ChainThink said Solana developers posted on X on Aug. 24 that voting is now underway for Solana Validator Governance Proposals SGP0001, SGP0002 and SGP0003. Voting will remain open through the end of epoch 1023. SGP0001 proposes adopting the Solana Constitution and turning on on-chain governance mechanisms. SGP0002 would raise the deflation rate to 30% from the current 15%. SGP0003 would overhaul base transaction fees by splitting them into a fixed base inclusion fee paid to block producers and a separate resource fee calculated from transaction cost, with the resource fee burned in full.

A Trump-associated team is reported to be selling $TRUMP by repeatedly adding and removing liquidity. Over the past 10 hours, the activity generated about 3.39 million USDC in proceeds from $TRUMP sales.

According to Token Terminal data cited by ChainCatcher on Dec. 12, Circle expanded its outstanding stablecoin supply by $1.7 billion over the past seven days. This growth significantly outperformed competitors, nearly quintupling the $357.3 million increase recorded for Ripple’s issued assets, while Tether ranked third with a $202.2 million rise. On the network level, Tron emerged as the leader in stablecoin market capitalization growth, posting a $950 million increase during the same period. HyperEVM and Solana followed closely, recording gains of $614.7 million and $407.4 million, respectively. Collectively, these three blockchain networks accounted for a combined expansion of $1.97 billion, highlighting a period of robust liquidity inflows across the decentralized finance ecosystem.

Solana's official developer account announced that onchain voting for governance proposals SGP0001 through SGP0003 commenced at epoch 1023 and is scheduled to conclude on Aug. 26 at 15:30 UTC. The legislative package features three pivotal initiatives: SGP0001, which seeks to approve the Solana Constitution and formalize the network's governance framework; SGP0002, a proposal to accelerate the inflation reduction rate from 15% to 30%; and SGP0003, a plan to restructure transaction fees by introducing a fixed inclusion fee alongside a variable resource fee. Institutional staker DFDV confirmed it has submitted a maximum-weight vote. Despite the progress, some stakers reported that specific users were unable to cast their votes due to account inactivity, raising concerns regarding participation barriers during this critical governance phase.

Tether CEO Paolo Ardoino said on August 23, as reported by Criptonoticias, that USDT adoption is accelerating across developing economies including Venezuela, Argentina, Bolivia and Turkey. He said demand is being driven by domestic and cross-border commerce, as well as by households and businesses treating USDT as a "digital dollar" and store of value amid sharp local-currency depreciation, limited availability of U.S. dollar cash, and restrictions in parts of the financial system. In Venezuela, small and medium-sized enterprises are using USDT to settle import and export payments. In Bolivia, it is being used for everyday commercial activity, including fuel purchases. In Argentina, USDT has become common in street economies and peer-to-peer markets for savings and exchange. In Turkey, residents are turning to USDT as a hedge against persistent inflation.

Phantom has announced it will officially discontinue support for the Sui network within its wallet interface on September 24. According to a joint statement from Phantom and Sui on August 24 (UTC+8), the decision marks a shift in current integration, though both parties indicated they may explore future collaborations. Users have until the September 24 deadline to migrate their Sui wallets to alternative supported applications or swap their Sui-based assets into other tokens available within the Phantom ecosystem. To facilitate this transition, Phantom is offering fee-free transactions for these swaps. This development, reported by ODAILY, emphasizes the importance of timely asset management for users holding Sui tokens within the Phantom platform to avoid potential access issues following the deprecation date.

UPDATE: Phantom said it will end support for Sui on September 24. The wallet provider is urging users to move their funds or swap Sui-related assets before the cutoff. Phantom added that fees will be waived for these actions ahead of the deadline.

Abraxas Capital has significantly increased its bearish market exposure, accumulating approximately $783 million in short positions on the decentralized exchange Hyperliquid. To mitigate risk, the firm has concurrently executed a hedging strategy involving substantial spot asset acquisitions. According to on-chain data tracking the firm's movements over the past four days, Abraxas Capital withdrew 73,872 ETH, valued at approximately $173.17 million, from Binance. This dual-pronged approach suggests a sophisticated risk-managed strategy amidst current market volatility. The scale of the Hyperliquid shorts highlights the firm's aggressive positioning in the perpetual futures market, while the spot ETH withdrawals provide a physical buffer against potential upside price action, reflecting a complex institutional maneuver in the digital asset space.

A wave of sizable token unlocks is slated for the coming week, led by H, HUMA and XPL. H is scheduled to unlock on Aug. 25, worth about $18.92 million, equal to 7.92% of circulating supply. HUMA follows on Aug. 26 with an unlock valued at roughly $9.5 million, or 16.70% of circulating supply. XPL will also unlock on Aug. 25, estimated at around $8 million, representing 3.31% of circulating supply. Other planned unlocks include SOSO on Aug. 24 ($7.3 million; 6.35%), FF on Aug. 29 ($6.2 million; 2.57%), and CARDS and KMNO on Aug. 30 (each about $5.6 million; 5.45% and 2.89%, respectively).