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The Event in Detail US Senate Finance Committee to Examine Digital Asset Taxation The U.S. Senate Finance Committee is scheduled to hold a hearing titled "Examining the Taxation of Digital Assets" on October 1 at 10:00 AM ET. Key witnesses will include Lawrence Zlatkin, Vice President of Tax at Coinbase Global, Inc., and Jason Somensatto, Director of Policy at Coin Center. This session aims to clarify existing tax laws and evaluate the necessity of new legislation for digital assets, building on recommendations from the White House Digital Asset Working Group. Discussions may include proposals for a de minimis exemption for transactions under $300 and reduced tax rates on Bitcoin payments. Hyperliquid Launches Native Stablecoin USDH On September 24, Hyperliquid, a significant decentralized exchange, officially launched USDH, its native stablecoin. Issued by Native Markets following a competitive bid, USDH is backed by cash and short-term U.S. Treasury bonds. In the 24 hours preceding its launch, over $15 million worth of USDH was pre-minted, with initial trading volumes exceeding $2 million. The USDH/USDC pair maintained its peg at 1.001 in early sessions. Hyperliquid's decision to launch USDH is a strategic response to its substantial reliance on external stablecoins, particularly Circle's USDC, which accounts for approximately $6 billion of its deposits, representing 7.5% of all USDC in circulation. This move aims to internalize revenue from reserves and mitigate risks associated with external, centralized assets. Native Markets secured the issuance rights despite offering a 50% revenue share compared to competitors' offers of 95-100%. GAIN Token Experiences Significant Price Decline Post-Listing The GAIN token, associated with Griffin AI, saw a price crash of over 90% shortly after its listing on Binance Alpha and other major exchanges on September 24. On-chain data indicated a substantial issuance of 5 billion tokens. The token was launched on the BNB Chain with promises of utility within Griffin AI's agentic DeFi ecosystem, offering access to premium agents and advanced features. GSR Files for Multiple Crypto-Focused ETFs with SEC Market maker GSR submitted filings to the U.S. Securities and Exchange Commission (SEC) on September 24 for five new crypto-focused exchange-traded funds (ETFs). Notably, the Digital Asset Treasury Companies ETF proposes to invest at least 80% of its assets in the equity securities of public companies that hold significant digital assets in their corporate treasuries, such as Strategy and DeFi Development Corp. Other proposed ETFs include the GSR Crypto StakingMax ETF, GSR Crypto Core3 ETF (balancing exposure to Bitcoin, Ethereum, and Solana), and the GSR Ethereum YieldEdge ETF. These filings follow the SEC's recent approval of generic listing standards, potentially streamlining the approval process for such products. Australia Introduces Draft Digital Asset Regulation Bill Australia's government released a draft digital asset regulatory bill, aiming to extend financial sector laws to crypto platforms. The proposed legislation introduces two new financial products: "digital asset platform" and "tokenized custody platform," requiring service providers to obtain an Australian Financial Services License. This move intends to bring crypto exchanges under the oversight of the Australian Securities and Investments Commission (ASIC), addressing consumer risks highlighted by previous failures of digital asset businesses. Penalties for breaches could reach AUD 16.5 million, or 10% of annual turnover, with exemptions for smaller, low-risk platforms. DeFi Development Corp. Expands Stock Buyback Program DeFi Development Corp., a publicly listed entity focused on a Solana-based treasury strategy, announced an expansion of its share repurchase program from $1 million to $100 million. This authorization grants management the flexibility to buy back common stock on the open market under Rule 10b-18 of the Securities Exchange Act of 1934. The company has been accumulating Solana for its treasury, holding 2,095,748 SOL valued at approximately $499 million as of September 17. The firm positions itself as Solana's equivalent to MicroStrategy's Bitcoin strategy. Mira Network Unveils Tokenomics Ahead of Binance Alpha Listing Mira Network announced its tokenomics, detailing a total supply of 1 billion MIRA tokens, with 6% allocated for an initial airdrop, in anticipation of its listing on Binance Alpha. The network aims to transform real-world companies into tokenized assets on its MIRA-20 Blockchain. Bitlight Labs Hints at Upcoming Token Generation Event Bitlight Labs signaled an impending Token Generation Event (TGE) by posting the token symbol LIGHT with the date September 27 on social media platform X. The project focuses on infrastructure development related to the RGB protocol. Market Implications The confluence of regulatory actions, new product launches, and market volatility signals a complex and evolving landscape for digital assets. The upcoming U.S. Senate Finance Committee hearing could pave the way for a clearer tax framework, potentially influencing institutional investment and broader adoption by reducing ambiguity. Similarly, Australia's draft legislation indicates a global trend towards integrating crypto platforms into traditional financial regulatory structures, aiming to enhance consumer protection and market integrity. The launch of Hyperliquid's USDH stablecoin represents a strategic move by a major DeFi player to reduce dependency on external, centralized stablecoins. This initiative could inspire other protocols to develop native stablecoin solutions, fostering greater sovereignty within their ecosystems and potentially re-routing significant revenue streams from established issuers like Circle back to the DeFi platforms themselves. The competitive bidding process won by Native Markets, despite offering a lower revenue share, highlights the strategic importance of ecosystem alignment over purely financial incentives in decentralized governance. The filing of multiple crypto-focused ETFs by GSR, particularly the Digital Asset Treasury Companies ETF, could open new avenues for traditional investors to gain indirect exposure to digital assets without directly holding cryptocurrencies. This strategy, mirroring the approach of companies like Strategy, could drive further corporate adoption of crypto treasury strategies and broaden the investor base. The streamlined approval process for these ETFs, following recent SEC rule changes, indicates a potential acceleration in the integration of digital assets into mainstream financial products. Conversely, the rapid and significant price decline of the GAIN token underscores the inherent risks and speculative nature of newly launched tokens, particularly those with large initial issuances. Such events can erode retail investor confidence and draw scrutiny regarding tokenomics and potential market manipulation. DeFi Development Corp.'s substantial increase in its stock buyback program, while signaling confidence in its Solana-based treasury strategy, also represents a significant capital allocation that could be viewed as either a bullish indicator or a defensive maneuver in a volatile market. Broader Context These developments reflect a maturing, albeit still volatile, digital asset market. Regulatory bodies globally are intensifying their efforts to establish comprehensive frameworks, moving beyond initial reactive measures. This push for clearer rules in the U.S. and Australia suggests a pivot towards legitimizing "good actors" and mitigating systemic risks. The emergence of native stablecoins and diversified ETF products indicates an industry-driven innovation cycle aimed at enhancing financial infrastructure and accessibility. However, the recurring instances of extreme volatility in new token listings serve as a reminder of the speculative elements prevalent in certain segments of the crypto market. The continued comparison of strategies, such as DeFi Development Corp.'s alignment with MicroStrategy's Bitcoin treasury model, highlights the ongoing search for sustainable and scalable business models within the Web3 ecosystem. The long-term impact will depend on the successful navigation of regulatory hurdles, the resilience of innovative financial products, and the ability of the ecosystem to manage speculative excesses.
Executive Summary Binance Alpha and Binance Contracts are scheduled to list the Bless (BLESS) token for trading on September 23, 2025. This significant development includes an accompanying airdrop for users eligible via Binance Alpha Points, a strategy designed to boost early adoption and market engagement for the new asset. The listing on a major exchange like Binance is expected to provide substantial liquidity and exposure for BLESS, a token associated with a shared computing protocol. The Event in Detail Trading for Bless (BLESS) on Binance Alpha is set to commence at 17:00 (UTC+8) on September 23, 2025. Subsequently, Binance Contracts will open trading for BLESS at 17:30 (UTC+8) on the same date. Concurrently with the Alpha trading launch, an airdrop mechanism will allow eligible users to claim BLESS tokens using their accumulated Alpha Points. This dual launch strategy aims to integrate BLESS into the broader Binance ecosystem, offering both spot and derivatives trading opportunities. Bless, formerly known as Blockless, is a shared computing protocol that leverages everyday devices by connecting unused computing capacity with demand. The protocol employs WebAssembly (WASM) for security and features a proprietary node ranking and workload distribution system. The project has successfully raised $8 million in pre-seed and seed funding rounds from investors including M31 Capital, NGC Ventures, Interop, and Frachtis. Financial Mechanics and Tokenomics Bless operates on a dual-token model, featuring TIME and BLESS. The TIME token rewards contributions to the network, such as running nodes, developing applications, and creating content. TIME has a supply of 100 million per cycle (Epoch) and is destroyed after being exchanged for BLESS. Users can exchange TIME for BLESS immediately or lock it up for a delayed exchange to receive more BLESS. BLESS serves as the governance token and is central to the project's long-term value, with a fixed total supply of 10 billion tokens. Application developers are required to pay in BLESS to utilize the network's computing power. The protocol allocates 90% of its revenue towards regular buybacks and destruction of BLESS, aiming to reduce circulation and enhance scarcity. The remaining 10% is directed to the project treasury. Following the mainnet launch, users will be able to stake BLESS to earn rewards, with staked amounts influencing node workload and acting as a deterrent against malicious actions. Governance functions, including parameter adjustments and treasury usage, will be gradually introduced. Market Implications and Business Strategy Binance Alpha specializes in early-stage token discovery, with a focus on high-growth sectors such as AI agents and DeFi. This strategic listing positions BLESS within an ecosystem known for providing significant initial market exposure and liquidity. Binance Alpha's platform has demonstrated strong ecosystem momentum, with a market capitalization reaching $25.26 billion. However, performance among its listed tokens has been polarized, indicating both high potential and considerable risk for new entrants. The listing strategy for BLESS mirrors successful approaches seen in other projects introduced via Binance Alpha, where early exposure and incentivized participation through airdrops drive initial trading volume and user acquisition. The potential for a sharp price increase and high trading volume immediately after launch is significant, given Binance's market reach. This move aligns Bless's business strategy with leveraging top-tier exchange listings to establish a strong market presence rapidly, similar to how other projects have sought to gain traction in the competitive Web3 space. Broader Context and Risk Assessment The introduction of BLESS to Binance Alpha contributes to the ongoing trend of new projects seeking visibility and liquidity through major exchange listings. This event underscores the dynamic nature of the Web3 ecosystem, where innovation in shared computing protocols like Bless seeks to gain traction. The associated airdrop mechanism is a common strategy to incentivize early community participation and token distribution. However, potential investors should consider the inherent risks associated with newly listed crypto assets and futures trading. Crypto futures, which BLESS will also be part of through Binance Contracts, are complex financial instruments characterized by high market volatility, potential for liquidations due to leverage, and regulatory uncertainties. While these instruments offer opportunities for amplified gains and hedging, they also carry significant risks, particularly for inexperienced traders. The market sentiment for new listings can be highly bullish, but this often leads to price volatility post-launch, necessitating careful risk management for participants. The Bless project's fundamental value, rooted in its shared computing protocol and dual-token model, will ultimately determine its long-term market sustainability beyond initial exchange-driven momentum.
Bless Network is a decentralized computing platform designed to transform idle capacity from everyday devices into a global shared computer. Founded in SanFrancisco, USA, under the name Blockless in 2022. By leveraging laptops, desktops, and mobile devices, Bless enables applications to access distributed computing resources directly from their user base. As moreusers join, the available network capacity scales proportionally, creating a self-sustaining infrastructure layer. The network is built on its neutral application framework (nnApp) and nested node infrastructure, which allow developers to deploy compute-intensive applicationsacross heterogeneous devices. This model reduces dependence on centralized cloud providers, a common bottleneck for decentralized ecosystems. (Data from Coingecko)
Bless (BLESS) current price is $0.049455, down 45.94% today.
Bless (BLESS) daily trading volume is $113.3M
Bless (BLESS) current market cap is $91.1M
Bless (BLESS) current circulating supply is 1.8B
Bless (BLESS) fully diluted market cap (FDV) is $495.0M