DefiLlama report: nearly 90% of FXRP supply is locked in DeFi

  • Nearly 90% of circulating FXRP supply is deployed across DeFi protocols.
  • Flare Data Connector fees now account for 45% of protocol revenue.
  • Flare plans Bitcoin integration and mainnet deployment of confidential computing.

Nearly 90% of the circulating supply of FXRP, Flare’s XRP-focused token, is deployed across decentralised finance (DeFi) protocols, according to a new report by DefiLlama examining the blockchain network’s adoption, technology and token economics.

The analysis found that approximately 129 million of the 145 million FXRP tokens in circulation were deployed across DeFi applications.

The findings highlight the growing use of XRP-linked assets in lending, borrowing and other decentralised financial services.

FXRP launched in September 2025 through Flare’s FAssets system, which enables XRP holders to access DeFi opportunities.

Flare is an Ethereum Virtual Machine-compatible Layer 1 blockchain focused on decentralised data infrastructure.

Lending markets account for the largest FXRP deployment

Lending markets represent the largest use of deployed FXRP, with activity across Morpho and Kinetic on Flare, Morpho on Ethereum and Euler on Monad.

Much of the token supply is used as collateral, allowing holders to borrow against their XRP exposure instead of selling their holdings.

This creates a way for investors to access liquidity while retaining exposure to the underlying asset.

The report highlighted activity in Sentora’s RLUSD vault on Morpho, where 10.6 million FXRP tokens backed $7.9 million of RLUSD supplied in late September.

The figures indicate that FXRP is being used beyond simple token transfers, with holders deploying the asset into lending markets and other financial applications.

Cross-chain adoption has also expanded. Approximately 20 million FXRP tokens are now deployed outside Flare, representing a fivefold increase since July.

Issued as a LayerZero Omnichain Fungible Token, FXRP has expanded to seven networks.

The token also became the first XRP spot pair on HyperCore in January, according to the announcement.

Flare data fees become its fastest-growing revenue source

Beyond its XRP-focused DeFi ecosystem, the report examined the development of Flare’s data infrastructure and its contribution to network revenue.

Since the implementation of FIP.16, fees generated by the Flare Data Connector have grown faster than those of any other protocol revenue source.

The connector verifies events occurring on other blockchain networks and now accounts for 45% of Flare’s total protocol revenue.

The report also identified a change in FLR staking patterns.

Between April and August, the share of staked or delegated FLR represented by directly staked tokens rose from approximately 32% to 46%.

The shift followed a July hard fork that gave greater weight to direct staking.

These developments suggest that Flare’s data-related services are becoming a more significant component of its network economics, alongside the growth of applications built around XRP.

Confidential computing and Bitcoin integration are next milestones

Flare is also developing Flare Confidential Compute (FCC), a system designed to let smart contracts verify results derived from private institutional data without exposing sensitive information.

Its first institutional application is live on the Songbird canary network and supports proof of reserves for Hex Trust’s USDX stablecoin.

DefiLlama described the potential role of the technology as expanding beyond conventional data feeds.

The report stated that as applications grow, FCC “becomes closer to an oracle primitive for private data, playing the role for institutional information that FTSO plays for public prices.”

Looking ahead, the report identified the planned FBTC product for Bitcoin integration, the mainnet deployment of Confidential Compute and higher protocol revenue as key milestones for Flare.

Progress on these initiatives will help determine whether the network can extend its data infrastructure beyond XRP-focused applications and attract broader institutional participation in decentralised finance.

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Bitcoin holds near $83k as easing bearish momentum puts $89,337 in focus

Key takeaways

  • Bitcoin traded around $82,800 on Wednesday, maintaining gains from the previous session.
  • BTC remains above its 50-day and 200-day EMAs, supporting a constructive technical backdrop.
  • Support lies at $80,769, with deeper levels at $77,862 and $76,090.

Bitcoin stabilizes after bullish daily close

Bitcoin held near $82,800 on Wednesday after a modest recovery the previous day, as easing selling pressure supported hopes of further gains.

Ethereum and XRP also remained steady following bullish daily closes, according to the report. However, the supplied technical analysis focuses on Bitcoin.

BTC continues to trade above its 50-day Exponential Moving Average at $80,769 and its 200-day EMA at $76,090. Holding those levels preserves a constructive backdrop, although buyers still need stronger momentum to sustain an extended rally.

Bitcoin’s daily Moving Average Convergence Divergence indicator is approaching a crossover above its signal line.

A completed bullish crossover would strengthen the case that downward momentum is fading. For now, the signal remains unconfirmed.

The Relative Strength Index stands near 51, slightly above its neutral midpoint. That reading suggests a modest improvement in momentum without indicating particularly strong buying pressure or overbought conditions.

Together, the indicators point to stabilization rather than a decisive breakout. Continued price gains would provide stronger confirmation that buyers are gaining control.

Bitcoin faces upside resistance at $89,337

The BTC/USD daily chart shows the 78.6% Fibonacci retracement near $89,337 as an important resistance level if Bitcoin’s recovery extends.

The retracement is drawn between a lower anchor at $57,800 and the upper reference at $97,924.

A sustained move through $89,337 would bring the $97,924 area into focus as the next major target in that framework.

These levels represent conditional technical objectives. Bitcoin would still need follow-through buying to move meaningfully higher from its current position near $83,000.

The first significant support level is the 50-day EMA near $80,769. Holding that average would help preserve the latest recovery structure. 

BTC/USD Daily Chart

A sustained break beneath it would weaken the near-term bullish outlook and shift attention toward the 50% Fibonacci retracement at $77,862.

Below that, the 200-day EMA at $76,090 provides a deeper reference for the broader trend.

Bitcoin’s immediate outlook therefore rests on maintaining support while momentum improves. A confirmed MACD crossover, accompanied by sustained buying, would offer clearer evidence that the recovery can extend toward overhead resistance.

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NEAR slips below $5 despite $5.42m ETF inflow

Key takeaways

  • NEAR fell 7% on Tuesday to around $4.70, extending Monday’s decline.
  • Bitwise’s NEAR ETF attracted $5.42 million on Monday after three consecutive weeks of inflows.
  • Resistance near $5.02 must be reclaimed to strengthen the recovery outlook.

NEAR retreats despite continued ETF buying

NEAR Protocol declined by over 7% on Tuesday, following a similar loss the previous day, as weakening short-term momentum outweighed continued demand through its exchange-traded fund.

The token traded around $4.70 at the time of this report, remaining below a closely grouped resistance area near $5.02.

Bitwise’s NEAR-focused ETF, NRR, recorded $5.42 million in net inflows on Monday, according to SoSoValue data. The buying followed three consecutive weeks of inflows totaling more than $80 million.

The positive flows indicate sustained demand through the fund, although they have not prevented the latest price correction. ETF activity represents one investment channel and does not determine the direction of the broader market.

NEAR’s Q3 2026 report, released Monday, highlighted growth in its multichain transaction infrastructure.

Cumulative volume through NEAR Intents exceeded $32 billion, approximately 45% above the previous quarter’s reported cumulative figure.

The protocol also reported that more than $8 million in fees had been directed toward token buybacks.

Meanwhile, total value locked in its privacy-focused Confidential Intents reached approximately $160 million, an increase of roughly 463%.

These figures point to expanding use of NEAR’s infrastructure. However, network growth and token buybacks do not guarantee an immediate recovery in NEAR’s market price.

Resistance around $5.02 caps recovery attempts

On the four-hour chart, NEAR remains below its 50-period Exponential Moving Average at $5.0179 and a descending resistance trendline near $5.0261.

Together, those levels form the first significant obstacle for buyers seeking to restore short-term momentum.

A sustained breakout above $5.0261 would strengthen the recovery case and bring the September 28 high at $5.5780 into focus. Beyond that, the $6.00 round-number level represents the next upside reference.

Until NEAR clears this resistance cluster, rebounds remain vulnerable to selling. The Relative Strength Index stands near 50 on the daily chart, indicating subdued momentum below its neutral midpoint.

The Moving Average Convergence Divergence indicator has also crossed marginally beneath its signal line, suggesting that upward pressure is fading.

These readings support a cautious near-term outlook, although they do not establish that the broader upward trend has reversed.

NEAR continues to trade above its 200-period EMA around $4.5513, leaving an important technical support level intact.

If the correction extends, the 200-period EMA near $4.55 provides the first significant support reference.

NEAR/USD Daily Chart

Below it, horizontal support at $4.4440 marks an area that limited losses on October 8. Holding this zone would support the interpretation of the decline as a correction within the broader uptrend.

A sustained break beneath both levels would weaken that structure and increase the risk of a deeper decline toward $3.9140, the September 19 high.

For now, NEAR’s outlook hinges on whether buyers can defend support and regain the resistance cluster around $5.02, even as ETF inflows and network activity remain constructive.

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Cardano holds above $0.22 as falling OI signals risk of further losses

Key takeaways

  • ADA futures open interest fell to $475.58 million from $549.14 million, reflecting reduced derivatives exposure.
  • Positive funding shows a modest bullish tilt among perpetual traders, leaving longs vulnerable if prices fall further.
  • ADA remains below key moving averages, with $0.1894 emerging as a potential downside target.

Cardano Stabilizes After Sharp Weekly Decline

Cardano held above $0.2200 on Monday as buyers attempted to steady the price following a roughly 12% decline last week.

ADA has lost more than 10% so far in October, while weakening derivatives activity and subdued large-wallet positioning suggest limited conviction behind a recovery.

The daily chart also remains under pressure after last week’s break below trendline support near $0.2321. With the token trading beneath its key moving averages, sellers retain the near-term advantage.

CoinGlass data shows that Cardano futures open interest declined to $465.87 million on Monday from $549.14 million last week.

That represents a reduction of approximately 14.5% in the notional value of outstanding contracts.

The decline suggests reduced derivatives exposure, though it does not prove that retail traders alone are leaving the market. Falling ADA prices can reduce dollar-denominated open interest, while position closures and liquidations can also contribute.

The funding rate remained positive at 0.0032%, indicating that long positions were paying shorts in the tracked perpetual market.

That modest positive reading suggests some traders are still positioned for a rebound. However, funding alone does not demonstrate excessive leverage. 

A further price decline could nevertheless put vulnerable long positions under pressure and trigger additional forced selling.

Onchain figures suggest large holders have made only modest adjustments to their exposure.

According to Santiment data, wallets holding more than 100 million ADA accounted for 15.99% of circulating supply, slightly higher than 15.95% last week.

Meanwhile, the cohort holding between 10 million and 100 million ADA represented 38.11% of supply, down from 38.27%.

The opposing movements provide a mixed picture rather than a clear accumulation trend. They also do not, by themselves, establish whether tokens were sold, transferred between wallets or moved across holding categories.

Combined with lower futures exposure, the figures offer limited evidence of renewed buying conviction.

Cardano’s technical outlook remains bearish

ADA continues to trade beneath its 50-day Exponential Moving Average near $0.2290 and its 200-day EMA around $0.2395.

The loss of trendline support near $0.2321 adds to the weak structure, leaving several barriers above the current price.

Momentum indicators reinforce the bearish bias. The Moving Average Convergence Divergence indicator remains below zero with a negative histogram, while the Relative Strength Index hovers around 41.

The RSI reading suggests sellers retain the upper hand, although ADA has not reached the conventional oversold threshold of 30.

Without a recovery through nearby resistance, the latest stabilization remains a pause within the correction rather than confirmation of a trend reversal.

The psychological $0.20 level is an immediate downside reference if selling resumes. Below it, the August 30 low near $0.1894 represents the next structural support. 

ADA/USD Daily Chart

A move toward that level would be about 14%–15% downside from the current price area.

On the upside, buyers first need to challenge the 50-day EMA at $0.2290. The former trendline support near $0.2321 then presents another obstacle, followed by the 200-day EMA at $0.2395.

A sustained recovery through those levels would help weaken the bearish setup. Until then, Cardano remains exposed to further losses as traders assess whether demand can strengthen around $0.2200.

 

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HYPE rebounds near $82 as Ripple Prime expands institutional access to Hyperliquid markets

Key takeaways

  • HYPE recovered to $81.88 after falling to approximately $77.59 following hotter-than-expected US producer inflation.
  • Ripple Prime introduced institutional RWA perpetual swaps referencing more than 100 Trade.xyz markets on Hyperliquid.
  • HYPE faces resistance at $83.10, while support lies around $76.30–$75.70.

HYPE recovers after inflation-driven selloff

Hyperliquid’s HYPE token rebounded toward $82 on Friday, recovering from an intraday decline as new institutional trading initiatives drew attention to the platform.

HYPE traded at approximately $81.88 at the time of this report, up 0.8% over the previous 24 hours. Earlier, the token fell to around $77.59 after a stronger-than-expected US inflation reading.

September’s Producer Price Index rose 6.3% year over year, exceeding expectations of 5.3%. The surprise renewed concerns about the Federal Reserve’s interest rate outlook and weighed on risk-sensitive assets.

Leveraged bullish positions absorbed most of HYPE’s liquidation losses. CoinGlass data showed approximately $7 million in long liquidations, compared with $810,000 in short positions.

Although the rebound restored HYPE above $80, the token remained below important short-term moving averages.

Ripple announced Thursday that Ripple Prime had introduced real-world asset perpetual swaps covering more than 100 reference markets.

The products span equities, equity indices, exchange-traded funds, metals, energy and foreign exchange. Trading and settlement are available around the clock, including weekends.

The swaps reference Trade.xyz perpetual futures listed on Hyperliquid. Ripple Prime acts as the principal counterparty, giving institutional clients access through its brokerage services rather than requiring them to trade directly on the decentralized platform.

The offering expands the connection between institutional brokerage services and Hyperliquid’s derivatives infrastructure. However, the launch does not establish a direct or immediate increase in demand for HYPE itself.

RLUSD collateral and cross-margining support the offering

Eligible clients can use Ripple’s RLUSD stablecoin as collateral for the new swaps. Ripple Prime also supports cross-margining across eligible asset classes, allowing institutions to manage collateral requirements and portfolio risk across multiple positions. 

Offsetting exposures may reduce margin requirements, depending on the portfolio and applicable rules.

Market maker Virtu is among the institutions already using the products, according to Ripple.

The service is currently offered through Ripple Prime’s CIV BVI license. Ripple plans to expand availability to additional regions but has not provided a timetable.

Separately, EQX Labs announced plans to introduce 11 tokenized US equity and ETF markets on Hyperliquid’s HyperCore infrastructure.

The proposed lineup includes exposure to Apple, Nvidia, Amazon and Tesla, alongside ETFs tracking major US markets.

According to EQX, the tokens will trade on Hyperliquid’s public order book and will each be backed by shares held in custody.

These planned products differ from the perpetual derivatives Ripple Prime referenced. Together, the initiatives point to a broader range of traditional-market exposures being developed around Hyperliquid.

HYPE faces resistance at the 50-Day EMA

HYPE’s daily chart retains a slightly bearish tone despite the rebound. The token remains above its 100-day Exponential Moving Average at $76.30 but below the 50-day EMA at $83.10 and the 20-day EMA at $85.40.

That positioning suggests longer-term support remains intact while short-term recovery attempts face overhead resistance.

The Relative Strength Index stands near 43, below its neutral midpoint. Meanwhile, the Stochastic Oscillator is around 20, indicating weak momentum near oversold territory without confirming a reversal.

HYPE/USD Daily Chart

Initial resistance sits at $83.10. Above that, the horizontal barrier at $85 and the 20-day EMA at $85.40 form the next resistance area. A sustained recovery through those levels would bring $97.80 into focus.

On the downside, the 100-day EMA at $76.30 and horizontal support at $75.70 form an important defensive zone. Losing that area could expose successive support levels at $67.60, $61.10 and $51.50.

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