Track market-moving stories before they get noisy

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In the week ending October 11, 2023, BitMine Immersion Technologies (NYSE: BMNR) purchased 12,532 ETH for an indicative value of 31.9 million dollars. However, the releases from October 5 and 12 reveal a very different reality: the total value of the company’s crypto assets, cash, and strategic holdings dropped from 17.4 to 16.2 billion dollars in one week. This development illustrates a key distinction: accumulating Ethereum crypto-assets does not guarantee an increase in portfolio value.

In brief

BitMine purchased 12,532 ETH in the week ending October 11, 2026, at a reference valuation of $2,544 per ETH.
Its reserves reach 6,028,946 ETH, or 4.9% of a supply estimated at 122.1 million ETH.
The announced total value of its crypto assets, cash, and holdings falls from $17.4B to $16.2B in one week.
At constant supply, 76,054 ETH theoretically separate BitMine from the 5% threshold, according to our calculations.
The company has staked 5,067,309 ETH and estimates annualized revenues of $336M, based on a recent yield of 2.61%.

How many ETH does BitMine lack to reach 5% of the global Ethereum supply?
As of October 11, 2026, BitMine held 6,028,946 ETH. This represents 4.9% of the supply estimated at 122.1 million tokens, according to its press release on October 12. At constant quantity, the threshold corresponds to 6,105,000 ETH. Hence, the company theoretically lacks 76,054 ETH.

However, this calculation differs from Tom Lee’s rounded estimate. In his monthly message on October 7, the president of BitMine mentioned about 100,000 additional ETH before the end of the Ethereum accumulation phase. The gap can be explained notably by :

the rounding used by the executive ;
the evolution of crypto holdings between the two dates.

Based on an ETH price of $2,544, the 76,054 missing tokens would represent about $193.4 million. However, this is an estimate based on the reference price used by BitMine, not the guaranteed future cost of crypto acquisitions.

The company claims to have purchased Ethereum every week since launching its cash strategy on June 30, 2025. According to it, the program has thus been realized to 99%. In its October message, Tom Lee even indicates that BitMine is approaching the end of this Ethereum accumulation phase. The exact timing of the last purchase is, however, not established.

Why does BitMine lose $1.2 billion in valuation despite its crypto purchases?
The total value of BitMine’s crypto assets, cash, and strategic holdings declined from 17.4 billion dollars on October 4 to 16.2 billion dollars on October 11, 2026. The decrease thus amounts to 1.2 billion dollars, or about 6.9% in one week.

The main explanation lies in the value of Ethereum. The reference price used by BitMine actually fell from $2,726 on October 4 to $2,544 on October 11. This represents a decline of about 6.7%. This drop occurs despite the purchase of an additional 12,532 ETH.

Other holdings also impacted the valuation. BitMine notably values its stake in Eightco Holdings at 85 million dollars on October 11, compared to 117 million dollars a week earlier. The company also holds a declared stake of 180 million dollars in Beast Industries. Its cash and marketable securities stand at 612 million dollars, compared to 643 million dollars on October 4.

IndicatorOctober 4, 2026October 11, 2026ETH held6,016,4146,028,946Reference price of ETH$2,726$2,544Cash and marketable securities$643M$612MParticipation in Eightco$117M$85MTotal declared assets, cash, and holdings$17.4B$16.2BSource: BitMine press releases from October 5 and 12, 2026. The values are those declared by the company at the indicated reference dates.
Ethereum purchases slow down as the 5% threshold approaches
BitMine bought 53,501 ETH in the week ending August 30, 2026, compared to only 12,532 ETH in the week ending October 11. According to our calculations, the decline reaches about 76.6% over six weeks.

This comparison, however, does not imply that the company stopped accumulating. It declared that it has continued its purchases every week since launching its “Alchemy of 5%” program. The slowdown also seems consistent with the proximity of the announced goal. However, it is not sufficient to prove that Ethereum purchases will stop immediately after the next publication.

Release dateETH bought during periodTotal heldAugust 31, 202653,5015,901,112September 8, 202628,0865,929,198September 14, 202627,1805,956,378September 28, 202644,924 over two weeks6,001,302October 5, 202615,1126,016,414October 12, 202612,5326,028,946Sources: Weekly BitMine releases published on PR Newswire. The periods covered are not all identical, notably that of September 28, which covers two weeks.
Tom Lee presents the strategy as a means to accumulate a significant share of the Ethereum supply before a possible new bullish phase. This interpretation obviously belongs to BitMine’s management. It neither proves that the Ethereum price will rise nor that BMNR’s stock will evolve in the same proportions.

The accumulation of most of our 6 million ETH took place during a bear market, and as the company approaches its 5% ETH accumulation target, we believe it is well positioned heading into the next bull market.

Ethereum staking represents 84% of BitMine’s reserves
As of October 11, BitMine declared to have staked 5,067,309 ETH in staking. This represents about 84% of its 6,028,946 ETH. At the reference price of $2,544, this amount represented about 12.9 billion dollars.

That’s not all! BitMine also estimates its annualized staking revenues at 336 million dollars, based on an annualized yield of 2.61% calculated from the last seven days. At full scale, the company projects annualized revenues of 400 million dollars if its holdings were fully staked by MAVAN and its partners.

One thing is certain: BitMine seems to be approaching the end of its “Alchemy of 5%” program. Expected around October 19 (if the publication pace continues), the next weekly update will allow verification of the volume of new purchases and the valuation retained for Ethereum. Story to follow…

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Ariela R.

My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Bitcoin, salı sabahı 80.850 dolara düştükten sonra birkaç saat içinde 83.500 dolara yaklaştı. Bu sert dönüş, kripto piyasasında 810 milyon doları aşan tasfiyeye eşlik etti. Kayıpların yaklaşık yüzde 85’i yükseliş bekleyen long pozisyonlardan geldi.

Bitcoin 80.850 Dolardan Hızla Toparlandı Bitcoin, önceki iş haftasının sonunda 80.400 dolara gerileyerek 18 günlük en düşük seviyesini görmüştü. Alıcılar hafta sonunda devreye girdi ve BTC’yi 83 bin dolara taşıdı.

Ardından hedef 84 bin dolardı. Ancak pazartesi günü gelen satışlar yükselişi durdurdu. Salı sabahı yeni bir düşüş dalgası başladı ve Bitcoin, Bitstamp verilerine göre 80.850 dolara kadar indi.

Sonrasında yön yeniden değişti. BTC birkaç saat içinde 83.500 dolara yaklaştı. Fakat bu toparlanma, 84 bin dolar direncinin aşıldığı anlamına gelmiyor.

Altcoinlerde de Sert Hareketler Yaşandı Bitcoin’deki dalgalanma altcoinlere de yansıdı. Bazı büyük kripto varlıklar dip seviyelerinden toparlansa da son 24 saatlik performansları farklılaştı:

Ethereum (ETH): 2.410 dolara düştükten sonra yaklaşık 100 dolar toparlandı. XRP: 1,31 dolardan 1,36 dolara yükseldi. Buna rağmen 1,40 dolarda satışla karşılaştığı için son 24 saatte yüzde 3’ten fazla değer kaybetti.

Kripto Tasfiyeleri 810 Milyon Doları Aştı CoinGlass verilerine göre son 24 saatte yaklaşık 810 milyon dolar değerindeki long ve short pozisyon tasfiye edildi. Tasfiyelerin yaklaşık yüzde 85’ini long pozisyonlar oluşturdu. Bu dağılım, yükseliş beklentisiyle kaldıraçlı işlem açan yatırımcıların daha ağır kayıp yaşadığını gösteriyor.

Tasfiye edilen yatırımcı sayısı 173.611’e ulaştı. Binance’te gerçekleşen en büyük tekil tasfiyenin değeri ise 9,6 milyon doları aştı.

Bitcoin’in birkaç saat içinde önce 80.850 dolara gerileyip ardından 83.500 dolara yaklaşması, kaldıraçlı piyasalardaki riskin boyutunu ortaya koyuyor. Yine de fiyatın toparlanması tek başına düşüş baskısının sona erdiğini kanıtlamıyor. Piyasada 84 bin dolar seviyesi önemini koruyor.

Bitcoin Neden Düştü? Jeopolitik Gerilim ve Tahvil Baskısı Kripto piyasasındaki satış baskısı, Orta Doğu’daki çatışmanın tırmanmasıyla aynı döneme denk geldi. CBS’nin haberine göre Husilerin Suudi Arabistan’daki havalimanlarına yönelik saldırıları bir hafta içinde en az 20 kişinin ölümüne yol açtı. ABD Başkanı Donald Trump da Washington’un Yemen’deki Husilere karşı Suudi Arabistan’ın operasyonlarına katılabileceğini söyledi.

Enflasyon endişeleri de piyasalar üzerinde baskı oluşturdu. ABD Hazine tahvili getirilerinin 24 yılın en yüksek seviyelerine yakın seyretmesi, faiz getirisi sunmayan kripto varlıklara kıyasla tahvilleri daha cazip hâle getirebilir.

Asya piyasalarındaki satışlar da risk iştahını zayıflattı. Güney Kore’nin KOSPI endeksi salı günü yaklaşık yüzde 5 gerilerken Samsung Electronics ve SK Hynix hisseleri de düştü. Ethereum hazinesi şirketi BitMine’ın yönetim kurulu başkanı Tom Lee, Güney Kore piyasasındaki düşüşü kripto varlıkların kayıplarıyla ilişkilendirdi.

Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.

Son Dakika kripto para haberleri için hemen tıkla.

Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.

Raoul Pal expects the cryptocurrency market to reach $10 trillion within the next 18 to 24 months and potentially $100 trillion by 2035. The Real Vision CEO believes rising global liquidity, AI investment, stablecoins and tokenized assets will support long-term crypto growth.

Speaking at Suie Base Camp in Singapore on October 7, Pal said crypto prices remain below their long-term trend but warned that financial conditions have not yet signaled a sustained recovery.

The outlook comes after more than $1 billion in leveraged crypto positions were liquidated over 24 hours on October 8–9, with most losses affecting traders who had bet on rising prices.

Bitcoin Is UndervaluedPal said Bitcoin is trading below its long-term trend and remains undervalued compared with technology stocks. However, he does not expect an immediate rally because global liquidity conditions remain weak.

He identified long-term interest rates, oil prices and the US dollar as key factors affecting financial markets. A weaker dollar and improving liquidity would provide a stronger signal for crypto prices.

“Crypto is far too cheap where it should be anyway,” Pal said, adding that investors should consider the long-term trend rather than focus only on short-term price movements.

Pal also advised investors who cannot tolerate sharp market declines to reduce their exposure and keep funds available for potential buying opportunities.

AI Investment Could Extend the Crypto CyclePal rejected the view that rising AI investment will necessarily lead to a major debt crisis. He argued that large technology companies have relatively low debt compared with their market valuations and cash-generating capacity.

He acknowledged that some AI infrastructure companies could face financial problems if revenues fail to meet expectations. However, he believes a failure involving a company such as OpenAI would not automatically end the broader AI investment cycle, as other companies could acquire its computing infrastructure.

Pal compared the current AI investment boom with the telecommunications expansion of the late 1990s. Although several telecom companies collapsed after investing heavily in internet infrastructure, their networks later supported wider internet adoption.

He also expects AI to increase productivity by reducing the cost of computing and generating intelligence. In his view, stronger productivity growth could help economies expand without requiring debt to rise at the same rate.

Pal said investors should not assume Bitcoin’s traditional four-year cycle will determine the timing of the next market peak, as broader economic and technology trends could extend the cycle.

Stablecoins and Tokenized Stocks Could Drive Crypto GrowthPal identified stablecoins and tokenized real-world assets as important sources of future demand for blockchain networks.

Stablecoins can support payments and trading, while tokenization allows traditional financial assets such as stocks, bonds and investment funds to be represented on blockchains.

He expects financial institutions to bring more assets on-chain, increasing the use of blockchain infrastructure beyond cryptocurrency trading. Pal also sees potential demand from AI agents that use digital financial services.

Discussing the scale of this opportunity, Pal said, “We’ll get to a trillion dollars of stable coins in by in the next four years, three years.”

His estimate reflects his expectation of continued stablecoin adoption rather than a guaranteed market outcome.

Raoul Pal’s $10 Trillion and $100 Trillion Crypto Market TargetsPal expects the total cryptocurrency market to reach approximately $10 trillion within 18 to 24 months and potentially $100 trillion by 2035.

These are market-wide projections, not specific price targets for Bitcoin or Ethereum. Pal did not provide individual coin prices in the cited remarks.

Reaching these valuations would depend on continued crypto adoption, improving liquidity and increased use of blockchain networks for financial transactions. The results would also depend on how market value is distributed across Bitcoin, Ethereum and other digital assets.

Pal said the financial system is beginning to move toward blockchain-based infrastructure, with stablecoins and tokenized securities among the developments he expects to support growth.

What Could Affect Crypto Prices Next?Pal said the market still lacks a clear signal for a sustained recovery. Investors should watch global liquidity, US dollar movements, oil prices and interest rates to assess whether financial conditions are improving.

Stablecoin supply is another indicator to monitor because it provides a measure of the dollar-linked assets available within crypto markets.

Although Pal remains bullish over the long term, further tightening in financial conditions could prolong market volatility. His projections depend on liquidity improving and adoption continuing; neither outcome guarantees that crypto prices will rise on a particular timeline.

Story Ends Here

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BitMine Immersion Technologies increased its Ethereum holdings last week, purchasing 12,532 ETH and bringing its total treasury to approximately 6.028 million tokens. The company, led by Chairman Thomas Lee, is now approaching its stated goal of holding 5% of Ethereum’s circulating supply, despite facing more than $4 billion in unrealized losses on these assets.

BitMine’s accumulation strategy and bullish outlookBitMine Immersion Technologies operates as a digital asset mining and holding company specializing in blockchain and cryptocurrency applications. By steadily adding to its ETH reserves, BitMine has positioned itself as a major holder in the Ethereum ecosystem.

Thomas Lee described four potential drivers that could underpin an extended crypto bull market: increased use of tokenization, impending generational wealth transfers, aggressive accumulation of crypto assets by digital asset treasury companies, and the expanding relationship between cryptocurrencies and artificial intelligence. Lee emphasized that younger generations inheriting significant wealth may have a greater appetite for assets like cryptocurrencies and equities, supporting longer-term demand.

He also noted that growing holdings by digital asset treasury companies could reduce the available supply of major cryptocurrencies. Lee drew a comparison to the 2019 to 2021 market cycle, stating that treasury accumulation now plays a much more prominent role.

These factors underpin Lee’s view that the market could see a significant bull run, though he stopped short of declaring that a record cycle is guaranteed.

BitMine’s intention is to halt further ETH purchases once its holdings reach 5% of the total Ethereum supply. This target, if achieved, would remove a substantial recurring source of demand that has helped support ETH prices over the past year.

According to Lee, much of the company’s current ETH reserve was acquired during the recent bear market, positioning BitMine to benefit should market conditions recover. However, Artemis data reveals that the firm’s ETH holdings currently face unrealized losses exceeding $4 billion.

Mini dictionary: Artemis, a blockchain analytics platform providing on-chain data for assets such as Ethereum, Bitcoin, and others. Artemis delivers insights into token holdings, market trends, and network activity for institutional and retail investors.

CompanyTotal ETH HeldTarget ETH Supply ShareUnrealized LossBitMine Immersion Technologies6.028 million5%$4 billionEthereum technicals: Price rebounds from supportEthereum recorded approximately $183.61 million in liquidations during the past 24 hours, with long positions contributing $144.37 million. Despite volatility, ETH defended the $2,400 support level and is currently trading around $2,523.

On the daily chart, Ethereum has managed to reclaim the 20-day EMA near $2,592. Immediate resistance is observed at $2,548, while key support areas include the 50-day EMA at $2,503 and the 100-day EMA at $2,351.

Technical indicators show the Relative Strength Index near 42 and the Stochastic oscillator at approximately 28, signaling muted buying momentum as ETH attempts to stabilize.

A sustained recovery above $2,592 could shift focus to resistance at $2,636 and $2,781, while losses below $2,503 risk exposing ETH to deeper support around $2,204 and $1,971.

The price action leaves Ethereum’s short-term outlook neutral to moderately positive. The market continues to monitor whether BitMine’s accumulation and Lee’s optimistic scenario could influence ETH’s trajectory in the coming months.

Blur will retire its trading website on November 12, leaving its marketplace contracts on Ethereum while its Blend lending service stops matching new loans. Its exit from the interface business follows the closures or contraction of several NFT venues. The distinction between an NFT, the contract that transfers it and the website through which a holder can manage it now matters more than the industry’s old volume rankings.

Summary

Blur’s website will close on November 12, 2026, while its Ethereum marketplace contracts remain operational. Blend will stop matching new loans on November 12, and borrowers must repay or face the protocol’s default process. X2Y2 shut its marketplace in April 2025, while Binance NFT ended service in July 2026. Magic Eden left Bitcoin and EVM NFT trading in March 2026 but continued operating its Solana marketplace. Blur’s March 2026 monthly volume was under $7 million, compared with about $1.43 billion in March 2023. Blur’s October 12 notice set a date for retiring its frontend, the website through which most people encounter its marketplace. The protocol will remain operational on Ethereum, and BLUR holders will retain control of its fee switch. A separate Blend notice said the lending service would stop matching new loans on the same date. Borrowers have until then to repay or allow their loans to default; a later withdrawal interface is promised for remaining assets.

JUST IN: s ethereum:0x5283d291dbcf85356a21ba090e6db59121208b44 drops 32% as Blur marketplace announces shut down of its marketplace frontend on Nov. 12

Blend will stop matching new loans on the same date, giving borrowers until then to repay or risk default, while Blur’s… pic.twitter.com/z9Aw62b4FW

— crypto.news (@cryptodotnews) October 13, 2026 Those sentences describe different kinds of continuity. Smart contracts can keep accepting transactions after the company stops maintaining a familiar website. A borrower who needs to manage a loan has a more immediate problem than a collector whose NFT simply remains in a wallet. Comparing Blur with other retreats reveals which functions survived and which depended on a business paying to keep the doors open.

Blur is retiring its interface, not deleting Ethereum assets Blur’s October news described a platform built for traders who needed collection bids, bulk actions and tools that a conventional gallery style marketplace did not provide. Its fee free trading model and token incentives helped it gain share during the 2023 NFT boom. The closure announcement does not say that Ethereum tokens traded on Blur will disappear. Ownership is recorded in the respective NFT contracts, which are separate from the marketplace website.

A marketplace contract is another layer. It can execute a transaction if a user or replacement interface supplies the required call and the relevant approvals, payment and signatures remain valid. A contract remaining live is not a commitment that a team will maintain search, order books, customer support, analytics or a convenient way to cancel an old listing. Blur has not announced a replacement marketplace interface. The practical usability of its contracts after November 12 will depend on outside tools and the status of existing orders.

The BLUR token will continue to govern the protocol fee switch, according to the project. That is a defined governance role, not a promise that fees will be turned on or distributed to token holders. Blur did not announce a new business plan in the shutdown notice. The value of a fee switch depends on future trading activity, decisions by token holders and the contract’s actual economics.

CoinDesk’s comparison of marketplace data puts Blur’s monthly volume at roughly $1.43 billion in March 2023 and below $7 million in March 2026. Even taking $7 million as the upper bound, the fall exceeds 99.5%. Gross trades are not revenue. At a zero marketplace fee, a billion dollars of turnover can produce no transaction fee for the protocol. Incentive costs and the economics of the company behind the website are separate questions for which the public notice offers no complete accounts.

Blend leaves borrowers with a different deadline Blend introduced lending against NFTs in 2023. A borrower pledges a collectible as collateral, receives funds and remains subject to the loan’s refinancing and default rules. The lender’s claim and the borrower’s ability to recover the NFT are governed by the loan arrangement, not by a headline saying a marketplace has shut down. Blur’s Blend schedule is therefore the more consequential notice for a user with an open position.

New loan matching ends November 12. Existing borrowers have a choice under the published statement: repay by then or allow default. Blur says it will provide a frontend tool after the cutoff for users to withdraw assets from Blend. It has not, in that notice, specified the launch time of the withdrawal tool, a complete list of supported positions or a current total of outstanding loans. An editor cannot infer that every lender or borrower has identical choices from the single sentence announcing the service change.

A trade in an NFT and a loan secured by an NFT involve different counterparties. Market liquidity can vanish without transferring ownership of a token. A lending default can change rights to pledged collateral even though a token still exists on Ethereum. Holders should distinguish the marketplace deadline from their own contract terms, and verify any recovery instructions through the project’s official channels. Closure announcements are particularly easy for impersonators to copy.

The original Blend launch explanation describes peer to peer loans without fixed expiration, and explains refinancing auctions. Those mechanics help explain why winding down new matches may matter before an old loan has a simple calendar maturity. The current notice controls the announced timeline; the 2023 design document is context for how the protocol worked, not a substitute for current position specific terms.

Which NFT businesses actually closed? X2Y2’s founder said in March 2025 that its marketplace would close on April 30 after three years. The team cited the drop in NFT trading and its decision to move into other work. Contracts remaining onchain did not preserve a functioning marketplace business. X2Y2 had reported $5.6 billion in lifetime volume, a cumulative measure that said little about the volume available to pay for future operations.

"After an incredible 3-year journey, I have some important news to share: X2Y2 will be sunsetting as an NFT marketplace on April 30, 2025. The contracts will remain live, but the platform itself will shut down." CEO @tp_x2y2 @the_x2y2 shuts down its NFT marketplace. pic.twitter.com/LqvTQjlyeE

— crypto.news (@cryptodotnews) March 31, 2025 MakersPlace announced its closure in 2025 after struggling with deteriorating conditions for digital art. Its account of the shutdown describes efforts to preserve access to works and help users recover assets held through its custody arrangements. The distinction matters: a self controlled NFT in a wallet and a work accessed through an account or embedded wallet do not require the same exit instructions. The company’s later shutdown account says winding down the site and business took almost 10 months.

Foundation’s founder said in May 2026 that an attempted rescue transaction had failed and its marketplace would not return to active service. The temporary restoration reported at the time was designed to let users delist NFTs and secure assets. A site briefly available for withdrawals should not be counted as a restored venue.

Binance closed its NFT marketplace in July 2026, giving users a deadline to withdraw transferable NFTs. Its NFT venue was part of a much larger exchange; the closure was of the NFT product, not Binance as a company. Magic Eden ended Bitcoin and EVM marketplace support in March 2026 while keeping its Solana marketplace. It is inaccurate to say Magic Eden as a whole went out of business. Each retreat removed a different route into NFT trading.

PlatformChangeWhat remained or required attentionBlurWebsite scheduled to close November 12, 2026Ethereum contracts continue; Blend users face a loan deadlineX2Y2Marketplace closed April 30, 2025Existing onchain assets and contracts did not preserve the trading siteMakersPlaceCompany and site closed during 2025Asset access depended partly on custody and retrieval arrangementsFoundationMarketplace closure confirmed in May 2026Temporary user access for delisting and securing assetsBinance NFTNFT product ended in July 2026Parent exchange continued; transferable NFTs had a withdrawal deadlineMagic EdenBitcoin and EVM trading ended in March 2026Solana marketplace continued Trading volume hid the business question The NFT industry often ranked venues by gross turnover. Volume can indicate liquidity, but it cannot by itself explain whether a marketplace can pay engineers, customer support, indexing services and security reviewers. Multiply Blur’s March 2026 volume ceiling of $7 million by a zero trading fee and transaction fee revenue remains zero. Other income streams, if any, would require separate accounting. The calculation is simple, but it cuts through the common assumption that a large historical volume figure proves a lasting business.

Trading incentives further complicate comparisons. A platform that rewards activity can attract orders that would not occur at the same frequency without rewards. Collection bids and rapid flips can make a venue essential to traders for a period without making it the default place for long term collectors. When incentives end, the relevant question is how much organic flow remains and whether that flow pays enough to maintain the service. Public volume alone cannot divide organic trades from incentive motivated ones.

For users, concentration has another cost. If collectors, lenders and developers arrange their workflows around one website, its closure can disrupt listings and price discovery even when ownership is decentralized. Interfaces perform indexing, filtering and presentation work that a raw Ethereum node does not provide. OpenSea and other surviving venues can list assets, but existing orders, fee settings, royalties and lender claims may not migrate as a simple website redirect.

The competing view deserves weight. A protocol can outlive its original operator precisely because its contracts are public and composable. Developers could create a replacement Blur interface, and users can move NFT inventory across marketplaces without a central registry moving their tokens. Blur’s continued contracts give that argument a concrete basis. What has not been shown is whether independent teams will provide the full set of tools and order discovery that the closing website supplied, or how much demand will remain for them.

The exit problem differs by asset and account An NFT holder with a token in a self controlled wallet can check the collection contract and wallet address on Ethereum regardless of the Blur website. A user with an outstanding Blend loan needs to inspect the loan’s terms and collateral status before November 12. A trader with an active listing may need to understand where the signed order can still be executed and how to revoke it. A maker who relied on a platform to host images or metadata needs to check where those files live. One closure notice cannot settle all four situations.

Token ownership and media availability are separate. NFT metadata may point to files hosted on decentralized networks, a project’s server or a third party. A marketplace typically displays information it fetches from those locations. Its closure can remove a convenient display without deleting the token or the underlying file. If the file itself depends on a service that ends, a holder can face a different problem: a token that remains transferable but displays a broken reference. The answer depends on each collection’s contract and storage design.

The same care applies to approvals. A user may have authorized a marketplace contract to transfer a collection or a token. Whether that approval remains active after the site closes depends on the contract and wallet state. A disappearing interface does not automatically revoke permissions. Equally, a general claim that every old approval is dangerous would be unsupported. The practical check is an onchain view of the wallet’s current authorizations, using independently verified contract addresses.

The platform exits do not establish that NFT art, game items or collectible markets have ended. OpenSea expanded Solana support in 2026, and Magic Eden retained Solana trading even as it closed other lines. The closures do establish that several specific services could not or did not continue in their prior form. Any account of an industry wide collapse has to separate a company’s finances from demand for each chain and collection.

Blast is connected to Blur, but it is a separate closure Blast, the Ethereum layer 2 associated with Blur founder Tieshun Roquerre, announced its own wind down on October 2. Its stated issue was that network costs exceeded revenue. Blast users were told to move assets back to Ethereum by an interface deadline; later contract access was described as a recovery route. A layer 2 network is infrastructure, not an NFT marketplace, so counting Blast as another marketplace closure would misstate the pattern.

The connection is still useful. Both projects made user access depend on maintained interfaces and operating teams, and both published paths for users to interact with surviving onchain systems. Network shutdown adds a bridge and asset migration problem that an Ethereum based marketplace frontend does not create. A collector holding an Ethereum NFT listed on Blur should not assume the Blast withdrawal schedule applies to that token. A Blast user should not rely on Blur’s November date for funds on the layer 2.

Chronology matters here: Blast announced its plan 10 days before Blur’s October 12 notice. That sequence is observable. It does not prove that one shutdown caused the other, nor does it disclose how the projects allocated staff or funds. The public announcements state different operational reasons and deadlines.

What could reverse the marketplace retreat? A recovery in NFT trading would improve the opportunity for marketplaces, but volume alone would not solve a model with no transaction fee. Surviving venues may earn from fees, ancillary tools, launch services or lending, each carrying its own costs and dependence on users. Measuring sustainable activity would require comparing fee income, incentives paid, repeat users, development spending and liquidity across collections. The closure notices do not publish a sector wide ledger with all of those entries.

JUST IN: Billionaire NFT collector Adam Weitsman buys 117 Pudgy Penguins NFTs

Weitsman says the purchases were meant to support the collection during a tough period, as Pudgy Penguins’ weekly NFT sales surged 125.66% through Oct. 10, according to CryptoSlam. pic.twitter.com/EmCwiq8Sy1

— crypto.news (@cryptodotnews) October 12, 2026 NFTs also have uses that are not repeated marketplace trades. A gallery can be maintained for long held art while trading remains light. A game item can be useful inside a game without changing hands every week. These use cases do not automatically finance a broad trading terminal. Conversely, strong demand for the asset category would not guarantee the survival of any particular intermediary that once captured its trading flow.

The narrower conclusion is more useful than a proclamation that NFTs are dead. Blur, X2Y2, MakersPlace, Foundation and Binance NFT had different clients and structures, yet each reduced or ended a service once presented as durable. A holder should know the location of the token, the identity of any custodian, the state of active orders and the deadlines for a live loan. Those facts survive headline debates about the sector.

What to watch November 12 website cutoff: Check whether Blur publishes exact steps for listings, bids and contract interaction before the frontend closes. Blend loan matching: Track whether new matches stop on schedule and how existing borrower and lender positions are handled. Withdrawal interface: Verify the release date, supported positions and official domain of the promised Blend recovery tool. Independent interfaces: Look for a working third party interface to Blur’s contracts and evidence of actual order flow after the website closes. Marketplace economics: Compare post closure trading activity with observable fee income instead of treating historical gross volume as revenue. FAQ Is Blur shutting down completely? No. Its website is scheduled to close on November 12, 2026, while its Ethereum marketplace contracts remain operational. The announcement does not guarantee continued maintenance of the familiar interface.

Will NFTs bought through Blur disappear? A Blur website closure does not delete an Ethereum NFT held in a wallet. A particular collection’s metadata and media depend on its own storage arrangement.

What happens to Blend loans on November 12? Blend stops matching new loans. Blur says borrowers must repay by the date or allow default under the protocol, and promises a later withdrawal interface.

Did Magic Eden shut down too? Magic Eden ended Bitcoin and EVM NFT marketplace support in March 2026 but continued its Solana marketplace. Calling the entire company closed would be inaccurate.

When did X2Y2 close its marketplace? X2Y2 announced an April 30, 2025 marketplace shutdown. Its founder cited the sharp fall in NFT trading and a move toward other work.

Can a listing remain executable after a website closes? Potentially, depending on the signed order, contract state and approvals. The shutdown notice alone does not cancel every authorization; users should check their own onchain position.

Was Blast another NFT marketplace that closed? No. Blast was a separate Ethereum layer 2 project associated with Blur’s founder. Its October 2 wind down involved network and bridge withdrawals.

Does the closure prove NFTs have no buyers? No. It establishes a change in several specific marketplace businesses. Other venues and collections still operate, and NFT ownership is separate from the survival of a trading site. This is educational analysis, not investment advice.

Disclaimer: This article is for information and educational purposes only and does not constitute financial or investment advice. Figures reflect regulatory filings and reporting available at the time of writing and change with each disclosure. Nothing here is a recommendation to buy, sell, or hold any security or asset. Always do your own research. Information is accurate as of October 13, 2026.

Leading cryptocurrencies plunged on Monday as geopolitical uncertainty and upcoming inflation data kept investors on edge.

Crypto Market PlungesBitcoin nearly slipped below the $81,000 mark before staging a late-evening rebound. Ethereum dipped to the $2,400 level and is now down nearly 10% over the last week. XRP and Dogecoin also recorded steep drops.

Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 1.08% and 0.83%, respectively. 

More than $775 million in cryptocurrency positions were liquidated over the past 24 hours, including $493 million in just the last four hours, according to Coinglass data. Long position traders bore the brunt of the losses.

Read Next

Bitcoin’s open interest slipped 1.64% over the last 24 hours. Retail and whale derivatives traders on Binance, meanwhile, flipped “Bullish” on BTC, increasing their long exposure.

Top Gainers (24 Hours) 

Dow Rallies, S&P Near FlatlineStocks had a mixed day on Monday. The Dow Jones Industrial Average rose 195.60 points, or 0.38%, to close at 51,850.55. The S&P 500, in contrast, fell 0.06% to end at 7,807.24, while the tech-heavy Nasdaq Composite shed 0.44% to close at 27,245.90.

Russian strikes on Ukrainian energy facilities continued even after President Donald Trump announced an “energy ceasefire” between the two countries.

The United States Oil Fund (NYSE:USO), which tracks WTI crude oil, sharply rebounded, closing up 1.91% at $151.03 on Monday.

‘Pullback Isn’t the End of Anything’Ali Martinez, a widely followed cryptocurrency analyst and trader, noted that whales have increased accumulation as Bitcoin fell from $87,000 toward $80,000. However, they believe the asset still needs to clear a key “hurdle” first.

“On-chain data shows nearly 800,000 BTC were previously traded around $84,569. A break above this supply zone would strengthen the case for a move higher,” the analyst predicted.

Technical analyst Kevin said that a year-end pullback was inevitable, although their “plan” remains unchanged: $77,000-$83,000 keeps $93,000-$100,000 in play, while a close below $77,000 opens $67,000-$76,000

“CPI Wednesday is the catalyst. A pullback isn’t the end of anything. It’s the next opportunity for the sidelined and should result in a higher low,” Kevin added.

Read Next

Photo Courtesy: Marc Bruxelle on Shutterstock.com

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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KOSPI Drops 5% as China's CXMT Chip Advance Hits Samsung and SK Hynix

Semiconductor and storage sectors were broadly lower in U.S. pre-market trading, with SanDisk and Micron down more than 3% each, and SK Hynix ADR dropping 5%.

According to market data from BIT (bit.com), semiconductor and storage sectors are broadly lower in pre-market US trading: Seagate Technology (STX) down 3.4%; Western Digital (WDC) down 3.8%; SanDisk (SNDK) down 3.3%; Micron Technology (MU) down 3.03%; SK Hynix ADR down 5%; NVIDIA (NVDA) down 0.8%; Intel (INTC) down 0.95%; Advanced Micro Devices (AMD) down 1.84%.

16 minutes ago

A crypto whale transferred 5,170 ETH to Tornado Cash, valued at $12.82 million.

According to on-chain analyst Ai Yi (@ai_9684xtpa), a whale that accumulated 5,147 ETH at an average price of $1,886.7 between August 12 and 13 transferred 5,170 ETH (valued at $12.82 million) to Tornado Cash five hours ago. The batch of tokens has an unrealized profit of $3.056 million, and the purpose of the transfer remains unknown.

16 minutes ago

Analysis: Bitcoin long-term holders have been generating consistent profits since 2023, with their current unrealized profit buffer reaching 72%.

Crypto market analyst Axel Adler Jr says on-chain data shows the average cost basis of Bitcoin long-term holders (LTHs) stands at $48,600, with the current price roughly 72% above that level. This group has remained in profit since January 2023, with its closest approach to the cost line coming in March 2023. The LTH average cost basis has fallen 1.7% since hitting a peak of $49,500 on July 30. Since August 1, 60 out of 74 days have recorded negative weekly changes, with the largest single-week drop hitting 0.34% on August 25, and the current reading standing at -0.06%. The analyst notes this decline remains moderate; a further drop would signal accelerating selling pressure, while a return to positive territory would mean long-term holders are resuming accumulation.

16 minutes ago

Binance will adjust leverage and margin tiers for multiple USDT-margined perpetual contracts.

Binance will update the leverage and margin tiers for U.S. dollar-margined perpetual contracts including BLURUSDT, VELODROMEUSDT, MOVRUSDT, COOKIEUSDT, CVCUSDT, BICOUSDT, ARKUSDT, RAREUSDT, STXUSDT, JASMYUSDT, WIFUSDT, LSKUSDT, PTBUSDT and LYNUSDT at 14:30 (GMT+8) on October 16, 2026. The update is scheduled to be completed within one hour.

16 minutes ago

Bybit CEO Announces Plans to Launch Tokenized Stocks mStocks, Supporting 24/7 Two-Way Conversion and DEX Trading

Bybit CEO Ben Zhou announced during the "Make Your Move" global keynote speech that Bybit will partner with Mantle to launch the tokenized stock product mStocks. The product is fully backed by real assets at a 1:1 ratio, supports 24/7 round-the-clock two-way conversion, and will enable all AMM liquidity pools in the Mantle ecosystem for users to trade via decentralized exchanges.

16 minutes ago

Bybit CEO: Bybit's stock trading will subsequently support collateral, lending, and broker position transfers.

Bybit CEO Ben Zhou announced the launch of Bybit Direct Stock during his "Make Your Move" global keynote speech. Users can directly hold and trade real stocks via Bybit, gaining access to over 1,000 trading pairs and assets from the US market, as well as full ownership of the underlying stocks. Ben Zhou noted that these stock assets will be held in the Unified Trading Account (UTA). Going forward, Bybit plans to further support stocks as trading collateral and roll out a stock lending service. Additionally, the platform will facilitate broker transfers, enabling users to move stocks held at brokers such as Futu and Moomoo to their Bybit accounts for custody.

16 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

This site is protected by reCAPTCHA.

Semiconductor and storage sectors were broadly lower in U.S. pre-market trading, with SanDisk and Micron down more than 3% each, and SK Hynix ADR dropping 5%.

According to market data from BIT (bit.com), semiconductor and storage sectors are broadly lower in pre-market US trading: Seagate Technology (STX) down 3.4%; Western Digital (WDC) down 3.8%; SanDisk (SNDK) down 3.3%; Micron Technology (MU) down 3.03%; SK Hynix ADR down 5%; NVIDIA (NVDA) down 0.8%; Intel (INTC) down 0.95%; Advanced Micro Devices (AMD) down 1.84%.

11 minutes ago

A crypto whale transferred 5,170 ETH to Tornado Cash, valued at $12.82 million.

According to on-chain analyst Ai Yi (@ai_9684xtpa), a whale that accumulated 5,147 ETH at an average price of $1,886.7 between August 12 and 13 transferred 5,170 ETH (valued at $12.82 million) to Tornado Cash five hours ago. The batch of tokens has an unrealized profit of $3.056 million, and the purpose of the transfer remains unknown.

11 minutes ago

Analysis: Bitcoin long-term holders have been generating consistent profits since 2023, with their current unrealized profit buffer reaching 72%.

Crypto market analyst Axel Adler Jr says on-chain data shows the average cost basis of Bitcoin long-term holders (LTHs) stands at $48,600, with the current price roughly 72% above that level. This group has remained in profit since January 2023, with its closest approach to the cost line coming in March 2023. The LTH average cost basis has fallen 1.7% since hitting a peak of $49,500 on July 30. Since August 1, 60 out of 74 days have recorded negative weekly changes, with the largest single-week drop hitting 0.34% on August 25, and the current reading standing at -0.06%. The analyst notes this decline remains moderate; a further drop would signal accelerating selling pressure, while a return to positive territory would mean long-term holders are resuming accumulation.

11 minutes ago

Binance will adjust leverage and margin tiers for multiple USDT-margined perpetual contracts.

Binance will update the leverage and margin tiers for U.S. dollar-margined perpetual contracts including BLURUSDT, VELODROMEUSDT, MOVRUSDT, COOKIEUSDT, CVCUSDT, BICOUSDT, ARKUSDT, RAREUSDT, STXUSDT, JASMYUSDT, WIFUSDT, LSKUSDT, PTBUSDT and LYNUSDT at 14:30 (GMT+8) on October 16, 2026. The update is scheduled to be completed within one hour.

11 minutes ago

Bybit CEO Announces Plans to Launch Tokenized Stocks mStocks, Supporting 24/7 Two-Way Conversion and DEX Trading

Bybit CEO Ben Zhou announced during the "Make Your Move" global keynote speech that Bybit will partner with Mantle to launch the tokenized stock product mStocks. The product is fully backed by real assets at a 1:1 ratio, supports 24/7 round-the-clock two-way conversion, and will enable all AMM liquidity pools in the Mantle ecosystem for users to trade via decentralized exchanges.

11 minutes ago

Bybit CEO: Bybit's stock trading will subsequently support collateral, lending, and broker position transfers.

Bybit CEO Ben Zhou announced the launch of Bybit Direct Stock during his "Make Your Move" global keynote speech. Users can directly hold and trade real stocks via Bybit, gaining access to over 1,000 trading pairs and assets from the US market, as well as full ownership of the underlying stocks. Ben Zhou noted that these stock assets will be held in the Unified Trading Account (UTA). Going forward, Bybit plans to further support stocks as trading collateral and roll out a stock lending service. Additionally, the platform will facilitate broker transfers, enabling users to move stocks held at brokers such as Futu and Moomoo to their Bybit accounts for custody.

11 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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2 hours ago

According to monitoring by Onchain Lens, a Bitcoin whale deposited 138 million USDC into Binance. The whale currently holds 200 million USDC and 61.68 million USDT, with a combined value of approximately $262 million.

Source

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Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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South Korean authorities have approved measures to block domestic access to 27 websites operated by unregistered crypto exchanges and other virtual asset service providers, including KuCoin, MEXC, Phemex and Bitrue. 

In an announcement on Tuesday, South Korea’s Financial Intelligence Unit (FIU) said the decision followed reviews by the Korea Media and Communications Standards Commission on Oct. 6 and 7. 

The list also includes CoinW, BTCC, BitMart, BingX, DigiFinex and others. The block applies to crypto platforms that have not registered under the Act on Reporting and Using Specified Financial Transaction Information, the country’s anti-money laundering legislation.

“With this decision, blocking measures against illegal virtual asset operators will also apply to internet websites, following apps such as those on Apple and Google,” the FIU said, according to a translation. 

The measures involve terminating services hosted domestically or blocking access to websites operated overseas. 

The move follows earlier restrictions on mobile apps. Cointelegraph reported in April 2025 that South Korea had blocked downloads and updates for 14 unregistered crypto exchange apps on Apple’s App Store, following restrictions on 17 apps through Google Play.

The FIU said authorities assess whether overseas operators target Korean customers by looking at whether platforms offer Korean-language services, market to South Korean users or support transactions in Korean won. 

The FIU acknowledged the website blocks could complicate withdrawals for existing users. It said it plans to provide withdrawal guidance and support through the Digital Asset eXchange Alliance, or DAXA, with cooperation from the operators. 

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

South Korea has ordered domestic access restrictions on 27 unregistered cryptocurrency exchange websites, including KuCoin, MEXC and BingX, following regulatory reviews held on October 6 and 7.

Summary

South Korea has ordered access restrictions on 27 unregistered cryptocurrency websites following two regulatory reviews. KuCoin, MEXC, BingX and other overseas exchanges face website restrictions under South Korean financial regulations. Regulators have referred 44 unregistered cryptocurrency operators to investigative authorities over suspected unauthorized business activities. South Korea requires overseas cryptocurrency exchanges targeting local customers to register with financial intelligence authorities. Authorities plan further website blocks and withdrawal guidance for customers affected by the latest restrictions. The Financial Services Commission (FSC) announced on October 13 that the country’s communications review authority had approved the restrictions at the request of its Financial Intelligence Unit (FIU). The decision extends existing controls on foreign crypto exchange applications to websites operating without the required domestic registration.

The affected platforms include KuCoin, MEXC, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, BingX and BitMart. According to the FIU, the measures cover sites that remain operational despite requests to restrict access to unregistered virtual asset service providers.

South Korea crypto exchange ban extends to websites Following two rounds of deliberations, the communications review authority approved restrictions covering 27 websites identified by the FIU. Authorities will block domestic access to websites hosted overseas, while sites with domestic servers or operators will face service termination measures.

South Korea Orders Website Blocks on 27 Unregistered Overseas Crypto Exchanges, Including KuCoin, MEXC and BingX

South Korea's Financial Intelligence Unit (FIU) announced that the country's communications review authority has ordered domestic access restrictions on 27… pic.twitter.com/TWnze71oUY

— Wu Blockchain (@WuBlockchain) October 13, 2026 The latest decision follows South Korea’s restrictions on foreign crypto exchange apps introduced through Google Play and Apple’s App Store. Under the earlier measures, users could no longer install affected applications or receive updates through the platforms’ domestic app stores.

In March 2025, Google Play began restricting 17 unregistered exchange applications following requests from Korean regulators. Apple introduced similar controls in April, targeting platforms that had failed to complete local registration requirements. The government has since continued reviewing overseas operators serving Korean customers without authorization.

The FIU said authorities can now request website restrictions once unregistered business activities are identified, without waiting for completed criminal investigations or confirmed customer losses. The regulator described unregistered virtual asset operations as violations of the Specific Financial Information Act and said early restrictions were intended to prevent consumer harm.

According to the commission, the authorities reached the decision after discussions on how to limit access to operators conducting unauthorized crypto business activities. The process allows communications regulators to examine newly identified websites before approving restrictions.

Unregistered crypto exchanges face penalties and investigations South Korea requires cryptocurrency businesses serving local customers to register with the FIU and meet requirements that include Information Security Management System (ISMS) certification. Foreign operators fall under the same rules when their activities target residents of South Korea.

Regulators assess whether overseas platforms maintain Korean-language websites, promote services to Korean customers or support payments in Korean won. According to the FSC, such activities can establish that an overseas business is operating within the domestic market.

Operating without the required registration carries a possible prison sentence of up to five years or a fine of up to 50 million won. Authorities have referred 44 unregistered virtual asset operators to investigative agencies, although the commission has not stated that all those referrals have resulted in criminal charges or convictions.

The FIU has instructed registered crypto businesses to restrict virtual asset transfers involving identified unregistered operators. Licensed firms that violate applicable transaction restrictions can face administrative sanctions and fines of up to 100 million won per violation.

Credit card purchases involving unregistered virtual asset providers face separate restrictions. The government introduced those payment controls through amendments implemented in May 2024, forming part of its existing enforcement framework against unauthorized crypto transactions.

South Korean regulators have previously taken enforcement action against licensed exchanges for transactions involving unregistered overseas platforms. In April 2026, the FIU disclosed that Coinone had processed 10,113 virtual asset transfers involving 16 unregistered foreign providers, following an inspection that identified multiple compliance violations.

Regulators warn of high fees and customer asset risks The FIU has raised concerns about customer protection at unregistered cryptocurrency businesses. In its October 13 statement, the commission warned that such operators are not subject to the same domestic supervision and safeguards required of registered providers.

According to the regulator, potential risks include exposure of personal information, hacking, money laundering and customers paying for cryptocurrencies they never receive. Authorities cautioned that recovering losses from unregistered operators can be difficult when businesses fall outside established domestic protection arrangements.

A joint investigation conducted by the Digital Asset Exchange Association (DAXA) and registered operators in June 2026 found trading fees ranging from 1.5% to 10% among the businesses examined. The FIU compared those figures with an average fee of 0.16% across South Korea’s five major won-based exchanges.

The investigation found that some operators charged fees reaching approximately 62 times the domestic exchange average. The commission presented the figures as findings from the investigated businesses, not as fee data for every platform covered by the October website restrictions.

During an earlier enforcement review, the FSC reported that the joint investigation had identified 12 operators, including eight unauthorized over-the-counter trading businesses and four overseas exchanges conducting activities targeting Korean customers. The cases were referred to police for investigation.

FIU plans more website blocks and withdrawal guidance The FIU plans to monitor alternative domains that unregistered exchanges may use to continue serving Korean customers. Where authorities identify replacement websites or newly detected operators, the unit intends to request further reviews and access restrictions.

For customers holding funds on affected platforms, the regulator said it would coordinate with DAXA and relevant businesses to provide withdrawal instructions and procedural assistance. The October announcement did not establish a universal withdrawal deadline or confirm that every affected operator had agreed to assist customers.

Currently, 28 virtual asset service providers are registered with the FIU. The commission has advised customers to verify an operator’s registration status before depositing funds and to withdraw assets from businesses identified as unregistered.

The FIU warned customers to be cautious of promotions promising “high returns,” “principal guarantees,” access to “non-public information” or “global listings.” The regulator said such claims could indicate fraudulent activity and advised users against providing private keys, login credentials or identity documents to unregistered operators.

Authorities have invited reports of suspected illegal crypto businesses through the FIU, DAXA and police. The commission said referral-based promotions involving unauthorized operators could expose participants to criminal liability if their conduct amounts to assisting illegal business operations.

Semiconductor and storage sectors were broadly lower in U.S. pre-market trading, with SanDisk and Micron down more than 3% each, and SK Hynix ADR dropping 5%.

According to market data from BIT (bit.com), semiconductor and storage sectors are broadly lower in pre-market US trading: Seagate Technology (STX) down 3.4%; Western Digital (WDC) down 3.8%; SanDisk (SNDK) down 3.3%; Micron Technology (MU) down 3.03%; SK Hynix ADR down 5%; NVIDIA (NVDA) down 0.8%; Intel (INTC) down 0.95%; Advanced Micro Devices (AMD) down 1.84%.

1 minutes ago

A crypto whale transferred 5,170 ETH to Tornado Cash, valued at $12.82 million.

According to on-chain analyst Ai Yi (@ai_9684xtpa), a whale that accumulated 5,147 ETH at an average price of $1,886.7 between August 12 and 13 transferred 5,170 ETH (valued at $12.82 million) to Tornado Cash five hours ago. The batch of tokens has an unrealized profit of $3.056 million, and the purpose of the transfer remains unknown.

1 minutes ago

Analysis: Bitcoin long-term holders have been generating consistent profits since 2023, with their current unrealized profit buffer reaching 72%.

Crypto market analyst Axel Adler Jr says on-chain data shows the average cost basis of Bitcoin long-term holders (LTHs) stands at $48,600, with the current price roughly 72% above that level. This group has remained in profit since January 2023, with its closest approach to the cost line coming in March 2023. The LTH average cost basis has fallen 1.7% since hitting a peak of $49,500 on July 30. Since August 1, 60 out of 74 days have recorded negative weekly changes, with the largest single-week drop hitting 0.34% on August 25, and the current reading standing at -0.06%. The analyst notes this decline remains moderate; a further drop would signal accelerating selling pressure, while a return to positive territory would mean long-term holders are resuming accumulation.

1 minutes ago

Binance will adjust leverage and margin tiers for multiple USDT-margined perpetual contracts.

Binance will update the leverage and margin tiers for U.S. dollar-margined perpetual contracts including BLURUSDT, VELODROMEUSDT, MOVRUSDT, COOKIEUSDT, CVCUSDT, BICOUSDT, ARKUSDT, RAREUSDT, STXUSDT, JASMYUSDT, WIFUSDT, LSKUSDT, PTBUSDT and LYNUSDT at 14:30 (GMT+8) on October 16, 2026. The update is scheduled to be completed within one hour.

1 minutes ago

Bybit CEO Announces Plans to Launch Tokenized Stocks mStocks, Supporting 24/7 Two-Way Conversion and DEX Trading

Bybit CEO Ben Zhou announced during the "Make Your Move" global keynote speech that Bybit will partner with Mantle to launch the tokenized stock product mStocks. The product is fully backed by real assets at a 1:1 ratio, supports 24/7 round-the-clock two-way conversion, and will enable all AMM liquidity pools in the Mantle ecosystem for users to trade via decentralized exchanges.

1 minutes ago

Bybit CEO: Bybit's stock trading will subsequently support collateral, lending, and broker position transfers.

Bybit CEO Ben Zhou announced the launch of Bybit Direct Stock during his "Make Your Move" global keynote speech. Users can directly hold and trade real stocks via Bybit, gaining access to over 1,000 trading pairs and assets from the US market, as well as full ownership of the underlying stocks. Ben Zhou noted that these stock assets will be held in the Unified Trading Account (UTA). Going forward, Bybit plans to further support stocks as trading collateral and roll out a stock lending service. Additionally, the platform will facilitate broker transfers, enabling users to move stocks held at brokers such as Futu and Moomoo to their Bybit accounts for custody.

1 minutes ago

On Unchained, Alex Shevchenko said the rest of the stolen funds had been traded into XMR, which NEAR Intents is now working to convert after refilling its contracts from its own funds.

NEAR Intents says part of the $3.8 million exploit came back in Monero

Posted October 12, 2026 at 10:16 pm ET.

The attacker who drained about $3.8 million from NEAR Intents returned only part of it in Bitcoin, the protocol’s general manager said on Unchained. The rest came back in Monero (XMR), and the team is still working out how to convert it.

Alex Shevchenko, GM of NEAR Intents, walked through the return in an episode recorded Oct. 8. After the Oct. 1 exploit, his team tracked the stolen assets and believed the non-Bitcoin portion was still sitting on Ethereum, BNB Chain and Solana. It was not. “So everything was correctly identified on the Bitcoin blockchain,” Shevchenko said on the show, but the other assets had moved through hard-to-trace channels, and “in fact they have been traded into XMR.”

That changed what the attacker needed from NEAR Intents. One reason the attacker made contact, Shevchenko said, was to learn “what is the Monero address to return the funds.”

Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.

Funds Back, Conversion Pending
On Oct. 2, Shevchenko posted that the funds “were sent back in full” and that the team was ending its investigation, as Unchained later reported. That day, independent onchain analyst Kuncoro checked the published return addresses and found the Bitcoin one received 34.59 BTC, about 78% of the total, concluding the rest “came back through a different” route; Shevchenko replied, “You are right. It did indeed.” Asked whether NEAR Intents still held the XMR, he said “this part is in process.”

The team has already replenished its smart contracts from its own funds, Shevchenko said, so the remaining step is to “return money back to the pockets.” That means converting the XMR into USDT, and he said companies have raised questions. “They’re asking for the source of funds, and what are we gonna say the source of funds?” he said on the show. Shevchenko did not say how much of the return arrived in XMR. He added that his first time handling the coin “was exactly during the hack.”

An Invite Only the Attacker Could Open
Shevchenko also explained how the two sides got a private line. After the attacker sent an onchain message offering to cooperate and asking for a Signal contact, Shevchenko posted an encrypted message holding a Signal group invite. Only the attacker could read it, because “this encrypted message was encrypted with the public key of the attacker,” he said on the show, which left the attacker as “the only person who is able to decrypt it.”

He also repeated his call for hackers to use bug bounties instead. Since the exploit, NEAR Intents has received several submissions, and one of them was valid and will be paid, Shevchenko said.

Related Listen: How NEAR Intents Identified a Suspect and Got Its Stolen Funds Back

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

Aave V4 is experiencing rising attention as tokenized stocks stimulate growth opportunities within the decentralized lending sector. The surge in activity points to a shift in decentralized finance (DeFi), with traditional financial instruments entering onchain ecosystems and diversifying collateral options for users.

Tokenized stocks drive new DeFi momentumData from Token Terminal shows that Aave V4 has accumulated $4.9 million in Coinbase-issued tokenized stock deposits over a 17-day period. This development signals increasing interest in bridging conventional equity with blockchain-based lending platforms, potentially broadening the scope of collateral choices for DeFi participants.

Tokenized stocks provide exposure to traditional equities through blockchain tokens, enabling users to interact with assets previously unavailable in the DeFi space. Their integration with Aave V4 expands the asset base for collateralized lending and opens the door to new user segments seeking exposure to tokenized financial products.

The value of these deposits, while notable, does not represent the full extent of market activity, as borrowing demand and resulting protocol revenue depend on ongoing adoption, asset liquidity, and the lending conditions specific to tokenized stocks. The future influence of these assets will largely be shaped by their collateral eligibility and the risk management protocols established by Aave.

The introduction of tokenized stocks could significantly scale Aave’s addressable market by connecting traditional finance with decentralized lending frameworks. This link may create new collateral avenues for qualified users and broaden participation in onchain lending.

Market monitoring and the rise of meme tokensAs Aave introduces new assets and users monitor critical resistance and support levels, close tracking of investor behavior and asset timing has become increasingly important throughout the crypto market. In the meme token sector, for instance, internet-driven trends can quickly generate millions in interest. Data provided by Fomo App highlights a trade in the “Niu Lai” token, where an initial investment of $99 grew to about $370,000—demonstrating the fast-moving and volatile nature of this niche market. Platforms like Fomo App now integrate token discovery, social feeds, investor rankings, and trading notifications, serving as a resource for those following meme token activity and broader market sentiment.

Liquidity, effective risk assessment, and responsible collateral management remain fundamental for the tokenized stocks on Aave V4. Future developments in deposits and borrowing activity will help determine whether the initial momentum translates into sustained growth for both Aave and the DeFi market as a whole.

Technical outlook for AAVE priceCrypto analyst Crypto With Gopal has identified a symmetrical triangle pattern emerging on the one-hour chart, with AAVE currently trading close to $168. This technical formation reflects a period of price consolidation as traders weigh the potential for a decisive breakout or breakdown.

The $172–$176 interval stands as the nearest resistance zone for AAVE. Should the price confidently breach this range on strong trading volume, bullish momentum could target the $185 level. Sustained buying pressure above resistance would support higher price targets.

On the downside, $165 acts as a critical support zone. If AAVE falls below this threshold, the price may head toward $155, dampening the current bullish trend. Gopal emphasizes that price direction will be confirmed only by substantial volume and movement beyond these key support or resistance ranges.

At present, trends in tokenized stock deposits and technical indicators function as fundamental signals, but there is no clear evidence linking these deposits directly to AAVE price fluctuations. Traders continue to monitor both technical and onchain developments as market sentiment evolves.

A breakout above the $172–$176 resistance level could shift sentiment for AAVE toward a more bullish outlook, with upside potential beyond $185. However, a breakdown below $165 may prompt a shift toward lower price targets and heightened caution among traders.

Long-term growth for Aave depends on expanding tokenized asset adoption and rigorous management of collateral risks. As AAVE price action remains within defined ranges, analysts and market participants closely observe both fundamentals and technicals to inform their outlook.

Internet Computer [ICP] has emerged among today’s market top gainers by recording a significant 14% daily surge, leading to the current trading price of $3.46.

The bullish move came as buyers extended a recovery that began after the token broke above a descending triangle pattern that had contained its price for weeks.

For many investors, the breakout has shifted attention toward higher resistance levels at around $4.097. It is already evident in the current big players’ behavior. Whales are bagging more orders across Spot and Futures markets, while buyers dominate ICP’s derivatives positioning.

With the token trading above its key exponential moving averages (EMAs), can buyers sustain the rally and push ICP toward $4.097?

Source: TradingView Whale activity strengthens the recovery as buyers dominates Large orders are increasing across both Spot and Futures markets according to the recent Average Order Size data, suggesting that larger traders are becoming more active as ICP advances.

The network’s increasing Spot market buying could provide the missing direct demand for the token’s anticipated rally back to the $4.097 resistance zone.

Source: CryptoQuant That’s not all; the reported dominance of buyers in ICP’s Futures market adds to the positive short-term picture, although leveraged positioning can reverse quickly if momentum fades.

According to the recent Long/Short Ratio data, long positions accounted for 65% of the total open market exposure at the time of writing. This highlights the current market bias and brings the chances for a continuation rally close to certainty.

Source: Coinalyze ICP burn rate points to increased demand On the 10th of October, between 12:30 and 14:00 UTC, the network cycle-burn rate on the dashboard stepped from approximately 48 B cycles/s to about 20 B/s and has since maintained there.

At the same time, the transaction rate across the network stood at 5199 transactions per second at press time, while the Finalization Rate stood at 152 blocks per second.

Source: internetcomputers.org Is $4.097 the next resistance for ICP? The fact that ICP’s price action is still trading above its key EMAs on the daily chart gives buyers a more constructive technical setup. The next level for the network bulls to watch is the $4.097 resistance level, which could become the next major test if buyers maintain control.

A sustained move toward this resistance would keep the momentum going, while a rejection or loss of EMA support could expose ICP to renewed consolidation.

All in all, the combination of a descending triangle breakout, rising whale activity, increasing burn rate, and buyer-dominated Futures positioning favors the bulls.

Final Summary ICP surges by 14% in the last 24 hours after breaking above a descending triangle pattern that had constrained its price for weeks. The network’s rising whale activity across Spot and Futures markets points to a potential continuation rally to the $4.097 resistance.

Table of contents

SkyAI, Inc. (Nasdaq: SKYA), a Solana digital asset treasury, announced on October 12 that it will launch a cash tender offer to repurchase up to 95% of its common stock and warrants at $3.00 per share, a 65% premium to its October 9 closing price, while rejecting an unsolicited takeover bid from Forward Industries, according to the company announcement.

The offer targets up to 46.37 million common shares and 20.72 million cash pre-funded warrants, cryptocurrency pre-funded warrants and strategic advisor warrants, for a maximum aggregate purchase price of about $201 million. SkyAI expects to commence the tender on or about October 15 and run it for 10 business days, with the definitive terms set out in offer materials to be filed with the U.S. Securities and Exchange Commission.

How the Tender Is Funded
SkyAI will fund the buyback using cash on hand and proceeds from selling Solana held in its treasury. The company said it has already sold about 1 million SOL tokens, roughly half of its holdings, and retains about 1 million SOL. The offer is conditioned on Solana’s closing price staying above $100 throughout the offer period, and on at least 50% of each class of securities being validly tendered and not withdrawn.

The $3.00 purchase price represents a premium of more than 100% to the 60-day volume-weighted average price of SKYA. The board framed the tender as a way to give shareholders and warrant holders an option to exit at a premium, while continuing shareholders keep exposure to the company’s stated pivot toward an agentic AI financial platform built on stablecoin rails.

Why SkyAI Rejected Forward Industries
A special committee of independent directors unanimously recommended, and the board agreed, that Forward Industries’ latest non-binding proposal, an exchange of 0.306 shares of FWDI stock for each SkyAI share, undervalues SkyAI and is not in the best interests of its shareholders. Forward Industries, which has built what it describes as the world’s largest Solana treasury, has expanded its Solana position through a series of capital raises and at-the-market offerings.

What Happens Next
SkyAI said the tender has not yet commenced and may not proceed. If more than 95% of any class is tendered, the company expects to buy that class back on a pro-rata basis. SkyAI has also suspended its existing share repurchase program and will not buy shares outside the offer until at least 10 business days after it expires. The Schedule TO filing with the definitive terms is expected by October 15.

AUTHOR

Blockchain analyst specializing in the regulatory impact of government policies on the crypto industry. Known for his thorough research and clear, engaging writing, Emmanuel provides insightful analysis on the latest trends, market shifts, and emerging crypto innovations. His work aims to educate and inform both novice and experienced readers, offering expert perspectives on the fast-evolving world of digital assets. With a passion for staying ahead of the curve, Ogwu is a trusted voice in the cryptocurrency and blockchain space.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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The trader valued the robbery at about $800,000. Transaction records show the Solana address he identified received nearly 719,000 USDC, which later moved on.

The trader valued the robbery at about $800,000. Transaction records show the Solana address he identified received nearly 719,000 USDC, which later moved on.

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