Stablecoin Payments, The Trillion Dollar Opportunity. Read how Stablecoins could drive $1T in payments. Written with @Bitso and expert insights from @Circle @Ripple @Sphere_Labs @OndoFinance @FDLabsHQ @BVNKFinance @ConduitPay @gnosispay @MANSA_FI.

We'll attend @rwasummit by @centrifuge. And we may have a big announcement to share… 👀. September 16 - 17.Stay tuned.

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ETH’s rebound has momentum, but ETHBTC near 0.04 looks stretched after weeks of inflows. Cyclical flows alone may not sustain outperformance. Meanwhile, Bitcoin’s role as a reserve asset keeps institutions buying dips, not exiting.

Ethereum ETFs now hold 6.74m ETH (5.6% of supply). Since July, ETH ETFs have gained $6b while BTC ETFs lost $500m, marking a sharp institutional rotation that’s lifted ETHBTC back above 0.04.

RWAs shone, with sector AUM up 6% WoW, powered by @centrifuge 206% surge following a $1b Grove allocation into its AAA CLO fund. RWAs are becoming DeFi’s growth engine. If institutional allocations keep pace, they could overtake yield platforms as DeFi’s core driver into Q4.

Stablecoin rates fell as inflows outpaced demand this week. USDC APY was down 11.3% WoW amid $1.26b @aave deposits. WETH yields slipped 6.5%, even as supply contracted, underscoring muted ETH borrow appetite.

The reset in leverage sets up majors for the next leg higher. ETH holding $4,260 support keeps a $5k breakout in play, while SOL’s treasury pipeline could drive the asset to test the $220-250 range, and BTC may lag near term but still looks on track for $120k+ retests into Q4.

Majors pulled back this week. BTC was down 3.9% after $150m in liquidations, $ETH fell 6.6%, and $SOL fell 2.8% despite $2.5b treasury buy announcements. Derivatives cooled, while funding stayed muted. Altcoins slumped 5.3% WoW, with breadth deteriorating.

Labor softness and a dovish Fed tilt strengthens the case for a Sept cut, giving risk assets cover. Yet with equities at record highs and cuts often priced in early, positioning may turn defensive even as BTC’s pullback fits within a broader bull trend.

Last week, markets were mixed as $BTC -3.3% erased its Jackson Hole bounce, gold surged +3.1% on rate-cut bets, and the S&P hit all time highs. Attention now turns to the August jobs report (Sept 6), CPI (Sept 11), and the Fed’s Sept 17 decision.

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RT @KeyrockTrading: Keyrock Offsite, Athens - 2025 🇬🇷. 180+ people, 1 week in Athens. More than an offsite: it was laughter, ideas, late-ni….

Keyrock Offsite, Athens - 2025 🇬🇷. 180+ people, 1 week in Athens. More than an offsite: it was laughter, ideas, late-night talks and big dreams shared. Grateful for every moment, every person, and the future we’re building together. Until next summer.

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Our latest livestream was packed with insights, with Stablecoin Payments at the center of the discussion. Missed it? The recording is now available. With Arnold Lee (@Sphere_Labs), @reidbenj (@Bitso), @JuliaMorrongiel (@BVNKFinance) & our @stefwynendaele.

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ETF inflows, rate cut bets, and looming altseason are fuelling the build. Funding rates are steady and not yet overheating. The setup points to near-term chop as liquidations drive volatility, but with ETH primed for a potential $6k breakout, total OI could breach $300b by EOY.

Crypto OI surged to ATHs of ~$218b, reflecting a wave of renewed market participation. While @binance still dominates, @Bybit_Official and @bitgetglobal now hold significant share. ETH and alts now account for 55% of OI, with ETH alone at 34%, showing clear rotation from BTC.

RWAs were flat at ~$26b. Ondo outperformed while Maple saw redemptions. Liquidity is concentrating in majors; ETH, USDC, and Ondo, which is fragile if any leg of this reinforcing cycle wobbles. With further rate cuts looming, stables and RWAs look primed for the next inflow wave.

Onchain lending rates diverged this week as capital rotated. $USDC APY rose 6.6% despite falling supply, while $USDT slipped 23.9% as deposits nearly tripled, though it still pays a premium over USDC. WETH supply jumped 65%, showing lenders leaning back in.