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## Executive Summary Stellar has announced its integration with Chainlink's suite of services, including the Cross-Chain Interoperability Protocol (CCIP), Data Feeds, and Data Streams. This strategic move aims to bolster Stellar's capabilities in real-world asset (RWA) tokenization and cross-chain connectivity, building on Stellar's robust growth observed in Q3 2025. The collaboration is poised to provide developers and institutions on the Stellar network with enhanced tools for secure data and seamless interaction with the broader decentralized finance (DeFi) landscape. ## The Event in Detail Stellar's plan to join the Chainlink Scale program and integrate its core services marks a significant development for both ecosystems. The integration will enable developers and institutions to leverage trusted data and cross-chain connectivity on Stellar. Chainlink, known for securing tens of trillions in on-chain transaction value, offers a reliable interoperability solution that powers a majority of today's DeFi protocols. This integration follows a period of substantial growth for the Stellar network. In Q3 2025, Stellar reported a 700% increase in smart contract invocations compared to the previous quarter and a 37% growth in full-time developers. The network also facilitated $5.4 billion in real-world asset (RWA) volume during the same period and was ranked as the fourth most active blockchain by Chainspect. Recent developments on Stellar include the launch of Stablecoin **PayPal USD** (PYUSD) and the arrival of **Circle's Cross-Chain Transfer Protocol** (CCTP) V2, both enhancing interoperability and usage. The deployment of **Whisk (Protocol 23)** has also introduced significant network improvements. Chainlink's native token, LINK, has demonstrated resilience, posting a 30% gain in Q3 2025 due to consistent growth in oracle adoption and DeFi integrations, despite a recent 2.8% price pullback. ## Financial Mechanics and Strategic Implications The integration of Chainlink's CCIP provides Stellar with a secure and robust framework for connecting its assets with the wider DeFi ecosystem. CCIP's consensus layer is underpinned by the same Chainlink Decentralized Oracle Network (DON) infrastructure that currently secures over $100 billion in DeFi total value locked (TVL) and has facilitated trillions in on-chain transaction volume. This adoption positions Stellar to enhance its role in the tokenization of real-world assets, a sector that recorded $5.4 billion in volume on the Stellar network in Q3 2025. Stellar's strategic trajectory is further underscored by its partnerships and technological advancements. Collaborations with entities such as **Mastercard**, **PayPal**, and **MoneyGram** have aimed to streamline cross-border payments and expand DeFi adoption. **Protocol 23** upgrades, implemented via **Soroban**, have enhanced smart contract capabilities, while low-cost transactions, averaging $0.00001 per transaction, and asset tokenization have attracted institutional investors. Stellar’s network growth reached 264.6 million transactions in July-August 2025. ## Broader Market Context and Expert Commentary The Stellar-Chainlink integration is indicative of a broader trend towards increased interoperability and the tokenization of real-world assets within the Web3 ecosystem. By incorporating Chainlink's established oracle services and cross-chain capabilities, Stellar is strategically positioning itself as a key player in a unified on-chain financial system where traditional assets and decentralized finance can coexist. This move aligns with growing corporate adoption trends in blockchain technology, as demonstrated by the launch of **PayPal USD** on Stellar. Expert commentary emphasizes that Chainlink's integration offers Stellar a crucial piece of trusted infrastructure, similar to what powers a significant portion of current DeFi. This is expected to facilitate greater institutional participation and developer activity on the Stellar network, further solidifying its position in hybrid finance solutions and emerging markets. The enhanced interoperability is projected to positively impact investor sentiment by increasing the utility and accessibility of assets on the Stellar blockchain.
## Executive Summary The crypto industry's onchain economy has matured into a **$20 billion economic powerhouse** in 2025, driven by concrete fees, active users, and real demand, according to a comprehensive report by crypto investment firm 1kx. This marks a strategic shift away from mere price speculation, with the first half of 2025 witnessing users collectively paying **$9.7 billion in onchain fees**, representing the highest H1 total on record and a 41% increase from the prior year. This growth is predominantly fueled by application-layer activities, rather than blockchain-layer fees. ## The Onchain Economy in Detail The 1kx Onchain Revenue Report (H1 2025), which aggregates verified onchain data across over 1,200 protocols, highlights a robust and expanding digital economy. The total onchain revenue for 2025 has reached **$20 billion**. The **$9.7 billion in fees generated during H1 2025** is the second-highest level recorded since H2 2021. This surge in fee generation coincides with a significant reduction in transaction costs, which have fallen over 90% from 2021 highs, leading to a **126% year-over-year application growth**. **Decentralized Finance (DeFi)** protocols continue to dominate, accounting for approximately 63% of all onchain fees. In H1 2025, DeFi generated **$6.1 billion** in fees, primarily from trading activity on decentralized exchanges (DEXs) and derivatives platforms. Noteworthy is the growth in the derivatives sector, where platforms like **Jupiter** increased its fee share from 5% to 45%, and **Hyperliquid**, launched less than a year ago, now comprises 35% of category fees. In lending markets, **Aave** remains the largest DeFi protocol with a Total Value Locked (TVL) of $39 billion, while **Morpho**, a lending aggregator, increased its share to 10% from near zero in H1 2024, now holding an $8.25 billion TVL. Beyond DeFi, newer verticals are experiencing accelerated expansion. **Wallets** saw a **260% year-over-year increase** in revenue, establishing interfaces as significant profit centers. **Consumer-facing applications** jumped **200%**, and **Decentralized Physical Infrastructure Networks (DePIN)** grew by **400%**. The report also acknowledges the impact of evolving blockchain technology, with **Ethereum's Dencun/Pectra upgrades** in 2025 reducing gas fees by 50-95% through blob transactions. This has enabled Layer 2 (L2) solutions such as **Base, Arbitrum, and Optimism** to handle 47% of Ethereum's total transaction volume at near-zero costs, driving **DeFi TVL to $38.75 billion** and fostering significant NFT sales volumes. ## Market Implications and Growth Drivers This sustained growth in onchain fees signals a fundamental shift in the crypto market towards **utility-driven value creation**. The reduction in transaction costs has directly facilitated an explosive growth in applications, demonstrating that efficient infrastructure fosters user adoption and economic activity. The increasing revenue from specific application categories underscores a maturing ecosystem where value is derived from active usage rather than speculative trading alone. Looking ahead, 1kx projects that onchain fees will reach **$32+ billion by 2026**, representing a 60-63% year-over-year increase, with this entire growth attributed to application development. The primary drivers identified for this expansion include **Real-World Asset (RWA) tokenization**, the continued development of **DePIN networks**, further **wallet monetization strategies**, and the proliferation of **consumer-facing crypto applications**. The **DePIN ecosystem** itself has already witnessed substantial growth, with its market capitalization exceeding **$16 billion by late 2025**. **Ethereum** and **Solana** have emerged as the leading blockchains for DePIN projects, hosting dozens of top-tier initiatives. Furthermore, the increasing focus on **RWA tokenization** is anticipated to transform traditional asset markets. Regulation is deemed crucial for this sector, building trust, attracting institutional adoption, and ensuring the long-term success and scalability of RWA projects by providing legal clarity, investor protection, and operational transparency. ## Broader Context and Outlook The findings from the 1kx report align with broader industry sentiments pointing towards an **institutionalized and more regulated digital asset ecosystem**. This transition is supported by projections from analyses such as Forbes', which anticipate significant institutional capital inflows into the digital asset space, exceeding **$300 billion by 2026**, alongside the expansion of stablecoins beyond **$400 billion by 2025**. The underlying trend indicates a move from purely speculative activity to a more structured and robust financial environment, where blockchain technology is increasingly recognized for its capability to generate tangible economic value through diverse applications. The increased stability and reliability of blockchain technology contribute to steady earnings despite historically lower individual user transaction costs, reinforcing the ecosystem's long-term viability.
## Executive Summary Edge & Node, the core development team behind **The Graph**, has unveiled **ampersend**, a new management dashboard designed to provide visibility, control, and compliance for payments and interactions of autonomous AI agents. The platform, which builds upon **Coinbase's x402** and **Google's A2A** frameworks, aims to address the complexities of the growing agentic economy. This initiative signals a strategic move to standardize and govern the expanding **Web3** machine economy. ## The Event in Detail **ampersend** unifies payments, policies, and visibility for autonomous agents at scale. It extends **Coinbase's x402 payment protocol** and **Google's A2A communication framework** by integrating a management layer that provides observability, automated policy enforcement, and audit-ready controls. The platform aims to resolve the fragmentation in agent interactions by stitching together payment rails and agent-to-agent communications. This development aligns with emerging standards such as **ERC-8004** for agent discovery and reputation, thereby integrating several protocol-level innovations into a cohesive operational system. The development of **ampersend** involved collaboration with significant entities, including **Coinbase**, **Google**, and the **Ethereum Foundation's dAI team**. The **ERC-8004** protocol, which provides on-chain identity, reputation, and verification mechanisms for AI agents, was jointly spearheaded by the **Ethereum Foundation's dAI team** and **Consensys**, with contributions from major institutions such as **MetaMask**, **Google**, **Coinbase**, **EigenLayer**, **ENS**, and **The Graph**. The official live launch of **ampersend** is scheduled for **Pragma Buenos Aires** on November 20, 2025. A virtual preview event titled “Powering the Agentic Economy” will precede this, taking place on X Spaces from 9:00 a.m. to 12:00 p.m. PST on October 30, 2025. This virtual session will feature representatives from **Coinbase**, **Google**, and **Ethereum**, with Rodrigo Coelho formally announcing **ampersend** and participating in a Q&A session. ## Market Implications The introduction of **ampersend** by **Edge & Node**, a prominent **Web3** infrastructure developer, underscores an increasing industry focus on operationalizing the burgeoning **agentic economy**. By offering a standardized and controllable framework for **AI agent** interactions and payments, the platform is poised to facilitate broader enterprise adoption of **AI agents**, particularly by mitigating existing compliance and management complexities. This development is expected to enhance trust and transparency within the **machine economy**, potentially attracting increased capital and fostering further innovation in the **decentralized AI (dAI)** sector. The strategic collaborations with technology giants like **Coinbase** and **Google** suggest a potential convergence between traditional tech infrastructure and decentralized protocols, establishing a significant precedent for future integrations. The prevailing market sentiment, as indicated by analysis, is bullish regarding the long-term impact of such standardization efforts on the broader digital economy. ## Expert Commentary While specific direct quotes from analysts are not available, the collaborative effort involving organizations such as **Coinbase**, **Google**, and the **Ethereum Foundation's dAI team** in developing **ampersend** and the underlying **ERC-8004** protocol highlights a collective industry recognition of the need for robust infrastructure for autonomous agents. This joint initiative suggests a consensus on the critical requirement for standardized, auditable, and transparent systems to support the growth of the **agentic economy**. The emphasis on "visibility, control, and compliance" reflects a strategic imperative to underpin the evolving **machine economy** with reliable operational frameworks, aligning with a generally bullish outlook on solutions that address significant operational challenges in decentralized **AI**. ## Broader Context **ampersend** represents a pivotal advancement in the evolution of both the **Web3** and **AI** ecosystems, specifically targeting the emerging **agentic economy**. This platform directly addresses the critical need for enhanced interoperability, security, and effective governance as autonomous agents become increasingly integrated into global commerce and data processing. The initiative mirrors a broader industry trend toward standardizing decentralized technologies, aiming to enable more widespread mainstream and institutional adoption, akin to how foundational internet protocols facilitated extensive digital interaction. By aligning with **ERC-8004** and integrating with established frameworks like **x402** and **A2A**, **ampersend** is positioned to serve as a foundational layer for future decentralized **AI** applications. This strategic development has the potential to unlock new economic models and significantly expand the capabilities within the **machine economy**, contributing to a more mature and resilient digital infrastructure.
## Executive Summary Prediction markets **Polymarket** and **Kalshi** forecast a record-setting US government shutdown lasting over 40 days, driving uncertainty in crypto markets and potentially impacting Federal Reserve policy decisions. ## The Event in Detail Prediction market bettors are increasingly indicating that a potential U.S. government shutdown will establish a new record for duration. Contracts on **Polymarket** and **Kalshi** are pricing in a government resumption after more than 40 days, which would exceed the 35-day record set in 2019. Traders on Polymarket assign the highest probability to a resolution around November 15, while Kalshi's duration market forecasts an average length of 41.6 days, aligning with a November 11 resolution. ## Market Implications A prolonged government shutdown could lead to significant delays in the release of crucial economic data, forcing the **Federal Reserve** to make policy decisions with incomplete information. This scenario could increase market volatility across all asset classes, including the crypto market. While the Federal Reserve will remain operational, the absence of comprehensive economic reports presents a challenge for informed decision-making regarding monetary policy. Historically, prolonged government shutdowns have coincided with notable events in crypto markets. The U.S. government shutdown from late December 2018 to January 2019, lasting 35 days, aligned with **Bitcoin**'s bear market bottoming process. During this period, Bitcoin's price fell from approximately $6,000 to just over $3,000 by December 2018, before a subsequent recovery following the government's reopening. More recently, the crypto markets have experienced significant volatility, with Bitcoin trading around the $108,000 level. A substantial "$20 billion crypto leverage flush" event occurred, characterized by the liquidation of leveraged crypto positions within hours, demonstrating the market's sensitivity to macro uncertainties. ## Expert Commentary The release of the U.S. **Consumer Price Index (CPI)** carries increased weight during a government shutdown, especially with a **Federal Open Market Committee (FOMC)** meeting scheduled shortly thereafter. Despite the shutdown, the Department of Labor confirmed it would recall staff to publish the CPI report. This report serves as a primary guide for markets, given the delay of other key economic data and the Fed's blackout period. Analysts are closely monitoring the CPI data; a reading of 3.1% or higher could influence the Fed to reconsider a potential 25-basis-point rate cut previously suggested by Fed Chair **Jerome Powell**. Conversely, lower-than-expected inflation might reinforce expectations for rate reductions. Markets are currently pricing in a strong chance of a 50-basis-point cut by year-end, according to the **CME FedWatch Tool**. This unusual timing amplifies the report's significance for financial markets. ## Broader Context The shutdown's impact extends to the broader Web3 ecosystem and regulatory landscape. The **SEC**'s efforts to formalize an "innovation exemption" by year-end or early 2026, aimed at encouraging domestic blockchain development, have faced delays due to the government shutdown. Similarly, approvals for crypto **Exchange-Traded Funds (ETFs)** could be further delayed, even amidst growing investor demand. Historical patterns suggest that past government shutdowns and data gaps have often correlated with U.S. dollar weakness and a rotation of capital into non-yielding assets, including gold and cryptocurrencies. For instance, Bitcoin, Ethereum, and XRP saw price increases following the onset of a government shutdown, with Bitcoin climbing above $118,000 in one instance. Trading volumes have surged during such periods, reflecting renewed demand for cryptocurrencies. The month of October has historically shown positive returns for Bitcoin, a trend market participants refer to as "Uptober," which can be amplified by macro shocks. These trends, coupled with factors like institutional demand and increasing ETF interest, indicate a complex but potentially resilient response from the digital asset market to government-induced economic uncertainties.
Chainlink (LINK) current price is $17.23, up 0.35% today.
Chainlink (LINK) daily trading volume is $408.9M
Chainlink (LINK) current market cap is $12.0B
Chainlink (LINK) current circulating supply is 696.8M
Chainlink (LINK) fully diluted market cap (FDV) is $17.2B
Chainlink (LINK) is founded by Sergey Nazarov