On-chain Weekly Digest: GONDI Launches Purchase Bundler
Token Works & PNKSTR Expand STR Perpetual Machine, Pump.fun hits the highest volume in 7+ months and it pays out a new record of $4M in creator fees...
On-Chain Overview
Pump.fun hits 7-month volume high ($257M), Base explores native token amid $5.9M sequencer profits, BTC/ETH/SOL ETFs reach all-time high market caps, and Perp DEX competition heats up as challengers narrow the gap with Hyperliquid; meanwhile, the Dogecoin ecosystem expands with CleanCore’s $DOGE token treasury and DOGE ETF debut.
Crypto market cap slipped to $3.96T (-2.22%) while DEX activity rose to $118.7B (+7.59%), with Solana leading by volume ($30.53B, -3.09%) and Hyperliquid topping revenue ($18.06M, -10.33%), keeping the DEX-to-CEX ratio at 18.24%.
（Data accurate as of: Sep 22, 2025, 3:00 am, UTC）
Altcoin, Meme coin, NFT and RWA
Altcoins fell to $1.11T (-1.23%) as memes slumped ($71.86B cap, -7.53%; $65.2B volume, -12.6%), NFTs weakened in market cap ($12.03B, -3.99%) despite surging volume (+54.6% to $99.1M), while tokenized RWAs edged higher to $30.32B (+0.6%).
（Data accurate as of: Sep 22, 2025, 3:00 am, UTC）
Macro, Stocks & Commodities
Gold rose slightly (+0.33% to $25.47T) alongside equities (S&P 500 +1.22%, Nasdaq 100 +2.22%), while DXY (+0.24%), VIX (+1.24%), and 10Y yields (+1.72%) edged higher, JPY weakened (-0.74%), and Brent crude dipped (-0.64%).
（Data accurate as of: Sep 22, 2025, 3:00 am, UTC）
Key Events of the Week
Launchpad | Pump.fun hits the highest volume in 7+ months and it pays out a new record of $4M in creator fees (17 Sep)
DAT | CleanCore expands Dogecoin treasury beyond 600M DOGE (16 Sep)
CleanCore Solutions added 100M DOGE to its Official Dogecoin Treasury, surpassing 600M DOGE holdings and pushing toward its near-term goal of 1B DOGE within 30 days.
NFT | Token Works & PNKSTR Expand STR Perpetual Machine (18 Sep)
Token Works and PNKSTR are launching PUDGYSTR, APESTR, DICKSTR, BIRBSTR, and MEEBSTR across major NFT collections.
NFT | GONDI Launches Purchase Bundler (18 Sep)
New feature lets users buy NFTs from OpenSea, Punks Marketplace, and GONDI with partial liquidity, bundle loans seamlessly.
Prediction Market | Kalshi surges past Polymarket in global prediction market volume (18 Sep)
CFTC-registered Kalshi now holds 62.2% market share with $1.3B in September trading volume, outpacing Polymarket’s $773M and marking its first $1B+ month since last November’s U.S. elections.
Stablecoin | USDC launches natively on Hyperliquid (21 Sep)
USDC debuts on HyperEVM (~$12M, 3.5%) ahead of HyperCore, joining USDT0 ($193M, 55%) and thBILL ($16M, 17.5%), while USDH also launches—heating stablecoin rivalry on Hyperliquid.
L2 | Base weighs launch of a network token (21 Sep)
Base shifts from “no token” to exploring a network token for decentralization and builder alignment; August sequencer profit hit $5.9M, fueling pre-airdrop DeFi positioning.
Looking Ahead
L2 | Merlin Chain will introduce a BTC staking function with a maximum annualized return of 21% (1 Oct)
Wrapping Up
From a market data perspective: Crypto market cap declined to $3.96T (-2.22%) despite a 7.59% rise in DEX volume to $118.7B; Solana led DEX activity ($30.53B, -3.09%) while Hyperliquid topped DEX revenue ($18.06M, -10.33%).
From a market events perspective: Pump.fun reached a 7-month high in volume, DOGE treasury expanded with CleanCore’s 1B DOGE target, USDC launched natively on Hyperliquid, Base explored a network token, and Kalshi overtook Polymarket in prediction market volume.
