📊 5. DeFi: Protocol Hacks and Synthetic Stablecoin Depegging

This week saw a hack of Balancer, one of the oldest DeFi protocols, followed by problems with Moonwell, and then a chain of events with synthetic stablecoins: xUSD, deUSD, USDX. xUSD from Stream Finance collapsed from $1.25 to $0.12 due to issues in delta-neutral strategies. Curators created risky looping strategies with LTV above 90%, and some vaults had fixed oracles, causing liquidators to fail.

➡️ This reminds us of the importance of diversification and understanding risks in DeFi: high APR is not a free bonus but compensation for increased risks.

🔗 DeFi protocol hacks analysis
🔗 DeFi synthetic stablecoin depegging analysis


🛍 6. NFT Market Loses 46% of Capitalization in 30 Days

The NFT market lost 46% of its capitalization in just 30 days, with even leading collections like BAYC and CryptoPunks losing ground. The largest declines were seen on BNB Chain and Polygon — 82% and 86% respectively. Ethereum, the largest network by NFT sales volume, lost 25% over the last month, while Solana, Immutable, and Avalanche lost an average of 30–35%.

➡️ The NFT market decline reflects a general decrease in interest in collectible assets and a shift in attention to more utilitarian blockchain applications.

🔗 NFT market capitalization drops 46 percent


🧠 7. JPMorgan Launches JPM Coin Deposit Token

JPMorgan launched the JPM Coin (JPMD) deposit token, initially available to institutional clients. JPMD represents US dollar deposits held at the bank and enables 24/7 instant transfers through the Base protocol. This is the first major bank to launch its own token for institutional clients.

➡️ This marks a new stage of institutional blockchain adoption by traditional financial institutions, where tokenized deposits become reality.

🔗 JPMorgan JPM Coin deposit token launch


📡 8. Visa Launches Stablecoin Payment Pilot

Visa is launching a pilot project for stablecoin payments to cryptocurrency wallets from corporate accounts, even if they're funded with fiat currency. The project targets content creators, freelancers, and other payroll payment options. Full launch is expected in the second half of 2026. Visa will also add support for four new stablecoins.

➡️ This turns stablecoins into a full-fledged tool for business payments, connecting the traditional financial system with blockchain.

🔗 Visa stablecoin payments pilot program
🔗 Visa adds four new stablecoins support


💰 9. UK Introduces Stablecoin Restrictions

The Bank of England proposed limits for individuals — £20,000, for companies — £10M (with possible exceptions). Issuers are allowed to hold up to 60% of assets in short-term government bonds, at least 40% — in deposits at the Bank of England. For systemically significant stablecoins, a temporary limit of up to 95% in government bonds is possible. The rules apply to pound-denominated stablecoins and will come into force after final approval next year.

➡️ This increases payment security and liquidity control but may limit the use of stablecoins for large transactions.

🔗 UK stablecoin restrictions Bank of England


🔗 10. Hyperliquid Launches Permissionless Contracts

Hyperliquid co-founder Jeff Yan reported that teams TradeXYZ, Ventuals, and Felix Protocol launched permissionless contracts on Hyperliquid. According to HIP-3, any developer will be able to launch a DEX on HyperCore provided they stake 500,000 HYPE. The market creator is responsible for its parameters: from contract specifications and oracles to leverage limits and settlement execution. Developers will be able to set their share of fees up to 50%.

This opens new opportunities for decentralized trading, where any developer can create their own market without permission.

🔗 Hyperliquid permissionless contracts launch


@ton_insights