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Tron Inc. Shares Tumble 85% From June Peak Amid DAT Market Slump

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In brief

  • Tron Inc. stock has fallen 85% since June, part of a broader downturn for crypto-linked public companies.
  • MSTR, BMNR, and the majority of publicly listed treasury companies are down double digits from their three-month peaks.
  • This sell-off is a digital asset treasury trend, not a problem unique to any single firm, experts told Decrypt.

Tron Inc., a TRX treasury company, has been on a sustained downtrend since its mid-June peak.

The Nasdaq-listed toy and souvenir manufacturer is down 85% from its June 20 peak of $12.80, according to TradingView data. In September alone, the company witnessed a 55% decline.

“The hype is deflating,” Peter Chung, head of research at Presto Research, told Decrypt.



Chung noted that it is common for hype and frenzy to take over when a new meta is introduced, leading to outsized gains. As cooler heads prevail, the asset tends to find a stable footing, leading to a decline in its valuation. 

“This year it happened with Circle IPO, and is happening with DATs,” he explained. 

“It’s not just Tron,” Czhang Lin, head of LBank Labs, told Decrypt. “Many firms in the space are navigating similar headwinds.”

Tron Inc., which was listed on Nasdaq on July 24 through a reverse merger with SRM Entertainment, is not the only crypto treasury company facing a slump. 

Stephen Gregory, founder of crypto trading platform Vtrader, told Decrypt that the recent drop in crypto treasury companies was a result of “bad execution” and “rushing to the market” without “fully fleshing out” their strategy.

Gregory noted that the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority’s investigation involving 200 firms for suspicious stock trades preceding crypto treasury announcements is also part of the reason why the stock prices of crypto-linked companies are dropping.

Bitcoin treasury company MicroStrategy (MSTR) is down roughly 30% in the last three months, while Ethereum treasury company Bitmine Immersion Technologies Inc. has also shed 67% over the same period.

Justin Sun, who serves as an adviser to Tron Inc. and is the founder of TRON, has long been at the center of speculation and allegations, from his early ICO days in China to a recent run-in with U.S. law enforcement for allegedly selling unregistered securities related to TRON and BitTorrent.

Despite navigating regulatory challenges, Sun’s recent actions involving the Trump-family-linked World Liberty Financial project have had an immediate impact.

After WLFI’s token generation event on September 1, Sun claimed 600 million tokens and moved 9 million to the HTX exchange, which he alleged were “routine tests and address splits,” without any intention to sell. 

The move prompted the WLFI project to freeze Sun’s remaining 591 million unlocked tokens.

TRX is down nearly 1% in the past 24 hours and is currently trading at $0.33, with a market capitalization of $31.56 billion, making it the tenth-largest crypto in the industry.

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Bitcoin Scarcity Index Spikes For First Time Since June: Accumulation In Play?
GameFi Guides

Bitcoin Scarcity Index Spikes For First Time Since June: Accumulation In Play?

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is at a crossroads, with analysts divided on its next move. Some argue that demand is fading, raising concerns of a deeper correction, while others point to the potential for a breakout that could push BTC above its all-time highs. This uncertainty is not without cause—the market is bracing for the US Federal Reserve’s decision on interest rates, a pivotal event that could shape price action in the days ahead.

According to fresh data from CryptoQuant, Bitcoin just flashed a significant signal. The Bitcoin Scarcity Index on Binance, the world’s largest trading platform, spiked yesterday—the first such move since June. This sudden jump usually suggests a major shift in market structure, often triggered by large withdrawals of BTC from exchanges or a sharp drop in sell orders. Both scenarios reflect a tightening of supply, making Bitcoin scarcer in the open market.

Historically, such spikes have coincided with the entry of institutional players or large whales buying aggressively. While this points toward accumulation, it also underscores the high-stakes environment. With the Fed’s decision imminent, the market could be on the verge of a decisive move that sets the tone for the rest of the year.

Bitcoin Scarcity Index Signals Market Crossroads

According to Arab Chain on CryptoQuant, the recent spike in the Bitcoin Scarcity Index reflects a sudden imbalance between buyers and available supply. The index jumps when immediate buying power overwhelms market liquidity, often creating a scenario where investors race to acquire BTC before prices move higher. Historically, such spikes have coincided with positive developments or inflows of fresh capital. In fact, the same pattern occurred last June and lasted several days, fueling Bitcoin’s rally to nearly $124,000.

Binance Bitcoin Scarcity Index | Source: CryptoQuant

If the current reading remains elevated for multiple sessions, it could signal the start of a strong accumulation phase. Such conditions often precede sustained uptrends as whales and institutions absorb supply, reducing the amount of Bitcoin available on exchanges. However, the index also carries risk signals. A sharp rise followed by a rapid decline, as appears to be unfolding now, may suggest speculative behavior or forced liquidations. This dynamic typically leads to a period of cooling, marked by sideways consolidation or even short-term corrections.

The broader context complicates the picture. In recent months, the index reached record highs—above +6—only to collapse back toward neutral and even negative territory. This stark contrast reveals that while price remains strong, underlying demand momentum may be weakening. If exchange withdrawals slow or supply increases, the scarcity effect could fade.

With the Federal Reserve’s decision on interest rates just ahead, the question remains whether this spike reflects true accumulation or another fleeting burst of speculative activity. The next few days will provide clarity.

Bitcoin Price Analysis: Testing Mid-Range Levels

Bitcoin’s 3-day chart shows the price consolidating around $115,479, following a recovery from early September’s dip near $110,000. The structure highlights a mid-range battle, as BTC trades between the 200-day SMA near $82,600 and resistance at $123,217, the level that capped the July rally.

BTC consolidates around key level | Source: BTCUSDT chart on TradingView

The 50-day SMA at $109,580 is acting as dynamic support, preventing deeper retracement despite repeated tests. Meanwhile, the 100-day SMA at $101,291 remains comfortably below the current price, reflecting an overall bullish medium-term structure. BTC has consistently defended higher lows since April, suggesting accumulation remains present.

However, upside momentum appears capped, with sellers stepping in near $116,000–$117,000. A decisive breakout above $123,217 would likely trigger a push toward uncharted territory, potentially targeting $130,000+. On the other hand, failure to maintain support above $110,000 could open the door to deeper retracements, with $105,000 emerging as the first major downside target.

The chart reflects a market at a turning point: steady accumulation is supporting the price, yet resistance remains strong. With the Fed’s interest rate decision approaching, volatility is expected to rise. Bitcoin’s ability to either break past $123K or hold the $110K floor will define the next trend.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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I’ve been using macOS Tahoe 26 since June and here are the eight best things about it
Product Reviews

I’ve been using macOS Tahoe 26 since June and here are the eight best things about it

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Apple’s new version of macOS, Tahoe 26, launches today for all compatible Macs. I’ve already shared many feelings about Liquid Glass in my look at the developer and public betas, and my opinion on the new, polarizing UI remains lukewarm. But after using Tahoe through the beta periods to full release, I can confidently say that there are some decent improvements to macOS worth diving further into.

The updated Spotlight: power user lite

PreviousNext

1/2A brief walkthrough of Spotlight’s UI behavior: using the keyboard shortcuts, using the arrow keys, and hovering over with the mouse to show the icons.

Command + Spacebar was always a helpful shortcut for calling up Spotlight and launching an app with just the keyboard. Now, you can do much more with it, and if you train up the muscle memory it could be one of the most helpful new features of macOS Tahoe. You can feel a little power user-y without being overwhelmed by a million controls and options found in third-party apps like Raycast.

When summoning Spotlight in Tahoe, you have easy access to applications, recent files, customizable / actionable shortcuts, and a clipboard history via just the keyboard (you can click stuff too, but bouncing between keyboard and mouse slows you down). In addition to jumping between those four functions with Command and numbers one through four, you can rotate between them one at a time with the arrow keys. This gives you a more helpful graphical guide, because it shows the four icons as you navigate instead of having to remember which number key corresponds to each function. Otherwise, the icons are hidden and require hovering your mouse over the Spotlight search bar to see them bubble out — all liquid-like. Cute animation, Apple, but it’d be better to not tuck away those icons.

Clipboard history is oh-so-handy

Clipboard history houses recently copied texts, screenshots, and files.

One of the new Spotlight functions is one of my favorite features of Tahoe. A clipboard history is incredibly useful for just about anyone. I’m sure we’ve all had moments where we copied text or a link and forgot to paste it before copying something else. Clipboard history helps with that by temporarily storing up to eight hours of copied text, files, and even screenshots (including screenshots ones didn’t save to a file). It makes those items easy to copy again and paste, and it also helps in situations where you have multiple fields to copy over in batches.

The only downside of a clipboard history are the slight security and privacy risks if you use a shared computer and accounts. It could reveal sensitive information or gossip to others in your household — that is, if you copied anything incriminating and they know how to access the clipboard history. (Apple maintains an eight-hour time limit on the clipboard history and doesn’t put copied passwords into it, but if it’s copied from plain text, then it’s fair game.)

A Phone app: convenient access to calls

Tahoe’s Phone app, complete with dialer.

I maintain that Tahoe’s full-blown Phone app is one of its more useful features, especially if you occasionally need to make a tedious call during your nine-to-five. Gotta call an insurance company, doctor’s office, customer service line, or bank that puts you in a tiresome queue? Call them while you work on other stuff. Doing it with your phone next to you on speaker accomplishes the same thing, but it also means keeping your phone and a plethora of other distractions near you. I’ve found that having it all baked into your computer is just a tiny bit more helpful at keeping me on-task through this multitasking speed bump.

The Messages app gets backgrounds and polls

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1/2Sending my friend a tough decision in a poll and setting the background to a pretty aurora.

Apple’s Messages app now offers customizable polls that you can survey your friends with and the ability to change the backgrounds of your conversations, the latter of which is commonly found on other chat apps. Apple’s preset backgrounds have a little animation flourish, which is fun, but they quickly settle into a static image. Most of the presets are just colorful abstractions or pretty scenes taken from the natural world, like clouds, water, and auroras, but you can also just set a custom photo or use Image Playground for something AI-generated (though it usually looks ugly).

Live Translations of calls and messages

1/4Live translations are tucked away in the dropdown menu of a call.

macOS Tahoe has a few ways it can do on-device live translations: it can translate text chats in the Messages app, display translated captions in FaceTime video calls, and translate a phone call live with both text transcriptions and an automated voice. At this time it only supports voice translations in English, French, German, Portuguese, and Spanish, while text translations include all of those plus Japanese, Korean, Italian, and simplified Chinese.

I tested the live translator in the Phone app during a call with my mom while she spoke Spanish, which is one of three languages she speaks (four, if you count proper Italian and her regional Italian dialect separately). It was serviceable, but it’d be tough to have a full conversation through it. Both participants have to get a feel for the cadence of the automated translator, ideally going a bit slowly and allowing gaps for it to speak around you in the other language. This isn’t as advanced as Google’s new translator on the Pixel 10 phones, where it deepfakes your voice with AI, but it’s a passable first attempt for Apple Intelligence. Just be aware that the usual hangups and stumbling around translating slang or any mid-sentence language switching are very present.

Safari’s whole new look

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1/2Safari is much more rounded and modern looking, with a top bar transparency.

The Safari redesign is one of the better infusions of Liquid Glass. The overall rounded-edge aesthetic is a fine change. And I dig how the top navigation bar color-matches sites you visit. But the color matching is very subtle, and most sites I visit just lead to it being black, white, or some level of off-white. I guess that’s an improvement over Safari’s previous default all-gray look? It might be more fun for you if sites you frequent have wider splashes of color that get picked up.

As for Safari’s new glassy transparency, it’s pretty neat. As you scroll down, the contents of a website tuck under the frosted top navigation bar, darkening and blurring until they go out of frame. It’s a subtle effect that’s easy to ignore, which is perhaps for the best so it doesn’t get too distracting.

The transparent Menu Bar: more wallpaper space

The Controls Gallery, with many toggles and buttons you can drag and drop to either the Command Center or Menu Bar. Note that I added enough stuff to the Menu Bar in this example to bump the temperature to the other side of the MacBook Air’s notch (which is invisible in screenshots).

I’ve come around on the new Menu Bar, though I’m glad anyone who dislikes its new transparent look can go back to filling it in with a background. It’s one of those things where, now that I’ve adjusted to it, I don’t want to go back.
But the best part of the new Menu Bar is how easy it is to add clickable buttons and drop-down menu shortcuts via the new Controls Gallery now. You’ve always been able to add lots of things to a Mac’s Menu Bar, but you now have one neat and orderly place to select them from. To add them, you click Edit Controls in the Command Center, which opens the Controls Gallery and allows you to drag and drop them in. It’s the same process as it is to add more toggles to Command Center, but the difference between the two is that I actually use the macOS Menu Bar — Command Center, not so much.

Fun and colorful folder customization

PreviousNext

1/2Colorful new folders.

I like the ability to change the actual color of folders, instead of just adding a colored dot next to their names. (Though, you can still do that if you prefer.) You’re limited to just seven folder colors, though, and can’t add your own. The new ability to add a helpful or silly emoji to the folder icon is also fun. Apple also allows you to choose from hundreds of minimal, monotone gray emojis to emblazen on a folder, but sadly you can’t search through them. The only way to keyword search for an emoji is to use a traditional, full-color emoji, which can kill the streamlined look.

The most meh parts of Tahoe

PreviousNext

1/2The new Games app.

  • Themes: I’m glad Apple is adding more appearance choices to macOS like it did the iPhone, but just like iOS’s themes, the look of dark, clear, or tinted icons are mixed at best. Some of the color tints make things ugly or unreadable. I hope this eventually gets better and more coherent on all of Apple’s platforms.
  • Live Activities: Tahoe automatically shows live, widget-like information straight from your iPhone on its Menu Bar and allows you to click right into an on-screen mirror of the app on your phone. It’s one of those features that could be very helpful (if you call lots of Ubers while working on your laptop) or that you might never actually see (if you don’t use an iPhone or none of your apps use Live Activities).
  • Games app: There’s no harm in having a game launcher and overlay tool in macOS, but much like gaming on a Mac, it’s not for hardcore players who play a wide variety of titles. The app is best equipped for games on Apple Arcade and the App Store. The Games app detects titles installed from my Steam library, but sometimes it fails to boot them or the overlay minimizes them for some reason. And while the overlay shows some helpful functions, like shortcuts to power settings, there’s no displayable framerate or performance metrics (not that I’m surprised Apple didn’t go this route). The Games app could be helpful for unifying your Steam and App Store games, but if you primarily buy your games on Steam, it’s mostly useless.

Tahoe’s long and windy trail

While Tahoe’s new look is likely to be polarizing, it has some decent new features. The update has been very stable for me, even from the early days of the developer beta (aside from the Games app acting weird — but, really, who cares). Though if you’re unsure how you’ll take to the glassy UI life or if your day-to-day work relies on a Mac, then it doesn’t hurt to wait a bit to update.

There will inevitably be updates that hammer out potential glitches or bugs, and I wouldn’t be surprised if Apple keeps cooking on Liquid Glass with some little visual tweaks as it did during the betas. But I guess it’s just a matter of time before we’re all glassified.

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NFT Sales Hit $91.9M, Lowest Weekly Total Since June as Buyers Drop 58%
NFT Gaming

NFT Sales Hit $91.9M, Lowest Weekly Total Since June as Buyers Drop 58%

by admin



Non-fungible token (NFT) sales volume dropped to $91.96 million in the first week of September, setting the lowest weekly sales figure since mid-June, according to data from NFT tracker CryptoSlam. 

The NFT sales dip last week follows sustained momentum for NFTs throughout July and August. In the last eight weeks, weekly sales volume for digital collectibles never dropped below $115 million, showing strong momentum. 

From July 21 to 27, digital collectibles saw $170 million in weekly sales. This marked their third-highest weekly performance this year, following the highest weekly figures above $170 million recorded in mid-January. 

The NFT slump last week put the sales volume back near levels last seen in June 16 to 22, when sales hit a low of $90 million.

Unique NFT buyers down 58% since mid-June

While NFT sales volumes were lower from June 16 to 22, the number of unique buyers was near 487,264, suggesting that collectors remained interested in purchasing NFTs despite lower average sale values going to a low of $57. 

From Sept. 1 to 7, unique buyers for NFTs hit 199,821, a 58% drop compared to their record mid-June. On the other hand, unique sellers dropped to 145,877 last week, a 43% decline from 258,803 sellers from June 16 to 22.

In addition to a shrinking number of buyers and sellers, average sale prices also started to drop. Throughout August, the average sale value for NFTs was above $104 before dipping in the last week of August to $82. In the first week of September, the figure further dropped to $72, a 30% decline in just two weeks. 

Despite lower volumes, the overall transaction count remained relatively high at 1.27 million, suggesting continued trading activity despite smaller transaction sizes. 

Related: Rarible bets on fee redistribution to outlast NFT farming hype

Adoption drove strong NFT sales in July and August

Last Friday, DappRadar analyst Sara Gherghelas attributed the strong NFT performances in the last two months to increasing NFT adoption.

She brought up the opening of a permanent NFT art gallery inside a club in Ibiza, an island near Spain. The gallery showcased works from NFT artists like Beeple and Mad Dog Jones. 

Another key drive was Base, the layer-2 network of crypto exchange Coinbase. In August, Base became the third-largest chain by 30-day volume. 

Magazine: Astrology could make you a better crypto trader: It has been foretold



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