Market Signal Briefing

TL;DR

A Coinbase-linked user burned over 140 million Shiba Inu tokens in a single transaction, marking the largest individual SHIB burn in nearly three months.
The action boosted the daily burn rate by 222%, contributing to ongoing deflationary efforts for the cryptocurrency.
Despite the scale of the burn, the SHIB price remained largely stable, reflecting the broader cryptocurrency market trends.

A Coinbase user has executed a significant move in the Shiba Inu ecosystem by burning over 140 million SHIB tokens in a single transaction on October 15. This represents the largest individual SHIB burn in almost three months and immediately increased the daily burn rate, highlighting continued efforts to reduce SHIB’s circulating supply. The move also caught the attention of investors and analysts tracking deflationary activity, sparking discussions across several crypto-focused forums about long-term SHIB tokenomics and potential future burns.

Coinbase-Linked Wallet Executes Historic Burn
According to Shibburn, the transaction came from a newly created wallet identified as 0x27d…fe606, which received its tokens from a wallet linked to Coinbase. The full 140 million SHIB were sent to a dead wallet, permanently removing them from circulation. Blockchain data shows the wallet now holds only 0.002 ETH, about $9, indicating it was used solely for this burn. Additional analysis suggests that whales and institutional participants may continue experimenting with similar deflationary actions to influence supply gradually over time.

The single burn significantly impacted SHIB’s daily deflation metrics, with total burns across nine transactions reaching 140.39 million tokens in 24 hours. This represents a 222% increase in the daily burn rate, marking one of the most impactful individual burns in recent SHIB history. Past major burns, including Vitalik Buterin’s in 2021, have contributed to the 410.75 trillion SHIB permanently removed, but single-user burns of this magnitude are rare. Analysts note that smaller daily burns combined with occasional large burns are becoming an effective strategy to manage supply.

Market Response And Supply Dynamics
Despite this massive deflationary move, SHIB’s price remained largely unchanged, trading at $0.00001049 at the time of the burn, with only a minor decline of 0.15% in the past 24 hours. Bitcoin and Ethereum also recorded modest losses, reflecting broader market trends rather than reactions to the burn.

Shiba Inu’s total circulating supply still sits around 589.25 trillion tokens, showing that even large burns have limited impact on the overall supply. This event follows ongoing deflationary initiatives, including Shibarium Layer-2 burns via Bone ShibaSwap, which have collectively destroyed billions of SHIB tokens.

The global digital assets market printed red indexes all around as Bitcoin (BTC) hovered around $111,000. This looked like the new norm after another volatile stretch in global markets.

XRP (CRYPTO: XRP) is at the center of one of the biggest institutional bets in crypto history, with 13 ETF filings awaiting SEC review just as on-chain flows flatline and charts coil for a breakout. 

Wall Street Titans Line Up With 13 XRP ETF FilingsFilings span both spot and futures products. 

WisdomTree, Grayscale, and Franklin Templeton headline the list, with combined assets under management exceeding $1.6 trillion. 

Other entrants include Bitwise, Canary Capital, CoinShares, and 21Shares, whose ETF deadlines stretch through October and November.

If approved, the funds could mark a turning point for XRP's institutional adoption, mirroring the market impact seen after spot Bitcoin (CRYPTO: BTC)  and Ethereum (CRYPTO: ETH) ETFs began trading earlier this year.

XRP Price Consolidates Within Long-Term Triangle

XRP Price Dynamics (Source: TradingView)

Technical Analysis: XRP trades near $2.4s after rebounding from a liquidity-driven dip earlier this week. 

The daily chart shows a symmetrical triangle pattern forming since April, bounded by descending resistance from the $3.8 peak and ascending support from the $1.7 base.

XRP has regained footing above the 200-day exponential moving average at $2.62 dollars but remains capped under the $2.8–2.81 zone. 

This is where the 50- and 100-day EMAs cluster with the Parabolic SAR.

A close above $2.81 could open a path toward $3 and $3.4, while a drop below $2.3 would expose the $2.00–$2.10 support region built earlier in the year.

Flat Netflows Suggest Traders Are Waiting on SEC Decision

XRP Netflows (Source: Coinglass)

According to Coinglass, exchange data shows minimal movement in recent sessions. 

Netflows totaled negative 3.2 million dollars on Thursday, down sharply from September's persistent outflows. 

Traders note that low inflows combined with tight price compression often precede sharp volatility expansions.

This stabilization phase suggests traders may be holding positions in anticipation of the SEC's ETF rulings or a decisive breakout on the charts.

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This partnership marks a major step in normalizing digital asset payments for merchants and payment service providers worldwide.

Photo: T. Schneider/ Shutterstock

Key Takeaways

ACI Worldwide has partnered with BitPay to expand digital currency payment options for merchants and payment service providers.
The integration enables both cryptocurrency and stablecoin payments for global merchants and payment service providers.

ACI Worldwide, a global payments software provider, today announced it is expanding its Payments Orchestration Platform through a partnership with BitPay, allowing merchants worldwide to accept and manage digital currencies alongside traditional payment methods.

Bitcoin acceptance has expanded among merchants in regions like France and Switzerland, with businesses including bars and optical stores integrating crypto payments through specialized gateways.

Payment companies are increasingly embracing Bitcoin amid broader cryptocurrency integration trends. Countries including the UAE and Russia have seen exchanges launch related trading services as digital asset adoption accelerates globally.

Disclaimer

Crypto for Advisors: Litecoin ExplainedLitecoin: A resilient digital asset. Explore its history, technical features, innovation, and why it endures as a key component of the crypto ecosystem. Oct 16, 2025, 3:00 p.m.

In today’s "Crypto for Advisors" newsletter, Josh Olszewicz from Canary Capital breaks down Litecoin from its history to its growth.

Then, in "Ask an Expert", Billy Luedtke of Institution, answers questions about decentralized finance and its growth.

Thank you to our sponsor of this week's newsletter, Grayscale. For financial advisors near Denver, Grayscale is hosting an exclusive event, Crypto Connect, on Thursday, October 23. Learn more.

– Sarah Morton

Litecoin: A Resilient Digital Asset for the Long TermLTC$95.11 is one of the oldest and most established cryptocurrencies still in active use. Created in October 2011 by former Google engineer Charlie Lee, Litecoin was launched as a source-code fork of Bitcoin. While Bitcoin pioneered decentralized digital money, Litecoin sought to improve on its design by offering faster settlement times, lower transaction costs, and a larger supply. For this reason, LTC$95.11 is often referred to as “the silver to bitcoin’s BTC$110,642.90 gold.”

Key Technical Features

Litecoin shares Bitcoin’s proof-of-work (PoW) foundation but differs in several critical areas. Its block time is 2.5 minutes, compared to Bitcoin’s 10 minutes, allowing for quicker transaction confirmations. The maximum supply is 84 million coins, four times larger than Bitcoin’s 21 million, which makes individual units more accessible. Instead of Bitcoin’s SHA-256 mining algorithm, Litecoin employs Scrypt, which was designed to make mining more broadly accessible before the advent of application-specific integrated circuits (ASICs).

Since its inception, Litecoin has maintained uninterrupted network uptime, a rarity in the blockchain sector. This reliability, paired with low transaction fees that average under 10 cents, has positioned litecoin as a practical medium of exchange rather than primarily a store of value.

Innovation and Adoption

Litecoin has also been an early testing ground for key blockchain innovations. In 2017, it became the first major network to activate Segregated Witness (SegWit), a scaling upgrade that optimizes block space and resolves transaction malleability. Shortly afterward, Litecoin helped pioneer the Lightning Network (LN), a second-layer protocol enabling instant, near-zero-cost payments. The first cross-chain Lightning transaction, routing LTC to BTC, took place shortly after SegWit activation.

Security has also been reinforced through a merged-mining arrangement with DOGE$0.1956 since 2014. By sharing hash power between the two Scrypt-based networks, both ecosystems benefit from stronger protection against potential 51% attacks.

Supply Dynamics and Network Health

Litecoin’s issuance schedule mirrors Bitcoin’s, with rewards halving every four years. Over 90% of the total 84 million LTC supply has already been mined, and annual inflation stands under 2%. The next halving, expected in July 2027, will reduce inflation below 1%, comparable to many traditional safe-haven assets.

On-chain activity reflects Litecoin’s steady use. Transaction counts have grown during periods of Bitcoin congestion and spikes in Dogecoin demand. Active addresses have shown resilience over time, highlighting relative utility compared with peer networks.

Hash rate, the measure of computing power securing the blockchain, has increased in recent years, supported by improved Scrypt ASIC efficiency and the incentive of combined litecoin-dogecoin mining rewards. Mining power remains concentrated among a handful of pools, but overall network security has never been higher.

Valuation Metrics

Two widely tracked crypto valuation tools, the network value to transactions (NVT) ratio and the market value to realized value (MVRV) ratio, provide context for Litecoin’s current standing. NVT, which measures market capitalization relative to on-chain activity, sits below bitcoin’s and dogecoin’s, suggesting litecoin may be more fairly valued relative to its utility. Meanwhile, MVRV, which compares market price to the average price at which coins last moved, remains below long-term bull market levels, signaling subdued speculative excess.

External sentiment indicators confirm this picture. Google Trends data for “Litecoin” has declined steadily since its 2021 peak, pointing to reduced retail enthusiasm. However, such conditions have historically aligned with undervalued entry points in previous market cycles.

Takeaways for Financial Advisors

For advisors evaluating the digital asset landscape, Litecoin represents a case study in durability. It has operated continuously for more than a decade, survived multiple market downturns, and consistently delivered on its value proposition: fast, low-cost, reliable transactions. While it does not command Bitcoin’s brand dominance or Ethereum’s smart contract ecosystem, Litecoin fills a complementary role within the broader digital asset market.

In portfolio construction, Litecoin can be considered as:

A diversification tool within a crypto allocation, offering exposure to a network distinct from Bitcoin but with a proven security model.A lower-beta play on transaction-focused cryptocurrencies, with relatively muted speculation compared to meme-driven assets like dogecoin.A long-term store of utility, benefiting from declining issuance and consistent adoption, even amid shifting market narratives.For clients exploring digital assets, Litecoin stands as one of the most tested and resilient networks in the space. Its combination of security, innovation, and practical utility underscores why it continues to endure as a key component of the crypto ecosystem.

- Josh Olszewicz, portfolio manager, Canary Capital

Ask an ExpertQ. Decentralized finance (DeFi) has experienced explosive growth, hype cycles, and is now pushing toward maturity. From your perspective, what’s the biggest gap still holding DeFi back from mainstream adoption?

A. DeFi has proven that trustless code can automate financial services at scale. But code alone isn’t enough. Even in a “trustless” system, participants constantly rely on trust: that smart contracts are secure, that oracle data is accurate, that a counterparty isn’t malicious, and that audits address the right risks. Because on-chain transactions are irreversible, failures in those trust assumptions can be catastrophic.

What DeFi lacks is a trustful interaction layer to complement trustless execution. Protocols are blind to who’s on the other side of a transaction and whether their information is credible. There’s no native way to verify identity, reputation, or track record in a structured, verifiable format. This leaves users vulnerable, prevents protocols from assessing creditworthiness, and deters institutions.

Closing this gap requires infrastructure that makes information itself verifiable and composable. At Intuition, we’re building exactly that: a trust and reputation layer for DeFiand the broader information economy.

Q. A lot of people talk about how DeFi needs better ways to handle reputation, creditworthiness, and trust. What do you see as the most promising approaches for solving those challenges?

Attestations have been part of Ethereum’s DNA from the start, the original white paper even highlighted identity as a core use case. For more than a decade, builders have experimented with attestations, or signed on-chain statements, to capture trust. Yet so far they’ve been limited to narrow flows: proving a single credential or verifying one fact at a time.

What’s missing is making attestations usable at scale in richer contexts. Instead of just asking, “does this address hold this credential?”, we should be able to analyze thousands or even millions of claims to understand an entity’s reputation. That’s the missing layer.

At Intuition, we’re building exactly that: an attestation graph that makes verifiable data portable and usable. By connecting attestations into a graph, smart contracts and AI agents can reason about history, context, and reputation, unlocking credit scores, undercollateralized lending, access control, and permissionless reputation markets.

Q. Looking ahead, what kinds of DeFi applications or innovations do you think will define the next wave of growth, and how might infrastructure like verifiable data or reputation systems play a role?

The next wave of DeFi won’t just be about moving capital faster; it will be about moving trust faster. Smart contracts gave us trustless execution, but the missing piece is verifiable context about who and what we’re dealing with.

When attestations and reputation can reliably exist on-chain, DeFi evolves beyond being purely collateral-based. Undercollateralized lending becomes possible, pool access can be gated by reputation rather than arbitrary whitelists, and governance can reward real contributions instead of idle token balances. Entire markets for reputation itself open up, where the credibility of an address or dataset can be priced, traded, or staked against outcomes.

This is also what AI agents will need as they move from executing swaps to making complex decisions under uncertainty. A verifiable trust and reputation graph provides the foundation.

- Billy Luedtke, CEO, Intuition

Keep ReadingMorgan Stanley’s 16,000 advisors cleared to offer solicited crypto investments to clients this week.JP Morgan plans to enable crypto access for clients but won’t initially offer custody.Citibank plans to launch crypto custody services in 2026.

SharpLink Gaming (SBET), the second-largest Ethereum (ETH) treasury firm, has raised an additional $75.6 million, according to a recent announcement. 

The fresh capital has been secured through immediate equity issuance. The company sold new shares at $17 each, which is 12% above the current market price. 

There is also a 90-day "premium purchase contract" that makes it possible for investors to buy more shares at $17.50 (a 19% premium). This marks the first time that such call options are used within the digital asset treasury (DAT) ecosystem. 

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Investors are willing to pay a premium because they are convinced that SBET will be worth more within the next 90 days. 

BitMine's insurmountable lead Meanwhile, Tom Lee's Bitmine Technologies, which remains the biggest Ethereum treasury firm, allegedly purchased another $417 million worth of ETH, according to on-chain data. 

According to CoinGecko data, BitMine owns $12.2 billion worth of ETH, dwarfing SharpLink's $3.4 billion. 

However, investment management firm Kerrisdale Capital recently announced that it had shorted BMNR, arguing that its copycat model was on its way to "extinction."

Caliber's stock has swung sharply since adopting its Chainlink-focused treasury strategy, soaring in August before falling back under $4.

The cryptocurrency market remains in the doldrums with bearish sentiment driving major tokens, including Bitcoin (BTC) and Ethereum (ETH), into the red. The crypto market cap is down over 1% at $3.79 trillion, with selling pressure dominating market sentiment. Nearly all tokens traded deep in the red over the past 24 hours, with very few exceptions. BTC, which briefly reclaimed the $112,000 level, failed to maintain momentum, briefly plunging below $110,000 for the second time this week and dropping to a low of $109,819. However, it has recovered to reclaim $111,000 and is moving to its current level. Despite the recovery, BTC is down almost 1% over the past 24 hours, trading around $111,571. 

Meanwhile, ETH is struggling to stay above $4,000 and briefly fell below this level to a low of $3,942 before recovering. The altcoin is down nearly 2% over the past 24 hours, trading around $4,050, with sellers in control. Ripple (XRP) is down almost 2%, while Solana (SOL) is down nearly 4%, trading around $196. Dogecoin (DOGE) is down 2%, and Cardano (ADA) is down 2.30%, trading around $0.678. Chainlink (LINK) is trading around $18.39, while Stellar (XLM) is down 2.50% and Hedera (HBAR) is down over 3%, trading at around $0.181. Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered substantial declines over the past 24 hours. 

Glassnode analysts revealed that the latest market downtrend was largely due to trade tensions between the US and China. The analysts also noted that ETF inflows had weakened, indicating that institutional demand has been affected. 

Bitcoin Whale Transfers 2,000 BTC To 51 Wallets A long-dormant Bitcoin (BTC) whale has resurfaced to transfer 2,000 BTC, worth $222 million at current prices, into new wallets in what appears to be a carefully coordinated move. Blockchain data from Arkham Intelligence revealed that the coins were distributed across 51 new addresses. 50 wallet addresses received 37.576 BTC, while one wallet received 121.18 BTC. The transfers are the first significant movement of the funds in years, and originate from an address tied to Bitcoin’s early years. The structure distribution of the BTC indicates a deliberate, coordinated move rather than a spontaneous transaction. Analysts believe the whale is reorganizing or securing their holdings. However, the timing of the transfers has raised concerns as BTC struggles to regain momentum after Friday’s crash. 

Long-dormant whales from the flagship cryptocurrency’s early days generally awaken for profit-taking. BTC’s value has risen sharply since its early days, and such movements could mean the whale is preparing to offload a part of their holdings. 

Tether Settles With Celsius For $300M Tether, the entity behind the USDT stablecoin, has agreed to pay the Celsius Network Bankruptcy Estate $299.5 million to resolve claims associated with the crypto lender’s 2022 collapse. The settlement was announced on Tuesday by the Blockchain Recovery Investment Consortium (BRIC), a joint venture between VanEck and GXD Labs. The settlement concludes a years-long dispute over BTC collateral transfers and liquidations leading up to Celsius’s high-profile bankruptcy in 2022. 

Celsius has sued Tether, alleging that the stablecoin issuer improperly liquidated BTC collateral that secured loans in USDT. According to Celsius, Tether sold the collateral when the value of BTC closely matched the value of Celsius’s debt, wiping out its position and contributing to its insolvency. The settlement is only a fraction of the roughly $4 billion in claims that Celsius sought in court. The bankruptcy court approved a broader lawsuit against Tether in July 2025. However, it remains unclear how this settlement will impact those proceedings. 

Bank Of England Clarifies Plan Limiting Stablecoins Is Temporary Bank of England Deputy Governor Sarah Breeden has clarified that the central bank’s plan to restrict stablecoins is a temporary measure for financial stability. The proposed stablecoin limits were first mooted in a discussion paper as a means to ensure financial stability. However, industry groups opposed the measure, claiming it would stifle innovation and limit growth. However, Breeden clarified during a speech at the DC Fintech Week that the limits were a temporary measure and will eventually be removed. 

“So let me be clear. We would expect to remove the limits once we see that the transition no longer threatens the provision of finance to the real economy.”

Breeden also revealed that the Bank of England plans to launch a consultation paper before the end of the year, seeking feedback on the limit levels and a clear path for implementation. 

“We will be consulting in the coming weeks on the details of our proposed regime for sterling stablecoins used in systemic payment systems, and we’ll be open to feedback as we finalize our rules.”

BitMine Adds To Ethereum Treasury BitMine has added another $417 million worth of ETH to its corporate reserves. The latest purchase of 104,336 ETH takes the company’s total holdings to over 3 million ETH. The purchase was made over seven hours and distributed between three new wallets through transfers from Kraken and BitGo. BitMine now holds over 2.5% of the total ETH supply, and has accumulated 300,000 ETH over the past week alone. 

The latest acquisition is in line with the firm’s strategy of aggressive buying during market pullbacks. BitMine Chairman Tom Lee described the strategy as buying assets at a “substantial discount to the future.” The company hopes to position itself as a major force in the Ethereum ecosystem and views ETH as a crucial institutional asset. 

Bitcoin (BTC) Price Analysis Bitcoin (BTC) is marginally up during the ongoing session but struggling to regain momentum and push above $112,000. The flagship cryptocurrency started the week with a marginal increase, but fell to an intraday low of $109,945 on Tuesday as selling pressure returned. It recovered from this level to reclaim $113,000 and settle at $113,068, ultimately dropping 1.91%. Selling pressure persisted on Wednesday as BTC fell 2% to $110,804. The price fell to an intraday low of $108,500 during the ongoing session, but has recovered to reclaim $111,000 and trade around $111,606. 

Despite the selling pressure, BTC maintained its position above $110,000 thanks to strong spot demand from US-based investors. The Coinbase Premium Index, which tracks the price difference between BTC on Coinbase and other global cryptocurrency exchanges, has also remained positive despite the recent sell-off. The index surged to 0.18, its highest level since March 2024, indicating that spot bids were being filed between $100,000 and $110,000 despite market panic and uncertainty. When the Coinbase Premium Index is positive, it indicates sustained buying interest, reinforcing near-term market resistance. 

Data from CryptoQuant supports the positive narrative, highlighting rapid accumulation among short-term holders (STHs), specifically among wallets holding BTC for less than a month. STH supply jumped from 1.6 million BTC to 1.89 million BTC following the market crash, indicating aggressive dip buying. However, older BTC holders have also started moving their assets. According to the available data, around 7,343 BTC that had been dormant for two to three years were reactivated and moved on-chain. Analysts believe these long-term holders could be taking profits or repositioning their holdings. 

Crypto analyst Maartunn highlighted that Binance’s net-taker volume indicated selling pressure, while the short-term holder Spent Output Profit Ratio (STH-SOPR), an indicator that measures if recent spenders are selling at a profit or a loss, remains at 1. This suggests that STHs are still taking profits. It is this dynamic that has prevented BTC’s recovery from gaining momentum. 

BTC traded in bullish territory last week, and began the previous week with a 1.41% increase to $122,318. The price registered a marginal rise on Saturday before reaching an intraday high of $125,750 on Sunday. BTC ultimately ended the weekend at $123,520, up 0.87%. Buyers retained control on Monday as the price rose 0.97% and settled at $124,720, but not before reaching an intraday high of $126.296. BTC lost momentum on Tuesday, falling almost 3% to $121,393. The price recovered on Wednesday, rising nearly 2% and settling at $123,343. Selling pressure returned on Thursday as BTC fell 1.32% to a low of $119,713 before settling at $121,714.

Source: TradingView

BTC and the crypto market crashed on Friday after President Trump announced 100% tariffs on Chinese goods and new export controls for software. The announcement was made in retaliation for China's imposition of restrictions on rare earth mineral exports. As a result, BTC plunged to $102,000 on Binance before recovering and settling at $112,980. Selling pressure persisted on Saturday as the price fell almost 2% to $110,768. Despite the overwhelming selling pressure, markets recovered on Sunday. As a result, BTC rose nearly 4% to reclaim $115,000 and settle at $115,067. The price faced selling pressure and volatility on Monday, ultimately registering a marginal increase and settling at $115,274. Selling pressure returned on Tuesday as BTC fell to an intraday low of $109,945. It recovered from this level to reclaim $113,000 and settle at $113,068, ultimately dropping 1.91%. Sellers retained control on Wednesday as the price fell 2% to $110,804. BTC fell to an intraday low of $108,500 during the ongoing session, but has rebounded to reclaim $111,000 and is currently trading around $111,290, up 0.44%. 

Ethereum (ETH) Price Analysis Ethereum (ETH) is struggling to stay above $4,000 despite being up almost 2% during the ongoing session. The altcoin started the week in positive territory, but lost momentum on Tuesday, dropping to a low of $3,894 before reclaiming $4,000 and settling at $4,129. Selling pressure persisted on Wednesday as the price fell over 3%, slipping below $4,000 and settling at $3,988. ETH is trading around $4,050 during the ongoing session. 

ETH experienced considerable selling pressure this week, recording $124.7 million in futures liquidations, of which $77.1 million was in long liquidations. CoinGlass analysts believe ETH could decline to $3,500 if selling pressure persists. However, while ETH remains stuck around $4,000, institutional interest is quietly building. Spot Ethereum ETFs registered $170 million in net inflows on October 15. The ETFs had recorded $236 million in inflows the previous day, according to data from SoSoValue. BlackRock’s ETHA led the inflow chart with $164 million, followed by Bitwise and Fidelity. The contrast between ETH’s price action and steady ETF inflows suggests institutional investors are quietly building their positions. 

Meanwhile, BitMine’s Tom Lee remains bullish about ETH, doubling down on his prediction that the altcoin could reach $10,000 by the end of the year. Lee reasoned that his outlook about ETH is driven by a convergence of corporate and sovereign adoption, a positive US regulatory environment, and growing institutional adoption. 

“Ethereum’s basically been basing for four years now, just broke out of the range, so to me, it wouldn’t be a blow off top, but rather seeking essentially price discovery at a new level.”

ETH started the previous weekend in positive territory, registering a marginal increase on Friday. However, it fell 0.55% on Saturday and settled at $4,487. Positive sentiment returned on Sunday as the price rose 0.62% to reclaim $4,500 and settle at $4,515. Buyers retained control on Monday as ETH rose almost 4% to cross $4,600 and settle at $4,685. Despite the positive sentiment, the price fell by over 5% on Tuesday, settling at $4,451. ETH recovered on Wednesday, rising 1.68%, but was back in the red on Thursday, dropping 3.47% and settling at $4,369.

Source: TradingView

ETH plunged to an intraday low of $3,444 on Friday after President Trump announced 100% tariffs on Chinese imports and export controls on key software. It recovered from this level to settle at $3,836, ultimately dropping over 12%. Selling pressure persisted on Saturday as the fell 2.21% to $3,752. ETH recovered on Sunday, rising nearly 11% to reclaim $4,000 and settle at $4,158. Buyers retained control on Monday as the price rose over 2% and settled at $4,224. ETH plunged to an intraday low of $3,895 on Tuesday as selling pressure intensified. However, it recovered from this level to reclaim $4,000 and settle at $4,129, ultimately dropping $4,129. Sellers retained control on Wednesday as the price fell over 3%, slipping below $4,000 to $3,988. ETH is up almost 2% during the ongoing session, trading around $4,050.

Solana (SOL) Price AnalysisSolana (SOL) lost the $200 level again on Wednesday despite reaching an intraday high of $208. The altcoin started the week in bullish territory, rising nearly 6% on Monday. However, sentiment changed on Tuesday as the price fell to an intraday low of $191 before reclaiming $200 and settling at $202, ultimately dropping 2.99%. Selling pressure persisted on Wednesday as SOL fell over 4% to $193. SOL is up over 1% during the ongoing session, trading around $196.

SOL has taken a hit in recent sessions as investor sentiment turns cautious following Friday’s market crash, including a fresh wave of US tariffs on Chinese goods. However, market sentiment is gradually improving thanks to a dovish Fed, and Fed Chair Jerome Powell hinted at two rate cuts before the end of the year. However, traders are likely to be cautious as they watch how the latest trade tensions between the US and China play out. SOL is currently testing the $190 support. A break below this level could drive it towards the $170 mark. However, if bullish sentiment returns, SOL could reclaim $200 and push back towards $240.

SOL started the previous weekend in the red, dropping nearly 1% on Friday and over 2% on Saturday to settle at $227. The price recovered on Sunday, reaching an intraday high of $237 before settling at $238. Buyers retained control on Monday, rising almost 2% and settling at $232. Despite the positive sentiment, SOL returned to bearish territory on Tuesday, dropping over 5% to $220. Despite the overwhelming selling pressure, the price recovered on Wednesday, rising over 4% to $229. Selling pressure returned on Thursday as SOL fell 3.52% to $221.

Source: TradingView

Selling pressure intensified on Friday as markets tanked. As a result, SOL plunged to an intraday low of $170 before settling at $188, ultimately dropping over 14%. Sellers retained control on Saturday as the price fell almost 6% to $177. SOL made a strong recovery on Sunday, rising nearly 11% and settling at $197. The price continued pushing higher on Monday, rising almost 6% to reclaim $200 and settle at $208. Despite the positive sentiment, SOL lost momentum on Tuesday, falling to an intraday low of $191 before recovering to reclaim $200 and settle at $202. Selling pressure persisted on Wednesday as SOL fell over 4%, slipping below $200 and settling at $192. SOL is marginally down during the ongoing session, trading around $191.

Celestia (TIA) Price AnalysisCelestia (TIA) started the previous week in positive territory, rising nearly 6% and settling at $1.565. However, it retreated on Tuesday, dropping over 7% to $1.451. Price action turned positive on Wednesday as TIA rose nearly 3% and settled at $1.491. Selling pressure returned on Thursday as the price fell almost 3% to $1.449. TIA plunged to an intraday low of $0.237 on Friday as markets crashed. However, it rebounded from this level and settled at $0.926, ultimately dropping a staggering 36%.

Source: TradingView

Price action was mixed over the weekend as TIA registered a marginal drop on Saturday before recovering on Sunday, rising over 15% to reclaim $1 and settle at $1.062. Buyers retained control on Monday as the price rose over 12% to $1.189. However, selling pressure returned on Tuesday as TIA fell nearly 2% to $1.167. Sellers retained control on Wednesday with the price dropping almost 8% to $1.075. TIA is marginally down during the ongoing session, trading around $1.071.

Optimism (OP) Price AnalysisOptimism (OP) rose 5.57% on Monday (October 7) and settled at $0.756. However, selling pressure returned on Tuesday as the price fell by over 5% to $0.717. OP recovered on Wednesday, rising over 2% to $0.732, but was back in the red on Thursday, dropping 3.43% to $0.707. OP tanked to an intraday low of $0.142 on Friday as markets crashed. It recovered from this level to settle at $0.498, ultimately dropping 29%.

Source: TradingView

Price action was mixed over the weekend as OP fell almost 9% on Saturday before rising 7.58% on Sunday and settling at $0.489. Buyers retained control on Monday as the price rose 2.63% to reclaim $0.50 and settle at $0.502. Selling pressure returned on Tuesday as the price fell by over 3% to $0.485. Bearish sentiment intensified on Wednesday as OP fell almost 7% and settled at $0.453. The price is marginally up during the ongoing session, trading around $0.457.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The total market cap of the 14 U.S.-listed bitcoin miners that the bank covers rose 41% from the end of last month to a record $79 billion. Oct 16, 2025, 3:14 p.m.

The Bitcoin network hashrate declined modestly in the first two weeks of October, dropping 5 exahashes per second (EH/s) to an average of 1,030 EH/s, Wall Street bank JPMorgan (JPM) said in a report Thursday.

The pullback in the hashrate follows the successive record highs seen in August and September.

U.S.-listed miners that the bank tracks now account for around 38% of the global network.

The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty.

"HPC enthusiasm continued over the first two weeks of October, as the 14 bitcoin miners and data center operators we follow reached a combined market cap of $79 billion," analysts Reginald Smith and Charles Pearce wrote.

Miners earned around $52,500 in daily block reward revenue per EH/s, an increase of 6% from the end of September, the report said, but the hashprice, a measure of daily mining profitability, fell 7%.

The total market cap of the 14 U.S.-listed bitcoin miners that the bank covers rose 41% from the end of last month to a record $79 billion. All these companies outperformed BTC over the period.

Bitfarms (BITF) outperformed with a 129% gain, and Cango (CANG) underperformed the group with a 3% rise, the report added.

Read more: Bitcoin Miners Emerge as Key AI Infrastructure Partners Amid Power Crunch: Bernstein

More For You

Crypto Trading Volumes Fall 17.5% in September Despite Record Open Interest

Combined spot and derivatives volumes fell 17.5% in September, continuing a four-year seasonal trend

What to know:

Trading activity falls 17.5% in September slowdown: Combined spot and derivatives volumes dropped to $8.12 trillion, marking the first decline after three months of growth. September has now seen reduced trading volume for the fourth consecutive year.Open interest reaches record high despite derivatives market share decline: Total open interest surged 3.2% to $204 billion and peaked at an all-time high of $230 billion during the month.Altcoins on CME outperform as Bitcoin and Ether futures decline: While CME's total derivatives volume stayed flat at $287 billion (-0.08%), SOL futures jumped 57.1% to $13.5 billion and XRP futures rose 7.19% to $7.84 billion. BTC and ETH futures fell 4.05% and 17.9% respectively.View Full Report

More For You

Andreessen Horowitz’s a16z Invests $50M in Solana Staking Protocol Jito

Jito Foundation will use the funding to grow its validator technology, staking protocol, and developer tools on Solana.

What to know:

Jito Foundation has raised $50 million from a16z crypto through a private token sale to fund its expansion.The investment will support the development of open-source infrastructure and new products aimed at increasing efficiency on Solana.The funding follows Jito’s recent BAM launch and ETF filing, signaling a broader push into both DeFi and traditional finance.Read full story

In Brief

Tether donates $250,000 to OpenSats to fund Bitcoin and privacy tech development.

OpenSats has issued over 300 grants for open-source and censorship-resistant projects.

Tether maintains USDT peg at $1.00 with $181B market cap and $164B daily trading volume.

Tether, the world’s largest stablecoin issuer, announced a $250,000 donation to OpenSats, a nonprofit dedicated to funding open-source Bitcoin initiatives. The contribution will strengthen OpenSats’ operations and grant-making programs focused on advancing censorship-resistant and privacy-enhancing technologies.

OpenSats, a 501(c)(3) public charity, directs 100% of grant funds to developers, researchers, and educators while funding its operations separately. The organisation’s nine-member board oversees grant allocations across high-impact projects in Bitcoin protocol development, privacy tools, and education.

Since its founding, OpenSats has issued over 300 grants supporting contributors building “freedom tech” projects within the Bitcoin and open-source ecosystem. The new funding from Tether will help scale these initiatives globally and sustain long-term development support.

The initiative reflects Tether’s commitment to Bitcoin and the broader open-source community. The company continues to back public goods that promote transparency, innovation, and financial independence across decentralized ecosystems.

Tether Strengthens Commitment to Bitcoin While Maintaining Market Leadership
Tether said the donation reinforces its goal of promoting open, censorship-resistant infrastructure that supports Bitcoin’s long-term sustainability. The company’s contribution will expand resources for developers and organisations advancing privacy and decentralisation in financial technology.

Industry analysts view this move as part of a broader trend of institutional support for open-source funding models. Transparent and consistent funding is increasingly recognised as vital for sustaining innovation across decentralised networks and maintaining ecosystem stability.

Meanwhile, Tether (USDT) remains firmly pegged at $1.00, maintaining price stability within its expected trading range. With a market capitalisation of $181.46 billion, USDT continues to dominate the global stablecoin market.

The stablecoin’s 24-hour trading volume of $164.27 billion underscores its deep liquidity and active use across exchanges, DeFi, and payments. With 181.32 billion USDT in circulation, Tether remains the backbone of crypto liquidity and settlement activity worldwide.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin's (CRYPTO: BTC) ongoing correction phase is following a pattern similar to previous bull market pullbacks, according to technical analysis.

What Happened: Technical analyst Kevin noted on Patreon that Bitcoin's correction patterns tend to "rhyme" across cycles, regardless of broader macro conditions.

Drawing comparisons to prior bull markets such as 2017 and 2023, he emphasized that 30%+ drawdowns do not necessarily signal the end of a rally as long as critical support levels hold.

Historical analysis shows that BTC correction phases typically last between 114 and 174 days, based on recurring momentum indicator patterns.

Applying this framework, Kevin estimates the current correction could resolve between Nov. 19 and Dec. 23, with an extended case stretching to mid-January if the cycle runs long.

He highlighted $106,800–$97,000 as the key bull market support range, encompassing the macro 1.703 Fibonacci level, golden pocket, 50-week SMA, and 2-day 200 SMA/EMA.

Maintaining this range is crucial for preserving Bitcoin's bullish structure, a breakdown would likely confirm a deeper bearish shift.

Also Read: Bitcoin Steadies Above $110,000 As Ethereum, XRP, Dogecoin Slip On Thursday

Why It Matters: Kevin cautioned that the fate of the ongoing bull market hinges on Bitcoin holding these technical supports while macroeconomic conditions remain stable, without fresh inflationary or geopolitical shocks.

For traders, he recommends mirroring his successful Q1 playbook:

Track Bitcoin's support levels closely.
Watch USDT dominance resistance zones for early signs of market recovery.
Stay aligned with macroeconomic trends to identify turning points.
If Bitcoin holds these supports, the correction phase could mark a reset before another leg up. Failure, however, could signal the end of the current bull cycle.

Read Next:

Citi Plans 2026 Launch For Crypto Custody Service
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The move aims to unlock corporate cash reserves and enable instant global payments by merging digital asset solutions with treasury management.

Key Takeaways

Ripple acquired GTreasury for $1 billion to enter the corporate treasury management sector.
The merger aims to enable real-time global payments and unlock idle capital for corporate clients.

Ripple has announced the acquisition of GTreasury for $1 billion, a strategic move aimed at penetrating the multi-trillion dollar corporate treasury market. This acquisition integrates GTreasury’s extensive experience in treasury management with Ripple’s digital asset infrastructure capabilities.

The combined efforts will focus on unlocking idle capital, enabling real-time cross-border payments, and enhancing liquidity management for Fortune 500 companies. This acquisition, Ripple’s third major in 2025, follows their recent acquisitions of Hidden Road and Rail, reinforcing their leadership in the digital asset market.

This is a developing story.

Disclaimer

TL;DR

Ethereum onboarded 16,181 new developers in 2025, more than any other blockchain.
Solana grew its total number of developers by 83%, capturing the market’s attention.
Ethereum Core developers earn 50-60% below market rates, affecting retention.

An intense battle is being fought in the crypto ecosystem. The competition for talent is fierce. Although Ethereum remains the undisputed leader in absolute numbers, Solana has become the center of attention thanks to its breakneck pace of growth.

Electric Capital’s data makes it clear: Ethereum attracted 16,181 new developers between January and September 2025, reaffirming its position as the leading ecosystem for new talent. However, the market narrative is leaning towards Solana.

Despite Ethereum having almost double the total active developers (31,869 versus Solana’s 17,708), it was the latter network that demonstrated more impressive momentum.

Solana not only added 11,534 new developers but also increased its total base by 83% year-over-year. This notable progress highlights a perception gap: while Ethereum leads in volume, the developer growth in Ethereum and Solana shows that the latter dominates in momentum and popularity. For its part, Bitcoin ranked third with 7,494 new developers.

The Challenge of Compensation and Talent Retention
Beyond the attraction figures, the report reveals a critical problem for Ethereum: the compensation and retention of its core talent. An Ethereum core developer earns a median salary of $140,000, a figure that is between 50% and 60% below the market rate, which averages $359,000.

This disparity is so stark that almost 40% of these developers have received offers from rival networks with much higher salary packages.

This phenomenon contrasts with the general market trend, where executive compensation has soared, while salaries for mid-level and entry-level roles have decreased or remained flat.

The situation shows that developer growth in Ethereum and Solana depends not only on technology but also on the ability of ecosystems to value and retain their key contributors in an increasingly competitive environment.

Aster token price has confirmed a potential double bottom at the $1.20 region, suggesting that a bullish reversal could be underway if price breaks through key resistance levels.

Summary

Aster forms a double bottom at $1.20 aligned with 0.618 Fibonacci support.
A break above $1.83 would confirm bullish continuation.
Sustained volume inflow is key to validating the reversal setup.

Aster (ASTR) token price is showing early signs of structural recovery, as the asset has retested its $1.20 support level twice with bullish reactions. Price has formed what appears to be a textbook double-bottom pattern.

This level was previously identified as important structurally, supported by technical confluence around the 0.618 Fibonacci retracement, and it highlights a potential accumulation zone that could serve as the foundation for a rally back toward the $1.83 resistance.

Aster token price key technical points

Major Support: $1.20, confirmed by a double bottom and 0.618 Fibonacci retracement.
Major Resistance: $1.83, aligned with the value area line and previous rejection zone.
Market Structure: Bullish double bottom formation signaling a potential reversal setup.

ASTERUSDT (4H) Chart, Source: TradingView
The $1.20 level has proven to be a key structural zone for Aster. The second retest of this support resulted in a clear bullish reaction, reinforcing the likelihood that this level represents the base of a broader reversal pattern. This double-bottom formation becomes increasingly valid as long as the asset continues to close above the value area low with growing buy-side volume.

The next major test lies at the $1.83 resistance, a region that has repeatedly rejected price advances in prior attempts. A decisive break and close above this level, ideally supported by an expansion in bullish volume, would confirm the structural shift from accumulation to expansion. Historically, such setups have preceded impulsive moves to the upside as traders recognize the pattern’s completion.

From a Fibonacci standpoint, the confluence of the 0.618 retracement level near $1.20 adds additional technical weight to the setup. This zone not only serves as a historical support level but also represents an area where institutional bids often cluster during reversal formations.

However, for this bullish scenario to materialize, Aster needs sustained buying pressure. Current volume profiles remain muted, indicating that market participants are still cautious. Without strong inflows or a rise in bullish nodes, any rally attempt could stall before confirming a breakout.

What to expect in the coming price action
As long as Aster holds above $1.20, the probability of a reversal continues to grow. A breakout above $1.83 would validate the double-bottom pattern and open the path toward higher targets. Conversely, a failure to sustain above $1.20 could invalidate the setup and lead to a deeper retest of lower supports.

Shiba Inu's community just witnessed the largest solo burn in roughly a year from a mysterious Coinbase customer.

The crypto market is once again on high alert. A mysterious trader known as the “Trump Insider Whale,” who famously shorted Bitcoin just minutes before President Donald Trump’s tariff announcement caused a crypto market crash, is back.

This time with a massive $127 million short position against Bitcoin, just hours before President Donald Trump’s urgent announcement scheduled for 3:00 PM (ET) today. 

Many experts believe the insider might know what’s coming.

Repeat of the “Tariff Crash” PlayJust last week, the crypto market lost over $670 billion in a single day after Trump’s 100% tariffs on Chinese imports triggered panic selling across digital assets and equities. 

The event, now called the “Tariff Crash”, saw Bitcoin plunge from $122,000 to nearly $104,000 within hours, perfectly timed with a short position placed by the so-called “Trump Insider Whale.” That trade reportedly gained the trader $192 million in profits within 30 minutes.

Now, blockchain analysts report that the same wallet, tracked by on-chain platforms, gradually built a 20x leveraged position and increased its exposure to $127 million in BTC short positions overnight.

What Could Be Coming?However, the timing has sparked concern again, as President Trump is set to make an urgent announcement later today, and traders are preparing for sharp market swings.

Social media platforms are already flooded with warnings from analysts and traders predicting volatility. Many believe the insider could have access to non-public information tied to today’s announcement.

Experts say if Trump announces strict trade or financial sanctions, markets could fall fast. But if he announces crypto-friendly measures or liquidity support, a quick rebound may follow.

Will the Market Crash Again?As of now, Bitcoin price is trading around $111,200, reflecting a drop of 1%, seen in the last 24 hours. Meanwhile, funding rates across derivatives platforms like Binance and Bybit have turned negative, reflecting growing bearish sentiment.

If Trump’s speech introduces new tariffs or confirms stricter capital restrictions, Bitcoin could retest $100,000–$102,000 levels, marking another 10–12% drop. 

But if the announcement proves dovish or pro-crypto, short liquidations could trigger a relief rally toward $120,000, reversing losses quickly.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

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Chainlink has deployed its real-time Data Streams oracle natively on the ultra-fast Ethereum Layer 2 MegaETH.

Bitcoin continues to struggle after the massive liquidation event earlier this month. The market’s optimism has cooled, and BTC is consolidating near $111,000 as traders remain cautious.

Technical Analysis
By Shayan

The Daily Chart
On the daily chart, BTC is hovering just above key support around $110,000, which is the critical 200-day moving average, while the 200-day moving average is acting as a resistance above the price around $116,000.

The $110,000 area remains critical, and a decisive breakdown could send the market toward $101,000 and the lower boundary of the large descending channel. Meanwhile, the RSI around 42 signals neutral momentum, reflecting hesitation among both bulls and bears. Unless Bitcoin reclaims $116,000 with strong volume, the broader uptrend remains at risk of losing its mid-term structure.

The 4-Hour Chart
The 4-hour chart highlights a tight consolidation between $110,000 and $116,000 after the strong downward impulse. The $110,000 range continues to hold as a demand zone, but repeated tests have weakened its reliability.

Resistance sits at $116,000, as already mentioned, which capped every recovery attempt over the past few days. The RSI also remains flat near 40, indicating equilibrium on the 4-hour timeframe, but the lack of momentum suggests the market could break down if sellers regain control.

Sentiment Analysis
Futures Open Interest
Open interest across exchanges has sharply declined following the recent selloff, reflecting a clear reduction in speculative activity. Traders are avoiding aggressive positions after getting liquidated during the last move down.

This decline in leverage shows that the market is resetting, but it also signals a lack of conviction for any strong bullish continuation in the short term. Investor sentiment remains fragile, as fear is outweighing greed, and most participants are waiting for a stronger confirmation before re-entering long positions.

Solana investors sent 688,000 SOL worth $132 to exchanges this week, signaling rising sell-side pressure and profit-taking.The short-term holder Net Unrealized Profit/Loss (STH NUPL) sits in the capitulation zone, suggesting many are selling at a loss — a potential precursor to recovery.SOL trades at $192 after failing to hold above $200; reclaiming $200–$205 could spark a rebound to $213, while falling below $183 may extend losses.Solana’s price movement has remained largely stagnant over the past few days as the broader crypto market shows uncertainty. 

Despite a strong start earlier in the month, SOL has struggled to maintain upward momentum. Investor sentiment appears divided, with some holders taking profits while others brace for potential recovery.

Solana Investors Sell SharplyOver the past week, Solana investors have been turning to the selling side. On-chain data shows that more than $132 million worth of SOL has been sent to exchanges during this period. This influx reflects heightened sell-side pressure as traders move to secure gains or exit amid uncertainty.

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Even though the SOL sold is relatively less, it does show that panic selling has been evident; others are liquidating positions at minor rallies, suggesting a lack of confidence in sustained price growth. However, this selling is not strong enough to hold Solana price’s recovery back even if it caused a minor dip in price.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Solana Exchange Balance. Source; GlassnodeThe short-term holder Net Unrealized Profit/Loss (STH NUPL) indicator currently sits in the capitulation zone, signaling that most short-term holders are selling at a loss. Historically, when this occurs during a broadly positive market, it has marked the beginning of a rebound phase. This pattern has been observed multiple times in Solana’s previous cycles.

When investors stop selling at losses and begin waiting for profit-taking opportunities instead, market pressure tends to ease. This dynamic could trigger a shift toward accumulation, potentially leading to a short-term rally.

Solana STH NUPL. Source; GlassnodeSOL Price Can Bounce BackSolana’s price currently stands at $192, holding just above a key support level at the same mark. The altcoin recently dipped after failing to secure a foothold above $200, but resilience at this level remains a positive sign.

Given the current on-chain dynamics, SOL may soon reverse its recent losses. A successful breakout above $200 and $205 could pave the way toward $213, signaling renewed bullish momentum.

Solana Price Analysis. Source: TradingViewHowever, if selling continues to dominate and confidence remains weak, Solana’s price could fall to $183. Such a decline would invalidate the bullish outlook and deepen the short-term downtrend.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

A co-founder of Bitcoin infrastructure company, Babylon Labs, claims to have built a system that allows for native Bitcoin to be used as trustless collateral to borrow on the Ethereum blockchain.

In a Wednesday X post, Babylon Labs co-founder and Stanford University professor David Tse claimed Babylon built a proof-of-concept allowing for native Bitcoin (BTC) “to be used trustlessly as collateral to borrow on Ethereum for the first time.”

The comments follow Babylon’s release of a white paper in early August, outlining what it calls a Bitcoin trustless vault system. The system leverages the Bitcoin smart contract verification system BitVM3 to lock BTC in per-user vaults, where withdrawals (redemption or liquidation) are gated by cryptographic proofs of external smart contract state verified on Bitcoin.

This allows users to lock Bitcoin and bridge it to Ethereum without relying on a federated custodian or bridge. On the Ethereum side, a smart contract verifies the BTC vault via a Bitcoin light client before accounting for collateral.

An experimental version of the resulting token is already available on the onchain lending protocol Morpho. Still, it is in the testing phase, with a total liquidity in the market of $14 in USDC (USDC). Tse described VaultBTC as “an intermediate non-fungible asset that interfaces the vault with Morpho and allows depositor and liquidators to trustlessly withdraw BTC.“

A schematic of the Bitcoin vault-based lending system. Source: Babylon LabsBabylon Labs and Tse had not responded to Cointelegraph’s request for comment by publication.

How trustless is it?While the previously explained part of the system is trustless, some parts remain non-trustless. Per the white paper, Babylon’s Bitcoin vault liquidations utilize whitelisted liquidators to monitor the price and vault state, resulting in a liquidation system that is not permissioned and introduces trust assumptions.

Even with co-signing meant to curb censorship, the model still assumes enough liquidators (and sometimes large lenders) behave correctly. Even if they cannot steal Bitcoin thanks to the system’s design, this introduces a trust assumption into the system.

Bitcoin vault liquidation schematic. Source: Babylon LabsLiquidations hinge on a price oracle, so they inherit the oracle’s accuracy, timeliness, and censorship-resistance risks. If the oracle is wrong or delayed, the system makes the wrong call. Oracle providers with existing relationships with Babylon Labs, Band Protocol and Pyth Network had not responded to Cointelegraph’s request for comment by publication.

What really changes?The white paper provides a simple example: “Bob holds 1 BTC and wishes to borrow $50,000 in a stablecoin from Larry via a lending protocol on Ethereum.” This would necessitate that if Bitcoin’s price falls under $50,000, Larry can liquidate the collateral, and if Bob repays the loan on time, he recovers the BTC.

Babylon Labs explains that current systems require numerous trust assumptions. Bob can hand over the Bitcoin to Larry for safekeeping, trusting that he will return it.

Otherwise, Bob can keep the Bitcoin and promise to allow Larry to liquidate it if the price falls — but Larry would trust Bob to keep his word. Lastly, Bob could bridge Bitcoin to Ethereum as Wrapped Bitcoin (WBTC) and use it in a smart contract as collateral. Still, he would have to trust the wrapping mechanism itself.

WBTC requires trust because the Bitcoin backing it is held by a centralized custodian who must be trusted not to lose, freeze, or misuse the funds. Users depend on this custodian’s honesty and solvency rather than cryptographic guarantees. This is the primary issue addressed by Babylon’s trustless implementation.

“Trustless vaults eliminate all such trust assumptions. Bob and Larry jointly pre-sign a set of Bitcoin transactions defining conditional spending rights,” the white paper states.

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After Coinbase added BNB to its roadmap, Binance's CZ challenges Coinbase to list more BNB Chain projects, arguing for inclusivity by pointing to BNB Chain's greater network activity and value locked.

Bitcoin Jesus pays $50 million to dodge prison – but can he really live freely? Gino Matos · 10 seconds ago · 4 min read

Roger Ver’s settlement caps a decade-long saga and resets the rules for offshore holdouts.

Oct. 16, 2025 at 3:10 pm UTC

4 min read

Updated: Oct. 16, 2025 at 12:10 pm UTC

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Earlier this week, Roger Ver entered a deferred-prosecution agreement that ended his April 2024 indictment on mail fraud, tax evasion, and false-return charges.

Ver, also known as “Bitcoin Jesus,” admitted he willfully failed to report all his Bitcoin (BTC) holdings when he renounced US citizenship in 2014, paid $49.93 million in back taxes, penalties, and interest, and walked away without prison time.

The US Department of Justice (DOJ) simultaneously moved to dismiss the indictment without prejudice, leaving Ver in a three-year limbo. He must comply with the deal’s terms, and prosecutors won’t re-indict. Yet, a breach will allow them to do so.

The case began with Ver’s 2014 expatriation. Prosecutors alleged he and two US companies he controlled held roughly 130,000 BTC at the time he renounced citizenship, holdings he allegedly understated on exit-tax forms.

In 2017, Ver took possession of about 70,000 company Bitcoins and sold tens of thousands for roughly $240 million without reporting the taxable distribution.

The government calculated the tax loss at a minimum of $48 million. Spanish authorities arrested Ver in 2024 as the US sought extradition, and he fought the charges until the recent settlement closed the criminal case.

What does it mean for tax laws?Ver’s deal doesn’t rewrite tax law, but it demonstrates how firmly the existing rules still grip offshore assets.

Internal Revenue Code §877A imposes a mark-to-market exit tax on “covered expatriates,” which includes US citizens who renounce citizenship and meet income, net-worth, or compliance thresholds.

The 2025 Form 8854 instructions set the exclusion at $890,000, and failures to report carry steep penalties. Ver’s settlement precisely follows that framework. He admitted willfully omitting Bitcoin from his expatriation filings, paid what he owed, and avoided trial by meeting the government’s demands.

Immigration attorney Parviz Malakouti-Fitzgerald noted that Ver also withdrew his claim for a 2014 tax refund, potentially forfeiting a significant sum in addition to the $50 million payment.

The agreement’s three-year tolling provision means Ver remains exposed until September 2028. Any breach during that window reopens the door to prosecution.

Court filings show Ver must also refrain from publicly opposing the admissions his lawyers made on his behalf, a constraint Malakouti-Fitzgerald flagged as risky for a figure who has spent years as a vocal Bitcoin evangelist.

The settlement’s most revealing clause may be paragraph eight’s catchall, which states that Ver cannot “violate any law” during the tolling period.

Paired with the ban on contradicting his admissions, even through agents or supporters, the terms box Ver into silence and compliance. If someone he once funded speaks out or if Ver slips in an interview, the government retains leverage to revive charges.

Malakouti-Fitzgerald concluded that Ver should “live like a monk” for three years.

Cross-border enforcement tightens the netVer’s arrest in Spain stresses the far-reaching nature of US tax enforcement. Living offshore offers no sanctuary when criminal exposure stems from pre-expatriation conduct.

Extradition treaties and international cooperation turn foreign residency into a holding pattern rather than a shield. For US taxpayers still holding undeclared crypto abroad, the information-reporting net continues to tighten.

FATCA’s Form 8938 and the Foreign Bank Account Report (FBAR) already capture foreign financial assets. FinCEN has stated that it intends to amend FBAR rules to include virtual currency accounts, although this change has not yet taken effect.

Meanwhile, Treasury and the IRS finalized broker-reporting rules requiring digital asset platforms to send Form 1099-DA for sales starting Jan. 1, with broader basis reporting to follow.

The opacity that once allowed offshore crypto users to move undetected is evaporating as enforcement shifts from policy rhetoric to transactional details.

IRS Criminal Investigation has made digital assets a priority, deploying blockchain analytics to trace flows and recover taxes.

A 2024 Treasury Inspector General for Tax Administration review detailed those efforts and the push to refine them further.

Ver’s outcome aligns with the trajectory of recovering unpaid taxes, deterring noncompliance through high-profile settlements, and pursuing criminal charges when voluntary disclosure fails.

Narrowing window for holdoutsVer’s deal clarifies that renouncing citizenship, parking assets in foreign entities, or relying on offshore residence to evade US tax obligations tied to crypto won’t work.

Although the settlement doesn’t create new law, it narrows the perceived escape routes by showing the government’s willingness to arrest, extradite, and prosecute.

For individuals caught in similar positions, the IRS Streamlined Filing Compliance Procedures and the Voluntary Disclosure Practice remain formal on-ramps to resolve undeclared assets before enforcement action begins.

Ver’s case provides a cautionary tale that addresses liability while the choice is still with the investor, or face the government’s terms when it comes to an indictment.

Malakouti-Fitzgerald also raised a question that extends beyond US jurisdiction. Ver’s admission of willful failure to report may affect his St. Kitts citizenship by investment and future mobility applications, as some countries treat admission of a crime, even without conviction, as a disqualifying factor.

Ver renounced US citizenship to escape its tax reach, but the settlement’s admissions may now complicate his access to other jurisdictions.

The deferred-prosecution agreement was fully executed on Sept. 23, yet the parties filed a joint motion to continue the case nine days later, citing the need to discuss Ver’s motion to dismiss and “potential further motions.”

Only on Oct. 14 did the DOJ file its motion to dismiss without prejudice, formalizing the deal the parties had already signed weeks earlier.

The delay highlights the choreography behind these resolutions, which includes negotiations concluded in private, filings following a script, and the public record catching up only after the terms are finalized.

Ver’s settlement will likely not be the last. As broker reporting expands, blockchain analytics mature, and cross-border cooperation deepens, the window for offshore holdouts is closing.

Mentioned in this article

Latest Spain Stories Latest Bitcoin Stories Press Releases

5 minutes ago

Bitcoin retested support levels under $110,000 as data showed smaller investors buying and whales cooling their extended BTC sell-off.

98

Key points:

Bitcoin finally sees investors who are willing to “buy the dip” at prices around $110,000.

Multiple support retests continue to grab trader attention.

Bulls can still realize a bullish RSI divergence with a strong daily close.

Bitcoin (BTC) kept up pressure on key support Thursday as buyer interest showed signs of a comeback.

BTC/USD one-hour chart. Source: Cointelegraph/TradingViewBTC price brings back sub-$110,000 levelsData from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking below $110,000 on Bitstamp.

Exchange order-book liquidity on either side of the price was targeted, with both local lows and resistance at $112,300 now a key focus.

BTC liquidation heatmap. Source: CoinGlass“Time to lock in again, 4th time testing this demand area,” trader Skew wrote about the former in an X post.

BTC/USD four-hour chart. Source: Skew/XTrader and analyst Rekt Capital noted that BTC/USD had now filled an outstanding “gap” in CME Group’s Bitcoin futures market.

— Rekt Capital (@rektcapital) October 16, 2025
Addressing the relative strength index (RSI), Rekt Capital eyed an “emerging” bullish divergence with price — a potential sign of upside to come.

“Price needs to Daily Close just like this to crystallise it,” he added.

BTC/USD one-day chart with RSI data. Source: Rekt Capital/XCrypto analyst and entrepreneur Ted Pillows used market sentiment as proof that the Bitcoin price was likely establishing a local floor.

“$BTC has been consolidating after last week’s crash,” he told X followers. 

“Sentiment is at an all-time low, people are panic selling and ‘it's all over’ is on the timeline. This doesn't happen at the top, but rather at the bottom.”Bitcoin price comparison. Source: Ted Pillows/XPillows uploaded a chart comparing current BTC price action to that from the COVID-19 cross-market crash in March 2020.

As Cointelegraph reported, the Crypto Fear and Greed Index has flipped to “fear” this month, matching six-month lows.

Bitcoin dip-buyers finally emergeResearching investor trends, however, onchain analytics platform Glassnode had some good news for bulls.

Entities holding between 1 BTC and 1,000 BTC, it revealed on the day, were showing “strong accumulation.”

Even whales, who distributed large amounts of BTC to the market in recent weeks, were slowing their sales.

Glassnode said that this was “signaling renewed confidence in spite of the recent shakeout.”

Bitcoin trend accumulation by investor cohort. Source: Glassnode/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

A widely watched on-chain profile for Dogecoin is flagging a striking absence of realized cost basis between roughly $0.19 and $0.07—an “air pocket” that could amplify volatility if price migrates into the range. Posting a Glassnode UTXO Realized Price Distribution (URPD): ATH-Partitioned chart, analyst NekoZ (@NekozTek) wrote: “There’s a huge gap on DOGE between $0.19 and $0.07.”

URPD maps coins by their last on-chain transfer price, a proxy for where current holders acquired their coins. Dense clusters typically align with strong support or resistance; sparsely populated bands imply fewer cost-anchored holders who might otherwise slow a move.

In the Dogecoin snapshot shared by NekoZ, the distribution shows two dominant shelves with relatively little realized supply between them. A large cohort sits near approximately $0.0739, labeled on the chart with 28,288,647,364.767 DOGE, equating to 18.69% of the measured supply.

Higher up, another notable node appears around $0.1996, carrying 14,183,292,412.578 DOGE, or 9.37%. The expanse shaded between these anchors is marked “GAP,” visually underscoring the thin realized supply across that corridor.

Dogecoin URPD | Source: X @NekozTek
What Does That Mean For Dogecoin Price?
For traders, the structural message is straightforward but consequential. If spot price descends from the upper node into the underpopulated band, there are fewer holders with break-even incentives to absorb sell pressure, so downside can accelerate until it encounters the heavier cost basis around the lower cluster.

The logic is symmetrical on the way up: if price advances from the lower shelf into a sparsely held zone, there is less overhead supply to impede a rally until it nears the next dense pocket. URPD therefore speaks to path-dependence and market microstructure rather than direction in isolation.

The question embedded in the headline—whether a “crash” is imminent—cannot be answered by URPD alone. The distribution is not a timing tool and does not incorporate contemporaneous drivers such as order-book depth, derivatives positioning, or exogenous catalysts.

What it does show, with unusual clarity in Dogecoin’s case, is a bifurcated cost landscape: a heavy base near ~$0.07 and a sizable cluster near ~$0.20, with relatively little realized ownership in between. Should price traverse that interval, the chart implies a higher likelihood of fast travel within the gap and stickier behavior when it reconnects with one of the dense shelves.

NekoZ’s framing—“There’s a huge gap on DOGE between $0.19 and $0.07.”—captures the core risk. The Glassnode URPD snapshot quantifies it, highlighting that roughly one in five measured DOGE resides near ~$0.074 while close to one in ten sits near ~$0.20, bracketing a broad stretch of thin realized supply. For market participants, the takeaway is not a forecast, but a map: the route between those levels has fewer natural brakes.

At press time, DOGE traded at $0.198.

DOGE rejected at the 0.236 Fib, 1-day chart | Source: DOGEUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

Advanced Micro Devices Today

AMD

Advanced Micro Devices

$237.62 -0.98 (-0.41%)

As of 09:33 AM Eastern

This is a fair market value price provided by Polygon.io. Learn more.

52-Week Range$76.48▼

$240.10P/E Ratio136.67

Price Target$231.00

Advanced Micro Devices' NASDAQ: AMD stock price outlook, long tied to a forecast of GPU market-share gains, was affirmed by OpenAI and accelerated by Oracle NYSE: ORCL. Oracle plans to deploy 50,000 Advanced Micro Devices' MI450 line of AI accelerators in the third quarter of 2026.

While a drop in the bucket compared to OpenAI’s plans, Oracle will likely expand its plans, build more AMD-powered data centers, and drive demand for this business. 

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The critical takeaway is the quickness with which Oracle followed up on the OpenAI news. Because Advanced Micro Devices GPUs provide superior performance at lower cost, offer greater memory capacity, and excel for inference, AMD chips are an attractive alternative for hyperscalers.

Based on the supply-demand dynamic reported by Wedbush, it isn’t a matter of Advanced Micro Devices taking share from NVIDIA NASDAQ: NVDA so much as meeting unfilled demand.

Investors should expect the remaining hyperscalers to follow suit, amplifying AMD's revenue growth outlook with each announcement.

The figures are hard to pin down, but it is accepted that hyperscalers, including Amazon's NASDAQ: AMZN Web Services, Alphabet NASDAQ: GOOGL, and Microsoft NASDAQ: MSFT, are already using several gigawatts of power across each of their data center networks. Demand trends suggest these networks will double in size—three times over—over the coming decade, and AMD chips will be at the core of that growth. 

In this scenario, demand from the commercial hyperscale sector could more than quadruple OpenAI's revenue over the next five years, adding as much as $500 billion to the revenue outlook.

Revenue forecasts are rising in October, but the consensus expects only $355.5 billion for the 2026 to 2030 period. 

Analysts Like What They See in AMD’s Product Pipeline
The analysts’ response to the news is favorable, with them increasing the coverage, upgrading the stock, and raising their price targets in the wake of the OpenAI news. The chatter indicates that the shift to rack-scale capability is a game-changing event that will be highly accretive to the business.

The data tracked by MarketBeat shows 40 analysts rating the stock as a Moderate Buy, with the number of ratings up by 25% over the preceding 12 months and sentiment firming. Recent revisions include upgrades to Buy from Moderate Buy equivalents, putting the bias at 70% in favor of an outright Buy, and price targets that point to the $300 level. 

A move to $300 is likely as it aligns with the technical outlook. The OpenAI announcement catalyzed a 30% increase in AMD's stock price, which is likely only the first half of the move. The market for AMD stock is struggling with resistance at the prior all-time high but consolidating well above support targets, with convergent MACD and a bullish signal in the stochastic.

The stochastic is a critical factor, as it is low enough to indicate this market has ample room to move higher. 

The catalyst for this move may come with the Q3 earnings report. While the results are likely to be good, with the company outperforming the consensus for a 28% year-over-year revenue increase, the guidance will move the market.

It will likely include deal news and updates on the MI450 lineup, affirming the hypergrowth outlook. 

Cash Pile to Swell—Good News for Investors
Advanced Micro Devices Stock Forecast Today12-Month Stock Price Forecast:
$231.00
-3.19% Downside

Moderate Buy
Based on 40 Analyst Ratings

Current Price$238.60High Forecast$310.00Average Forecast$231.00Low Forecast$140.00Advanced Micro Devices Stock Forecast Details

Cash flow is a key factor affecting NVIDIA’s stock price—and will soon impact AMD’s as well. While growth is strong, cash flow remains important. NVIDIA’s increased cash flow from AI has enabled substantial investments in AI and future expansion, while also building a large cash reserve.

NVIDIA is now a net-cash business relative to its total liabilities: AMD is on the cusp of a similar event that will drive significant value for its shareholders. Although AMD’s stock trades at a premium in 2025, it continues to offer value for long-term investors.

The 55x price multiple in 2025 falls to only 10x by 2035, potentially lower due to overly cautious forecasts. This suggests that AMD’s stock price could rise by 100% to 200% within the next two to five years (probably sooner). 

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