Updated: August 25, 2026, 09:30 (UTC+8) | Author: MEXC Headlines CME adds ENA reference rates for three trading sessions Germany’s number of authorized CASPs reaches 79 South Korea plans to introduceUpdated: August 25, 2026, 09:30 (UTC+8) | Author: MEXC Headlines CME adds ENA reference rates for three trading sessions Germany’s number of authorized CASPs reaches 79 South Korea plans to introduce
MEXC On-Chain Daily Report: USDT Market Cap Surpasses $180 Billion
Updated: August 25, 2026, 09:30 (UTC+8) | Author: MEXC
Headlines
- CME adds ENA reference rates for three trading sessions
- Germany’s number of authorized CASPs reaches 79
- South Korea plans to introduce a Digital Asset Basic Act this fall
- Pakistan opens its virtual asset licensing portal
- Fasset raises $68 million
Industry Updates
USDT Market Cap Surpasses $180 Billion as Stablecoin Use Expands in Emerging-Market Trade
According to Bitcoin.com News, Tether CEO Paolo Ardoino said USDT is expanding as a dollar alternative for domestic and cross-border commercial activity in developing countries. Venezuela’s peer-to-peer stablecoin trading volume is equivalent to 75% of the country’s monthly oil exports, while 90.2% of listings on the relevant P2P order book involve USDT. Stablecoin demand has remained strong in Argentina following the removal of currency controls, with some users relying on stablecoins for liquidity management and protection against local currency depreciation. Bolivia is also evaluating the integration of USDT into its financial system. USDT’s market capitalization has now surpassed $180 billion.
CCI and Blockchain Association Sue Illinois Officials Over 0.2% Digital Asset Tax
According to Cointelegraph, the Crypto Council for Innovation and the Blockchain Association have sued Illinois officials over a 0.2% digital asset tax scheduled to take effect in January 2027. The tax would be calculated based on transaction volume rather than company revenue. The two organizations argue that the measure may violate the U.S. Constitution, the Illinois Constitution, federal and state due process laws, and the Internet Tax Freedom Act. They also claim it could result in duplicate taxation. The complaint states that the rules are overly vague, shift compliance responsibilities to residents and brokers, and expose them to potential civil and criminal penalties.
ZEC Briefly Reaches $888, an Eight-Year High, as NU7 Upgrade Voting Begins on August 25
According to Odaily, ZEC gained more than 70% over the past week and briefly reached $888, marking its highest level in approximately eight years, before trading near $844. The Zcash community will conduct a token-holder vote on the upcoming NU7 network upgrade. Voting begins on August 25 and ends on September 14 at 19:00 UTC. Eligible assets must have been spendable, shielded, and held in the Ironwood pool at the time of the snapshot. The minimum participation threshold is 1 million ZEC. Supported wallets include Zodl, Vizor, Zkool, and Keystone hardware wallets. Only aggregated results will be published, with individual voting details remaining undisclosed.
Kinetiq Prepares to Launch Elysium, a Layer 2 Network for Hyperliquid
According to a post by HyperliquidNews on X, Kinetiq is preparing to launch Elysium, a Layer 2 network for the Hyperliquid ecosystem. Elysium will use HYPE as its gas token and connect with HyperEVM and HyperCore. It will support spot trading, PropAMM deployment, native oracle functions, and perpetual market creation through HIP-3. Of Elysium’s sequencer fees, 25% will fund developer incentives, 25% will go to the Kinetiq treasury, and the remaining 50% will be used to purchase KNTQ programmatically on the open market. Purchased KNTQ will be transferred to the Hyperliquid Assistance Fund and burned. Detailed technical specifications and a final launch date have not yet been announced.
Pharos and R25 Launch pRNH Vault, Providing Eligible Users With On-Chain Access to U.S. High-Yield Corporate Bonds
According to Pharos Network, the company has partnered with R25 Protocol to launch the pRNH Vault, providing eligible users with on-chain access to U.S. high-yield corporate bonds. The vault connects to the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio, jointly initiated by NYLIM and Anemoy and tokenized through Centrifuge. Users can deposit USDC on Pharos and convert it into pRNH through R25 to gain indirect exposure to the underlying HYB assets. The vault targets $100 million in assets and an annualized yield of approximately 7%, with no mandatory lock-up period. Users remain exposed to credit, liquidity, smart contract, and tokenization infrastructure risks.
Glassnode: Funding Rates for 85% of Altcoins Exceed Their Historical Averages
According to Glassnode, funding rates for 85% of altcoins are currently above their respective historical averages, the highest level recorded since Bitcoin previously traded near historical highs. The broad increase in funding rates indicates stronger demand for leveraged long positions in perpetual markets and suggests that altcoin market sentiment has entered a relatively optimistic phase. Glassnode noted that this funding-rate environment can persist for several weeks during an altcoin rally. However, elevated funding rates also increase the cost of maintaining long positions and indicate rising market leverage. A rapid price correction could therefore amplify liquidations and short-term volatility.
Trump Family’s World Liberty Financial Receives Preliminary Approval for U.S. National Trust Bank Charter
According to Odaily, Donald Trump’s family and its business partners have received preliminary approval to establish a bank. World Liberty Financial previously said the bank could hold reserve assets backing its USD1 stablecoin, potentially reducing related operating costs. OCC data show that 22 bank charter applications were approved during the first 19 months of Donald Trump’s second term, exceeding the total approved during the previous five years. OCC head Jonathan Gould said the agency aims to decide on each application within 120 days. Circle, Nu Holdings, Coinbase, and other digital asset and fintech companies have also joined the group of applicants seeking U.S. national bank charters.
Banks and Regulators Across Multiple Regions Join Post-Quantum Crypto Transfer Pilot
According to Cointelegraph, the Responsible Fintech Institute and Safeheron have launched a pilot program for post-quantum digital asset wallets and on-chain transfers. The project runs on a post-quantum NEAR testnet and uses a multiparty computation protocol supporting the ML-DSA-65 standard. Participants include Abu Dhabi Global Market, Bhutan’s Gelephu Financial Services Office, the Malta Financial Services Authority, Bison Bank, and DK Bank. The banks will test wallet generation and transfers in a shared environment, while regulators will initially observe and later participate in governance workflows. The organizers plan to publish a white paper and progressively open-source the underlying technology.
MEXC Market Heatmap
Data Note: Based on real-time MEXC market data recorded before 09:30 (UTC+8). Figures may subsequently change with market fluctuations.
New Listing Announcements: SLCW/USDT, listing time: August 25, 2026, 16:00:00 (UTC+8); TMX/USDT, listing time: August 25, 2026, 18:00:00 (UTC+8)
On-Chain Calendar
High-Risk Token Unlocks
- XPL/USDT [08-26 04:00] — 6.66M USDT unlock, representing 3.3% of circulating supply; moderate short-term selling pressure
- ALT/USDT [08-26 21:00] — 1.43M USDT unlock, representing 3.48% of circulating supply; moderate short-term selling pressure
Key Macro Events
Key Macro Events
- Aug 25, 09:30 — Australia | Reserve Bank of Australia | Monetary policy meeting minutes [The policy stance affects Australian dollar rate differentials and risk-asset capital flows]
- Aug 25, 12:00 — Australia | RBA official Jacobs | Speech [Policy signals affect Australian interest-rate expectations and the Australian dollar]
- Aug 25, 20:00 — United States | Federal Reserve official Barkin | Speech [The rate outlook affects Treasury yields, the dollar, and risk assets]
Security Alert
Users should remain alert to fake project accounts, fraudulent customer support, and malicious QR codes during new token listings and claim events. Attackers may create fraudulent claim pages for SLCW, TMX, or other newly listed tokens and distribute them through social media messages, group chats, and search advertisements. Victims may be prompted to scan a QR code, connect a wallet, or enter a seed phrase before malicious approvals are used to transfer their assets. CertiK has identified QR-code phishing as a common attack vector targeting mobile crypto users in 2026. Users should access trading and claim pages only through official MEXC and project channels, carefully verify domain names and contract information, avoid QR codes from unknown sources, and never submit private keys or seed phrases to any website.
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