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hot_img Blockworks: Q2 XRP spot trading volume decreased by 53%, RLUSD stablecoin supply increased by 257% month-on-month

Blockworks released the XRP Q2 report, with XRP's quarter-end closing price at $1.04, down 19.9%, and a market cap of $65.8 billion, still the fourth largest non-stablecoin asset. XRP ETP net inflow was $253.6 million, marking the third consecutive quarter of positive inflows, totaling over $1.9 billion. CEX spot trading volume was $57.6 billion, down 53.5% quarter-over-quarter, and perpetual contract trading volume decreased by 44%.The supply of XRPL native stablecoins increased by 195.4% quarter-over-quarter to $825.5 million, with RLUSD supply at $676.9 million, up 257%. OKX has launched RLUSD with over 280 spot trading pairs, and the Japanese Financial Services Agency has approved RLUSD as an electronic payment tool, distributed through SBI VC Trade. The total value of tokenized RWAs on XRPL increased by 102.5% quarter-over-quarter to $4.46 billion, setting a new quarterly high, with Justoken's energy-related JMWH accounting for about half. The transfer volume of stablecoins increased by 207.5% quarter-over-quarter to approximately $10 billion, with RLUSD accounting for about 90%.In terms of network activity, total transaction volume was 222.4 million (down 6.5% quarter-over-quarter), daily active addresses were 16,800 (down 10.7%), DEX trading volume was $482.9 million (down 35.9%), and transaction costs fell to $0.00024 (declining for five consecutive quarters). The lending protocols XLS-65/66 received support from 9/35 and 8/35 validators respectively, still 29 votes short of the activation threshold, with a revised version to be submitted in Q3. In terms of institutional collaboration, Ondo, JPMorgan Kinexys, Mastercard, and Ripple completed the tokenization of U.S. Treasury cross-chain redemptions, and Aviva Investors subsequently launched tokenized fund shares on XRPL.

hot_img TSMC's CoWoS orders are overflowing, and it is reported that Intel's Malaysia factory will support backend packaging

According to the Economic Daily, TSMC's advanced packaging CoWoS capacity is in short supply, and it has been reported that some backend orders have overflowed to Intel's factory in Malaysia, where Intel is assisting with packaging using part of its capacity to serve common major customers, breaking the past ecosystem competition norms. TSMC Chairman Wei Zhejia previously stated at a conference call that TSMC focuses on advanced packaging in the frontend and welcomes "more manufacturers to supply capacity" for the shortage in the backend, providing flexible alternatives for common customers.The report points out that the bottleneck in advanced packaging capacity mainly lies in the backend ramp-up speed being lower than that of the frontend process, and the widening gap in CoWoS capacity has forced orders to overflow. SemiAnalysis Chipbook data shows that approximately $1.3 billion worth of HBM has been shipped to Malaysia, and industry analysis indicates that Intel's local factory should already have the capability for large-scale HBM integration. Intel CEO Pat Gelsinger stated that the EMIB-T technology is ensuring reliable yield, and in the context of insufficient CoWoS capacity, "Intel is in a unique position to provide support." Companies with overlapping supply chains such as Unimicron, ASE Technology Holding, and Jiadeng are expected to benefit simultaneously, with Unimicron's stock price rising over 7% on that day. Intel's EMIB-T related applications are targeted for mass production by 2027.
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