Bitcoin traded above $80,000 on Thursday as Charles Schwab told clients it will widen the list of tokens available in Schwab Crypto accounts, giving Solana, Avalanche and Chainlink access to a retail brokerage that has offered only bitcoin and ether since May.

The three named tokens outpaced the two Schwab already carries. SOL gained 12.9%, Chainlink 5.5% and Avalanche 3.6%, against 2.1% for bitcoin and 1.5% for ether. U.S. spot Solana ETFs have taken in $1.23 billion since launch and drew $3.6 million on Wednesday.

Bitcoin last changed hands at $80,020, up 2.1% over 24 hours and 10.4% over seven days, after trading between $78,294.85 and $80,793.49, according to CoinGecko data. It closed at $79,018 on Wednesday and had not settled above that level in the prior five sessions. Ether was at $2,504, up 1.5% on the day and 8% on the week. XRP added 6% to $1.46; Solana rose 12.9% to $109.13; BNB gained 1.6% to $710.12. Total crypto market value stood at $2.79 trillion, up 2.22% over 24 hours, on $99.4 billion of volume, with bitcoin dominance at 57.6%.

Among the 100 largest tokens, 71 are neither stablecoins nor tokenized funds or commodity tokens, and 63 of those rose on the day. Across the 150 largest, 16 non-stablecoin tokens declined. The Crypto Fear & Greed Index read 71, or greed, on Thursday, against 65 on Wednesday and 41 on Aug. 18, according to Alternative.me.

Schwab's Expansion Plans

Schwab said in a press release on Thursday that Solana, Avalanche and Chainlink will become available in Schwab Crypto accounts in the coming months. The platform has carried bitcoin and ether since its rollout in May. "These additions are consistent with our approach to provide clients with access to familiar cryptocurrencies backed by an ecosystem of education, tools, resources, and support to make informed decisions about how crypto might fit into their broader investing goals," said Joe Vietri, Head of Digital Assets at Charles Schwab.

The release gives no date and no client or asset figures. Schwab has separately told advisors it is targeting mid-2027 for spot trading and custody in its registered investment advisor channel. SOL traded between $96.47 and $109.67 over 24 hours on $7.43 billion of volume, its market value at $63.7 billion. Chainlink was at $11.89, up 5.5% on the day and 11.7% on the week. Avalanche was at $7.50, up 3.6% and 4.5%.

Ethena Fee Switch Proposal

Ethena's research team posted a proposal to activate the ENA fee switch on the Ethena governance forum at 1:59 p.m. UTC on Thursday, and ENA rose 21.9% to $0.1669 on $1.79 billion of volume, its largest one-day gain among the 150 biggest tokens after VeChain.

The post ties the size of the buyback to the supply of Ethena's synthetic dollar. "The share of protocol revenue directed to ENA buybacks increases at each USDe circulating supply milestone," it reads. Once the first milestone is reached, "95% of the net revenue from each of these business lines...would be directed to ENA buybacks." The named business lines are USDe savings, whitelabel stablecoins and a third the post calls Ethena [X].

Buybacks do not begin on approval. "These milestones will be subject to an ENA tokenholder vote, which will follow immediately after this post," the proposal says, and no vote link had been posted in the thread as of Thursday afternoon. USDe circulating supply stands at $4.05 billion, according to DefiLlama data, against the ">$6bn" supply threshold, one of three conditions the Risk Committee set in its November 2024 fee switch parameters. Ethena holds $4.49 billion of total value locked and generates $310 million of annualized fees, of which $5.3 million currently reaches the protocol as revenue.

Source: The Defiant

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