Ethereum Layer 2 Network Kinto Announces Closure on September 30
Ethereum Layer 2 project Kinto announced that it will officially shut down on September 30. In July, the platform suffered a smart contract vulnerability, allowing hackers to forge 110,000 Kinto tokens and cash out approximately 577 ETH, causing the token price to plummet over 95%. Although the team later introduced the “Phoenix” reboot plan, added debts and blocked financing made continued operations unsustainable. Founder Ramón Recuero stated that he would use personal funds to compensate some users and promised to return 76% of principal to Phoenix borrowers, while remaining platform assets will also be used for compensation.
Kinto’s closure underscores the significant challenges that emerging Layer 2 projects face in terms of security and sustainability. A single smart contract exploit not only destroys project credibility but also makes subsequent financing and ecosystem rebuilding nearly impossible. While teams may attempt to salvage projects through reboot plans, once market trust is lost, it is difficult to restore. This incident serves as a reminder that beyond scalability narratives and liquidity incentives, security and risk management are critical to long-term survival
Ethereum Layer 2 project Kinto announced that it will officially shut down on September 30. In July, the platform suffered a smart contract vulnerability, allowing hackers to forge 110,000 Kinto tokens and cash out approximately 577 ETH, causing the token price to plummet over 95%. Although the team later introduced the “Phoenix” reboot plan, added debts and blocked financing made continued operations unsustainable. Founder Ramón Recuero stated that he would use personal funds to compensate some users and promised to return 76% of principal to Phoenix borrowers, while remaining platform assets will also be used for compensation.
Kinto’s closure underscores the significant challenges that emerging Layer 2 projects face in terms of security and sustainability. A single smart contract exploit not only destroys project credibility but also makes subsequent financing and ecosystem rebuilding nearly impossible. While teams may attempt to salvage projects through reboot plans, once market trust is lost, it is difficult to restore. This incident serves as a reminder that beyond scalability narratives and liquidity incentives, security and risk management are critical to long-term survival
🚨 JUST IN:
* 🇺🇸 S&P 500 closes at a new all-time high of 6,587
* Bitcoin reclaims $115,000
Both traditional markets and crypto are printing fresh highs — momentum is clearly risk-on.
* 🇺🇸 S&P 500 closes at a new all-time high of 6,587
* Bitcoin reclaims $115,000
Both traditional markets and crypto are printing fresh highs — momentum is clearly risk-on.
BTC Above 110K: Calm Before the Storm or Start of a New Trend?
The recent BTC rally above 110K was fueled not by supply shocks but by liquidity support from high reserves on Binance.
Current signals:
👉 Strong reserves remain on Binance, keeping price stable.
👉 Turnover is weak, meaning only a small fraction of reserves are actively traded.
👉 No sharp contraction in reserves or liquidity, so a sudden dump looks unlikely for now.
What to watch:
👉 A retest of 120K with growing turnover + stable reserves = confirmation of new uptrend.
👉 Drop below 110K with rising reserves + falling notional_30d = sellers taking control.
👉 Stable price near 114K with weak turnover = liquidity lull, buyers waiting.
Historically, when trading volume rises for 5–7 days while price holds above highs, it signals that a short-term upward move is loading. If notional_30d grows faster than reserves, expect stronger upside momentum.
Early takeaway: Market is coiling. Watch turnover and reserves closely, they’ll lead price before the next big move.
The recent BTC rally above 110K was fueled not by supply shocks but by liquidity support from high reserves on Binance.
Current signals:
👉 Strong reserves remain on Binance, keeping price stable.
👉 Turnover is weak, meaning only a small fraction of reserves are actively traded.
👉 No sharp contraction in reserves or liquidity, so a sudden dump looks unlikely for now.
What to watch:
👉 A retest of 120K with growing turnover + stable reserves = confirmation of new uptrend.
👉 Drop below 110K with rising reserves + falling notional_30d = sellers taking control.
👉 Stable price near 114K with weak turnover = liquidity lull, buyers waiting.
Historically, when trading volume rises for 5–7 days while price holds above highs, it signals that a short-term upward move is loading. If notional_30d grows faster than reserves, expect stronger upside momentum.
Early takeaway: Market is coiling. Watch turnover and reserves closely, they’ll lead price before the next big move.
BTC’s correlation with Gold is shifting.
🔹 On the 30-day view, it’s turned negative at -0.53, showing short-term divergence.
🔹 But on the 365-day horizon, it’s still modestly positive at 0.65, reflecting long-term alignment.
👉 This flip suggests traders should watch short-term moves carefully, while remembering the broader trend remains connected.
🔹 On the 30-day view, it’s turned negative at -0.53, showing short-term divergence.
🔹 But on the 365-day horizon, it’s still modestly positive at 0.65, reflecting long-term alignment.
👉 This flip suggests traders should watch short-term moves carefully, while remembering the broader trend remains connected.
🚨 Altcoin Momentum is Heating Up!
The Altcoin Season Index has surged to 67, up from just 29 last month. This sharp jump signals stronger momentum shifting toward altcoins, showing that capital is rotating away from Bitcoin dominance and into the broader market.
Stay sharp, this could be the start of bigger moves across the altcoin space.
The Altcoin Season Index has surged to 67, up from just 29 last month. This sharp jump signals stronger momentum shifting toward altcoins, showing that capital is rotating away from Bitcoin dominance and into the broader market.
Stay sharp, this could be the start of bigger moves across the altcoin space.
🚨 BREAKING: Nasdaq-listed Sharps Technology ($STSS) has announced a strategic partnership with Pudgy Penguins to expand exposure and connectivity in the Solana digital asset treasury ecosystem.
Notably, $STSS recently acquired 2M+ SOL, signaling serious commitment to Solana’s future.
Big move bridging TradFi + NFTs + Solana.
Notably, $STSS recently acquired 2M+ SOL, signaling serious commitment to Solana’s future.
Big move bridging TradFi + NFTs + Solana.
ETF Flows Update
▪️ Bitcoin ETFs have attracted $16B net inflows in 2025, with $638M added already in September.
▪️ Ethereum ETFs saw strong demand earlier this year, hitting $10B inflows, but momentum has slowed.
▪️ After 5 consecutive green months, ETH ETFs recorded $840M in outflows at the start of September as interest cooled post-August peak.
Bitcoin continues to dominate institutional flows, while Ethereum faces short-term pullbacks.
▪️ Bitcoin ETFs have attracted $16B net inflows in 2025, with $638M added already in September.
▪️ Ethereum ETFs saw strong demand earlier this year, hitting $10B inflows, but momentum has slowed.
▪️ After 5 consecutive green months, ETH ETFs recorded $840M in outflows at the start of September as interest cooled post-August peak.
Bitcoin continues to dominate institutional flows, while Ethereum faces short-term pullbacks.
Michael Saylor is dropping hints again...
Another Bitcoin buy could be coming soon for MicroStrategy.
If history is any guide, every time Saylor signals accumulation, it sparks confidence across the market. Institutions keep stacking while retail debates.
Don’t underestimate what another purchase announcement could mean for $BTC momentum.
Another Bitcoin buy could be coming soon for MicroStrategy.
If history is any guide, every time Saylor signals accumulation, it sparks confidence across the market. Institutions keep stacking while retail debates.
Don’t underestimate what another purchase announcement could mean for $BTC momentum.
If you're still bullish on $SOL at the top for some reason, I have a bullish mid-term scenario for you (just a higher high, nothing crazy like $1k $SOL or something)
Since we still have 2-3 months of the Bull Market left, $SOL may go a bit higher than 0.618-0.786 Fib.
If the ABC gets more complicated, a Leading Diagonal scenario would fit just perfectly here
So we have a Leading Diagonal in Wave A, which means we're gonna have a B correction and then the final steep Wave C in October-November (a higher high to trap more people)
Since we still have 2-3 months of the Bull Market left, $SOL may go a bit higher than 0.618-0.786 Fib.
If the ABC gets more complicated, a Leading Diagonal scenario would fit just perfectly here
So we have a Leading Diagonal in Wave A, which means we're gonna have a B correction and then the final steep Wave C in October-November (a higher high to trap more people)
🚨 ALERT
Over $5 billion worth of short positions are at risk of liquidation if Ethereum ($ETH) climbs to $5,000.
With funding rates rising and open interest building up, a sharp move upward could trigger a massive short squeeze, adding fuel to the rally.
Are you positioned for this potential squeeze? #ETH #Ethereum
Over $5 billion worth of short positions are at risk of liquidation if Ethereum ($ETH) climbs to $5,000.
With funding rates rising and open interest building up, a sharp move upward could trigger a massive short squeeze, adding fuel to the rally.
Are you positioned for this potential squeeze? #ETH #Ethereum
📊 Ethereum Trading Volume Hits $320 Billion in August
Ethereum’s trading volume surged past $320 billion in August, marking its highest monthly volume since mid-2021.
This spike reflects renewed activity in DeFi, NFT trading, and ETH staking, alongside growing institutional interest ahead of potential ETF approvals.
With network usage climbing and demand rising, Ethereum continues to solidify its position as the backbone of decentralized finance.
Ethereum’s trading volume surged past $320 billion in August, marking its highest monthly volume since mid-2021.
This spike reflects renewed activity in DeFi, NFT trading, and ETH staking, alongside growing institutional interest ahead of potential ETF approvals.
With network usage climbing and demand rising, Ethereum continues to solidify its position as the backbone of decentralized finance.
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Coins from all time high to now
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Open Your Account on tamilbtc.com/mexc tamilbtc.com/bingx tamilbtc.com/bitget tamilbtc.com/gate
#tamilbtc #nammacrypto #cryptotamil