On October 31, 2025, the cryptocurrency market continues to move forward amidst volatility. Although Bitcoin's price is under pressure at the $108,000 mark, the wave of ecological construction remains strong. Yesterday (October 30), the Onboarding Quest event concluded successfully, with participants receiving a reward of 50 DRESS tokens. Meanwhile, rumors of KITE AI testnet airdrops and Coinbase Base airdrops have ignited community enthusiasm. Today, the Ethereum Fusaka hard fork is scheduled to go live on December 3, with a large ETH transfer suspected to be a BitMine operation. Binance Alpha is about to launch the KITE (KITE) token, and airdrop activities such as the second wave of Lorenzo (BANK) and Bitrue XRP rewards are heating up. Combined with yesterday's CoinGecko Q4 top airdrop list (including Base and MetaMask), this week is packed with token launches and airdrop opportunities. This article summarizes the core dynamics to help you seize the Web3 dividends.
Ethereum Fusaka Upgrade: Mainnet Launch on December 3, Unlocking a Scalable New Era with PeerDAS
The headline today is the official confirmation of the launch date for Ethereum's next major upgrade, "Fusaka." Ethereum Foundation researchers confirmed during Thursday's "all core developers" conference call that this mainnet hard fork will activate on December 3. Since mid-September, developers have been targeting this goal, and on Tuesday, Fusaka went live on the Hoodi testnet, completing final validation; earlier this month, it was successfully deployed on the Holesky and Sepolia testnets.
As a backward-compatible hard fork, Fusaka will introduce about a dozen Ethereum Improvement Proposals (EIPs), focusing on the sustainability, security, and scalability of the base chain and Layer 2 ecosystem. The most notable feature is "Peer Data Availability Sampling" (PeerDAS), a technology that simplifies validator data access, originally planned for implementation in the February Pectra upgrade but postponed to Fusaka due to testing requirements. Additionally, the upgrade will increase the block fuel cap from 30 million units to 150 million units, expected to rapidly double data block capacity. This not only alleviates congestion but also injects new vitality into the Blob mechanism post-Dencun upgrade, further reducing L2 transaction costs.
The arrival of Fusaka coincides with a warming Ethereum ecosystem. Yesterday, CoinGecko updated its Q4 2025 top airdrop list, with MetaMask and Base projects ranking high, expected to release more DeFi opportunities in conjunction with Fusaka. Community analysts predict that this upgrade may catalyze a rebound in ETH prices, with L2s like Optimism and Arbitrum's TVL expected to surge by over 20%. Developers emphasize that Fusaka is a "gradual evolution," paving the way for a more aggressive Verkle tree transition in 2026. Investors should pay attention to EIP-related tokens, such as those focused on data availability protocols, to position themselves early for potential dividends.
Large Transfer Emerges: BitMine Suspected Wallet Accumulates 44,000 ETH, Worth $166.76 Million
On-chain activity is also in the spotlight. This afternoon, according to Onchain Lens monitoring, two newly created wallets received 44,036 ETH from Kraken and BitGo about two hours ago, totaling $166.76 million, likely belonging to crypto mining giant BitMine. BitMine, as a Nasdaq-listed company (BMNR), has seen its stock price drop by 10.47% recently but continues to accumulate ETH to optimize mining pool profits, which may indicate an acceleration in its transition to PoS.
Yesterday, similar on-chain anomalies were frequent: Polymarket announced the launch of its native token and airdrop for users following the U.S. reopening, with the community speculating that the first allocation will exceed $100 million. Combined with BitMine's operations today, this wave of institutional-level transfers highlights ETH's status as an "infrastructure asset." Onchain data also shows that an anonymous whale withdrew over 20,000 ETH from Binance yesterday, suspected to be moving towards staking. BitMine's actions may boost confidence in mining stocks, and investors should track its Q4 financial report, focusing on the leverage effect of ETH reserves on stock prices.
Token Launch Preview: Kite Debuts and SEI Goes Live on Robinhood, Strong Start on November 3
The pace of token launches is accelerating. Binance Alpha will debut the Kite (KITE) token on November 3, with eligible users able to claim airdrops using Binance Alpha Points on the Alpha Events page once trading begins. KITE, as an AI-driven DeFi protocol, focuses on smart trading strategies, and CryptoRank has already listed it as a high-potential airdrop, with testnet tasks taking only 87 minutes. The first-day trading volume is expected to exceed $100 million, and the community needs to accumulate points to participate early.
At the same time, Robinhood has launched the SEI network today, supporting the SEI/USDC trading pair. SEI, as a high-speed L1 in the Cosmos ecosystem, has TPS exceeding Solana, and yesterday meme projects like Pump.fun exploded on its chain, with TVL increasing by 15% in a day. Robinhood's move expands its crypto product line, following the launch of Pudgy Penguins NFT yesterday, further bridging TradFi and Web3. Traders should pay attention to cross-chain bridging opportunities with SEI, as short-term volatility is expected to be high.
Highlights from yesterday's launches include meme-DeFi fusion tokens Little Pepe and Ethena, with Coinpedia's list showing low airdrop thresholds, attracting retail investors. In the first week of November, Kite and SEI may lead the way, and users are advised to complete KYC and bind their wallets in advance.
Airdrop Frenzy: Second Wave of BANK + Bitrue XRP, DRESS Concludes Yesterday's Excitement
The airdrop season is reaching its peak. Binance Alpha today opened the second wave of airdrops for Lorenzo Protocol (BANK), with a threshold of 240 points, first-come-first-served to receive 354 BANK tokens, costing 15 points. If the pool is not full, the threshold will decrease by 5 points every 5 minutes. BANK focuses on RWA distribution, with over 100,000 tokens allocated in the first wave yesterday, and this wave targets loyal users.
Bitrue launched a limited-time XRP reward at noon yesterday, continuing until today: new users who recharge will receive 20 XRP, with a total prize pool of 420,000 tokens; after completing KYC, deposits enjoy an 80% annualized return, with next week's Launchpool offering 50% annualized returns. The XRP community is active, and yesterday's Ripple airdrop rumors boosted the price by 3%.
Yesterday was significant: the Onboarding Quest concluded on October 30, with participants receiving 50 DRESS tokens, focusing on social mining. CryptoRank's Ventuals airdrop (launched on October 30) had a cost of only $2, completing testnet tasks in 13 minutes. Additionally, rumors of a Base airdrop are rampant, with Coinbase clarifying that there is no official token, but community odds are soaring. This week's airdrop list (Airdrops.io) includes Ethena and Pudgy Penguins, with a total expected value exceeding $50 million. Participation tips: prioritize point accumulation to avoid FOMO; the MetaMask portal went live yesterday, possibly indicating a MASK token airdrop.
Platform Transparency Upgrade: OKX PoR Third Anniversary, 100% Reserve Rate for 22 Coins
Amidst the wave of compliance, OKX today released its 36th proof of reserves (PoR), with a 100% reserve rate for 22 major coins, including BTC/ETH/USDT/USDC at 105%, 102%, 106%, and 100% respectively, totaling $35.37 billion in assets. This marks the disclosure for 36 consecutive months, achieving a three-year milestone. From Merkle trees to zk-STARK, OKX is driving the evolution of industry verification standards.
Yesterday, similar transparency measures were frequently seen: Binance updated its Alpha points system to support more airdrops. OKX's move boosts user confidence, especially in the context of the Mt. Gox payment delays. In the future, PoR may become a standard feature for CEXs, facilitating institutional entry.
Outlook for November: Fusaka Catalyzes, Airdrop Chain Reaction
On October 31, the Fusaka launch is scheduled alongside a series of airdrops, continuing the excitement from yesterday's DRESS/Ventuals events, with the crypto ecosystem poised for a surge. CoinGecko predicts that the total value of Q4 airdrops will break records, and the launch of Kite/SEI may ignite trading volume. Investors should prioritize risk: track on-chain data and participate in compliant modules. Web3 is not just speculation; it is a revolution in infrastructure—Fusaka opens a new chapter, and airdrops illuminate the path. Stay tuned for the next focus on the November 3 Kite debut!
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