Ndax Weekly TL;DR Sept 1

• US Government selects Chainlink and Pyth to publish economic data onchain
• Aave hits $41.1B TVL, ranks alongside 54th largest US bank by deposits
• Canada’s economy contracts 1.6% in Q2 as U.S. tariffs weigh on exports

The US government has partnered with blockchain oracle providers Chainlink and Pyth to publish key economic indicators such as GDP and PCE onchain, in a move aimed at boosting transparency and accountability in government spending. The initiative, part of the Trump administration’s broader push to make the US a global crypto hub, could enable applications ranging from automated trading and prediction markets to DeFi risk management. Cointelegraph

Decentralized lending protocol Aave has reached a record $41.1 billion in total value locked (TVL), making it comparable in size to the 54th largest US commercial bank, according to Federal Reserve data. Including $28.9 billion in active borrows, Aave’s combined figure rises to $71.1 billion — on par with the 37th largest US bank. The protocol now controls about 50% of the DeFi lending market, far outpacing rivals, as institutional adoption and record loan activity drive growth. CryptoSlate

Canada’s economy shrank at an annualized rate of 1.6% in the second quarter of 2025, a sharper decline than expected, as newly imposed U.S. tariffs hit exports and business investment. Statistics Canada reported steep drops in auto, machinery, and travel service exports, alongside weaker equipment spending. While the contraction was broadly in line with Bank of Canada forecasts, the results leave the economy entering Q3 with weak momentum. Markets responded by pricing in a greater chance of a September rate cut, though economists remain divided on whether the central bank will ease policy or hold rates. Yahoo Finance

Ndax's news feature provides the latest news, stories, and trends to help you keep your hand on the pulse of crypto and blockchain.

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News Nuggets

• Ethereum Foundation makes interoperability top short-term UX focus Cointelegraph
• Desjardins: Canada’s inflation risks overstated, more BoC cuts expected Yahoo Finance
• China’s Linklogis integrates XRP Ledger to digitize global supply chain finance CryptoSlate
• Ethereum Foundation pauses Ecosystem Support Program grants amid funding model overhaul crypto news
• Avalanche tops blockchain transaction growth with 66% surge as US government posts GDP data onchain Cointelegraph
• Philippine senator to propose blockchain-based national budget for transparency Cointelegraph
• Pudgy Penguins launches Soulbound Token for early Pudgy Party players crypto news

As of 09-01-2025 at 9:00 AM EDT

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has decreased from CA$5.33 trillion to CA$5.20 trillion.
• Bitcoin's market dominance stands at 57.4%, while Ethereum's share is 14.1%.

Performance

Over the past 24 hours, the price of BTC has fluctuated between CA$147K and CA$151K registering a 2.47% change over the past week and a market cap of CA$3 trillion. At Ndax, the weekly movers are PYTH, which saw a 40% increase in the last seven days reaching a market cap of CA$1.3 billion, and MATIC, which experienced a 16.02% rise with a market cap of CA$439 million. (At time of writing)

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Sept 5 – US Unemployment Rate Announcement  
Sept 5 – Canada Unemployment Rate Announcement 

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