodus 

Ethereum faces what analysts describe as the largest validator exit events in its Proof of Stake (PoS) history. Blockchain data from ValidatorQueue shows more than 1 million Ether, worth roughly $5 billion, awaiting withdrawal. Notably, validators, who play a central role in securing the network by adding new blocks and verifying transactions, have lined up to withdraw their tokens. This surge in exits has pushed the waiting period to a record of 18 days, as of writing. 

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Etherscan also reports that on August 20, Ethereum’s validator exit queue surged past 916,000 ETH, the highest level in over a year. That figure ballooned to more than 1 million in less than two weeks, highlighting the rapid acceleration of withdrawals. At the same time, however, Ethereum’s entry queue also expanded—rising from just 150,000 ETH to over 580,000 ETH—creating a net staking increase of about 200,000 ETH in the past week. 

The timing of this upcoming withdrawal coincides with Ethereum’s significant price growth, which has seen the cryptocurrency gain more than 72% over the past few months. A substantial share of this pending Ether could be sold as stakers lock in profit after a rally. Moreover, if a large fraction of the $5 billion supply is unloaded on the open market, ETH could experience a sharp wave of sell pressure. 

However, while headline figures appear alarming, analysts caution against assuming that all withdrawn Ether will be dumped. Crypto market expert Joe Swanson notes that institutional buyers and Ethereum ETFs have been absorbing substantial amounts of ETH, thereby cushioning the potential downside. He argues that although the exit queue suggests short-term turbulence, the cryptocurrency’s long-term trajectory remains bullish, with projections still targeting levels above $5,000. 

Exits Signal ETH Market Rotation, Not Abandonment

ValidatorQueue’s data highlights that while the exit queue surpasses 1 million, the entry queue sits above 726,000. This implies a net staking outflow of over 320,000 ETH, indicating a possible rotation of capital rather than wholesale abandonment. 

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Supporting this, crypto expert Minal Thukral stressed on X that the spike in the ETH validator queue should not be misinterpreted as a crisis. Thukral noted that Ethereum’s protocol is designed to intentionally rate-limit exits to ensure network stability, meaning congestion may not be the issue. 

According to the analyst, validator exits are better understood as capital rotations. He explained that large stakers are likely reallocating funds into liquid staking services, restating, or adjusting positions in anticipation of ETFs. At the same time, demand to enter the staking queue remains strong. This interplay between exits and entries paints a picture of a maturing market, with the real question being where the withdrawn ETH will flow next.

Featured image from Pixabay, chart from Tradingview.com