OVERVIEW

Smells Like Alt Season

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

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News In Three Sentences
Bitcoin, Ethereum, And Solana News 🪙 

📉 Solana DeFi Crash Wipes 30% off PayPal’s PYUSD

PayPal’s PYUSD took a hit, dropping 30% in market cap over the last month as Solana DeFi incentives fell by half. Solana’s PYUSD pool shrank from $662 million to $364 million, but Ethereum’s side of the stablecoin held steady at $340 million. Despite the hit, PYUSD’s daily volume is still strong, so it’s not all doom and gloom. CryptoSlate.

⚡ Unlocking Bitcoin’s DeFi Potential

Chainlink believes wants to bring their BTCFi to bring decentralized finance to Bitcoin. LINK, they believe, is the key to unlocking the massive liquidity currently locked up in cold storage. Time to put those idle Bitcoins to work. Chainlink’s blog.

News In Three Sentences
Altcoin News 📰 

🚨 Terraform Labs to Shut Down Products if No Buyer Steps In

Terraform Labs has set an Oct. 30 deadline to wind down its products and services if third-party buyers don’t step up. The company’s still in talks with potential buyers, but with no deals yet, services like the Luna Foundation Guard and the Terra blockchain explorer could soon be gone. Terraform’s community might need to take over if no savior appears. Cointelegraph.

🌍️ Worldcoin Spikes 25% on World ID Expansion

Worldcoin (WLD) is on fire, jumping 25% to $2.18 after its World ID digital passport expanded to three new countries. Guatemala, Malaysia, and Poland are the latest additions, helping Worldcoin outperform all top 100 tokens in daily gains. WLD has been riding high since rebounding from its $1.35 lows earlier this month, gaining nearly +70%. CoinJournal.

🛑 Curve Finance Weighs Ditching TUSD After SEC Charges

Curve Finance is looking at dropping TrueUSD (TUSD) as collateral for crvUSD after the SEC filed charges against TrueCoin for fraud. A governance proposal calls for removing TUSD backing entirely to avoid any regulatory fallout. The plan also suggests cutting back on PYUSD to reduce exposure to risky assets. CoinJournal.

🚀 Space Nation Soft Launches on Immutable X with Character Customization

Space Nation is set to soft launch on Immutable X on September 27th, showcasing its new character customization feature. Players can get an early look at what the full Space Nation universe will offer once fully launched. Immutable on X.

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