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XRP Ledger transactions dropped from 2.81 million on August 5 to 1.57 million on August 9, representing a 44.1% decline in four days.
Hyperliquid’s quarterly protocol revenue has declined roughly 43% from its Q3 2025 peak, even as open interest reached a record of nearly $11 billion.
TUT recorded more than $42 million in 24-hour liquidations after surging over 1,100% in two days.
The crypto markets saw major developments as XRPL transactions declined around 50% while XRP hovered near $1 and Hyperliquid’s revenue continues to fall. Also, memecoin TUT saw heavy liquidations following a 1,100% rally and North Korean hackers used AI to attack crypto companies.
The number of transactions processed on the XRP Ledger (XRPL) has plunged over the past five days, signaling a slowdown in network activity as XRP continues to trade near the $1 mark.
Data from CryptoQuant shows that total XRPL transactions fell from 2.81 million on August 5 to 1.57 million as of August 9, a decline of about 44.1% in less than a week.
XRPL activity climbed from about 1.33 million transactions on August 3 to a peak of 2.81 million on August 5 before reversing course.
Transaction counts fell to roughly 2.4 million on August 6 and August 7 before dropping sharply to 1.37 million on August 8. Activity rebounded slightly to 1.57 million on August 9 but remained well below the week’s peak.
Hyperliquid's gross protocol revenue has fallen for four consecutive quarters, even as the decentralized exchange attracts record trading demand. Revenue peaked at around $357 million in the third quarter of 2025.
It then slipped to roughly $295 million, then about $217 million, and reached about $202 million in the second quarter of 2026. That marks a 43% decline from the peak.
The decline came as activity climbed, with total open interest reaching a record near $11 billion on 13 July 2026. Thirty-day perpetual trading volume reached about $178 billion.
The gap between rising activity and falling revenue traces to HIP-3, a program Hyperliquid launched in October 2025. The program lets anyone who stakes 500,000 HYPE deploy a perpetual futures market on the platform's order books.
Mastercard to acquire BVNK, a company that builds stablecoin payment infrastructure rather than issuing a consumer-facing coin.
The transaction was announced through Mastercard’s official press release, which frames the acquisition as a way to connect on-chain payments with traditional fiat rails.
The deal is reported at approximately $1.8 billion. BVNK described the tie-up in a company blog post explaining why it is joining Mastercard, centering on stablecoin settlement and payment infrastructure rather than speculative trading.
The acquisition had been reported earlier as a contested process, with coverage noting that Coinbase and Mastercard both moved to acquire BVNK in what was characterized as a landmark stablecoin deal.
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According to CoinGlass, Tutorial (TUT), a token built on BNB Chain, recorded more than $42 million in liquidations over the past 24 hours, surpassing Bitcoin and Ethereum to become the most-liquidated crypto asset during the period.
The liquidations came after a sharp rally that pushed TUT more than 1,100% higher in two days, sending the token to an all-time high of $0.2903 on August 9. It has since reversed sharply and is now trading about 42% below that peak.
The move coincided with high derivatives activity. TUT recorded $3.34 billion in 24-hour futures volume, over 23 times its current market capitalization of about $140.5 million. Total crypto liquidations reached $168.3 million over the past 24 hours.
North Korea-linked hacking group Kimsuky has built three local AI environments as part of preparations for cyberattacks targeting cryptocurrency and financial companies, according to new cybersecurity research.
Genians, a South Korean cybersecurity firm, said in a report released Monday that it found evidence of Kimsuky operating local large language model environments through Ollama, GPT4All and Msty, giving the group access to AI tools that can run without relying on external cloud services.
Running models locally allows operators to make queries without sending potentially sensitive attack information to third-party AI providers.
According to the research, the environments also support retrieval-augmented generation, which can connect an AI model with additional information supplied by its operator.
Also Read: Ethereum Price Prediction for August 2026
XRPL transactions dropped from 2.81 million on August 5 to 1.57 million on August 9. The decline indicates weaker short-term network activity as XRP continues trading around the $1 level.
Hyperliquid’s quarterly revenue has fallen from roughly $357 million to about $202 million. Changes associated with HIP-3 and the platform's evolving market structure have contributed to a divergence between trading activity and protocol revenue.
TUT surged more than 1,100% within two days before reversing sharply from its $0.2903 all-time high. Heavy leveraged trading amplified the reversal, resulting in more than $42 million in liquidations.
Mastercard is acquiring BVNK to strengthen its stablecoin payment infrastructure and connect blockchain-based settlement with traditional fiat payment rails. The transaction is reportedly valued at approximately $1.8 billion.
According to cybersecurity researchers, Kimsuky has established local AI environments using Ollama, GPT4All and Msty. Running AI locally could help operators process attack-related information without sending sensitive queries to external cloud providers.
