S&P Global Debuts Onchain Stablecoin Risk Scores via Chainlink Integration

Major credit ratings giant S&P Global is bringing its institutional-grade risk assessment directly to blockchain networks.

The Oracle Connection

Through Chainlink's decentralized oracle network, S&P's stablecoin stability metrics now flow directly onchain—bypassing traditional financial data pipelines and giving DeFi protocols real-time access to trusted risk evaluations.

Institutional Meets Decentralized

The move marks another convergence point between traditional finance and web3 infrastructure. Suddenly, smart contracts can automatically adjust collateral requirements based on S&P's stability scores—no human intervention required.

Because nothing says 'trustless' like paying a credit agency to tell you who to trust.

This isn't just data integration—it's the financial establishment building guardrails for the wild west of decentralized finance while collecting tolls at the entrance.

Derivatives Positioning

• The BTC futures market appears to be stabilizing following its recent volatility. Open interest has settled around $25.5 billion, showing no major change from yesterday after the weekend's significant drop. The 3-month annualized basis is now trading in a lower range of 5-6%, a drop from its earlier rebound and indicating a slight cooling of bullish sentiment. A key divergence remains in funding rates, with Bybit's rate turning negative at -5%, while Hyperliquid's remains positive at 10%. This suggests a mixed and complex market sentiment, with strong but isolated long and short conviction across different platforms.
• The BTC options market is showing a significant bullish acceleration. The 24-hour Put/Call Volume is now roughly balanced at a 50-50 split, a shift from being call-dominated, while the 1-week 25 Delta Skew has spiked dramatically to 12.62%. This high positive skew indicates a substantial premium for call options over puts, showing that traders are aggressively positioning for upside price action and are willing to pay a premium for bullish exposure.
• Coinglass data shows $627 million in 24 hour liquidations, with a 70-30 split between longs and shorts. ETH ($185 million), BTC ($125 million) and Others ($69 million) were the leaders in terms of notional liquidations. Binance liquidation heatmap indicates $110,600 as a core liquidation level to monitor, in case of a price drop.

Token Talk

By Oliver Knight

• Plasma XPL$0.4163 fell another 13.5% on Tuesday, extending its losses to 52% since debuting in late September.
• The stablecoin-focused layer-1 blockchain faces skepticism over its tokenomics and large “ecosystem & growth” allocations.
• Circulating supply stands at 1.8 billion against a total of 10 billion, pointing to years of potential sell pressure as vested tokens unlock.
• Tokens were sold in the public round at $0.05 each, leaving ICO buyers comfortably in profit at current prices of around $0.41.
• Investors who bought after exchange listings are facing steep losses amid weak market sentiment.
• Analysts expect continued downward pressure once early investor tokens become fully liquid, ICOdrops data shows a major unlock will occur in Q2 of 2026.