As Cointelegraph reported, plans to launch a stablecoin pegged to Bitcoin, upcoming network upgrades, and BTC’s recent recovery may have something to do with STX’s 30% gain.

STX, the native token of the Bitcoin-focused Stacks layer-2 smart contract platform, has benefited from Bitcoin’s recovery, rising about 30% over the past seven days.

STX’s trading volume doubled over the same time frame, reaching $148.2 million as of September 26, outpacing Bitcoin’s 7.5% gain since September 18.

Let’s look at the factors behind STX’s upward momentum.

According to The Block, Base's total locked value exceeded US$2 billion for the first time, an increase of 370% year-to-date.

Decentralized exchange Aerodrome was the largest contributor to TVL growth, with deposits exceeding $1 billion.

Base, an Ethereum layer-2 network incubated by Coinbase, has surpassed $2 billion in total locked value for the first time, making it the second-largest optimistic rollup after Arbitrum.

According to DeFiLlama, Base’s TVL is currently $2.08 billion, up 370% from about $430 million at the beginning of the year.

Base acts as an optimistic aggregation and periodically publishes transaction data to the chain by processing transactions outside the main Ethereum blockchain. This approach significantly reduces the load on the Ethereum blockchain, thereby increasing its throughput. Its mainnet will be launched in August 2023.

Harris said on Wednesday that under her leadership, the United States will "recommit" to maintaining global leadership in areas that will "define the next century," The Block reported, specifically mentioning the term blockchain.

Unlike Donald Trump, the Democratic presidential candidate has remained silent on cryptocurrencies during his campaign.

Vice President Kamala Harris said in a speech on Wednesday that under her leadership, the United States will "recommit" to global leadership in areas that will "define the next century," "maintaining dominance in artificial intelligence, quantum computing, blockchain, and other emerging technologies." Her comments came during a speech at the Economic Club of Pittsburgh.

Singapore’s High Court has granted WazirX a four-month conditional moratorium to restructure its liabilities after the platform suffered a $230 million security breach, The Block reported.

Meanwhile, the entity behind the hack continues to launder the stolen funds in batches of 5,000 ETH ($13 million) via crypto mixer Tornado Cash.

Zettai Pte Ltd, the Singaporean holding company of Indian crypto exchange WazirX, has been granted a four-month stay order by the Singapore High Court to restructure its liabilities following a $230 million security breach the platform suffered in July.

Banana Gun has confirmed that it will refund 11 affected users in connection with last week’s $3 million Telegram bot breach, The Block reported. The team said they have identified a possible vulnerability in the Telegram message oracle used by Banana Gun that may have led to the attack.

Banana Gun has pledged to provide full refunds to 11 users affected by a $3 million wallet breach.

“All affected users will receive a full refund from the Banana Gun Treasury and no tokens will be sold for compensation,” the team said in an X post on Tuesday evening.

According to The Block, spot Ethereum ETFs recorded a net outflow of $79.2 million on Monday, with Grayscale's ETHE outflow reaching $80.5 million.

Meanwhile, spot Bitcoin ETFs saw small inflows of $4.5 million on Monday.

U.S. spot Ethereum exchange-traded funds recorded net outflows of $79.21 million on Monday, the largest single-day outflow since July 29.

Grayscale Ethereum Trust (ETHE) saw $80.55 million in outflows on Monday, the largest outflow since July 31, according to Sosovalue. It was the only spot Ethereum ETF to record outflows yesterday.

Ark Invest sold 44,609 shares of the ARKB Spot Bitcoin ETF on Monday, valued at $2.8 million, as the investment firm rebalanced its fund weights, The Block reported.

The firm led by Catherine Wood sold a total of $17.5 million in ARKB shares from its ARKW fund, but still holds $139.7 million in the spot Bitcoin ETF.

Ark Invest sold 44,609 shares of the ARKB Spot Bitcoin exchange-traded fund from its Next Generation Internet ETF (ARKW) on Monday, valued at $2.8 million.

The sale follows the company’s sale of shares of its own spot Bitcoin ETF on August 1, when it sold $6.9 million worth of ARKB.

U.S. Vice President Kamala Harris has spoken publicly about cryptocurrencies for the first time, pledging support for the industry while emphasizing consumer protection, Cointelegraph reported.

Harris made her first public statement on cryptocurrencies during her U.S. presidential campaign at a Wall Street fundraiser, saying she would encourage investment in artificial intelligence and digital assets.

“We’re going to work together to invest in American competitiveness, to invest in America’s future. We’re going to encourage innovative technologies like artificial intelligence and digital assets, while protecting our consumers and our investors,” Harris said at a fundraiser in Manhattan, Bloomberg reported on September 22.

According to The Block, according to data from CoinShares, digital asset investment products recorded net inflows of $321 million globally for the second consecutive week.

James Butterfield, head of research at CoinShares, said the surge was likely driven by a 50 basis point rate cut by the U.S. Federal Reserve (Fed).

Global crypto funds from asset managers including BlackRock, Bitwise, Fidelity, Grayscale, ProShares and 21Shares continued to rebound after two consecutive weeks of net outflows, with new net inflows of $321 million last week.

“The surge was likely influenced by comments from the Federal Open Market Committee (FOMC) last Wednesday, which were more dovish than expected, including a 50 basis point rate cut,” Butterfield wrote in a note on Monday.

According to The Block, decentralized exchange aggregator Jupiter has acquired blockchain browser SolanaFM.

At the same time, it also acquired Coinhall, a decentralized trading terminal for the Solana and Cosmos blockchains.

Jupiter co-founder Siong Ong announced at the Solana Breakpoint event in Singapore that the decentralized exchange aggregator has acquired blockchain explorer SolanaFM.

“By partnering with Jupiter, we will focus on increasing Jupiter’s data and infrastructure capabilities tenfold,” SolanaFM said in a post on X .

According to The Block, Singapore-based cryptocurrency exchange BingX suffered an apparent security breach in its hot wallets. Security analysts at PeckShield estimated the loss of $43 million in cryptocurrencies.

The security breach at BingX resulted in a significant loss of funds. Analysts at PeckShield noted that the loss of cryptocurrency from the incident was estimated at $43 million, although the exchange described it as “minor” and manageable.

PeckShield added that most of the stolen funds were moved in multiple batches.

In this attack, Vivien Lin, chief product officer of BingX, said that the incident was identified at around 4 a.m. Singapore time on September 20, when BingX's technical team detected "abnormal network access, suspected to be a hacker attack on the exchange's hot wallet."

Ark and 21Shares’ ARKB led net outflows among spot Bitcoin ETFs on Wednesday, with $43.41 million, The Block reported.

The U.S. spot Ethereum ETF also recorded daily net outflows of approximately $9.7 million.

U.S.-based spot bitcoin exchange-traded funds reported $52.83 million in net outflows on Wednesday, snapping a four-day streak of net inflows during which they attracted more than $500 million.

According to SoSoValue, yesterday’s outflows were led by Ark Invest and 21Shares’ ARKB, which saw $43.41 million in outflows. On Wednesday, Grayscale’s GBTC reported $8.13 million in net outflows, and Bitwise’s BITB recorded $3.95 million in outflows.

Solana’s latest Seeker device will be a Saga-like “reward magnet,” Cointelegraph reported, but Solana Labs General Manager Emmett Hollyer said it’s more than just a “Dogecoin phone.”

Solana has just revealed its latest, shiniest smartphone, the “Seeker” — it’s half the price of its predecessor, the Saga, and, according to the team, won’t rely solely on free Dogecoin.

Saga was launched in May last year and initially received poor reviews from technology critics and crypto users. However, in December, the price of Dogecoin called Bonk (BONK) suddenly increased by 1,000%, causing the device to sell out on December 16, which can be called Saga's "savior".

According to The Block, the U.S. spot Bitcoin ETF recorded a net inflow of $187 million on Tuesday, extending its positive trend to four days. With the expected interest rate cut, Bitcoin remained at $60,000 ahead of the key FOMC meeting on Wednesday. Meanwhile, the U.S. spot Ethereum ETF saw a net outflow of $15 million for the second consecutive day.

The U.S. spot bitcoin exchange-traded fund (ETF) registered net inflows of $186.8 million on Tuesday, extending its four-day positive run totaling more than $500 million.

Circle is launching its USDC stablecoin on the Layer 1 blockchain Sui, The Block reported. This marks Circle’s fifteenth network integration since launching USDC in 2018.

Circle, the second-largest stablecoin issuer, plans to launch a dollar-denominated token on the Layer 1 blockchain Sui as early as next week, Circle co-founder and CEO Jeremy Allaire said on Tuesday. The move comes amid a flurry of announcements from the stablecoin giant, including an integration with MoviePass that enables users to pay for subscriptions with cryptocurrency, and news that USDC is live in Brazil and Mexico.

As Cointelegraph reported, MicroStrategy’s $1.11 billion Bitcoin purchase was funded through a sales agreement for the sale of more than 8 million shares of the company’s stock.

MicroStrategy, a publicly traded business intelligence and software company, has announced that it acquired approximately 18,300 Bitcoins between August 6 and September 12.

The company’s Form 8-K filing with the U.S. Securities and Exchange Commission shows the purchase was valued at $1.11 billion, with an average purchase price of $60,408 per bitcoin, including fees and expenses.

The company, led by CEO Michael Saylor, has continued to expand its Bitcoin holdings over the past four years, having done so since its initial purchase on August 11, 2020.

Grayscale’s XRP Trust could pave the way for the launch of an XRP ETF, subject to approval from the U.S. Securities and Exchange Commission, Cointelegraph reported.

Grayscale Investments, a major cryptocurrency investment firm, is launching a new crypto trust tied to the XRP cryptocurrency.

Grayscale officially announced the creation and public launch of the Grayscale XRP Trust on September 12, giving investors exposure to XRP.

The Grayscale XRP Trust is immediately open for daily subscriptions to qualified individual and institutional accredited investors, the company noted. It will operate similarly to Grayscale’s other single-asset investment trusts, investing entirely in the tokens that underpin the XRP Ledger (XRPL).

According to The Block, ZKsync has officially launched its governance model and smart contracts are now activated on the mainnet.

EVM-compatible scaling solution ZKsync has officially launched its governance model consisting of smart contracts that are now activated on mainnet.

The newly activated governance system is built on a decentralized model that allows the community to participate in collective decisions about the future of the protocol. The model is built around three core institutions: the Token Assembly, the Security Committee, and the Guardians, and is designed to achieve a balanced distribution of governance power, ZKsync detailed in a blog post.

According to The Block, Starknet has approved a governance proposal called “SNIP 18” to implement staking within its network.

The proposal was submitted by StarkWare and approved by the majority of STRK token holders.

Ethereum second-layer solution Starknet has approved a governance vote to implement staking within its network, which will pay rewards to stakers based on the number of total staked tokens.

Earlier today, the proposal submitted by core developer StarkWare — called “SNIP 18” — was approved by a majority of STRK token holders.

According to The Block, Southeast Asian ride-hailing platform TADA has partnered with the TON Foundation to launch a new Telegram mini-app. The mini-app allows users to book rides directly on Telegram and pay on the TON blockchain using Toncoin or USDT.

TADA mini enables Web3 users to book a ride directly on Telegram, without the need for additional registration or app downloads, and can pay with Toncoin or on the TON blockchain.

Harvey Kim, Head of TON Foundation Korea, said: “If we want to accelerate the successful adoption of Web3 solutions, it is critical to establish strong partnerships with exciting Web2 platforms so that users can quickly become familiar with the many benefits of Web3. This collaboration is an important milestone for us as we look to continue to drive growth for the TON blockchain in Southeast Asia.”