Nasdaq Invests $100 Million in Kraken Parent, Bitcoin On-Chain Bottom Anomaly, and Ethena Stablecoin Launches on TRON: An RLUSD Stablecoin Perspective (September 2026)

Core Summary: Public reports from September 10 to 12, 2026 show that Nasdaq invested $100 million in Kraken parent Payward at a $21 billion valuation; analyst Willy Woo believes that when Bitcoin fell to around $57,800 in July, on-chain HODL Waves data did not show a large influx of buyers; Ethena Labs and TRON DAO announced that USDe and sUSDe launched on TRON. OKX users should focus on verifying stablecoin prices, on-chain addresses, and official announcements, rather than acting directly on a single event. This article does not constitute investment advice.

Timeline and Data Scope of the Three Events: Restoring Public Information First

Valuation and Transaction Parties of Nasdaq's $100 Million Investment

According to a Decrypt report on September 10, 2026, Nasdaq invested $100 million in Kraken parent Payward at a $21 billion valuation. In the same report, the RLUSD stablecoin price was $0.999971, with nearly zero change that day.

Bitcoin On-Chain Bottom Anomaly and the Time Lag in ETF Fund Flows

According to a Cointelegraph report on September 11, 2026, analyst Willy Woo stated that when Bitcoin fell to around $57,800 in July, on-chain HODL Waves data did not show a large influx of buyers, possibly only a single whale slowly buying. The report also mentioned that in August 2026, U.S. spot Bitcoin ETFs recorded $3.8 billion in net inflows over three weeks. For related background, see our article "Bitcoin Loses $78,000, Spot ETFs See Two-Day Net Outflow of $167 Million: How PPI Beat Expectations and Rising U.S. Treasury Yields Impact Crypto Assets."

Channels and Network Scale of Ethena's Launch on TRON

According to a NewsBTC report on September 12, 2026, Ethena Labs and TRON DAO announced that USDe and sUSDe have launched on the TRON network, and users can bridge to TRON via Stargate Finance. The TRON network has over 403 million accounts and more than $94 billion in circulating USDT.

How to Verify Stablecoin Market Data and On-Chain Signals on OKX

Which Stablecoin Data Can Be Viewed Directly on OKX

OKX users should first open the OKX official website or app, go to the market page, and confirm the currently listed stablecoin trading pairs. Note: This article does not presume that OKX has listed RLUSD, USDe, or sUSDe trading pairs; at the time of writing, please refer to the actual list on the OKX market page. You can view real-time prices, percentage changes, and trading data for mainstream stablecoins such as USDT and USDC.

How to Set Price Alerts and Market Subscriptions

The following are executable verification steps:

1. Open the OKX official website or app, go to the "Markets" or "Market" page, search for the stablecoin code, and confirm whether it is listed.
2. For listed stablecoins, use OKX's price alert feature to set threshold alerts for deviations from $1 (for example, 0.995/1.005) to monitor abnormal fluctuations.
3. For on-chain data, you can use third-party explorers (such as Glassnode, CryptoQuant, etc.) to view indicators like HODL Waves and exchange net flows, but cross-verification is required.
4. Do not use a single on-chain indicator or a single news item as a basis for action; combine multiple time windows and official announcements.

How Stablecoin-Related News Affects OKX Users' Asset Allocation and Risk Checks

Stablecoin Depegging Risk and Reserve Transparency

A stablecoin price deviating from $1 may indicate liquidity or reserve issues. OKX users should check the project's official proof of reserves or audit reports, and not adjust positions based solely on news headlines. The RLUSD price of $0.999971 comes from the Decrypt report, not from OKX trading data, and should not imply that OKX has that trading pair. For more discussion on stablecoin payment credibility and reserve risks, see our article "Stablecoin Payment Credibility Debate: BIS Questions, Visa and Dunamu Partnership, and Strategy Bitcoin Purchase Dynamics 2026."

Impact of TRON Network Growth on Withdrawals and Bridging

TRON network's circulating USDT exceeding $94 billion and accounts exceeding 403 million indicate widespread stablecoin usage in the TRON ecosystem. However, before cross-chain transfers, users should confirm the contract address and official announcements to avoid phishing. When withdrawing from OKX, use the official withdrawal network list within the platform and verify the destination address.

Potential Risks of the Ethena USDe Mechanism

Ethena's USDe and sUSDe are bridged to TRON via Stargate. Users need to understand the USDe mechanism and be aware of smart contract and cross-chain bridge risks; do not act solely on the launch news.

Data and Disclosure Checklist to Verify Before Writing

Data Time Frame

All amounts, valuations, prices, account numbers, and net inflows must be labeled with original sources and dates. The main data on this page is based on public reports from September 10, 11, and 12, 2026. The Bitcoin on-chain bottom anomaly is an analyst's view and must be noted as a personal judgment.

Citation Sources and Archiving

External citations should use the original URLs provided in the input and retain timestamps. This page cites original articles from Decrypt, Cointelegraph, and NewsBTC. If OKX does not list the relevant stablecoins, clearly state "as of the verification date, OKX does not offer this asset trading pair" and do not make false promises.

Risk Warning: Cryptocurrency/digital asset prices are highly volatile, and information and rules may change at any time. This article does not constitute investment, legal, or tax advice. Before making decisions, refer to the latest official announcements and actual product pages.