Foreign media reports that the focus of the crypto market in recent days has been on three main topics: a technical test involving XRP Ledger, the correction of Ethereum's medium-term trend, and the total locked-up capital rising to $28 billion in Tron. These three topics correspond to institutional attention, changes in price structure, and the scale of funds on the blockchain, respectively.

BIS test drives XRP rebound

According to reports, on September 2, the Bank for International Settlements (BIS) published a working paper in which researchers tested methods for verifying official statistical data using blockchain. The approach involves writing data summary values into XRP Ledger and generating encrypted fingerprints for subsequent verification.

The article emphasizes that during this test, bank or economic data was not directly stored in XRPL, and the testing environment was not the mainnet; rather, it was XRPL Devnet. In other words, this is more akin to a technical proof of concept, and it does not indicate that BIS has collaborated with Ripple, nor does it mean that they have adopted XRP or migrated central bank infrastructure to XRPL.

Test results show that the verification time is about 1 to 2 seconds, and the release time delay is about 3 to 5 seconds. Foreign media believes that although this is not an official adoption, XRPL thus adds another institutional use case beyond payment narratives. Affected by this, XRP rose by about 3% on that day, with the price returning to around $1.39.

ETH Approaching the golden cross of the medium-term moving average

The article argues that Ethereum's previous upward trend has significantly improved its daily chart structure. ETH is currently around $2,420, and the gap between the 50-day moving average and the 100-day moving average has narrowed significantly, approaching a golden cross in the medium term.

However, it is also mentioned in the text that the crossover of moving averages is usually lagging behind prices. ETH has risen from around $1880 to a previous high above $2500; therefore, even if a golden cross occurs later on, it does not necessarily automatically mean the start of a new round of upward movement.

From a price structure perspective, ETH previously broke through the resistance range of $1900 to $1920 with increased volume and once again rose above the 200-day moving average of $2169. Although it has fallen back from around $2550 recently, it is still above the main medium-term moving averages. Foreign media consider the range of $2500 to $2550 as the first major resistance zone above that level.

Tron Lock-up Amount Rises to $28 Billion

Tron The total locked-up value in the ecosystem has risen to approximately $28 billion, which is another key point in this market review. The article points out that this scale is largely due to its stablecoin activities, especially the transfer and settlement needs of USDT, as well as infrastructure for staking, lending, and more.

Foreign media believes that Tron remains one of the important settlement networks for global USDT transfers. The lower costs and faster transfer speeds support the use of funds on the chain. However, the expansion of the scale on the chain has not immediately translated into an increase in the price of TRX.

TRX is currently around $0.328, and recently it has fallen from the range of $0.345 to $0.350, breaking below several short- to medium-term moving averages. The article mentions that the 200-day moving average around $0.324 is a key level at present; if this level can be held, the stronger structure formed within the year could still be maintained. If it is lost, prices may further decline to the $0.315 to $0.320 range.