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Bitcoin Core developer Peter Todd proposed removing arbitrary size limits on OP_RETURN, igniting an intense debate. The entire debacle reveals deep divisions over Bitcoin’s purpose and future.
OP_RETURN is the operation code (opcode) that allows small data payloads to be embedded in Bitcoin (BTC) transactions.
Bitcoin Core Developers and Community Clash Over OP_RETURN Limits
Peter Todd’s proposal #32359 on GitHub would lift long-standing restrictions on how much data can be stored using OP_RETURN, which is currently capped at 80 bytes.
One of Satoshi Nakamoto’s theories’ candidates, Peter Todd, argues that the change would simplify Bitcoin’s codebase. The cryptography developer also highlights its potential to improve efficiency without endangering the network.
As OP_RETURN outputs are unspendable, they do not bloat the Unspent Transaction Output (UTXO) set that all Bitcoin full nodes must track for transaction validation.
“The restrictions are easily bypassed by direct substitution and forks of Bitcoin Core,” Todd noted in his GitHub comments.
Peter Todd’s proposal to remove arbitrary limits on OP_Return. Source: GitHub
According to Peter Todd, formalizing higher limits would reflect existing practices and benefit use cases like sidechains and cross-chain bridges.
Many in the Bitcoin community view the change as a dangerous shift toward non-monetary use cases for the pioneer crypto. This is reminiscent of the 2014 OP_RETURN Wars when spam concerns forced developers to reduce the data cap from 80 to 40 bytes before raising it again.
That era saw services like Veriblock flood the chain with data, leading to increased block sizes and transaction fees.
“Sidechain builders shouldn’t influence Bitcoin Core. Bitcoin on its base layer is money and should be only focused on money,” warned Willem S, founder of Botanix Labs.
Willem argues that changing standard rules to make development easier sets a troubling precedent, particularly when workarounds already exist.
Proposal Is A Betrayal of Bitcoin’s Fundamental Principles, Critics Say
Meanwhile, critics call the proposal a betrayal of Bitcoin’s foundational principles. One such critic is Jason Hughes, who works in development and engineering at Ocean Mining. He accuses developers of steamrolling dissent and ignoring broader user concerns.
Hughes said the change could push Bitcoin toward being a worthless altcoin.
“Bitcoin Core developers are about to merge a change that turns Bitcoin into a worthless altcoin, and no one seems to care to do anything about it. I’ve voiced objections, lost sleep over this, and despite clear community rejection of the PR it’s moving,” Hughes lamented.
Nevertheless, others are more optimistic, with some acknowledging the potential of this move to drive network improvement.
“Catering to applications such as sidechains and bridges drives more transactions, which is good for the network,” countered Karbon, a popular user on X.
This sentiment hinges on the assumption that people already bypass the limit anyway. The backlash also stirred broader philosophical objections, with some likening it to the ongoing Ethereum woes.
“Bitcoin should not follow an ‘L2-centric’ roadmap. It is actually, what killed Ethereum. Bitcoin is money and should be focused on that,” another user argued.
Amidst debates on the technical merits of the change, the social impact may be harder to contain.
The proposal has amplified long-simmering concerns over developer centralization and revisited the risk of alienating users who believe Bitcoin should remain a minimal, sovereign monetary protocol.
Whether the proposal moves forward or stalls, the controversy reveals the growing tension between Bitcoin’s purist roots and the pressure to evolve.
As Bitcoin smashes through the $120,000 mark and market sentiment surges, HTX, a leading global cryptocurrency exchange takes a more measured approach, cutting through the noise to spotlight crypto assets with strong fundamentals and credible tailwinds. Now in its eighth report, HTX’s Crypto Gem Hunt reinforces the platform’s philosophy of value investing, early discovery, and quality priority, curating a list of seven standout assets that combine market momentum with long-term narrative. This is not merely a hotlist of weekly top gainers. It’s a forward-looking curation of projects positioned to outperform over longer cycles.
HTX New Listing Winners
The Selected Seven Assets: From Meme Coins and GameFi to DeFi and L1 Narratives
HTX’s Crypto Gem Hunt #8 features seven cherry-picked assets from several trending sectors with prosperous narratives. These sectors cover meme coins, GameFi, DeFi and RWA innovations, and public blockchain infrastructure.
L1 Public Chain: Time-Honored Infrastructure, New Catalysts
● TRON ($TRX) | Rated S: TRON’s native token $TRX was recently adopted by Nasdaq-listed firm SRM as part of its strategic reserve, making TRON one of the first blockchain networks bridging into U.S. capital markets. This also makes TRON as a battle-tested Layer 1 network with a fresh off-chain narrative. While its price move of +16.7% is modest, its global exposure and off-chain integration signal a longer-term value growth.
Meme Coins: Narrative Continues with Strong Community Backing
● BONK ($BONK): As one of Solana’s OG meme coins, $BONK is back in the spotlight, thanks to the Solana ecosystem revival. According to LetsBONK.fun, BONK has surpassed Pump.fun in on-chain activity, gaining a 193.2% surge over the period.
● MemeCore ($M): The top gainer, with a jaw-dropping +378.3% performance. Recently listed on both HTX and BN futures markets, its liquidity and social buzz continue to scale.
● Banana For Scale ($BANANAS31): A dark horse from the BNB Chain, up 347% since launch. Fueled by the light-hearted vibe and community energy, its memetic power still shows further viral marketing potential.
● Build On BNB ($BOBBSC): Another rising star of meme coin on BNB Smart Chain, $BOBBSC has surged over 200%, leveraging the BNB ecosystem’s benefits. It now plays at a low market cap, ideal for early value investment.
GameFi: Legacy Tokens, New Momentum
● FUNToken ($FUN): A veteran in the GameFi space, now seeing renewed interest. With a robust tokenomics model and real in-game utility, $FUN has rebounded nearly by 94%, positioning itself as a strong recovery asset in the GameFi comeback story.
DeFi + RWA: Real-World Asset Tokenization Heats Up
● Maple Finance ($SYRUP): The rising star of DeFi’s institutional pivot, specializing in on-chain credit and RWA lending. While Maple is tokenizing high-quality real-world assets with strong compliance narratives, $SYRUP has gained a 71.1% increase since its launch on HTX, driven by demand for yield-generating, regulation-friendly assets.
Beyond the Charts: Why These Projects Matter
These seven assets in HTX’s Crypto Gem Hunt #8 share a key trait: they are actively delivering on their narratives, not just promising them. From TRON’s growing real-world footprint to BONK’s strong rise on Solana, from the explosive virality of MemeCore and Build On BNB to the yield-driven momentum of Maple behind RWA’s building, these aren’t flash-in-the-pan plays. They’re structurally supported stories with runway left to go.
HTX’s research team carefully tracks narrative fulfillment, not just speculation. This forward-focused methodology aims to help users identify long-term value, especially as retail sentiment continues to chase short-term price spikes. As the market heats up and narratives rotate at breakneck speed, the report stands as a reminder that the next bull cycle won’t be won by hype alone and the true gems may already be on-chain yet underexposed.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.To learn more about HTX, please visit https://www.htx.com/ or HTX Square , and follow HTX on X, Telegram, and Discord.
The final week of July has seen a noticeable pullback across the crypto market, with Bitcoin (BTC) trading within a tight consolidation range. This muted performance has dampened broader market sentiment, dragging many altcoins lower.
Despite the cautious tone, retail interest in Nigeria—one of Africa’s most active crypto markets—has remained resilient. On-chain and social data reveal that Bonk (BONK), Sui (SUI), and Pepe (PEPE) have emerged as the top three trending altcoins in the country during the final week of July.
BONK
According to Ayotunde Alabi, CEO of Luno Nigeria, Solana-based meme coin BONK is among the top trending assets in Nigeria this week. The recent resurgence in the demand for meme assets has pushed BONK’s value up by over 150% in the past 30 days.
Alabi told BeInCrypto that BONK’s surge in popularity may be tied to the wider altcoin rally. Still, its appeal among Nigerian investors is also driven by its affordability and perceived upside. In a market where many top coins appear overbought, low-cost tokens like BONK offer speculative traders a chance to enter early and ride potential momentum.
“Interest could be based on the broader altcoin momentum, but investors could also be drawn to the low price entry point and potential for long-term growth,” Alabi pointed out.
The meme coin trades at $0.00003 at press time, up 7% in the past 24 hours. BONK could extend its rally toward $0.000038 if buying pressure is sustained. A successful breach of that resistance could propel the altcoin to reclaim its year-to-date high of $0.000040.
For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
On the other hand, if demand weakens, BONK’s price could dip to $0.000034.
SUI
This week, layer-1 (L1) coin SUI is another altcoin trending among Nigerian traders. According to Alabi, SUI’s resilience and rising visibility in Nigeria can be linked to its expanding ecosystem and increasing institutional validation.
With big names like Grayscale and VanEck backing the token through new investment vehicles, the CEO mentioned that Nigerian investors are paying closer attention to its long-term potential.
He added that the increase in SUI’s total value locked (TVL) over the past month signals a growing adoption and capital confidence in the network’s infrastructure. According to DefiLlama, this currently stands at $2.148 billion, rising by 25% since the beginning of July.
This uptick in TVL reflects increased market-wide participation and suggests that more users and developers are actively engaging with the Sui ecosystem.
SUI currently trades for $3.99. If network activity remains high, demand for the SUI coin will increase, pushing its price toward $4.09. A break above this level could trigger a move to $4.29.
However, if profit-taking continues, the coin’s value could dip to $3.68.
PEPE
Despite a slight pullback over the past week, PEPE also remains on Nigerian traders’ radar. According to Alabi, the coin has benefited from the broader memecoin revival, with gains of around 18% over the last 30 days.
He explained that the strong performance of more established tokens like Dogecoin (DOGE)—which gained roughly 30% in the same period—has helped to renew market confidence in smaller memecoins like PEPE.
PEPE trades at $0.000012 at press time, noting a 5% uptick in the past 24 hours. If buy-side pressure strengthens, the meme coin’s rally could reach $0.000014.