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Well-known trader Bonk Guy posted that market sentiment towards PONS may have dropped to a long-term low, with its comparable project PUMP currently having a market capitalization of about 2.7 billion dollars, up 17% today.PONS has an annual revenue of about 156.8 million dollars and a market capitalization of about 375 million dollars, corresponding to an annual revenue multiple of about 2.39 times; PUMP has an annual revenue of about 463.6 million dollars, corresponding to a market capitalization of about 2.7 billion dollars, with an annual revenue multiple of about 5.82 times.PUMP is the leading Launchpad in the Solana ecosystem, while PONS is the leading Launchpad on the Robinhood Chain. If the Robinhood Chain can maintain a certain level of ecosystem activity in the future, the gap between PONS's current valuation and its revenue scale may be worth noting.

American consumer confidence significantly dropped in September to its lowest level in over 12 years. The Conference Board reported that its consumer confidence index fell by 6.7 points to 81.9, the lowest since 2014. Consumers hold a more pessimistic outlook on the business environment and job market for the next six months.

Due to consumer confidence and JOLTS data, the decline in U.S. Treasury bonds has narrowed.

According to official news, the Gate perpetual contract area for stocks was launched on September 29 at 20:00 (UTC+8) with the trading of contracts for TWST (Twister BioTech), CVNA (Carvana), RUM (RUM Group), WBD (Warner Bros. Discovery), CRML (Critical Metals Company), and BWET (Breakwave Shipping ETF). Within one hour of the launch, trading bots and Order Tracking features were made available, supporting 1-20 times long and short operations.At the same time, Gate has launched CARDS (Collector Crypt) and XDP (Doppler Finance) contract trading, trading bots, and Order Tracking features. Among them, CARDS contracts support 1-10 times long and short operations, while XDP contracts support 1-20 times long and short operations. CARDS is a platform for real-world assets (RWA) of physical collectibles; Doppler Finance is dedicated to building tokenized capital market infrastructure, covering areas such as yield management, collateral asset utility release, and tokenization of real-world assets (RWA). This new addition further enriches the selection of trading targets in the Gate contract market.

According to a report by crypto.news, Chainlink announced the launch of a connectivity framework that allows banks to access the SWIFT blockchain ledger through the Chainlink platform while retaining transaction signing keys.The framework coordinates the interaction between institutional systems and ledgers through the Chainlink runtime environment, allowing banks using a self-signing model to avoid handing over authorization keys to Chainlink. The SWIFT ledger supports 24/7 tokenized deposit payments, with final settlements still completed through existing real-time gross settlement mechanisms. Seventeen banks from six continents, including ANZ, HSBC, Citibank, Standard Chartered, and UBS, are preparing to pilot tokenized deposits on the SWIFT ledger.

Former White House economic advisor and founder of Geopolitica Institute Pippa Malmgren stated in an interview published by Bitcoin Magazine that the core of the security agreement between the United States and Greenland is not the ice sheet or minerals, but the space race. She pointed out that missile tracking and satellite ground stations give the Arctic region critical strategic value and believes that Diego Garcia and the Chagos Islands will be the next focal points.Malmgren then linked geopolitics to the market, discussing U.S. debt, China's selling of U.S. Treasury bonds, and the future of Bitcoin. She mentioned that the U.S. debt-to-GDP ratio has reached 100% and analyzed the government's plan to escape debt through growth, as well as the reasons behind China's reduction of U.S. Treasury holdings.She also discussed the nationalization of cutting-edge AI laboratories and AI security, the evolution of currency from fiat to digital currency, the application of stablecoins and Bitcoin in AI agent scenarios, and topics such as Austin becoming the "new Shenzhen."

Hyperliquid has now launched the Bitcoin Implied Volatility Index Contract (BVIV), supporting up to 5x leverage, deployed by Markets.xyz.

According to Gate Europe CEO Dr. Giovanni Cunti's latest LinkedIn post, global business relies on efficient cross-border capital flows, but traditional international payments still face challenges such as multiple intermediaries, currency exchange, and limited operational efficiency.Dr. Giovanni Cunti emphasized, "Digital assets are opening up new possibilities for businesses in cross-market payments and value flows." He pointed out that stablecoins and blockchain-based payment networks can provide faster settlement speeds, higher transparency, and more flexible cross-border transaction capabilities. Beyond everyday payments, their application scenarios are rapidly expanding to areas such as vendor settlements, multinational payroll distribution, treasury management, and global value transfer.As this ecosystem continues to grow, a clear and defined regulatory framework is crucial. Europe is leading this transformation through MiCA (Markets in Crypto-Assets Regulation), which provides a unified standard for crypto asset services across the EU region. Dr. Giovanni Cunti further noted that in the long run, the value of digital assets will transcend asset trading itself, further deeply integrating into the real economy and the daily operations of global enterprises. Relying on the compliance foundation of the MiCA and Payment Institution (PI) dual licensing system, Gate Europe is deeply integrating digital asset services with traditional payment capabilities, continuously exploring a new paradigm of a highly efficient and closely connected global economy empowered by digital assets.

K33 Research Research Director Vetle Lunde analyzed that in the past 7 days, the total open interest of CME and perpetual contract BTC decreased by 49,000 contracts, marking the largest weekly decline since October 2025, during which market volatility was low and funding rates continued to decline.Unlike previous significant reductions in positions that were accompanied by forced liquidations, this round of deleveraging is more akin to proactive profit-taking, with overall market sentiment trending towards rationality.

During an interview with The Block at the Ondo event held in Seoul, South Korea, Ondo Perps CEO David Wells stated that offering perpetual contracts in the United States is a "huge opportunity," and that it is "reasonable" for Ondo to explore such expansion. He mentioned that everyone is paying attention to the U.S. because there are now more opportunities opening up that were previously impossible. However, he also noted that U.S. perpetual contract products will differ from existing products, with structures that vary from non-U.S. markets.Wells' remarks come as U.S. regulators are testing how perpetual contracts can enter the U.S. market with several companies. In August, Trump stated that the CFTC is "bringing Hyperliquid to the U.S. in a fully compliant and legal manner." Kraken's parent company, Payward, has announced plans to launch Hyperliquid's HIP-3 perpetual market for eligible U.S. customers through the CFTC-regulated Bitnomial Exchange and NinjaTrader Clearing. Coinbase has also applied to launch single-stock perpetual contracts in the U.S. Earlier this month, Ondo Finance submitted a letter to the SEC and CFTC arguing that U.S. stock perpetual contracts fall under the securities futures category as defined by the Commodity Futures Modernization Act of 2000.Wells indicated that while the U.S. version of perpetual contracts and its market structure may be similar, settlement and clearing would need to change to comply with U.S. regulations. He did not confirm any plans to enter the U.S. market, stating that the team has not "gone too far" in exploring the U.S. market.

Ethlabs stated that with the Ethereum rapid confirmation rules, the Chainlink cross-chain protocol CCIP 2 can reduce Ethereum transaction confirmation times to 12 to 24 seconds.This acceleration is an optional setting that needs to be actively enabled, and its security guarantees differ from the default path; the Ethereum full finality guarantee and the CCIP default waiting time remain unchanged.

According to SoSoValue data, yesterday (Eastern Time September 28), the total net inflow of Bitcoin spot ETFs was $31.0706 million, continuing a net inflow for 8 days. The highest single-day net inflow was from BlackRock ETF IBIT, amounting to $54.8436 million, with a historical total net inflow of $65.337 billion; followed by Grayscale Bitcoin Trust ETF BTC, with a single-day net inflow of $10.3176 million and a historical total net inflow of $2.964 billion.The highest single-day net outflow was from Grayscale ETF GBTC, totaling $23.1895 million, with a historical total net outflow of $27.865 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs was $107.816 billion, with an ETF net asset ratio of 6.42%, and the historical cumulative net inflow has reached $57.578 billion.

TSMC is considering expanding its production layout in the United States, planning to build a second manufacturing base in Dallas, Texas, which may include up to 6 advanced wafer fabs.The total investment for the new wafer fabs may exceed the $265 billion that TSMC has committed to invest in its Arizona facility.TSMC has not yet made a formal response to this news.

Spot gold rose slightly on Tuesday but remained trading below $4,200 per ounce. This followed a sell-off in the precious metals market triggered by U.S. Treasury yields rising to multi-decade highs and an increase in oil prices. IG analysts stated that gold only rebounded slightly due to market expectations that the Federal Reserve will maintain high interest rates for a longer period. Traders expect a 72.5% probability of a rate hike by the Federal Reserve in October. The market is focused on U.S. economic data, including the Consumer Confidence Index and job vacancy data.

According to Lianhe Zaobao, U.S. President Trump rejected Iran's latest proposal to reopen the Strait of Hormuz. This new round of macroeconomic uncertainty is putting pressure on risk assets, and Bitcoin has cooled off after several weeks of rapid gains, with its upward momentum stalling.In addition to geopolitical factors, the market continues to digest the Federal Reserve's interest rate hike measures and is also preparing for another possible rate hike in October. Since August 19, Bitcoin has risen by 28%, and now, Bitcoin is expected to achieve its best quarterly performance since the fourth quarter of 2024.

According to Axel Adler Jr's monitoring, although the price of Bitcoin has further risen to around $87,000, the market's profit-taking pressure is weaker than in August. During the second round of price increases, profits realized were 19% lower than during the first round, and losses also decreased.At the peak of the first round of increases on August 26, the price of Bitcoin was about $78,600, with profits realized over the past 7 days reaching $9.1 billion; at the peak of the second round on September 24, the price of Bitcoin rose to $84,100, with profits realized over the past 7 days amounting to $7.3 billion, a 19% decrease from the previous round. During the same period, losses realized over the past 7 days dropped from $2.6 billion to $1.5 billion. As of today, Bitcoin's net realized profit over the past 7 days is $4.3 billion.The Short-Term Holder SOPR has remained above 1 since August 20, indicating that the overall Bitcoin transferred by short-term holders is still in profit, but the profit margin has narrowed. At the peak on August 26, the corresponding profit margin for short-term holder SOPR was 2.8%; it dropped to 1.6% at the peak on September 23; and as of today, it has further decreased to 1%. During the pullback of Bitcoin to $76,500 on September 17, the short-term holder SOPR fell to a low of 1.003, with the profit margin for short-term holders transferring Bitcoin narrowing to 0.3%, but it did not fall below 1.

According to Farside data, the U.S. Bitcoin spot ETF achieved net inflows for the eighth consecutive trading day yesterday, with a net inflow of 31 million dollars.

According to SoSoValue data, the total net inflow of Ethereum spot ETFs is $17.0959 million. The Ethereum spot ETF with the highest single-day net inflow is Blackrock ETF ETHA, with a single-day net inflow of $15.3539 million. Currently, the historical total net inflow of ETHA has reached $13.299 billion.The second is 21Shares ETF TETH, with a single-day net inflow of $1.742 million. Currently, the historical total net inflow of TETH has reached $32.8813 million. As of the time of publication, the total net asset value of Ethereum spot ETFs is $17.692 billion, and the ETF net asset ratio (the market value as a percentage of the total market value of Ethereum) is 5.4%. The historical cumulative net inflow has reached $13.957 billion.

The Binance Futures platform will launch multiple U-based TradFi perpetual contracts on September 29, including CRMLUSDT, BWETUSDT, ACNUSDT, MPUSDT, SECZUSDT, UNHUSDT, and NKEUSDT, with specific launch times from 17:00 to 17:30, and a maximum leverage of up to 20 times.