Basecat (BASECAT) surged 2,034% over the past 24 hours, lifting its market value to $17.2 million and extending its gains since launch to over 12,000%.

The token pairs a cartoon cat in a blue construction helmet with no stated utility. Trading activity surged today after two key developments.

Where the BASECAT Rally Started

Trading in BASECAT opened on Uniswap V4 on August 15, according to pool data on GeckoTerminal. The price saw a notable surge on August 16, as the market value jumped from under $1 million to peak at $20.35 million.

The rally has continued today. According to the latest data, BASECAT’s market cap stood at $17.2 million at press time. The meme coin is up over 12,000 since its launch.

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Trading activity has also been heavily concentrated around the recent rally. Over the past 24 hours, buyers accounted for 30,539 transactions compared with 26,994 sells, for a total of 57,533 transactions. Net buying reached approximately $172,260, while total trading volume climbed to $24.67 million.

However, it’s worth noting that BASECAT has no roadmap or product claims. A community-run site describes the concept in plain terms.

“BASECAT is simple: a meme token on Base built around a tiny cat in a blue hard hat. No invented utility. No fake roadmap. The community makes the story,” the website reads.

Why is BASECAT Surging?

With BASECAT up sharply, a key question arises. What is driving the four-digit surge today? GeckoTerminal attributed the move to listings on Gate and Coinbase Wallet.

However, BASECAT’s market remains relatively thin compared with its valuation. Liquidity stood at about $539,700 against a market capitalization of $17.2 million, with roughly 10,200 holders.

Thus, the combination of high volume and relatively limited liquidity can amplify price movements in either direction. As a result, the token’s rapid rise may also leave it vulnerable to sharp reversals if buying momentum fades.

BASECAT’s move also follows a broader pattern among newly launched meme coins, where social attention and short-term trading activity can quickly drive valuations higher.

For example, PLUMBER climbed more than 10,000% in August after a viral Crypto Twitter argument. The token subsequently gave back a significant portion of its gains, highlighting the volatility surrounding attention-driven meme coin rallies.

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The post BASECAT Meme Coin Jumps 2,000%: Here’s What’s Driving the Rally appeared first on BeInCrypto.

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Zoomex, a global cryptocurrency derivatives exchange, today officially announced the commencement of its highly anticipated Stock Perpetuals Competition Round 2. Engineered to seamlessly bridge the gap between Traditional Finance (TradFi) and Web3 crypto derivatives, the event showcases Zoomex’s robust derivatives infrastructure while offering global traders 24/7 access to high-demand U.S. equity perpetual contracts backed by a dynamic escalating prize pool and interactive reward tiers.

As global market volatility intensifies, retail and institutional traders increasingly seek frictionless risk-hedging mechanisms outside conventional trading hours. Zoomex addresses this demand through its proprietary derivatives engine, enabling users to trade perpetual contracts on top U.S. equities – including Nvidia (NVDA), Apple (AAPL), and Tesla (TSLA)—using USDT as margin. The platform eliminates traditional brokerage onboarding friction, offering leverage up to 25x and bi-directional (long/short) trading capabilities without market-close interruptions.

Executive Insight: Redefining Cross-Asset Trading

Addressing the strategic vision behind the competition, the Chief Brand Officer of Zoomex stated:

“At Zoomex, derivatives trading is not merely a feature—it is our core identity and structural foundation. Traditional stock markets remain constrained by strict opening hours, lengthy clearing cycles, and cross-border fiat capital controls. By integrating U.S. equities into our high-performance crypto derivatives matching engine, we deliver uninterrupted 24/7 execution, deep liquidity, and institutional-grade price anchoring.”

“Stock Competition Round 2 serves as both a high-stakes arena for top derivatives traders and a live showcase of Zoomex’s matching capacity and zero-slippage risk management. We are committed to establishing the most reliable cross-asset derivative highway in the digital asset industry.”

Institutional-Grade Derivatives: Core Product Pillars

Zoomex’s Stock Perpetuals product suite is specifically tailored for professional trading strategies, offering distinct competitive advantages:

• 24/7 Uninterrupted Market Access: Bypasses standard U.S. stock exchange market-close hours, permitting real-time risk management and position adjustments around global macroeconomic events.
• USDT Unified Collateral Settlement: Eliminates currency conversion friction and international wire delays by enabling capital deployment directly via USDT margin for opening, maintaining, and settling equity positions.
• High-Concurrency Engine & Anti-Wick Oracle System: Powered by Zoomex’s proprietary matching engine capable of handling high throughput during extreme volatility, backed by multi-source oracle pricing to prevent price manipulation and unfair liquidation wicks.
• Flexible Leverage & Bi-Directional Exposure: Supports up to 25x customizable leverage, allowing traders to execute complex long and short strategies across market cycles with maximum capital efficiency.

Stock Competition Round 2: Key Event Mechanics

1. Dynamic Prize Pool: Escalates proportionally based on participant volume and cumulative derivative turnover, rewarding both Return on Investment (ROI) and trading volume.
2. Trading Volume “Blind Boxes”: Unlocks milestone rewards as trading volume thresholds are met, offering instant USDT cash prizes, fee discount vouchers, and bonus credits.
3. Transparent Leaderboard: Real-time rank updates refreshed every 5 minutes, backed by fully audited PnL tracking for absolute competition integrity.

About Zoomex

Founded in 2021, Zoomex is a global crypto trading platform dedicated to delivering an unmatched derivatives experience, serving over 3 million users across 35+ countries and regions. Built for traders who demand speed, clarity, and control, Zoomex seamlessly integrates high-performance execution, intuitive asset tracking, and transparent fee structures. Backed by a robust trust framework—featuring Hacken security audits, Proof of Reserves, and rigorous compliance standards—Zoomex empowers users with a cleaner, smarter, and more efficient trading ecosystem.

Beyond trading, Zoomex elevates the brand experience through high-profile partnerships with the Haas F1 Team, World Cup-winning goalkeeper Emiliano Martínez, and elite tennis tournaments. By bringing the speed, precision, discipline, and uncompromising fairness of world-class sports to the realm of crypto derivatives, Zoomex ensures its vision aligns seamlessly with every trade.

At Zoomex: Trading made simple. Funds made transparent. Profits made accessible.

The post Zoomex Launches Stock Perpetuals Competition Round 2: Elevating Cross-Asset Derivatives for Global Traders appeared first on BeInCrypto.

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Vitalik Buterin has endorsed a plan to rebuild how Ethereum handles simple payments, copying a method Bitcoin has used since 2009. He credited Bitcoin developers for the idea on X.

The endorsement answers a problem Ethereum has carried for years. Every new account makes the network a little heavier to run.

Why Ethereum Keeps Getting Heavier

Thousands of computers worldwide hold a full copy of Ethereum. Those machines are called nodes, and each one stores every account ever created. That record never shrinks. A single account entry costs 100 to 150 bytes and stays there permanently, whether anyone uses it again or not.

Buterin has warned about the buildup before. He spent much of 2026 arguing that Ethereum’s deepest bottlenecks sit in how the network stores data. The side networks built on top are not the main problem.

How Bitcoin’s Design Could Fix It

Ethereum Foundation researcher Toni Wahrstatter published an answer in July. He borrowed the way Bitcoin handles money, counting individual coins instead of running account balances.

Bitcoin calls those coins unspent transaction outputs, or UTXOs. Once someone spends one, almost nothing stays behind, roughly a third of a byte. The outcome shows up at scale. One billion Ethereum accounts would demand up to 150 gigabytes. One billion spent coins would need about 300 megabytes.

Recipients would gain something too. Today they need Ethereum’s token, ETH, in a wallet before money arrives. Under the new model the payment covers its own fee.

Buterin added the second half in January. He proposed letting computers bundle many transaction checks into one compact package, instead of passing a heavy check around for every payment.

Not everyone welcomed the borrowing. Cardano founder Charles Hoskinson accused Ethereum of copying his own network’s coin tracking after the July proposal appeared.

Buterin Praises Bitcoiners and Points Ahead

Developer conall.gwei joined the two ideas. Whoever builds the next block could then publish a single 128 kB summary and settle an enormous batch of payments at once.

Buterin answered him directly.

Utreexo, the Bitcoin project he named, lets computers verify coins without keeping the full list. Buterin wants Ethereum to run both styles at once, so most activity scales up while ordinary people can still run a node. Those compact proofs, known as STARKs, already anchor his Lean Ethereum roadmap plans, which drew pushback over timelines in July. He also called the old tradeoff between speed, security and decentralization technically solved earlier this year.

The foundation keeps shipping changes regardless. It set out its 2026 protocol priorities in February, then swapped core cryptography this month to guard against quantum computers.

Markets have not rewarded the research push so far. ETH trades near $1,903, up 1.28% on the day, and the token has stalled below $2,000 for weeks.

Neither proposal has a launch date. Therefore, the open question is whether the teams that build Ethereum’s software will pick both up.

The post Vitalik Buterin Wants to Copy Bitcoin Design to Hyperscale Ethereum appeared first on BeInCrypto.

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Anthropic appears to be moving closer to its initial public offering (IPO), which undoubtedly is one of the most closely watched technology listings of 2026.

The emerging consensus is that Claude’s maker could reach the public markets this fall; however, there are still a few important caveats and clarifications.

Prediction Markets Lean Toward October

While in no way a certainty, prediction market traders are leaning heavily in the direction that the IPO will come in October.

As you can see on the Polymarket snapshot, the contract tracking whether Anthropic will go public by September 15 implies just a 2% chance, while the probability for September 30 stands at 10%. By October 31, however, the odds jumped to 70%, and the market shows an 83% chance of an IPO by the end of this year.

Notably, the October probability had increased sharply in recent trading sessions, suggesting that users are becoming more confident that the listing could happen during that month.

Reports Also Point to Fall Listing

Not surprisingly, that view is also largely supported by recent reporting. A report from the Wall Street Journal said that the firm’s executives have been meeting with prospective investors to strengthen confidence ahead of an IPO that could arrive in September or early October.

Anthropic has also taken a major procedural step: the firm confidentially filed for a US IPO in June, giving it flexibility to move once regulatory review and market conditions allow it.

But that’s not the only impressive part about the IPO. Another report outlined that some investors are targeting a valuation of $2 trillion or even more for an October debut. This would be more than double the $965 million post-money valuation that Anthropic received in its May funding round, although the company has not publicly confirmed either the IPO date or the valuation.

$2 Trillion Valuation?

Whether participants in the IPO and public investors will support such a massive figure is likely to depend on the confidence placed in Anthropic’s growth projections.

Reuters reported that the company is forecasting roughly $190 billion to $200 billion in revenue in 2028, compared with a $47 billion annualized revenue run rate disclosed in May. Bankers and investors are now looking unusually far into the future when they assess what the firm could be worth. They are attempting to account for the company’s rapid growth and the high costs of training and operating cutting-edge AI models.

The post Is Anthropic About to Go Public Soon? October IPO Odds Are Surging appeared first on CryptoPotato.

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Chainalysis is challenging the US government’s decision to award a blockchain analytics contract to TRM Labs without a competitive bidding process.

According to a case filed in the US Court of Federal Claims, the company alleged that the Department of Homeland Security (DHS) and Immigration and Customs Enforcement (ICE) favored TRM Labs.

Clash Over $94.66M Contract

At the center of the lawsuit is a major contract of $94.66 million, which was awarded last month by ICE to TRM Labs. This one-year award runs from July 1, 2026, through June 30, 2027, and states,

“The purpose of this contract is to support the Department of Homeland Security, Homeland Security Investigations, Homeland Security Task Force National Coordination Center Cyber Disruption Center through the provision of analytical support services.”

Chainalysis has challenged that award while alleging that the federal law enforcement agency’s decision was “arbitrary, capricious, and unreasonable.” The company stated that the agencies skipped the normal competitive process and awarded the work directly to its rival. It has now asked the court to stop the award. The full complaint is under seal because it contains Chainalysis’ confidential, proprietary information and trade secrets, so the public docket does not reveal all of its arguments.

TRM Labs has already joined the case as an intervenor to defend the government’s decision. The court has also approved a protective order. Briefing is now underway, and filings are scheduled through the end of August. Oral arguments are set for September 2 at the National Courts Building in Washington, DC.

Meanwhile, the government has asked the court to issue a decision by September 10.

Lucrative Market for Crypto Analytics

Chainalysis and TRM Labs are both popular blockchain analytics companies whose tools are used by government agencies to track cryptocurrency activity. These tools have become increasingly important for authorities tracking crypto-linked financial activity by identifying wallets and following the movement of funds tied to sanctioned entities and illicit networks. The technology has also been used in cases involving state-linked wallets and the freezing of crypto assets.

This has helped platforms such as Chainalysis to build a significant business with the US government.

In the case of Chainalysis as well, its federal work dates back to 2015, when the FBI awarded it a $9,000 contract for data software. Since then, its government business has grown substantially, working with several agencies, including the DEA and IRS.

The post Chainalysis Takes US Government to Court Over $94.66M TRM Labs Contract appeared first on CryptoPotato.

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Foreign borrowers are flooding into Asia-Pacific bond markets. So-called Kangaroo, panda, and dim sum bond sales all hit records in 2026.

Kangaroo bonds, sold in Australian dollars by foreign borrowers, reached about 42 billion US dollars this year. That is a 40% jump from 2025, per LSEG data cited by Reuters.

Hong Kong and Yuan Bond Debuts Hit Records

Hong Kong dollar bond issuance has also hit a record high in 2026. Commerzbank, Engie, and Singapore Airlines sold Australian dollar or yuan bonds for the first time this year, Reuters reported.

Chinese onshore panda bonds and offshore dim sum bonds also hit records in the first half of 2026. Panda bond sales reached about 160 billion yuan, or 24 billion US dollars. Dim sum sales hit 350 billion yuan.

Both figures mark gains of more than 60% from a year earlier, according to Goldman Sachs data cited by Reuters. International borrowers accounted for about half of that volume.

“We’ve reached a tipping point where these markets have tipped over into being significantly more meaningful both to local names and inevitably to international names.”

Carla Goudge, head of debt syndicate for Asia-Pacific at HSBC, told Reuters.

Yen Bonds and the AI Borrowing Boom

Yen bond sales by foreign borrowers have also doubled this year. Alphabet’s record bond sale drove much of the increase, though yen issuance is at a seven-year high even without it.

Global bond sales topped 4 trillion US dollars by late July, up from about 3.5 trillion dollars a year earlier. Rising artificial intelligence (AI) infrastructure spending and government deficits are straining major bond markets.

Big Tech’s heavy AI spending has already squeezed hyperscaler free cash flow. That adds pressure on the same bond markets these firms depend on.

The trend also reflects Beijing’s push to internationalize the yuan. It follows a stretch of sharp swings in Asian equities, including the Kospi and Nikkei sell-off earlier this year.

German carmakers and European financial institutions have been especially active panda bond issuers. That’s according to Clifford Lee, global head of investment banking at Singapore’s DBS.

More Governments Eye the Panda Bond Market

Portugal became the first eurozone government to sell a dim sum bond in April. The sale raised almost 2 billion yuan, or 300 million US dollars.

Portugal later swapped the proceeds back to euros at a small savings, Rui Amaral of the debt agency said.

Brazil plans to sell its first-ever panda bond later this year, Reuters reported. Kenya is also weighing a debut in the market.

The post Kangaroo, Panda, Dim Sum: Foreign Bond Sales Hit Records Across Asia appeared first on BeInCrypto.

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