What's Driving Token Prices? August 12, 2026

MOVE (-17%) - Layer-1 protocol Movement announced last week the launch of a new product to send remittances through WhatsApp. Movement partnered with El Vecino, a remittance provider, and RISE, a wallet provider, to create the new product. Movement’s blockchain will act as the payment rails. The product will allow users to access remittances without a bank account or the need to go through a new app. Initially, the app will target the US-Mexico remittance corridor and will later expand to include other corridors, such as El Salvador and Guatemala.
CRO (-14%) - Last week, Trump Media and Technology Group announced it would pull back from a partnership with crypto exchange Crypto.com. The proposed partnership was to set up a digital asset treasury company to support Crypto.com’s Cronos blockchain and its CRO token. Trump Media would have lent its name to the company, which would seek to accumulate CRO tokens and generate additional yield from those holdings. Market conditions surrounding digital asset treasury companies were cited as the reason for shelving the endeavor. In addition, plans to create prediction markets on Truth Social have also been scaled back. Today, Crypto.com announced the launch of tokenized equity derivatives for users in specific jurisdictions, joining a large cohort of crypto exchanges that are offering their users exposure to stocks.
JUP (-10%) - On Monday, Jupiter, the largest DeFi app on Solana, launched v2 of its lending product. The most important new feature is that v2 allows users to use positions that are deposited or borrowed in the lending product simultaneously as trading liquidity (as a liquidity provider). The change essentially allows for greater capital efficiency. Jupiter can offer this feature because it operates the largest DEX aggregator in the Solana ecosystem, but it limits this “smart collateral” feature to stablecoin and staked SOL pairs to avoid overly volatile assets. Jupiter Lend currently has $1.7B in deposits and $827M in loans outstanding, representing 3% of the overall lending sector.
BTC (-2.4%) - Bitcoin experienced some drama among its Core team this past week. It began when a proposal to reduce network spam, BIP-110, failed to receive enough support to activate on the network. The proposal was designed to temporarily restrict how much non-payment data—such as Ordinals inscriptions, images, etc.—could be included in Bitcoin blocks. As Bitcoin lacks formal governance for pushing through software upgrades, any upgrades must be adopted by a majority of network nodes (miners) to go live. If less than 55% of the network adopts the update, the network forks, creating a different version of the chain. This is exactly what happened with BIP-110: the software update went live on August 8, but after achieving support from only 2.53% of nodes, it broke away to become its own chain. The new network stalled after producing two blocks and is now over 300 blocks behind the Bitcoin network. Following this failed software upgrade, Bitcoin Improvement Proposal editor Luke Dashjr was forcibly removed from his role by other BIP editors. Dashjr was heavily involved in BIP-110, and his ousting was a direct result of the failed proposal. Despite this, the network continues to run smoothly, although another hard fork is scheduled for the end of August. This hard fork, eCash, is an entirely unrelated upgrade that will create a version of Bitcoin that allows sidechains and reassigns some of the Satoshi-era dormant coins to investors and developers.

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