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Philippine Senator Suggests Putting National Budget On-chain

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In brief

  • Senator Bam Aquino called for budget transactions to be recorded on-chain.
  • A formal bill proposing the measure is yet to be filed.
  • Blockchain solutions aren’t “a silver bullet against corruption,” a local blockchain infrastructure firm told Decrypt.

Philippine Senator Bam Aquino wants the country’s national budget placed on a blockchain platform, a move he said would make every peso spent traceable by citizens.

“No one is crazy enough to put their transactions on blockchain, where every single step of the way will be logged and transparent to every single citizen. But we want to start,” Aquino said in a statement at the Manila Tech Summit held on Wednesday.



“If we’re able to do this, I think we’ll be the first country to have our budget on the blockchain,” Aquino said, adding he’s unsure what kind of support he’d receive.

At the time of writing, no formal proposal on a blockchain-powered budget management system scaled for the country’s entire national budget has been filed. Representatives for Senator Aquino did not immediately return Decrypt’s request for comment.

But once formalized, Senator Aquino’s plan would build upon the Department of Budget and Management’s existing blockchain platform, which already records select financial documents and is the first live on-chain budget platform in Asia.

BayaniChain, the local blockchain infrastructure firm behind the DBM’s on-chain platform, welcomed Aquino’s remarks but clarified it is not directly involved with the senator.

“His vision aligns with ours: creating more transparent and accountable systems for the Philippines,” Paul Soliman, co-founder and CEO of BayaniChain, told Decrypt. “While blockchain is not a silver bullet against corruption, it creates immutable records that ensure accountability from government officials.”

Soliman said BayaniChain’s role is to provide the technology that links the Department of Budget and Management’s internal system to a public blockchain.

This setup allows key budget documents, such as Special Allotment Release Orders (SAROs) and Notices of Cash Allocation (NCAs), to be published and verified online, with the records secured on-chain.

Prismo, an orchestration layer, manages data handling, encryption, and validation. The DBM’s budget platform uses Polygon’s Proof-of-Stake network, an Ethereum scaling solution fully compatible with the Ethereum Virtual Machine, as its consensus and transparency layer.

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XRP
GameFi Guides

Analyst Suggests Thinking Of XRP As Just ‘Payments’ Is Primitive, Here’s The Real Deal

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

Crypto analyst Pumpius has declared that XRP goes beyond just payments and that those thinking of it as just that way don’t know what is coming. He then highlighted the “blueprint of a multi-trillion dollar upgrade,” which is why he believes the altcoin can reach $10,000. 

Why XRP Can Hit $10,000 As Its Utility Expands Beyond Payments

In an X post, Pumpius stated that the world is moving to digital ID and indicated that XRP can play a huge role in this innovation. He explained that governments, banks, and big tech all admit that everyone will need this digital ID to transact in the coming system. The crypto analyst further remarked that this identity isn’t just a passport or driver’s license, but that the ultimate ID will be one’s biology. 

Pumpius claimed that biometric identity and generic data are being positioned as the next “trust layer” of finance. He said that this is because they are unique, immutable, and unforgeable, making them the perfect keys for digital commerce. The crypto analyst then proceeded to make the case for XRP, noting that the XRP Ledger has the rails to anchor this innovation. 

He then highlighted the DNA protocol, which is already working on this innovation on the XRP Ledger. In line with this, Pumpius declared that this isn’t just a concept but a live concept that could boost XRP’s utility. The analyst predicts that over $100 trillion in tokenized real-world assets are coming and that if biometrics and DNA become the default KYC, XRP and its native DEX could become the universal settlement layer. 

Pumpius expects trillions to follow into XRP when that time comes. He remarked that liquidity demand at that scale mathematically breaks current price models. The analyst asserted that XRP, as the bridge asset, won’t just go to $10 but will lead into five figures and reach $10,000. 

Analyst Warns XRP Can’t Reach That Level

In an X post, crypto analyst Jaydee warned that XRP cannot reach $10,000. He further warned the community of influencers who are predicting the altcoin will reach this level, declaring that they cannot be trusted. Jaydee remarked that these influencers are wrecking investors while the real analysts make retirement gains in months instead of waiting for a price level that won’t come. 

The crypto analyst is also certain that XRP cannot reach $1,000. He indicated that those who are also waiting on the altcoin to hit this price level, because Ripple is applying for a national banking license, will also get wrecked.  

At the time of writing, the XRP price is trading at around $2.92, down over 2% in the last 24 hours, according to data from CoinMarketCap.

XRP trading at $2.91 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

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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Bitcoin's History Suggests Another Record High May Be in 2025
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Bitcoin’s History Suggests Another Record High May Be in 2025

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The mixed price actions seen across the crypto market in the past few days have raised curiosities as to whether the 2025 bull market has been concluded. 

While hopes of Bitcoin achieving a new all-time high appear to be fading, recent data from Glassnode suggests that it is still possible in 2025.

The data shows that Bitcoin is forming a critical cycle that is closely similar to previous bull cycles following its recent market movements.

Bitcoin May cross $124,457 this year

The analyst cited two bullish patterns formed by the world’s leading cryptocurrency by market capitalization in 2017 and 2021. During these periods, Bitcoin moved in similar directions, achieving separate all-time highs in two to three months earlier in the mimicked cycles.

Although it is not common that history repeats itself in crypto market trends, investors often weigh on the crucial time context they provide to help them observe the market closely. This allows investors to make predictions on potential price actions amid uncertainties as to whether the currently formed pattern will also mimic the major price breakouts projected by the former cycles. 

This could also help them make decisions on necessary cautions to take to avoid possible losses.

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The analysis comes at a time when the market continues to trend downward amid rising profit-taking activities and a notable increase in speculative trading, a trend observed in the cited market conditions.

Nonetheless, if history repeats, Bitcoin might achieve a new all-time high in 2025 as data provided by CoinMarketCap shows that it is only 10.55% away from hitting a new all-time high above its previous $124,457 record achieved on August 13.

Furthermore, the data shows that the asset is trading negatively today, showing a price decrease of 2.07% over the last day. Following this slow price action, Bitcoin is trading at $112,035 as of press time.

Source: CoinMarketCap

While Bitcoin is showing an intraday high of $114,853 in the last 24 hours, it has also fallen as low as $110,604 on the same day. The rapid decline in its price in a matter of hours points to a massive profit-taking activity from holders. 

Notably, this is more evident in the massive surge of over 69% in Bitcoin’s trading volume, accompanied by a 2.1% decline in its market capitalization during the same period.

Usually, increases in an asset’s trading volume coupled with a reversed trend in its market value and capitalization are pointers to increased selling activities, which are often triggered by speculative trading (e.g., FOMO) or attempts to take profits. 

Nonetheless, large investors like Strategy have shown resilience with a continuous buying spree regardless of what the market is saying.



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Bitcoin price will hit $180,000 by the year-end, VanEck report suggests
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Bitcoin price will hit $180,000 by the year-end, VanEck report suggests

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On Aug. 18, 2025, ETF and mutual fund manager VanEck released a new report studying Bitcoin price trends between mid-July and mid-August. VanEck analyst Nathan Frankovitz and Head of Digital Assets Research Matthew Sigel predict that BTC will reach $180,000 by the end of the year, while noting discrepancies in Bitcoin mining companies’ market performance and declining mNAV of Digital Asset Treasuries.

Summary

  • VanEck report suggests that Bitcoin price will reach $180,000 by the end of 2025.
  • The report attributes the decline in Bitcoin treasury companies’ mNAV to lower Bitcoin volatility and claims mNAV will continue to drop in the future.
  • The U.S. dominance in Bitcoin mining reaches a record high at 31%.
  • Bitcoin ordinals minting doubles if compared to 2024, while Bitcoin Core is removing the arbitrary data limit from the block, clearing the way for more ordinals.

30-day market trends

On Aug. 13, 2025, Bitcoin reached a new record-breaking price. While it was only several hundred dollars above July’s peak price, VanEck notes that the signals coming from the Bitcoin futures markets were more bullish. The CME basis funding rates reached 9%, the highest figure in six months. 

The options market saw a notable increase in the call/put ratio, which reached 3.21x, signaling the growing demand for BTC. According to VanEck, 3.21x is the highest call/put rate since June 2024. Call premiums reached $792 million, which is a 37% rise compared to the previous 30-day period.

One of the factors shaping the uptrend was growing demand from corporations. According to VanEck, in July, Exchange-traded products (mostly ETFs) and DATs acquired 54,000 BTC and 72,000 BTC, respectively. In the three months of 2025 Q2, DATs purchased only 131,355 BTC, which indicates July’s increase in buying pressure coming from digital asset treasuries.

For the same crypto asset, which would you rather own?

— VanEck (@vaneck_us) August 13, 2025

VanEck named Ethereum’s popularity spike as the main reason for the decline in Bitcoin’s market dominance from 64.5% to 59.7%. Bitcoin network transactions reached 12.9 million, which is the highest rate since November 2024. Median fees dropped by 13%.

The graph attached to the VanEck report showcases a spike in total transfer volume. It reached $77,727,657,201, making a 34% increase compared to the previous 30-day period or a 60% change over 365 days.

Bitcoin mining

In August, mining hashrate reached a record-high rate of 902 EH/s. The revenue per EH/s is $59,400, the highest in eight months. The volume of BTC sent by miners to exchanges has nearly doubled since August 2024, but grew only 16% compared to mid-July of this year.

As for mining companies’ equities, the results are split. Applied Digital Corporation’s equity (APLD) is up 54%, Bitfarms (BITF) is up 16%, while most of their competitors saw growth below 10% or dropped in price. VanEck names a 22% drop in Cipher Mining Inc.’s stock (CIFR) price and a 4% decline in the 13-mining-company index tracked by the report authors. In August, U.S.-based mining operations reached a record share of 31%.

Bitcoin treasuries

VanEck evaluated the amount of Bitcoin held on public treasury companies’ balance sheets at 951,000. The authors of the report point to the decline in DATs’ stock performance. They point out that in July, the mNAVs of these companies have been going down. 

Saylor once said he’d never issue below 2.5x mNAV.

Now, he’s changed course.

He’s signaling a willingness to sell $MSTR even under that threshold.

A real risk of dilution is now on the table.

— Oz Sultan (@OzForNY) August 19, 2025

It means that for these companies, the share of net asset value declines relative to their liabilities. VanEck gives three examples: mNAVs are down for MSTR (-16%), for MTPLF (-62%), and for SMLR (-12%). As Bitcoin volatility settles, it becomes harder for DATs to issue convertible debt to acquire more BTC.

Bitcoin ordinals spike

Another notable trend is the 43% 30-day growth of ordinals minted on the Bitcoin blockchain. The total amount of ordinals minted in 30 days amounts to 109,779. Compared to August of 2024, this amount has grown by 120%. 

This surge in minting Bitcoin blockchain-based images and other non-monetary data reflects the ongoing debate over the idea of removing the 83-byte-per-block limit for arbitrary information. The implementation removing the limit will come into effect for Bitcoin Core nodes in October, allowing for more ordinals per block, which can possibly slow down monetary transactions.

Predictions

Looking at the near future, VanEck points to the possibility of a volatility spike, which in turn can amplify price swings via dealer hedging. VanEck expects a further decline in DATs’ mNAVs as they will have limited ability to raise capital due to a long period of low volatility. While the report authors provide both bearish and bullish scenarios, they claim that by year-end, Bitcoin will reach $180,000.

In December 2024, Matt Sigel was predicting that Bitcoin would reach $180,000 in the first quarter of 2025 before going through a 30% correction. In fact, the Q1 peak was well below $110,000. April saw a short-term 25% drop. Given that the current Bitcoin price is much higher than the December 2024 price, the $180,000 bet is considerably less bullish.





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Leaked Call of Duty: Black Ops 7 release date suggests there's still no Nintendo Switch 2 version at launch
Game Reviews

Leaked Call of Duty: Black Ops 7 release date suggests there’s still no Nintendo Switch 2 version at launch

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Call of Duty: Black Ops 7 will reportedly release on 14th November, 2025, and there’s still no Nintendo Switch 2 release planned.

That’s according to noted and highly reliable Dealabs leaker billbil-kun, who suggests the latest instalment of Activision’s tentpole franchise will be coming to PC, PS4, PS5, Xbox One, and Xbox Series, but will not be available on Switch at launch.

Why Tiktok Thirsts over Call of Duty’s Ghost.Watch on YouTube

We noted Nintendo Switch 2 was notably absent from the launch platform line-up when the game was revealed during Summer Games Fest, running counter to Microsoft’s 10-year promise to launch Call of Duty on Nintendo platforms on “the same day as Xbox, with full feature and content parity” if its gargantuan $69 billion offer to buy Activision Blizzard was approved. Which it was, of course.

At the time, however, sources confirmed to Eurogamer: “We’re committed to getting the franchise on Switch. Both teams [are] working on it. Will share details when ready.”

Dealabs posits that all this release information will be confirmed at next week’s Gamescom, including news of a physical release (with a disc included) and pre-orders set to go live on 20th August, following a reveal the night before at Opening Night Live. While U.S./UK pricing has yet to be leaked or confirmed, the leaker suggests it’ll retail for €79.99 in Europe. Xbox has, of course, previously pledged not to raise prices past $70 USD.

Former Activision Blizzard president Mike Ybarra thinks Battlefield 6 will “boot stomp” Call of Duty this year, and that this will push the CoD series to stop being “lazy”.



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