- Popular CEX Cryptocurrencies
Top 10 CEX Trading Volume and 24-Hour Price Change:
- BTC: +1.16%
- ETH: +2.07%
- SOL: +0.17%
- BNB: +2.06%
- XRP: +1.64%
- DOGE: +3.20%
- SUI: +3.35%
- ADA: +2.75%
- LINK: +3.00%
- MORPHO: +5.27%
24-Hour Price Increase Rankings (Data Source: OKX):
- MLN: +85.78%
- AUCTION: +44.71%
- DEP: +17.69%
- SNX: +11.78%
- FET: +8.89%
- ZEUS: +7.80%
- API3: +7.11%
- MERL: +6.93%
- KNC: +6.45%
- BERA: +6.17%
24-Hour Stock Price Increase Rankings (Data Source: msx.com):
- STKE (Code: STKE.M): +34.95%
- Bitfarms Ltd. (Code: BITF.M): +6.59%
- BitFuFu (Code: FUFU.M): +5.83%
- Treasure Global Inc. (Code: TGL.M): +4.3%
- Verb Technology Company, Inc. (Code: VERB.M): +4.18%
- Lithium Americas Corp. (Code: LAC.M): +3.53%
- BitOrigin (Code: BTOG.M): +3.42%
- Cipher Mining Inc. (Code: CIFR.M): +2.51%
- Rigetti Computing, Inc. (Code: RGTI.M): +2.39%
- Ast Spacemobile, Inc. (Code: ASTS.M): +2.31%
- On-Chain Popular Meme Top 5 (Data Source: GMGN):
- Kingcoin
- Scode
- Kirin
- KINGS
- XERIS
Headlines
On-chain monitoring data shows that BitMine, an Ethereum treasury company, may have accumulated 379,271 ETH through three purchase transactions since the "10.11 Crash" last weekend, worth approximately $1.5 billion. BitMine Chairman Tom Lee has stated that "Ethereum will become a pillar of the digital economy." In an interview with CNBC after the trading day on Friday, he mentioned that crypto investors are still "licking their wounds" in response to record leverage shocks, but this stage is not the peak of the cycle; it is merely touching a short-term bottom and will strive to recover.
Ant Group and JD.com Suspend Stablecoin Issuance Plans in Hong Kong
Insiders revealed that Ant Group, a subsidiary of Alibaba, and e-commerce giant JD.com have suspended their plans to issue stablecoins in Hong Kong. Hong Kong passed the "Hong Kong Stablecoin Regulation Draft" in May this year, which officially took effect on August 1. As of the end of September, the Hong Kong Monetary Authority had received stablecoin license applications from 36 institutions.
Previously, Ant Group announced in June that it would participate in the Hong Kong stablecoin pilot project, and JD.com also stated it would join the relevant pilot, but both have now paused their progress. (Lianhe Zaobao)
Industry News
Vitalik Introduces GKR Protocol, Enabling Fast Proofs for ZK-EVM, zk-ML, and More
Ethereum founder Vitalik Buterin published an article this morning introducing the GKR protocol. GKR is a core protocol for achieving fast proofs for ZK-EVM, zk-ML, and other computations that adapt to "multi-layer low-order processing + extensive repetitive function applications" (such as hashing and neural networks), requiring no commitment to intermediate layers, only to input and output, significantly improving efficiency. By reducing the computational load of each round of sumcheck (like Gruen's trick) and optimizing batch processing with Poseidon2,
theoretically, the cost of proving Poseidon hashing is only 15x (traditional STARKs are 100x), and in practice, it can be below 10x, with the cost approaching zero as the data volume increases.
X Launches Account ID Trading Market Handle Marketplace
The X platform has launched the Handle Marketplace for trading account IDs, aimed at reallocating unused Handles. Eligible Premium subscribers will be able to search and submit requests, offering both free and paid options. This feature is set to launch soon, and users can now join the waiting list.
Cryptocurrency asset management firm Grayscale released a Solana ecosystem research report, noting that Solana has become the "hosting network" for blockchain applications, with decentralized exchanges like Raydium and Pump.fun built on Solana. Currently, the Solana ecosystem generates approximately $425 million in fees monthly, indicating an annual revenue potential of $5 billion. So far this year, the average transaction fee on the network has been only $0.02. Additionally, the number of full-time developers in the Solana ecosystem has exceeded 1,000, which, while lower than Ethereum, is higher than other mainstream blockchain ecosystems.
Regarding the native network token SOL, Grayscale believes that although the token supply is growing at an annual rate of about 4%–4.5%, SOL stakers can generally earn a nominal yield of 7%, meaning the actual yield can be maintained at around 2.5%-3%. If the Solana network grows over time, investors can expect the price of SOL to rise accordingly.
Project News
Insiders: Polymarket Token to Be Issued in 2026 After U.S. Market Reopening
Insiders revealed that Polymarket plans to issue a crypto token after re-entering the U.S. market, but this may not happen until 2026. Meanwhile, with the confirmation of the Polymarket token issuance plan, platform users have changed their airdrop strategy, adopting more complex methods to avoid being targeted by "witches."
Unlike the obvious volume manipulation seen last year, current users have shifted to using over 100 wallets for operations or optimizing their performance in terms of trading volume, profitability, liquidity provision, and the number of trading markets to meet the expected airdrop conditions.
Backpack announced that it has completed the verification and processing of all cases during the market crash on October 11. Throughout the event, Backpack did not experience socialized loss or clawback, and the risk engine remained stable under extreme pressure, with the system operating normally during and after the event.
To assist affected users, Backpack has launched a cash compensation plan, including:
Basis trade (spot-contract arbitrage) accounts:
Accounts with leverage below 5x will receive 100% compensation;
Accounts with leverage above 5x will receive partial compensation based on leverage and market conditions.
Users whose BTC lending positions were passively reduced due to ADL: 100% compensation.
Funds recharged before settlement: 100% disbursed.
All liquidation fees: 50% refunded.
Additionally, Backpack will announce a new roadmap detailing plans and feature releases for the coming days, weeks, months, and the next year. Backpack is steadily moving towards the conclusion of Season 4, with some long-prepared and significant updates still on the way.
STBL Announces $100 Million USST Minting Plan Has Started, Initial Minting Exceeds $2 Million
STBL announced on the X platform that its $100 million USST minting plan for the fourth quarter has officially started, completing over $2 million in initial minting as part of a phased rollout. Meanwhile, the project team is enhancing the automatic peg mechanism and integrating with Franklin Templeton's IBENJI to strengthen stability, liquidity, and yield performance.
Coreon Fundraising Amount Exceeds $20 Million in Pre-sale on Four.meme Platform
Platform data shows that as of October 19, the AI+Intent project Coreon (COM) has raised over $20 million in fundraising on the Four.meme platform, with over 40,000 participants. It is reported that Coreon is built on its self-developed MCP protocol (Multi-Chain Cognitive Protocol), serving as the foundational protocol for AI intent layers, enabling on-chain operations through natural language.
Investment and Financing
Tempo Completes $500 Million Series A Financing, Led by Thrive Capital
Tempo, a blockchain project focused on payments supported by fintech giant Stripe and blockchain venture capital firm Paradigm, announced the completion of $500 million in Series A financing, led by venture capital giants Greenoaks and Thrive Capital, founded by Joshua Kushner. This round of financing values Tempo at $5 billion, with participation from Sequoia Capital, Ribbit Capital, and Ron Conway's SV Angel.
AI+Web3 recruitment platform TradeTalent announced the completion of $8 million in financing, co-led by Nasdaq-listed Allied Gaming & Entertainment (NASDAQ: AGAE) and technology engineering company Hicop Engineering. The funds will be used to accelerate the development of AI skills verification technology, expand the global network of enterprises and talent, and improve the Web3 trust infrastructure of the platform.
TradeTalent is committed to building a global trusted skills network that connects Web2 and Web3, providing on-chain AI interview and skills certification services, generating tamper-proof skills NFTs for job seekers, and addressing issues such as resume fraud, high investigation costs, and privacy breaches in traditional recruitment.
Lead investor Allied Gaming & Entertainment is accelerating its Web3 strategic layout, focusing on the RWA tokenization field; the other lead investor, Hicop, focuses on energy and engineering technology solutions.
Regulatory Trends
Paul Atkins, Chair of the U.S. Securities and Exchange Commission (SEC), stated at an event in Washington, D.C. that the U.S. "may have fallen behind in the crypto space by about a decade." To attract innovators back and promote industry development, establishing a comprehensive regulatory framework has become a top priority.
Atkins pointed out that the SEC's goal is to "create a strong system that allows innovation to thrive," ensuring that the U.S. becomes a center for the crypto space again.
Bloomberg: The Bank of England Plans to Implement Stablecoin Regulatory Framework by the End of 2026
The Bank of England will launch a consultation on stablecoin regulation on November 10, aiming to establish a complete regulatory framework by the end of 2026. The new regulations will closely align with U.S. rules, focusing on bonds that support digital assets. This move aims to address financial stability risks arising from the proliferation of digital currencies. The U.S. regulations stipulate that supporting assets must be government debt with a maturity of three months or less or bonds with a remaining maturity of three months or less. Insiders added that the Bank of England also plans to allow a large number of assets supporting stablecoins to earn interest to attract issuers.
Voices
Jack Dorsey: Bitcoin is Not Cryptocurrency, It is Money
Twitter co-founder and Block (formerly Square) CEO Jack Dorsey stated, "Bitcoin is not cryptocurrency; Bitcoin is money. (bitcoin is not crypto, bitcoin is money)"
Ansem: From a Technical Perspective, the Market Has Entered a Momentum Exhaustion Phase
Crypto KOL Ansem stated that a clear SFP (Swing Failure Pattern) can be observed in the weekly charts of XRP, SOL, and ETH, indicating that the market trend resembles a momentum termination rather than a new bull market. He pointed out that this situation is similar to LTC's trend in 2021, and BTC's price has now fallen below the 2024 peak.
Ansem believes that the extensive distribution phase lasting 10 months may be nearing its end, as the market lacks new narrative drivers. MSTR has fallen below the 200-day moving average for the first time since peaking last November, turning into a resistance level, indicating a weak market structure. He added that unless BTC reclaims $112,000, it is difficult to change the current bearish outlook.
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