XRP fiyatı, Bitcoin ve Ethereum‘daki toparlanmaya eşlik ederek 1,40 dolara yaklaştı ancak bu seviyeyi aşamadı. Fiyat 1,33 dolara gerilerken spot XRP ETF’lerinde 13 haftalık net giriş serisinin sona ermesi ve XRP Ledger güncellemesinin ertelenmesi gündemdeki yerini koruyor. Öte yandan Ripple, düzenleyici çerçeve ve kurumsal hizmetler tarafında yeni adımlar atıyor.
Ripple Kurumsal Alanda Büyüyor, XRPL Güncellemesi Ertelendi Ripple, SEC’in önerdiği kripto varlık düzenleme çerçevesini destekledi. Şirket, kripto sektöründe vakaya göre değişen yaptırımlar yerine açık yasal düzenlemelere ihtiyaç olduğunu savundu. Ripple ayrıca bir varlığın menkul kıymet sayılıp sayılmadığının yalnızca token üzerinden değil, yatırım sözleşmesi üzerinden değerlendirilmesi gerektiğini belirtti.
Şirketin kurumsal faaliyetleri de genişliyor. Ripple Prime, gerçek dünya varlıklarına (RWA) dayalı 7/24 sürekli işlem ürünleri sunarken Cross River Bank, Ripple’ın RLUSD stablecoin’ini bankacılık platformuna taşıma konusunda ortaklık kurdu.
Bununla birlikte XRP Ledger’ın fixCleanup3_4_0 güncellemesi ertelendi. Doğrulayıcı desteğinin gereken yüzde 80 eşiğinin altına kısa süreliğine düşmesi, 23 Ekim için beklenen aktivasyonu kasım ayına bıraktı.
Ripple ekosistemindeki bir diğer gelişme ise sınır ötesi token için resmî X hesabının açılması oldu. Hesap birkaç saat içinde yaklaşık 50 bin takipçiye ulaştı; haberin yayımlandığı sırada takipçi sayısı 150 bini aşmıştı. Ripple CEO’su Brad Garlinghouse’un yanı sıra Gemini, Uphold, Flare ve MoonPay gibi hesaplar da yeni hesabı karşıladı.
XRP ETF’lerinde 13 Haftalık Giriş Serisi Sona Erdi Spot XRP ETF’leri, 15 Ekim’de sona eren haftada 2 milyon doların altında net çıkış kaydetti. Böylece fonlarda 13 hafta boyunca devam eden net giriş serisi sona erdi. Bu gelişme, birkaç hafta önce görülen 75 milyon dolarlık net girişle belirgin bir tezat oluşturdu.
Yeni haftanın ilk iki işlem gününde raporlanabilir net akış görülmedi. 21 Ekim’de girişlerin yeniden pozitife dönmesi olumlu bir işaret olsa da tutar 1 milyon doların altında kaldı. Bu veriler, ETF talebinin önceki döneme kıyasla zayıfladığına işaret ediyor.
XRP Fiyatında 1,33 Dolar Kritik Eşik Bitcoin 82.000 dolar, Ethereum ise 2.406 dolar seviyesindeyken XRP 1,40 dolara yaklaşmasına rağmen bu direnci aşamadı.
Santiment’in 365 günlük piyasa değeri-gerçekleşen değer (MVRV) verisi XRP için yaklaşık 0,92 seviyesinde. Bu oran, son bir yılda alım yapan ortalama yatırımcının zararda olduğuna işaret ediyor. Geçmişte bu tür seviyeler daha elverişli alım bölgeleriyle ilişkilendirilse de gösterge tek başına fiyatın toparlanacağını garanti etmiyor.
Borsa verileri ise temkinli bir görünüm sunuyor. Binance’teki küçük ölçekli XRP çekimlerinin toplam içindeki payı Ekim 2024’ten bu yana en yüksek seviyeye çıkarken büyük yatırımcı işlemlerinin göreli payı geriledi. Binance, Upbit ve Bithumb’daki toplam XRP rezervlerinin değeri de yaklaşık 120 milyon dolar arttı.
Teknik görünümde 1,33 dolar yakından izleniyor. Analist ChartNerd’e göre XRP’nin 20 haftalık üssel hareketli ortalamanın (EMA) altında haftalık kapanışlar yapmayı sürdürmesi, 1 dolar seviyesinin yeniden test edilmesi riskini artırabilir. Buna karşılık 1,33 doların yeniden kazanılması, 1,50–1,55 dolar aralığına ve daha olumlu bir senaryoda 2 dolara doğru hareketin önünü açabilir.
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.
The Bitcoin price has erased its two-day gains after a rejection near $85,000. Bitcoin (BTC) slid about 4% to an intraday low of $81,652 on Bybit.
On-chain data and price charts now point to $80,000 as the next key test. Absent buyers and fading momentum could make that level decisive.
Bitcoin Treasuries Sit Near Breakeven but Stopped BuyingCorporate Bitcoin treasuries hold BTC at an average cost basis of about $80,000, according to Glassnode. The price has closed above that level since September 18.
However, treasury buying has not returned. Monthly net purchases have shrunk to a few thousand BTC, far below the 2025 peaks.
Glassnode notes that buying in profit can feed on itself. Purchases lift the price, which lifts their shares and funds more purchases. That loop has not restarted.
BTC treasury companies are in profit but barely buying.
They hold $BTC at a cost basis of about $80K, and price has closed above it since September 18.
In profit, buying can feed on itself: purchases lift price, price lifts their shares, and their shares fund more purchases. https://t.co/qcFvRu88Xs pic.twitter.com/jOtlUBEVWy
— glassnode (@glassnode) October 21, 2026 Meanwhile, exchange stablecoin reserves have fallen to a one-year low, draining fresh buying power from the market.
A drop below $80,000 would push treasuries back underwater. In mid-2022, a similar stretch below cost basis brought one of the only notable net sales on Glassnode’s chart.
Short-Term Holders Offer a Deeper CushionRecent buyers paint a calmer picture. The short-term holder (STH) realized price stood at $74,850 on October 21, per Glassnode.
This metric tracks the average cost basis of recently acquired coins. With BTC near $82,000, these holders remain about 9% in profit.
Bitcoin price vs. short-term holder realized price / Source: GlassnodeHistorically, this line capped the price through most of 2026. BTC was rejected there in May and sank below $60,000 by early July.
Bitcoin reclaimed the level in late August. Holding above it keeps the recovery structure intact.
Bitcoin Price Must Hold $81,500 to Avoid an $80,000 TestAnalyst Ted Pillows noted that the weekly candle turned red after BTC failed to hold $84,500. Still, he said buyers have not lost control, as Bitcoin holds above its 50-day averages.
$BTC weekly candle has turned red.
Bitcoin failed to hold above $84,500 and has completely erased its last two days' gains.
The good thing is Bitcoin is still holding above the 50D SMA and 50D EMA, which means buyers haven't completely lost control. pic.twitter.com/5R0ZOGIdpk
— Ted (@TedPillows) October 22, 2026 On the daily chart, BTC is testing the 50-day moving average at $81,835. It has also slipped just below the 0.618 Fibonacci level at $82,614.
BTC daily chart / Source: TradingviewThe 4-hour chart shows five consecutive red candles after a failed breakout above $84,000. The drop returned BTC to an ascending trendline from the October 15 low.
That trendline now meets the $81,500 swing low, forming the nearest support cluster.
Momentum is weakening. The 4-hour RSI sits near 45 and is breaking a rising trendline in place since October 8.
However, volume on the decline remains lower than during the recent rally. That suggests a lack of bids rather than aggressive selling.
BTC 4-hourly chart / Source: TradingviewIf $81,500 fails, the $80,000 treasury cost basis comes into play. Below that, the 0.5 Fibonacci level sits at $77,876.
The $73,000 to $75,000 zone holds the 0.382 Fibonacci level and the STH cost basis. That confluence could offer deeper support if the correction extends.
On the upside, reclaiming $84,000 would reopen the path toward the $85,000 to $87,000 resistance zone.
Disclaimer
This Analysis reflects BeInCrypto's editorial interpretation of information and data available at publication and may become outdated. It is general and non-personalised, does not consider your circumstances, and is not investment research, financial, investment, legal or tax advice, an offer or a recommendation. Forecasts, targets, technical analysis and forward-looking statements are uncertain and may not materialise; past performance and indicators do not predict future results. References to assets, products or providers do not imply endorsement. Crypto-assets and financial products may result in total loss. Verify material information before acting.
Worldcoin [WLD] is trending down after hitting a strong resistance level at the $0.60 zone. Consequently, the price of WLD has fallen over 7% in the past 24 hours at press time, reducing its weekly gains to 14%.
The drawdown stems from aggressive selling by the WLD team and other market participants, along with generally weak trading activity.
Why is Worldcoin crashing?
The most significant selling activity came from a wallet linked to Worldcoin’s team or venture capital (VC) investors. According to Arkham data, the wallet recently sold 2.75 million WLD worth approximately $1.61 million on Binance.
Before the sale, the wallet conducted a small test transaction of around 10 WLD tokens. This followed a larger transaction roughly six days earlier, when 7.745 million WLD, valued at nearly $4 million, was sold.
Source: Arkham
As a result, the Spot Taker CVD has turned red over the past two weeks, as per data from CryptoQuant. The daily trading volume was also exceeding $408 million, hinting at why the token’s price was falling. This indicates that most participants were selling the token after buying pressure subsided on the 9th of this month.
Additionally, the network was seeing a decline in activity, as seen in the chain fees, which were at $641 at press time.
Moreover, the DEX and Perps Volume have collapsed from levels experienced at the start of this month. For instance, Perps volume has dropped from $634K to $88.3K, while DEX volume has been averaging about $500K per day.
Source: DefiLlama
Still, WLD’s move was consistent with a broader cooling in altcoin sentiment. The Altcoin Season Index dropped from 62 to 58, indicating alts were losing capital.
Is WLD headed toward the $0.46 support zone?
On the charts, the bears rejected WLD at $0.60, a zone that capped the altcoin’s uptrend for the fourth time. This resulted in the altcoin entering a sideways range that has lasted for almost a month.
The Volume Delta reading reinforces this selling activity, showing that traders sold 6.85 million WLD.
The Bull Bear Power (BBP) confirmed bears were gaining strength as it flipped red. But from the market structure outlook, the mid-level at $0.53 may mitigate the downside risk.
Source: TradingView
Therefore, WLD may trade down to $0.46, where bulls have held strong against breakdowns four times. If the pressure selling increases, then WLD may lose $0.46 as support and find $0.40, which is the next demand zone.
Final Summary
Worldcoin declined by about 7% in the past 24 hours as selling pressure from the team and other market participants mounted.
WLD was rejected off the $0.60 resistance zone, and the range pattern hints it may fall to $0.46.
Worldcoin (WLD), the digital asset linked to OpenAI CEO Sam Altman’s digital identity initiative, declined by nearly 7% on October 22, partially retreating from its 21% rally earlier in the week. The move came as traders reassessed whether the recent rebound could be sustained.
Trading Volume and Market Cap FallEarly Thursday, WLD traded around $0.5455, reflecting a 6.61% drop over the previous 24 hours. The token’s trading volume sank sharply, decreasing by approximately 38.5% alongside the selloff, which many analysts consider a sign of cooling momentum after the rapid rise.
Worldcoin’s total market capitalization settled near $2.08 billion, as tracked by token data platforms. However, the cryptocurrency managed to retain modest weekly gains, suggesting that the latest correction has not fully reversed its recovery.
Recent fluctuations mirror patterns observed earlier this year. In May, WLD reached an 11-week high before slipping back despite continued attention to OpenAI-adjacent projects. Similarly, June’s rally—which included attention from Maelstrom, backed by Arthur Hayes—came to an abrupt end when Hayes closed his position, highlighting the rapid shifts that characterize AI-related token markets.
Scheduled token releases do not necessarily prompt immediate selling, since recipients may opt to retain their holdings rather than add liquidity to exchanges.
Token Supply Dynamics and Corporate HoldingsTokenomics.com reported that a scheduled vesting event on October 24 would make roughly 100.1 million WLD available, with an estimated value of $59 million based on current market prices. Of the total supply, 48.6% has been allocated for community distribution, 28.3% designated for private investors, and 23.1% set aside for insiders.
However, there is no consensus among token analytics providers regarding how these scheduled releases are classified. Such events should not automatically be viewed as significant inflows onto exchanges or direct increases to available supply.
Coinpaper’s recent analysis also emphasized that the unlocking process does not guarantee selling pressure, as many token holders may choose to keep their allocations. Meanwhile, Eightco identified a sizable WLD treasury position, offering further evidence of ongoing institutional participation in the ecosystem.
Nevertheless, these developments do not necessarily translate into immediate buying demand for WLD, even amid wider adoption of the World ID framework.
Technical Levels and Market TrendsShort-term technical analysis highlights an initial resistance zone near $0.596, with further resistance positioned around $0.624. Analysts report that a strong daily close above $0.60 could bolster the bullish outlook, possibly paving the way for a move toward the $0.62 to $0.66 range if volume increases.
On the downside, continued selling below $0.54 would likely put support at $0.50 to the test. A decisive move below this psychological level could shift sentiment even further, with attention turning to $0.45—representing additional downside risk of around 17% from current levels.
Momentum in the WLD market remains closely linked to demand for cutting-edge proof-of-personhood technologies. Still, prior research has noted that growing interest in artificial intelligence does not always equate to increased value for blockchain-based tokens.
Monitoring technical patterns and investor sentiment is increasingly important in such a volatile environment. In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data shared by Fomo App, a trade involving “Niu Lai”, which turned an initial $99 investment into approximately $370,000, stands out as a striking example. In these fast-moving markets, tracking not only prices but also the timing and token choices of investors is crucial. Fomo App integrates token discovery and trading in a single platform, complete with social feeds, investor rankings, and trade notifications. The platform enables users to follow meme token trends alongside investor activity.
A cross-chain swap usually costs a small percentage of the trade plus network gas on the chain you swap from. The exact total depends on the tokens, the chains and the route that moves your funds.
That is why two quotes for the same swap can deliver different amounts. This guide breaks down each cost, shows what KyberSwap charges, and explains what to compare before you confirm.
What Makes Up the Cost of a Cross-Chain Swap?
The cost of a cross-chain swap has four parts: source-chain gas, route provider costs, a platform fee and price impact.
A simple way to think about it: you pay the network to send the transaction, you pay a provider to deliver value on the other chain, and the market sets the final rate.
Source-chain gas: the network fee for the transaction you sign in your wallet.
Route provider costs: what the bridge, relayer or solver charges to move value between chains and complete the destination side.
Platform fee: what the interface charges for finding and executing the route.
Price impact and slippage: the gap between the quoted rate and the rate you actually get.
Not every part shows up as its own line. Many providers build their costs into the quoted output, so the amount you receive tells you more than any single fee label.
Fees: What Does KyberSwap Charge for a Cross-chain Swap?
KyberSwap applies a Platform Fee of 0.05% to 0.25% for using Cross-chain Swap. The rate depends on the route and the volatility level of the tokens.
RouteStable tokens & Same native tokenCommonExoticHigh-volatilityEVM ↔ EVM0.05%0.10%0.15%0.25%Near ↔ EVM0.1%0.2%0.2%0.2%Solana ↔ EVM0.1%0.2%0.2%0.2%BTC ↔ EVM0.25%0.25%0.25%0.25%Non-EVM ↔ Non-EVM0.25%0.25%0.25%0.25%
The lowest rate, 0.05%, applies to Stable tokens & Same native token on EVM ↔ EVM routes. The rate rises with the volatility level of the tokens. BTC ↔ EVM and Non-EVM ↔ Non-EVM routes use a flat 0.25%.
For example, a $1,000 swap between stable tokens on an EVM ↔ EVM route falls in the 0.05% tier. The Platform Fee on that swap is about $0.50.
The applicable Platform Fee is shown in the swap details section after the route is generated and before you confirm the transaction.
Protocol Fee: The Route Provider’s Charge
Some third-party providers may charge a protocol-specific fee, shown as Protocol Fee, for using their route. The Protocol Fee is separate from the Platform Fee.
If applicable, the Protocol Fee is displayed in the Swap Details when this route is selected, or within the Choose Your Route section during route comparison.
Gas: Which Chain Do You Pay Gas On?
You pay gas on the source chain, where you approve the cross-chain swap transaction in your wallet. The amount depends on that chain’s network conditions when you swap.
This makes your source chain a real cost decision. The same transaction usually costs far more gas on Ethereum mainnet than on a Layer 2 such as Arbitrum or Base. For small swaps, source-chain gas can be the largest cost in the whole trade.
Token Approval Can Add a Transaction
You might need to approve the input token first if you haven’t previously authorized the protocol to swap this token on your behalf. Token approval is a separate action and may require gas.
What Happens on the Destination Chain?
A cross-chain swap includes the swap on the source chain, bridging, and settlement on the destination chain. When the swap succeeds, the output tokens are delivered to your receiving address on the destination chain.
To move or use those tokens on the destination chain afterward, you will need that chain’s gas token.
Price Impact and Slippage: The Cost That Isn’t Listed as a Fee
Price impact and slippage can cost more than all fees combined on a large swap or a thinly traded token.
Price impact comes from liquidity. A large order moves the price in the pools that fill it, so you get a worse average rate. Slippage comes from time. Prices can move between the moment you see a quote and the moment the swap completes, and cross-chain swaps take longer than same-chain swaps.
Before you click Confirm Swap on KyberSwap, carefully review the confirmation box. It shows the token amount, destination address, minimum received, estimated processing time and platform fee.
What to Compare Before You Confirm a Cross-Chain Swap
Compare the amount you will receive on the destination chain, not the headline fee. A route with a lower fee can still deliver fewer tokens if its pricing is worse.
KyberSwap does this comparison for you by default. After you enter an amount, KyberSwap automatically fetches real-time quotes from multiple third-party cross-chain protocols and selects the option that provides the best rate among the quotes. Supported protocols include NEAR Intents, Across, Relay Protocol, deBridge, LI.FI, Mayan Finance, Bungee and Symbiosis.
To see every option, click More Options to open the Choose Your Route section. There you can compare available providers, view estimated return amounts, fees and estimated arrival times, and choose another quote you prefer.
Four Things to Check in Every Quote
Estimated return amount: the output amount after the route’s fees and pricing. This is the number to rank routes by.
Minimum received: shown in the confirmation box before you confirm. Check it alongside the estimated return amount, especially for volatile tokens.
Platform Fee and Protocol Fee: both appear before you confirm, so you can see exactly what the route charges.
Estimated processing time: some chains or protocols may take more time to complete. For a time-sensitive trade, a slightly lower quote that arrives much faster can be the better choice.
Compare Against Bridging and Swapping Separately
A cross-chain swap replaces two jobs: moving funds to another chain and swapping into the token you want. Doing them separately means paying for each step yourself.
The manual path usually includes source-chain gas for the bridge, a bridge fee, destination-chain gas for the swap and a DEX trading cost. It also requires holding the destination chain’s gas token before you can swap at all.
With Cross-chain Swap, you can swap from any token on one chain to a different token on another chain, directly through KyberSwap, with no external steps required.
FAQ
Are cross-chain swaps more expensive than same-chain swaps?
Yes. Cross-chain swaps usually cost more than same-chain swaps. Moving value between chains adds provider costs, and the longer processing time leaves more room for price movement.
Why does Cross-chain Swap have a fee when Swap on KyberSwap does not?
No platform fee is applied to Swap when you access KyberSwap.com directly. For Cross-chain Swap, KyberSwap applies a platform fee to support the continued development and maintenance of the feature.
What happens if a cross-chain swap fails?
A failed cross-chain swap on KyberSwap is automatically reverted. The input tokens are returned to your sender wallet address.
You can follow every swap’s status in the transaction history panel, from Processing to Success or Failed.
Which Cross-Chain Swaps Cost the Least?
The cheapest cross-chain swaps use Stable tokens & Same native token on an EVM ↔ EVM route, starting from a low-gas source chain. The Platform Fee is 0.05% and gas stays small, so your main decision is usually speed.
Swaps involving high-volatility tokens, BTC or other non-EVM routes fall into higher Platform Fee tiers. On these routes, price impact can matter more than fees, so compare estimated return and Minimum received across routes before you confirm.
Ready to see the numbers for your own swap? Open the Cross-chain tab on KyberSwap or visit kyberswap.com/cross-chain and compare live quotes before you sign.
Company targets expansion from approximately 9,700 to 20,000 miners, supported by self-generated power strategy targeting a 75% lower electricity rate
CONROE, TX / ACCESS Newswire / October 22, 2026 / Olenox Industries Inc. (NASDAQ:OLOX) ("Olenox" or the "Company"), an integrated energy and infrastructure company, today outlined the next planned phase of its gas-to-power-to-compute strategy: establishing lower-cost electricity, potentially relocating existing Bitcoin miners to that power supply and looking at opportunities to expand its mining fleet.
Olenox is targeting an expansion from approximately 9,700 to 20,000 miners -- more than doubling its fleet -- supported by its strategy to develop lower-cost, self-generated power. Expansion remains subject to its ability to raise substantial financing, power availability, equipment procurement and project execution.
Building on its recent acquisitions, Olenox is evaluating its Wildboy natural-gas platform in British Columbia and its Pecos-area energy platform in Texas as potential locations for self-generated power and mining deployments. If feasible, the plan would connect the Company's expanding energy platform with its established mining business, creating a path to capture more value from both.
Olenox is targeting an electricity rate of approximately $0.015 per kilowatt-hour ("kWh"), compared with approximately $0.06 per kWh under its current operating arrangements. If achieved on a comparable, all-in delivered-cost basis, the target would represent a 75% reduction in the electricity rate -- a potential operating advantage the Company intends to pursue across its existing fleet and future deployments.
"Our strategy has been to bring energy resources, power generation and computing together within Olenox. This plan outlines how we intend to put those capabilities to work," said Mike McLaren, Chairman and Chief Executive Officer of Olenox. "Our first priority is to establish lower-cost power, then potentially relocate existing miners to that power supply and look to build on that foundation to expand the fleet. That connection between our energy business and our computing operations is central to the long-term value we are working to create."
The Company's plan is structured in three phases. The first focuses on establishing access to lower-cost, self-generated electricity through Olenox's energy platforms. The Company is evaluating generation equipment, fuel supply, infrastructure requirements and site readiness to determine the most attractive deployment locations and validate the complete cost of delivering power to its mining operations.
The second phase involves possibly relocating eligible mining equipment currently operating in Texas to sites supplied by that lower-cost power. The objective is to apply the targeted power-cost advantage to Olenox's existing fleet, strengthening the operating foundation for future growth. Relocation decisions will depend on power availability, infrastructure readiness, relocation expenses and overall operating economics.
The third phase focuses on expanding the fleet toward 20,000 miners, building on the power infrastructure established in the earlier phases. The Company intends to deploy additional machines where Company-controlled energy resources can support competitive operating costs.
The Company's ability to execute on any of the three phases is contingent upon a variety of factors, including, but not limited to, raising substantial funds, determining power availability, the ability to purchase the necessary equipment, and successfully implementing each step necessary to achieve the desired result.
Generating electricity at or near the mining site, commonly referred to as "behind-the-meter" generation, could reduce exposure to certain grid-related charges and provide greater control over power supply. For Olenox, the approach would also create an additional use for its natural-gas resources, connecting energy production directly with computing demand.
The contemplated mining power capacity is not being represented as currently operational or available. In order to generate the contemplated mining power capacity, the Company needs to add and deploy enough generators to increase total capacity to 75 MW. There is no guarantee the Company will be able to achieve any or all of these prerequisites. The $0.015-per-kWh electricity rate and 20,000-machine fleet are targets, not achieved operating results. The targeted 75% reduction applies to the electricity rate and does not represent a corresponding increase in profitability. Actual economics will depend on fuel costs, generation efficiency, equipment and infrastructure investment, maintenance, relocation expenses, uptime and other operating requirements.
About Olenox Industries Inc.
Olenox Industries Inc. (NASDAQ:OLOX) is an integrated energy and infrastructure company focused on acquiring, developing and operating assets across the oil and natural gas, energy services, power generation, modular infrastructure and digital-compute sectors. Through its subsidiaries, Olenox is building a vertically integrated platform designed to connect energy resources with power-intensive infrastructure while delivering engineered and modular solutions across industrial markets.
Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend," "potential" or similar expressions generally identify forward-looking statements.
These forward-looking statements include, without limitation, statements concerning the implementation and sequencing of the Company's three-phase strategy; targeted electricity rates and potential cost reductions; the relocation of mining equipment; expansion toward a fleet of 20,000 miners; the development and availability of behind-the-meter power generation; the anticipated benefits and integration of acquired assets; the development of gas-powered digital infrastructure; and the Company's future business, operations and financial performance.
Forward-looking statements are based on current estimates, expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. These risks include, among others, volatility in Bitcoin prices and network difficulty; changes in mining economics; the availability, cost and reliability of natural gas and electrical power; generation efficiency; equipment performance and fleet utilization; infrastructure and relocation costs; permitting and construction requirements; the availability and terms of financing; the Company's ability to integrate acquired assets and execute its growth strategy; regulatory developments; the Company's ability to maintain compliance with Nasdaq listing requirements; and other risks described in the Company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.
Readers are cautioned not to place undue reliance on forward-looking statements. The information in this release is provided only as of its date, and Olenox undertakes no obligation to update any forward-looking statement except as required by law.
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.
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.
A large crypto investor made a series of significant purchases totaling $7.22 million over the past 24 hours, allocating funds across a mix of DeFi and real-world asset tokens, as well as a small allocation to a meme coin.
Key purchases and token performanceThe whale’s largest investments included 378,129 LIT valued at $1.4 million, 6.61 million ENA for $1.34 million, and 3 million ONDO totaling $1.34 million. Substantial amounts were also committed to AERO ($948,000), ETH ($591,000), QNT ($589,000), UNI ($443,000), TAO ($368,000), and PEPE ($195,000).
TokenAmount PurchasedValueCurrent Price24h Price ChangeLIT378,129$1.4 million$3.69+7%ENA6.61 million$1.34 million$0.199-2.5%ONDO3 million$1.34 million$0.435-4%AERO—$948,000$0.807-4.6%ETH—$591,000$2,428-1%Most of the allocations targeted small and mid-sized tokens rather than leading coins like Bitcoin, suggesting the investor may be seeking higher potential returns by focusing on less established assets.
Market movement since acquisitionOf the major purchases, LIT is the only token currently trading above the entry price. It recently traded at $3.69, around 7% higher in the last 24 hours. The investor bought LIT at approximately $3.70, making this position nearly at breakeven.
ENA, the token connected to stablecoin projects, is under pressure. It trades at $0.199, down 2.5% for the day. ENA experienced a sharp decline in the week leading up to October 18, falling from $0.2437 to $0.178, and although it has seen a modest rebound, it remains well below last week’s levels.
ONDO also dropped, trading at $0.435 after slipping over 4%. The change since October 17, when ONDO was around $0.449, has been relatively minor. AERO, another sizable holding, faced a 4.6% decrease to about $0.807, with the whale’s average entry near $0.82—resulting in a small loss so far.
ETH showed the steadiest movement among the tokens, with its price falling 1% to $2,428. The investor’s entry price was around $2,444, leaving the ETH trade nearly flat.
Investment rationale and outlookPurchasing during market downturns is a strategy often used by large investors, who may view the tokens as undervalued after recent declines. Many of these coins, such as ENA, have pulled back sharply from previous highs.
The selection of tokens also fits active narratives in the sector. ENA and ONDO are linked to stablecoin infrastructure and tokenized real-world assets, UNI and AERO are major trading platforms, while TAO is tied to artificial intelligence.
Mini dictionary: Tokenized real-world assets, or RWA tokens, represent ownership of physical assets (such as real estate, commodities, or bonds) on blockchains, enabling broader access, increased liquidity, and efficient transfer of these traditionally illiquid asset classes.
Nearly all of the tokens were dropping at the time of purchase, highlighting a potential “buy the dip” strategy. However, whale activity does not guarantee upward price movement as large holders can quickly reverse positions. Altcoins, especially in the small to mid-cap range, often experience more volatile price swings than major cryptocurrencies.
One wallet accumulating a basket of declining altcoins could be aiming to exploit low prices, but the risks remain high since price swings are more dramatic among smaller tokens and whales may sell rapidly if market sentiment shifts.
Market observers are watching to see if this large investor continues to build positions in these tokens and whether ENA, AERO, and ONDO can stabilize after their recent declines.
Grayscale has released a crypto asset valuation analysis, publishing two top-10 lists: token holder yield and adjusted earnings yield. The token holder yield top 10 are, in order: HYPE, LIT, CAKE, AERO, UNI, RAY, PENDLE, AAVE, JUP, CRV. The adjusted earnings yield top 10 are, in order: CAKE, LIT, HYPE, RAY, AAVE, JUP, SKY, UNI, AERO, PENDLE. Grayscale noted that many crypto assets can be valued based on cash flow. Token holder yield is calculated as the sum of staking rewards and buyback amounts minus the value of new token issuance, relative to circulating market capitalization. Adjusted earnings yield is the ratio of protocol earnings to circulating market capitalization, minus the circulating supply inflation rate, used to measure a protocol's profitability after deducting token dilution.
XRP consolidated for roughly two years before launching into a historic rally in 2017 and 2018.
Vandell Aljarrah, co-founder of Black Swan Capitalist, called attention to this history in a recent post on X. He used it to urge investors not to lose patience during prolonged market stagnation.
Aljarrah stressed that XRP’s historical price action is a reminder of how long consolidation can precede a major market expansion.
“Losing patience during market stagnation is a novice mistake,” he wrote. He recalled how XRP consolidated for approximately two years before executing a 62,000% macro expansion phase in 2017 and 2018.
XRP Historic Rally The accompanying XRP/USD weekly chart illustrates the extended trading range that preceded the rally. XRP spent roughly 742 days consolidating around the $0.004–$0.011 range before breaking out in 2017 and eventually reaching its cycle peak in January 2018.
The chart’s measurement highlights the scale of the subsequent advance, showing a 630X price gain.
XRP 1-Week Chart Showing 630% Price Surge in 2017/2018 Black Swan Capitalist Co-founder Revises XRP Rally Estimate Meanwhile, Aljarrah’s post prompted a discussion about just how much XRP gained during its historic run.
One commenter argued that the rally was closer to 64,000%, measuring the move from approximately $0.006 to XRP’s all-time high of $3.84. Aljarrah responded that the percentage depends on the starting point and exchange used to determine the price.
He argued that measuring from XRP’s 2014 cycle lows to its January 2018 peak produces a much larger gain of approximately 119,000%.
Depends where you measure it from exactly, and what exchange you're looking at. If you measure from the cycle lows of 2014 to the cycle high in Jan 2018 it was actually a 119,000% move up.
— Vandell | Black Swan Capitalist (@vandell33) October 20, 2026
Can XRP Repeat Its 2017–2018 Performance? Not everyone agreed that XRP’s previous rally offers a useful template for the current market.
One commenter argued that today’s cryptocurrency market differs considerably from the 2017–2018 cycle. He cited the influence of market makers and alleged corruption as reasons not to expect a repeat performance.
Another questioned XRP’s long-term value, arguing that its previous rise from fractions of a cent to several dollars had not translated into comparable subsequent price appreciation.
These concerns highlight doubts about whether XRP’s past price patterns can predict its future, given how much the crypto market has changed.
XRP is currently trading at $1.34, up 2.6% over the past 24 hours, according to the CoinMarketCap data provided in the report.
At this price, XRP remains approximately 65% below its previous peak of $3.84. A 62,000% increase from its current price of $1.34 would push XRP to approximately $832. Many analysts consider such a price target unrealistic in the short term, although they may view it as a possibility over several decades.
Ultimately, Aljarrah’s argument rests on the idea that patience is important during prolonged periods of limited price movement, as recovery phases may eventually follow. For context, XRP recorded a price surge of nearly 700% during the 2024–2025 market cycle.
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.
Uniswap Labs announced that Aggregator Hooks is now live, enabling Uniswap v4’s aggregation functionality. The mechanism wraps external liquidity sources into v4 pools via Hooks, allowing any routing to treat these as standard Uniswap pools. The feature is now available on Uniswap’s web interface and API, supporting Ethereum Mainnet, Base, and Robinhood Chain, with additional networks set to be added later. On launch day, seven external liquidity sources are supported, including Curve, Fluid, and PancakeSwap. Per block, routing pulls the latest quotes from integrated sources, constructs the optimal path between Uniswap pools and external sources for swaps, and settles trades in a single transaction—no additional approvals required. Uniswap noted that while most on-chain liquidity resides on its platform, new liquidity may still emerge elsewhere. After integrating external sources into v4, swaps routed through these sources will incur protocol fees, which contribute to UNI token burns.
A MiCA white paper for Sei Network's $SEI token has been filed by OKX Europe Limited, covering 30 EEA countries. It is a disclosure, not regulatory approval.
A MiCA white paper for Sei Network's $SEI token has been filed for public record in Europe by OKX (@okx) Europe Limited. The document supports the admission of SEI to trading on OKX's platform and covers 30 countries in the European Economic Area (EEA). It sets out the token's utility, risks and holder rights. The filing is a disclosure, not regulatory approval.
What the SEI white paper coversThe white paper is published by OKX Europe Limited, not by the SEI project itself. According to the document hosted by OKX, the white paper is published solely in connection with the admission to trading of SEI on the exchange's platform. It also states that no public offer of SEI tokens is being made and that the admission involves no subscription, sale or fundraising process.
The paper includes a section on risks, including those tied to the admission to trading. It names OKX Europe Limited as an authorised crypto-asset service provider (CASP) operating in the European Union. OKX says its MiCA licence from the Malta Financial Services Authority dates from 27 January 2025 and gives it access to all 30 EEA countries, which is why the SEI filing reaches the same footprint.
Why a filing is not an approvalUnder the EU's Markets in Crypto-Assets Regulation (MiCA), white papers for most crypto-assets are subject to notification rather than prior approval. Law firm CMS notes that competent authorities must not require any prior approval for crypto-asset white papers before their publication. The notified information is passed to the European Securities and Markets Authority (ESMA), which makes the white paper available in a public register.
MiCA also requires a disclaimer on the document. The SEI white paper states that it has not been approved by any competent authority in any EU Member State and that OKX Europe Limited is solely responsible for its content. ESMA has itself noted that investors should not overrate the protection MiCA provides, and has since proposed clarifying when a white paper counts as "duly notified" in its response to the European Commission's review of the rules.
For $SEI holders and traders in Europe, the filing is a transparency step tied to the token's availability on a MiCA-licensed venue. It does not amount to a regulatory endorsement of Sei Network (@SeiNetwork) or of the token.
SourcesOKX: Sei (SEI) crypto-asset white paper
CMS: EU regulation mandates crypto-asset white paper
ESMA: Response to the EC consultation on the MiCA review
Starknet StarkNet (STRK) holders have overwhelmingly backed a proposal to research transitioning from an Ethereum Layer 2 network into an independent, post-quantum Layer 1, according to an initial seven-day Snapshot poll which closed on Thursday morning.
More than 93.5% of the voting power supported the proposal, with over 2,800 wallets participating, according to StarkWare. The development company behind Starknet did not vote in the poll, leaving the decision to the community. Following the results, StarkWare and the Starknet Foundation will further research the potential transition. Still, STRK holders would have to vote again on any future proposal to actually move the network.
"We're beginning work on a whitepaper even before we start the weekend, and hope to release a draft for public scrutiny in November," StarkWare CEO Eli Ben-Sasson told The Block. "Starknet's community has chosen to lead on the biggest security challenge crypto has ever faced. AI agents are accelerating the quantum threat in ways many don't realise. The race is on."
Starknet is built on hash-based cryptography, and its accounts can adopt post-quantum signatures without changes to the protocol. Still, it inherits its security from Ethereum, so it is only as quantum-safe as the underlying blockchain, the team explained.
"Ethereum's target of 2029 to become quantum-safe is too late, and deadlines slip. Ask anyone who waited for the Merge," Ben-Sasson added. He has set a 2027 target for Starknet to become quantum-safe, although no date has been agreed for a potential transition to Layer 1.
Quantum security and Ethereum dependencies Ben-Sasson first floated the Layer 1 idea on Oct. 8, and the seven-day community poll opened on Oct. 15. The issue centers on Starknet's continued use of Ethereum for its bridge and data availability, as those parts cannot become quantum-safe independently of Ethereum, according to the proposal. StarkWare previously set out a three-phase post-quantum roadmap in June.
Regardless of the path chosen by the Starknet community, STRK will remain its native token, no new token will be introduced, and Ethereum bridges to Starknet will remain open, according to the Starknet Foundation.
StarkWare announced that the Starknet community has completed a non-binding Snapshot vote on whether to explore building Starknet into an independent, quantum-resistant Layer 1 (L1). The vote ran from October 15 to 22, open to STRK stakers and delegators, with 93.52% of the 3,236 total votes in favor. StarkWare and the Starknet Foundation have launched a working group to conduct research and draft a whitepaper and detailed proposal based on the results. The company stressed that the vote only gauges the community’s interest in becoming an L1, and any formal decision will still require subsequent governance processes. As an Ethereum Layer 2 (L2), Starknet relies on Ethereum for core functions including cross-chain bridges and data availability. These components use elliptic curve cryptography vulnerable to quantum computing, so full quantum resistance progress is constrained by Ethereum’s roughly 2029 timeline. However, controllable elements are advancing faster: STARK proofs depend on quantum-resistant hashing, and native account abstraction enables accounts to adopt quantum-resistant signatures without protocol upgrades. An independent L1 status would free Starknet from Ethereum’s migration pace. The working group’s first key deliverable is a whitepaper, expected to be released in the coming weeks, followed by a detailed proposal for further community voting. Its Quantum Hub roadmap targets full quantum security by 2027.
LayerZero [ZRO] has increased by about 10% to $1.98 in the last 24 hours, as investors and traders anticipate the November 30 launch of the Zero mainnet and ATLAS trading infrastructure.
Renewed altcoin rotation and a surge in trading volume add support, signaling stronger market participation ahead of the launch. Moreover, retail activity is surging as buyers dominate the token’s Futures market.
So, can sustained buying pressure push ZRO higher as the mainnet debut approaches?
LayerZero Mainnet launch lifts market sentiment
The upcoming November 30 launch of the Zero mainnet and ATLAS trading infrastructure has given traders a clear event to watch. The milestone appears to be supporting renewed interest in ZRO as investors position themselves ahead of the rollout.
In combination with the news impulsive buying pressure, the broader altcoin rotation has also added to the recovery. The altcoin Season Index has once again spiked to 51 as of writing, suggesting that capital is rotating to the altcoin. ZRO stands out as one of the beneficiaries.
Besides, the network trading volume is also surging, suggesting that the move is attracting more participation. Over the last 24 hours the token’s trading volume has spiked by over 50% to $282 million.
However, increased volume alone does not confirm sustained spot accumulation, and traders will need to see continued buying to support further gains.
Source: CoinGlass
Futures buyers add more weights to the rally
On the derivatives side, retail activity data highlights an increased presence of many retail orders, with buyers dominating ZRO’s Futures market. This points to stronger bullish positioning as traders anticipate the mainnet launch.
Source: CryptoQuant
According to the recent Long/Short Ratio data, long positions account for 53% of all the total leveraged positions. This points to a slight buyer dominance as the token builds momentum in the meantime.
Source: Coinalyze
Can ZRO Extend Its Gains?
ZRO’s ability to hold its recent advance will depend on whether buying pressure persists beyond the initial reaction to the launch announcement. Continued volume growth and sustained demand could support another leg higher as the 30th of November approaches.
Conversely, fading volume or a reversal in Futures positioning could weaken the rally, particularly if traders begin taking profits ahead of the event. But as it stands, the positive reaction to the 20-day EMA at $1.9 on the daily chart leaves the psychological level at $2.0 as the next target.
If the momentum still lasts, chances for a continuation rally to test the resistance level at $2.50 are more likely to come into pass.
Source: TradingView
Final Summary
ZRO records significant gains over the last 24 hours as traders react to the confirmed November 30 launch of the Zero mainnet and ATLAS trading infrastructure.
The network’s rising trading volume, renewed altcoin rotation, and Futures-market buying support the rally.
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.
Coinbase Derivatives, the regulated futures exchange operated by Coinbase, will temporarily halt trading this weekend to conduct scheduled maintenance. The interruption is set for Saturday, October 24, 2026, at 5:00 AM CT and is expected to last approximately nine hours.
Futures Trading Temporarily UnavailableCoinbase Markets announced the upcoming maintenance on its X account, specifying that trading for both futures and perpetual futures contracts will be paused during this window. While users will not be able to execute trades involving these derivatives products, account access will not be affected, allowing customers to monitor balances and other account activities without disruption.
Coinbase Markets has directed users seeking live updates to its status page, urging both traders and institutional clients to prepare for the brief outage. Industry observers view these scheduled maintenance periods as integral for infrastructure reliability and regulatory compliance.
Adjustments to Asset Offerings and ListingsCoinbase recently suspended trading for Blast (BLAST), giving users until October 26, 2026, to move their BLAST holdings in anticipation of the Blast network’s upcoming shutdown. The company has also added Axis Robotics (AXIS) to its trading platform, while Pearl (PEARL) and Stable (STABLE) were included in its asset roadmap, indicating potential near-term listings.
Further reviews resulted in Coinbase announcing the suspension of trading for Neon EVM (NEON) and Syndicate (SYND) on November 16, 2026, at 2:00 PM ET. After this date, these tokens will be delisted from Coinbase Simple and Advanced Trade, Coinbase Exchange, and Coinbase Prime. Coinbase will also suspend trading for Balancer (BAL) and Tensor (TNSR) on November 9, 2026, and for Stargate Finance (STG) and Vulcan Forged (PYR) on November 6, 2026, both at 2:00 PM ET.
Expansion of Perpetual Futures and New ListingsIn October 2026, Coinbase and Deribit introduced six new equity perpetual futures markets—CRWV, ORCL, SOXS, DELL, PLTR, and SNXX—broadening investment options for users interested in equity derivatives. Additionally, PONS and CASHCAT perpetual futures markets launched for both retail and institutional traders on Coinbase, Coinbase Advanced, and Deribit, available in select jurisdictions.
Coinbase’s ongoing commitment to diversifying its asset offerings was also underscored by adding Pons (PONS), Data (DATA), and Whuffie (WHUF) to its trading platform and app. These new listings enable users to buy, sell, convert, send, receive, or store the assets, enhancing access to a broader selection of tokens.
Coinbase’s platform update schedule and asset management policies remain active, as evidenced by its recent listing announcements and maintenance downtime designed to improve trading reliability and customer experience.
Given these technical changes and frequent listing updates, market participants have increasingly turned to platforms that aggregate information and provide real-time alerts. In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data shared by Fomo App, a trade involving “Niu Lai”—which turned an initial $99 investment into approximately $370,000—stands out as a striking example of this activity. In this market, tracking not only prices but also the timing and token choices of investors is crucial. Fomo App brings token discovery and trading together on a single platform, featuring social feeds, investor rankings, and trade notifications. Discover Fomo App to follow the world of meme tokens alongside investor activity.
According to TradingBeats' monitoring, as international oil prices rebound, a Hyperliquid whale topping both WTI and Brent crude long positions has turned a nearly $50 million position from loss to profit, with an intraday unrealized profit improvement of around $1.27 million. The whale holds combined long positions of the two oils totaling approximately $49.97 million, with an unrealized profit of about $309,200. Around midnight today, the two positions had a combined unrealized loss of roughly $958,900; as oil prices recovered, the unrealized profit improved by around $1.2682 million. Breakdown of the long positions: WTI long positions amount to approximately $29.89 million at an average price of $98.9, generating an unrealized profit of about $145,400; Brent crude long positions stand at roughly $20.07 million at an average price of $106.6, yielding an unrealized profit of around $163,800. The account’s current equity is approximately $17.11 million, with a nominal contract exposure of roughly $49.97 million and an actual leverage ratio of about 2.92x.
Relevant content
Spot gold's intraday decline widened to 2%, currently trading at $4,057.67 per ounce.
According to Bitget market data, spot gold’s intraday decline has widened to 2%, currently trading at $4,057.67 per ounce. On the news front, U.S. private fusion startup Marathon Fusion announced in a post early this morning that it has successfully achieved high-efficiency alchemy: converting mercury into genuine, stable gold. According to its video presentation, Marathon Fusion uses beam-driven fusion technology to convert mercury-198 into mercury-197, which decays into stable gold-197 after approximately 64 hours; the process also breeds tritium and generates electricity. Laboratory simulations show that each GWth can produce over 2 tons of gold annually, potentially doubling the economic value of power plants. Market analysts noted that the technology is still in the small-scale laboratory demonstration phase, with output far from commercial levels, so it has almost no material impact on gold in the short term. However, if the technology matures and is commercialized in the future, it theoretically has the potential to upend gold’s fundamentals.
US fintech company SoFi Technologies has announced the launch of SoFi Earn, a product coded SOFIE, an interest-bearing tokenized deposit with an annual percentage yield (APY) of 4.4%, which is insured by the U.S. Federal Deposit Insurance Corporation (FDIC) within applicable limits. SoFi noted that this marks the first time a U.S. national bank has directly offered tokenized deposits to individual customers. Each SOFIE token is pegged to $1 in deposits at SoFi Bank; members can exchange it 1:1 via SoFi Crypto for the stablecoin SoFiUSD, which can be used to purchase cryptocurrencies or transferred to supported external wallets around the clock. The deposits accrue interest until redemption, while SoFiUSD, like other stablecoins, is not an FDIC-insured deposit. SoFi expects to complete the full rollout to its crypto members in November. The firm launched consumer-facing crypto trading in November 2025, followed by the rollout of SoFiUSD, and integrated it into its consumer app in May this year. SoFi Crypto currently supports trading of over 40 crypto assets. CEO Anthony Noto stated that the goal is to let funds generate returns before being deployed, combining the returns and protection of bank deposits with the speed and utility of digital assets.
1 seconds ago
StarkWare: Post-quantum Layer 1 research whitepaper for Starknet to be released in a matter of weeks.
StarkWare announced that the Starknet community has completed a non-binding Snapshot vote on whether to explore building Starknet into an independent, quantum-resistant Layer 1 (L1). The vote ran from October 15 to 22, open to STRK stakers and delegators, with 93.52% of the 3,236 total votes in favor. StarkWare and the Starknet Foundation have launched a working group to conduct research and draft a whitepaper and detailed proposal based on the results. The company stressed that the vote only gauges the community’s interest in becoming an L1, and any formal decision will still require subsequent governance processes. As an Ethereum Layer 2 (L2), Starknet relies on Ethereum for core functions including cross-chain bridges and data availability. These components use elliptic curve cryptography vulnerable to quantum computing, so full quantum resistance progress is constrained by Ethereum’s roughly 2029 timeline. However, controllable elements are advancing faster: STARK proofs depend on quantum-resistant hashing, and native account abstraction enables accounts to adopt quantum-resistant signatures without protocol upgrades. An independent L1 status would free Starknet from Ethereum’s migration pace. The working group’s first key deliverable is a whitepaper, expected to be released in the coming weeks, followed by a detailed proposal for further community voting. Its Quantum Hub roadmap targets full quantum security by 2027.
1 seconds ago
Dune launches a real-time on-chain transaction data source, covering over 200 use cases and 12 blockchains.
Crypto analytics firm Dune has launched real-time market data feeds for on-chain trading venues. The spot data feed delivers transaction data roughly one second after a trade is executed, covering over 200 on-chain venues across 12 networks including Solana, Ethereum, Base, BNB Chain, and X Layer. The perpetual futures data feed will track trades on Hyperliquid and Lighter. Fredrik Haga, co-founder and CEO of Dune, noted that on-chain trading now accounts for approximately 25% of crypto spot trading volume, and the U.S. Securities and Exchange Commission (SEC) is also paving the way for assets such as stocks to move toward on-chain trading venues.
1 seconds ago
Coinbase: UK’s proposed crypto rules could effectively bar licensed institutions from accessing DeFi
Coinbase’s Head of European Policy Katie Harries wrote in an op-ed that the UK Financial Conduct Authority (FCA)’s proposed crypto rules require regulated platforms to execute client orders exclusively at FCA-authorized venues. While the rules are intended to prevent overseas firms from illegally entering the UK market, they risk cutting off access to decentralized finance (DeFi), as decentralized protocols and trading venues often lack an eligible entity to apply for authorization. The rules do not explicitly ban DeFi integration, but they clearly do not treat such products under a dedicated regulatory regime, instead imposing the same requirements as fully centralized exchanges—an effect that amounts to a de facto ban. If the FCA does not revise its approach by October 2027, licensed platforms will be unable to offer DeFi services to their customers. Harries pointed out that the European Securities and Markets Authority (ESMA) has proposed allowing regulated institutions to access DeFi, and the U.S. Securities and Exchange Commission (SEC) granted an innovation exemption in September for peer-to-peer trading, automated trading systems, and liquidity pools related to tokenized stocks. The UK, U.S., and EU should explore collaboration between traditional financial and DeFi infrastructure rather than shutting down DeFi entirely, Harries added.
1 seconds ago
Ethereum research draft proposes cutting transaction finality to around 4 minutes to reduce cross-chain transfer costs.
Ethereum finality research coordinator Ben Edgington and multiple researchers have submitted a draft proposal, aiming to cut transaction finality wait time from around 16 minutes to roughly 4 minutes — a roughly fourfold reduction. The current goal is to advance the draft into the formal upgrade proposal pipeline. The core idea of the draft is to split validators’ original combined mechanism of “block selection” and “finality determination”, allowing finality to progress at a faster pace and facilitating future adoption of post-quantum signatures. Faster finality is expected to lower costs for cross-chain transfer services tied to capital lockup. An Ethereum Foundation study example notes: If a service advances roughly $1 million per hour, under a 16-minute delay, around $267,000 remains unrecovered; shortening the delay to 4 minutes cuts that figure to approximately $67,000.
Over $210 million in leveraged long positions were liquidated in the cryptocurrency market as Bitcoin (BTC) and Ethereum (ETH) experienced significant price declines. The liquidation occurred as BTC prices dropped towards $81,000 and ETH approached $2,300, suggesting a sharp deleveraging in the market. This event indicates a possible shift in market sentiment as participants react to the downturn in major cryptocurrencies.
In the context of the Hyperliquid price prediction market, these developments could influence the perception of Hyperliquid’s potential to reach the $100 benchmark by the end of 2026. The current market odds for Hyperliquid reaching $100 have seen a decrease, with the December 31 sub-market now priced at 38.5% YES, down from 44% the previous day. The liquidation event and the subsequent decline in market odds suggest a potential reevaluation of Hyperliquid’s price trajectory among market participants.
Key Takeaways
Liquidation of over $210 million in crypto longs suggests a market shift in sentiment.
Market odds for Hyperliquid reaching $100 by December 31, 2026, have decreased to 38.5% YES.
The recent downturn in BTC and ETH prices appears consistent with a more cautious outlook for cryptocurrency derivatives.
What to Watch
Market participants will be closely monitoring further price movements in BTC and ETH, as sustained declines could further impact market sentiment. Additionally, any significant developments or announcements related to Hyperliquid, such as new partnerships or technological advancements, could influence market odds. Observers should also watch for broader macroeconomic factors that might affect the cryptocurrency markets, which could subsequently impact the Hyperliquid price predictions.
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.
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.
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.
In brief Prosecutors in Tianjin have applied to confiscate 61,896 BTC and other assets linked to Zhimin Qian, and a local court has accepted the case. Qian allegedly raised more than 40 billion yuan from the public between 2014 and 2017, leaving more than 102,000 investors with losses. The assets are held in the UK, where the High Court ruled this month that Chinese law should govern victims' claims to the Bitcoin. Prosecutors in China have applied to confiscate the 61,896 BTC seized from Zhimin Qian in the UK, and a court in Tianjin has agreed to hear the case, according to a court notice reported by Chinese outlet The Paper.
The Bitcoin is worth about $5.1 billion at its current price of around $82,000.
The Tianjin No. 2 Intermediate People's Court said it accepted the application from the city's prosecutors on September 28, and published a notice on October 13. The court said there was evidence that Qian had committed fundraising fraud, mainly in Tianjin's Hedong district.
Besides the Bitcoin, prosecutors are seeking about 72,746 units each of Bitcoin Cash, Bitcoin Gold and Bitcoin SV, around 3.6 million XRP, and some 70 million Dogecoin, which UK authorities have already converted and placed in an interest-bearing account. The application also covers U.S. dollar, euro and pound cash, jewelry, bank balances and investment portfolios.
According to the prosecutors' application, Qian was the controller of Tianjin Lantian Gerui Electronic Technology, and between April 2014 and August 2017 sold fake wealth management products across China without a license, promising guaranteed returns. The scheme raised more than 40.38 billion yuan, most of which was not used for any genuine business, and left more than 102,000 investors with losses totaling about 19.98 billion yuan, prosecutors said.
Qian fled China in July 2017 with computers holding Bitcoin wallets and eventually reached the UK, where she converted some of the coins into other assets.
Prosecutors argue the seized assets are proceeds of crime that should be recovered, returned to victims, and otherwise confiscated. Because Qian has been a wanted fugitive for more than a year, the case falls under Chinese rules that allow confiscation without the suspect present.
Victims can apply to join the proceedings through a WeChat mini-program, though those who do not will still be able to receive repayments from any recovered assets. The notice period runs for six months, after which the court will hear the case.
Myriad: How high will Bitcoin go? Click to make your prediction.The UK caseQian was jailed for 11 years and eight months in the UK in November 2025, after pleading guilty to acquiring and possessing criminal property. Unnamed Treasury officials had privately raised whether the seized Bitcoin could help fill a shortfall in the UK's public finances, the Financial Times reported at the time, while legal experts argued that victims could be entitled to compensation if they could show a sufficient link to the coins.
Weeks after Qian's guilty plea, UK prosecutors told the High Court they were planning a compensation scheme for victims, without giving details. They have since said victims could be compensated through a redress scheme run from China.
On October 12, the High Court ruled that Chinese law should govern thousands of victims' claims to the coins, a decision seen as improving the UK government's chances of keeping them. Law firm Fieldfisher, which represents the claimants, said it is seeking to appeal.
The ruling does not decide whether the victims own the Bitcoin, since no evidence has yet been heard on the content of Chinese law, David Phillips, a dispute resolution partner at London law firm SMB, wrote on Wednesday. But it shows that "a victim cannot necessarily recover cryptocurrency simply by proving: 'That Bitcoin was bought with money taken from me,'" he wrote.
"Cryptoassets may operate without borders, but proprietary rights in them remain capable of raising intensely territorial questions of applicable law," Phillips added.
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Bitcoin experienced a sharp rally to nearly $85,000 late Wednesday before reversing course, dropping to around $81,800 within hours. This swift $3,000 fluctuation occurred in less than a day and left the world’s leading cryptocurrency down approximately 2% over the past 24 hours.
Heavy liquidations amid volatile movesThe dramatic price movement resulted in extensive liquidations across the market. According to data provider CoinGlass, traders saw approximately $431 million in leveraged positions forcefully closed during the 24-hour period. Liquidations occur when cryptocurrency exchanges automatically end leveraged trades if account balances fall below a required threshold, in an attempt to prevent further losses.
Short sellers, betting on a decline in price, were squeezed as Bitcoin surged upward. Of the total liquidations, roughly $173 million affected short positions during the initial rally. However, as the price quickly dropped, bullish traders faced even greater losses. Over the past 12 hours, long positions accounted for about $210 million of the $222 million in liquidations.
One of the hardest-hit trades was a single $11.8 million Bitcoin long position on Binance, which was liquidated near the $83,500 mark.
Mini dictionary: CoinGlass is a data analytics platform offering real-time data and analytics on liquidations, open interest, and other derivatives market metrics for major crypto exchanges.
The market’s rapid round trip triggered $431 million in total liquidations, with $210 million in long positions wiped out over the final 12 hours of trading.
Broader altcoin declinesMajor altcoins also saw notable losses during the same period. HYPE declined 4.5% to approximately $78. DOGE dropped nearly 4%, and SOL retreated 3%. Ether slipped 2% and traded just below $2,400. In contrast, XMR bucked the broader trend, surging 11% to about $650, based on CoinDesk data.
Cryptocurrency24-hour ChangeApproximate PriceHYPE-4.5%$78DOGE-4%N/ASOL-3%N/AEther-2%$2,400XMR+11%$650Key support and external market pressureBitcoin’s dip took it below the $82,500 threshold, a level which several market analysts have identified as important. A sustained break below this area could, according to some observers, open the door for a deeper correction towards $70,000.
Meanwhile, broader technology markets provided little support. Nasdaq 100 futures declined 1.1% after Tesla revised its capital expenditure plans lower and Lam Research reported a cautious outlook.
Breaking below $82,500 raises the risk of a continued move toward $70,000 if selling pressure persists, according to market watchers.
Bitcoin briefly approached 84,800 dollars on Wednesday before erasing almost all of its gains. BTC was trading around 82,800 dollars on Thursday, just above the closely watched 82,500 dollar support. The reversal is not only due to concerns about artificial intelligence. The war with Iran keeps oil at high levels, while US inflation remains at 3.7% and the Fed meets on October 28. Meanwhile, Bitcoin ETFs have nevertheless attracted more than one billion dollars in three sessions.
In Brief
Bitcoin approached $84,800 before returning to $82,800.
AI, oil, Iran, and Fed simultaneously weigh on risk appetite.
Bitcoin ETFs nevertheless attracted about $1.08 billion in three days.
Bitcoin Fails Again Below $85,000
Wednesday’s move had started well. Bitcoin surpassed $84,000, then approached $85,000. This area has blocked the market for several sessions. A few hours later, bitcoin returned to around $82,800. The situation is reminiscent of what was seen earlier in October when oil and tensions with Iran had already pushed Bitcoin below $83,000. Once again, $82,500 comes back as an important level.
CoinDesk reports that several analysts are watching this threshold as the main short-term support. A sustained break would further weaken the current structure. Conversely, a return above $84,000 then $85,000 would give buyers a bit more room.
For now, neither side has really taken control. Bitcoin remains stuck in a relatively narrow band after falling below $81,000 over the weekend. The rebound thus recovered some of the lost ground, but not enough to erase the fragility accumulated since the beginning of the month.
Other risky assets tell a similar story. Asian stocks fell sharply on Thursday. The MSCI Asia-Pacific ex-Japan lost about 1.8%, while several Asian tech indices dropped between 2% and more than 4%. Bitcoin is therefore not moving alone.
AI Spending Continues to Strain Wall Street
Meta and Tesla were highly anticipated Wednesday evening. Both companies reported different results, but they did not fully reassure investors on a question that has become central: how much more will need to be spent to build the necessary infrastructure for artificial intelligence?
Meta recorded revenue of $64.6 billion in the third quarter, up 26% year over year. Growth remains strong. So does spending. The group now expects $135 to $145 billion in capital expenditures in 2026. Data centers, chips, servers, and infrastructure for Muse and other AI products consume an increasing share of the group’s resources.
Meta’s free cash flow even turned negative in the third quarter, at about -$2.12 billion. Markets are thus trying to gauge when these investments will begin to generate sufficient revenue. This nervousness extends beyond Meta. For several weeks, chip manufacturers, cloud companies, and data center-related firms have experienced particularly volatile sessions.
The issue directly affects Bitcoin because BTC still behaves largely like a risky asset when the Nasdaq falls. Yet Arthur Hayes considers that a possible bursting of the AI bubble could then benefit Bitcoin, especially if authorities respond with more liquidity.
Not yet. In the short term, AI-related concerns rather reduce risk-taking. Tesla sent a different signal by limiting its spending. Its investments in the third quarter reached about $4.7 billion, far from the expected $7.5 billion. The automaker also lowered its annual target to about $20 billion, down from over $25 billion previously. That was not enough to dispel the nervousness.
Iran and Oil Remain a Direct Problem for Bitcoin
This is the other half of the story. Tensions in the Middle East have become significant enough again to keep Brent around or above $110 per barrel this week.
The Strait of Hormuz remains closely monitored. It is one of the most important passages in the world for oil and gas. On Thursday, tensions further escalated in the Gulf. Iranian Revolutionary Guards reported several incidents involving vessels and warned that any new US escalation could lead to a broader response.
Meanwhile, attacks in the region revived concerns about energy supply. The mechanism for Bitcoin is quite simple. Expensive oil feeds inflation expectations. Higher inflation can push the Fed to keep rates higher for longer or consider further tightening. Bond yields then remain attractive and riskier assets lose some of their appeal.
This chain of events has been seen several times since September. As recently as Tuesday, markets reacted almost immediately to conflicting information regarding a possible diplomatic breakthrough with Iran. WTI fell from over $101 to about $95.50 after initial reports of a compromise proposal. The Nasdaq moved from a nearly 1% decline to a 0.6% rise. Bitcoin recovered to $83,000.
Then a denial came. Oil rose back toward $97.60 and Bitcoin lost part of the move, around $82,300. Just a few dollars’ variation in oil was enough to move both stocks and Bitcoin simultaneously.
The Fed Inherits Inflation That Is Still Too High
The energy situation arrives at a bad time for the US central bank. September’s CPI inflation rose 0.6% month over month and 3.7% year over year, according to the Bureau of Labor Statistics. Energy explains a good part of this move. Gasoline prices jumped 9.1% in September, while the overall energy index rose 5.2%. Over twelve months, energy increased by 20.4%.
Bitcoin had already fallen after these figures were published. The problem now is that oil remains high several days after the report. The hoped-for easing of energy pressures is thus not really happening.
The Fed must make its next monetary policy decision on October 28. This meeting becomes more complicated as oil and inflation rise. Markets do not necessarily expect an immediate rate hike. But the debate is more about how long the Fed will need to maintain a restrictive policy.
The Federal Reserve’s schedule confirms a monetary policy meeting on October 27 and 28, with the decision expected on Wednesday. For Bitcoin, the rate itself will not be the only important element.
Comments on inflation, oil, and December’s future decisions can cause as much movement as the official announcement. BTC has already shown this year that a change in rate expectations can quickly move several thousand dollars. The Fed thus arrives in a market already very tense.
ETFs Bring $1.08 Billion Without Unlocking Bitcoin
One factor stands out in this very cautious context: institutional investors are buying again through ETFs. US spot Bitcoin funds attracted about $1.08 billion in three sessions. Monday marked the largest move. ETFs recorded $526.6 million in net inflows. BlackRock’s IBIT alone attracted $665.2 million, offsetting outflows observed at Fidelity and Grayscale.
Capital inflows are important after two difficult weeks. Bitcoin ETFs were still coming out of several sessions marked by withdrawals and insufficient demand.
The situation thus changed quickly. But $1.08 billion is not yet enough to send Bitcoin sustainably above $85,000. This gap deserves attention. In the fastest rising phases, ETF inflows are usually accompanied by strong spot demand, liquidations of sellers, and a favorable macroeconomic environment.
Today, ETFs do part of the work. The rest is still missing. The Nasdaq remains fragile, oil surpasses $100, the war with Iran continues to fuel the geopolitical premium, and the Fed arrives in less than a week with inflation at 3.7%.
That’s why the return of institutional capital has not yet produced the same effect as in September. Bitcoin still has an advantage: buyers have not disappeared. The market still defends the $82,000 to $82,500 area despite several external shocks. ETF inflows also show that some investors use pullbacks to regain exposure.
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Evans S.
Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.
Some Kalshi Prime clients will be able to fund margin on the prediction market’s perpetual futures with loans from a lending affiliate, secured by crypto in BitGo custody, the company reportedly said in a statement.
Kalshi unlocks perp trading with bitcoin-backed loans
Posted October 22, 2026 at 6:30 am ET.
Kalshi Prime clients will be able to take out loans against Bitcoin, Ether and stablecoins held at BitGo and put the cash toward margin on perpetual futures listed on Kalshi’s exchange, Bloomberg reported on Wednesday, citing a company statement and an interview with Kalshi Prime CEO Jeff Bandman.
Kalshi Prime is the prediction market’s US-registered futures commission merchant. The arrangement lets its clients keep their crypto exposure rather than selling coins to raise dollars for margin.
“What we wanted to do was make it possible for customers to stay in crypto,” Bandman reportedly told Bloomberg.
Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.
How the Loans Work
The program uses a tri-party structure. The client is the borrower, Kalshi Katalyst, a lending affiliate of Kalshi Prime, extends the loan, and the pledged assets sit at BitGo Bank & Trust.
According to Bandman, eligible collateral includes Bitcoin, Ether and stablecoins that meet the requirements of the GENIUS Act, the US stablecoin law. More custodians are expected to join the program later, Bloomberg reported.
Bandman pointed to investors who don’t want to sell their Bitcoin, and to a Latin American business that runs on dollar stablecoins, as examples of who might use it. He said he originally had crypto-native traders in mind, including those already trading perpetuals on offshore venues. “That was kind of the audience that I was envisioning, but now that we’ve built it, what’s fascinating is hearing these other use cases come out of the woodwork,” he said.
He added that the program could draw crypto trading firms and “whales,” meaning holders of large crypto balances.
Kalshi’s Perps Push
Kalshi started listing perpetual futures, contracts with no expiration date, earlier this year, with products tied to crypto, gold and silver.
The company has also asked regulators to approve perpetual-style contracts on oil and US stocks. In September, its clearinghouse, Kalshi Klear, applied to the Commodity Futures Trading Commission to offer margin on certain event contracts.
Related Listen: Why Kalshi Chose Crypto Perps for Its First Move Beyond Prediction Markets
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.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The countdown has officially started on the Bitcoin market. After a prolonged consolidation, the asset settled around $83,900, forming a foothold for a medium-term move. According to cyclical analysis, the market has a strictly limited window of 30–45 days to confirm the strength of the current bullish trend.
After that, the rules of the game will change, and time will start working against buyers.
Bitcoin daily chart showing a 60-day cycle breakout and key support levels around $83,900, Source: Bob Loukas / TradingViewThe current optimism is built on the nature of the previous weeks' closes. Well-known market strategist Bob Loukas notes that Bitcoin has successfully held the critically important low of the 60-day cycle.
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The cryptocurrency found solid ground without sliding into a deep panic-driven drawdown, and confidently broke out upward from the prolonged accumulation zone, consolidating above the moving averages (EMA). Loukas characterizes the current structure as a "clean setup": a transparent technical picture where the risks are clear and the vector points upward.
Three reasons why Bitcoin will have to hurryThe specifics of the launched 45-day timer are determined by three critical factors, within which buyers need to lock in their advantage:
Window of maximum realization. The period from late October to early December is historically the best time for accumulated momentum to play out. It is precisely in these weeks that Bitcoin must confirm the new cycle and storm the all-time highs.
Red line at $79,600. This countdown has a clear cancellation threshold. If within 45 days the price breaks down and closes below the $79,600 mark, Loukas's bullish scenario will be annulled, and the market will have to admit defeat and move to a deep defense.
Winter cyclical decline. In his comments, the researcher emphasizes that the period from December to February will, with high probability, become a declining phase (declining cycle). If Bitcoin does not form a local peak within the allotted deadline, the winter cooling will begin from critically low and painful positions.
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The technical deadline coincides with Bitcoin's record-low volatility for 2025. The inflow of institutional money through spot ETFs has noticeably smoothed out fluctuations, making the market more mature, but also more dependent on liquidity in the US.
The Bitcoin's ability to fit within the 45-day timing will be tested by two upcoming triggers: the US Fed's FOMC meeting on October 28, which will take place against the backdrop of 3.7% inflation, and a large-scale options expiration worth $12 billion, scheduled for October 30.
Bitcoin has entered a zone of heightened responsibility. The next month and a half will show whether the asset is ready to convert the held low into a full-fledged uptrend, or whether the timer will reset and the market will take a prolonged pause until the end of winter.
Bitcoin (BTC) fell nearly 3% on Thursday after an attempt to break higher was rejected near $85,000.
Key points:
Bitcoin returned to near $81,500 after Tesla reported a lower-than-expected Q3 capital expenditure (capex) of $4.73 billion.South Korea’s KOSPI Composite Index saw fresh weakness, closing down 3.5% on Thursday.BTC price action rejected from a resistance trend line at $84,840, preserving a pattern of lower highs.Tesla capex underspend raises questionsData from TradingView showed BTC/USD retracing around Wednesday’s daily close, subsequently returning below $82,000. The pair gave back the entirety of the gains made on that day, when price peaked at around $84,840 on Bitstamp.
Higher-than-expected US corporate earnings had helped spark a rally in both crypto and stock markets. However, results from Tesla after the Wall Street closing bell did not provide the same promising signals as seen from SpaceX and General Motors earlier in the week.
The company reported Q3 revenue of $28.05 billion, just short of Bloomberg’s $28.13 billion estimate. However, capital expenditure came in at $4.73 billion, well below the projected $7.96 billion. The capex numbers appeared to fuel concerns over the AI sector as markets recovered from last week’s Asia tech-stock sell-off.
“Lower capex suggests less of an ‘all-in’ approach to the AI arms race than one would expect from Elon,” Ryan Lee, senior vice president of product and strategy at Direxion, told Reuters, referring to Tesla CEO Elon Musk.
On the company’s earnings call, Musk said spending would rise through 2028.
“I think capex is actually ending up being a little lower than we anticipated, but we’ll start to become more meaningful next year. And then noticeable in the tens of billions in ’28,” he said, quoted by Bloomberg.
South Korea’s tech-heavy KOSPI Composite Index finished Thursday’s trading session down 3.52%, struggling to sustain a recovery after dropping to 5,460 points last week, its lowest level since late July.
KOSPI Composite Index one-day chart. Source: Cointelegraph/TradingView
Bitcoin sees lower high with resistance trend line still in placeOnchain data showed a marked increase in open interest (OI) across crypto trading platforms prior to Bitcoin’s reversal.
OI reached $55.95 billion late Tuesday, per CoinGlass figures, after gaining 4.5% over 24 hours to reach its highest tally since Sept. 25. Such increases in OI heighten the market’s susceptibility to long or short cascades that can turn brief reversals into deeper corrections.
Bitcoin exchange OI data (screenshot). Source: CoinGlass
On three-day time frames, BTC/USD saw rejection at a downward-sloping trend line, preserving a cycle of lower highs. On Tuesday, crypto trader and analyst Rekt Capital argued that this trend line resistance needed to be broken as a prerequisite for sustained upside momentum.
BTC/USD 3-day chart with resistance trend line. Source: Cointelegraph/TradingView
Previously, Cointelegraph reported on the area between $80,000 and $81,500 now forming key support, because it hosts the cost basis for the US spot Bitcoin exchange-traded funds (ETFs).
Bitcoin fell to around $81,800, down 2.7% since midnight UTC, extending its decline below $82,500 after a late-Wednesday surge to nearly $84,800 reversed.Mixed results from Tesla and Meta revived doubts over AI spending, weighing on equities and sending Nasdaq 100 futures down 1.32% and the Hang Seng index more than 2% lower.The CoinDesk DeFi index slumped 5.6% while the CoinDesk 5 fell 2.5%.Bitcoin BTC$84,459.46 slid by the most in two weeks, losing as much as 2.9% since midnight UTC to below $82,000 after mixed earnings reports from Tesla TSLA and Meta Platforms META revived doubts over AI spending and sent equities lower in Asia.
Chinese stocks entered a bear market, Hong Kong’s Hang Seng index fell more 3%, South Korea’s Kospi lost 3.5% and Japan’s Nikkei 225 slipped 2.7%. Nasdaq 100 index futures dropped 1.32% and S&P 500 futures 0.66%.
Altcoins fell even harder than bitcoin, with the CoinDesk 80 (CD80) recently down 3.2% compared with 2.5% for the CoinDesk 5 (CD5). Ether ETH$2,490.55 lost 2.6% to near $2,400. DeFi bore the brunt, with the sector index (DFX) sliding 5.6%.
Spot bitcoin ETFs took in more than $1 billion over the first three days of the week, according to SoSoValue data, and Solana’s Alpenglow upgrade went live overnight, though SOL fell 2.4% to around $104. U.S. jobless claims are due later today.
Derivatives positioning Crypto futures see churn: Trading in crypto derivatives surged 19% to $226.6 billion, even as open interest fell 2.46% to $141.8 billion and liquidations jumped 52% to $431.1 million. Traders were mostly closing bets, not opening new ones. Longs and shorts are split almost evenly, so the pain was not one-sided.BTC and ETH, majors see no new money: Volume jumped 36% for bitcoin and 27% for ether, yet open interest fell about as much as price did. That means the number of contracts held barely changed, and the dollar drop in open interest is mostly price. Traders were active, but they were not adding or cutting risk in size. Funding is barely positive, so there is no crowded bet on either side.ZEC, NEAR, UNI, LINK and SUI, altcoin longs are leaving: Open interest fell much faster than price in all five coins. ZEC is the clearest case, with open interest dropping 6.99% as the price fell 2.34%. NEAR (-8.83%) and UNI (-10.17%) showed the same pattern. Positions are likely being closed, not held through the dip. XAU, XAUT, XAG and CL, traders pile into commodity perps: Money is flowing into commodity contracts while crypto drains. Open interest in gold rose 12% even as its price slipped, which implies about 13% more contracts. Tokenized gold XAUT (+10%) and silver (+6.8%) show the same pattern. Rising open interest with a falling price means traders are adding shorts, or longs are buying the dip and paying to hold. Crude oil open interest is up 6.29% with negative funding of -0.0126%, so shorts are paying to stay in.OI-normalized CVD shows market-order selling has taken over: Some 24 hours ago, almost every token saw more market-order buying than selling, with the gap peaking in the middle of the night. That flipped in the morning, with market-order selling dominating across major tokens, including BTC and ETH.XMR is the outlier on the funding rates heatmap: Monero funding at around an annualized 70% is far above every other token. It shows that longs are paying a steep premium to hold, which is the kind of leverage build-up CoinDesk flagged on Wednesday. It is the one pocket of crowding in an otherwise quiet market, so it is the token to watch for a liquidation event if the price turns.Implied volatility gauges stay near yearly lows: Bitcoin’s BVIV and ether’s EVIV are hovering just above their 2026 lows. Options traders are not paying for big price swings, which points to a calm market.Calls dominate volume on Deribit: The $85,000 and $86,000 calls expiring Oct. 30 were the most traded bets on Deribit over the past 24 hours. Short-dated skews still favor puts, so downside protection costs more than upside bets. It seems traders want to chase a rally, but are not prepared to drop their hedges. Ether options show the same pattern.Token talkPrivacy coins diverged, with monero (XMR) adding 4.9% to around $651, one of only five members of the CoinDesk 100 (CD100) to gain since midnight, while zcash (ZEC) fell 4.8% to around $1,252. XMR is up around 19% over the month, with futures open interest topping $300 million this week, near January’s record, according to SoSoValue data.DeFi led the decline on Thursday. Curve CRV$0.3929 fell 8.2% to 37 cents, though it is still up around 4% over the week. Ethena (ENA) lost 7.2%, extending a decline of around 25% over the month from its late-September peak. Uniswap (UNI) dropped 5%, leaving it down around 20% in October despite record fee revenue in September, according to Token Terminal.Celestia (TIA) fell 3.7%, extending a slide of this week’s slide to 9% and trimming the month’s gain to around 31%, ahead of an unlock of 5.58 million TIA on Oct. 31. Layerzero ZRO$2.0132 lost 4.2% and worldcoin WLD$0.5712, the iris-scanning identity token, dropped 7.3%.Sandbox SAND$0.05893 and starknet STRK$0.05642 tumbled by 5.1% and 6.1%, respectively. SAND had advanced after South Korea’s Upbit, Bithumb and Coinone lifted trading cautions, while STRK had gained after the network said it was considering becoming a quantum-resistant layer-1.Pump.fun PUMP$0.005148, the Solana memecoin launchpad token, fell 6.0% and remains down around 19% this month.Related Assets
Strategy has prioritized bolstering its capital base rather than accelerating the purchase of Bitcoin [BTC], using approximately three times more for preferred stock repurchases.
From the 14th of September to the 18th of October, Strategy purchased nearly $888 million worth of its own preferred stock. During that same time frame, it acquired an additional 3,466 Bitcoins at a cost of approximately $290 million.
Although Strategy may be able to reduce future obligations related to dividends, the reduced rate of growth in Treasury holdings is likely to continue.
Source: Santiment
The weekly purchases of Bitcoin declined dramatically from 1,665 in late September to only 267 by the middle of October, while the amount spent by Strategy on buybacks grew to $193.1 million.
This spending switch led to a significant decline in Strategy’s cash reserves from $1.3 billion to $447.3 million.
Whale accumulation outpaces Strategy’s Bitcoin buying
Over roughly a one-month period, large whale buyers accumulated 88,987 Bitcoins, while Strategy purchased only 3,466. This difference illustrates that large whales are currently accumulating significantly more Bitcoin than Strategy is directly contributing to overall demand.
Source: Santiment
However, Strategy’s ability to resume larger purchases depends increasingly on its preferred-stock financing strategy. In fact, Strategy has already expanded its authorization to spend $3 billion on buybacks and has used approximately $1.84 billion of those funds.
Currently, STRC trades for around $99.20 per share and offers a 12% annualized dividend. These commitments may limit the amount of Bitcoin that strategy can purchase going forward should Strategy’s cash reserves continue to dwindle.
Source: Strategy
Meanwhile, exchange reserves edged up from 2.67 million to 2.68 million BTC, suggesting some supply remains available. Sustained accumulation will depend on financing flexibility, dividend coverage, and continued institutional demand.
MSTR outperforms Bitcoin as STRC holds near par
While Strategy has prioritized preferred-stock buybacks over Bitcoin purchases, its market performance reveals how investors value its different securities.
For example, after Bitcoin recovered on the 21st of October, MSTR moved upward by 7.54% to trade at $153.48. However, Bitcoin only experienced a gain of 2.07%.
Source: X
This stronger move suggests investors responded more sharply to Bitcoin’s recovery through Strategy’s leveraged equity exposure. Coinbase also rose 3.65%, while BlackRock’s IBIT gained 2.42%, reflecting broader strength across crypto-linked investments.
Both represented positive performance for other crypto-linked investment vehicles. Conversely, STRC traded higher by only .50% to reach $99.20, remaining very close to its par value of $100.
While STRC’s 12% annualized dividend provides attractive support for income-focused investors, this support limits price movements relative to MSTR.
MSTR’s outperformance highlights stronger near-term equity demand but does not prove Strategy can sustainably finance larger Bitcoin purchases.
Final Summary
Strategy spent $888 million on buybacks versus $291 million on Bitcoin, draining cash reserves.
Strategy trailed whale accumulation, as future Bitcoin buying depends on liquidity and financing.
A Bitcoin wallet connected to convicted Irish drug trafficker Clifton Collins transferred 500 BTC, valued at $41.5 million, to a Coinbase Prime deposit address on October 20. The coins had been inactive since January 2016, marking nearly 11 years without movement.
Connected wallets move $208 million in 2026This is the fifth occasion in 2026 that wallets linked to Collins have moved 500 BTC each, bringing the total transferred this year to 2,500 BTC. At current prices, that amount is worth approximately $208 million.
Blockchain analytics firm Arkham Intelligence tracked the latest transaction, noting that after reaching the Coinbase Prime address, the coins were divided into 42 separate outputs, which included 40 transfers of exactly 10 BTC.
Similar patterns were observed in previous transfers during July and August, as separate wallets dispatched 500 BTC each to the same Coinbase Prime-linked address.
Authorities have not publicly confirmed a sale of the assets or identified who is responsible for the most recent transfer, and blockchain records do not provide evidence of a direct sale.
After the coins arrived at Coinbase Prime, the receiving address split them into 42 outputs, with 40 transfers of 10 BTC each, mirroring earlier movement patterns from related addresses.
Background of Clifton Collins and lost bitcoin fortuneClifton Collins, a former Irish security guard and cannabis cultivator, reportedly accumulated roughly 6,000 BTC between 2011 and 2012 from proceeds of illegal drug operations. He is believed to have distributed the coins across 12 different wallets, storing the private keys on printed paper hidden in a fishing rod case.
When law enforcement arrested Collins in 2017, his landlord discarded his belongings, including the fishing rod case, at a landfill in County Galway. As a result, the crypto assets were thought to be irretrievable.
In March 2026, Ireland’s Criminal Assets Bureau (CAB)—an agency responsible for recovering assets linked to criminal activity—announced that with Europol’s European Cybercrime Centre, it had accessed a wallet containing 500 BTC. At the time, the coins were valued at around €30 million.
CAB later reported separate recoveries of 500 BTC in May and July 2026, confirming that the agency had retrieved a total of 1,500 BTC.
Technical support and decryption tools from Europol reportedly played a role in the recovery, though Irish authorities have not detailed how they restored access to the previously lost wallets.
Two additional 500 BTC transfers occurred in August and October 2026, exceeding the amount officially confirmed by authorities. Arkham stated that the pattern and size of these transactions suggest law enforcement involvement but noted that Irish agencies have not acknowledged responsibility for the latest moves.
Coinbase Prime provides custodial and trading services to large institutional and government clients, including the ability to move cryptocurrency into custody without immediate sale on public markets.
The Criminal Assets Bureau makes decisions on disposing of or liquidating confiscated property based on court orders. As of the latest update, CAB has not clarified whether it will sell or retain the most recently transferred 500 BTC.
According to Arkham, approximately 3,500 BTC, or about $291 million, remains in wallets still linked to Collins. Bitcoin traded at $81,870, down 1.42% over the past 24 hours.
Mini dictionary: Criminal Assets Bureau (CAB) — Ireland’s state agency for confiscating and managing assets derived from serious crime, frequently acting in cooperation with European authorities like Europol for transnational cases involving digital assets.
DateAmount Moved (BTC)Wallet StatusApproximate USD ValueMarch 2026500Recovered by CAB$41.5 millionMay 2026500Recovered by CAB$41.5 millionJuly 2026500Recovered by CAB$41.5 millionAugust 2026500Unconfirmed$41.5 millionOctober 2026500Unconfirmed$41.5 million
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.
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Bitcoin dropped nearly 3% on Thursday after an attempt to rally was rejected near the $85,000 level, with price action struggling to stay above support zones observed earlier in the week.
Tesla results add pressure to crypto and equitiesTesla, the electric vehicle manufacturer led by Elon Musk, delivered third-quarter financial results on Wednesday that missed analyst expectations for both revenue and capital expenditure (capex). The company reported Q3 revenue of $28.05 billion, just under the $28.13 billion forecast by Bloomberg, while its capex came in significantly lower at $4.73 billion versus a projected $7.96 billion.
Tesla’s lower-than-anticipated spending raised concerns about the company’s commitment to artificial intelligence initiatives. Ryan Lee, senior vice president of product and strategy at Direxion, remarked that the subdued capex pointed to “less of an ‘all-in’ approach to the AI arms race than one would expect from Elon.”
“I think capex is actually ending up being a little lower than we anticipated, but we’ll start to become more meaningful next year. And then noticeable in the tens of billions in ’28,” CEO Elon Musk stated on the earnings call, according to Bloomberg.
The impact of Tesla’s report was felt across financial markets, with US equities and cryptocurrencies reversing course after the results were released. Upbeat earnings from SpaceX and General Motors earlier in the week had previously lifted both sectors, but the mood quickly shifted following Tesla’s update.
Meanwhile, South Korea’s KOSPI Composite Index, which tracks major listed companies in the country, dropped 3.5% in Thursday’s session after an unsuccessful recovery attempt. This move coincided with continuing weakness since last week’s tech stock sell-off in Asia. At 5,460 points, the KOSPI recently marked its lowest reading since late July.
Mini dictionary: KOSPI Composite Index, the main stock market index representing all common stocks traded on the Korea Exchange.
Bitcoin retraces, open interest soarsAfter peaking at $84,840 on Bitstamp, Bitcoin quickly gave back its daily gains, drifting toward $81,500 toward the end of Thursday. Data from TradingView indicated that BTC/USD fell below $82,000 as momentum faded, erasing progress from the previous day.
Technical data showed Bitcoin’s price repeatedly failing to break a resistance trend line at $84,840, maintaining a series of lower highs over the short-term. This persistent barrier has limited upside moves in recent trading periods.
Prior to the reversal, open interest (OI) across major crypto trading platforms exceeded $55.9 billion, according to CoinGlass, reaching its highest point since late September. A 4.5% increase in OI over 24 hours amplified volatility and raised concerns about potential long or short cascades in the event of rapid price swings.
On longer three-day charts, the downward-sloping resistance trend has remained intact, with crypto analyst Rekt Capital highlighting the importance of breaking this line to sustain further bullish momentum.
The area between $80,000 and $81,500 has emerged as significant support, as this range reportedly contains the cost basis for US spot Bitcoin ETFs.
Following Thursday’s price action, Bitcoin retained the pattern of lower highs, while traders continued to monitor both technical and macroeconomic developments influencing the market’s next direction.
Webull plans to put Kalshi’s regulated perpetual futures in front of eligible American brokerage customers in November. The contract never expires, but funding, margin and a separate clearinghouse still determine what a position costs and when it closes.
Summary
Webull announced an initial November rollout on October 20, 2026. The CFTC approved Kalshi’s BTCPERP contract on May 29. Kalshi says funding adjustments occur 3 times each day in its app. Webull expects wider access before the end of 2026. The initial lineup includes Bitcoin and selected crypto assets, subject to listing requirements. Webull has announced plans to offer Bitcoin and other crypto perpetual futures to eligible U.S. customers starting in November.
The company’s October 20 release identifies KalshiEX as the exchange and Kalshi Klear as the clearinghouse. Customers approved for futures trading would use existing Webull Futures accounts. Webull has not published the exact launch day, the full asset list or the initial margin schedule for every contract.
For a brokerage customer familiar with stock options or conventional futures, the unfamiliar feature is the absence of expiry. The position can remain open as long as margin obligations are met. It is not a permanent right to hold exposure without fresh cash demands: funding transfers, price moves and maintenance requirements continue while the trade is alive.
November will put an existing contract on a new front end The Commodity Futures Trading Commission approved KalshiEX’s Bitcoin perpetual contract on May 29. Its approval announcement describes BTCPERP as a futures contract referencing Bitcoin’s spot price. Kalshi brought the product to market in June; the coming Webull rollout changes distribution, not the original approval date or the underlying nature of the contract.
Webull says the first offering will include Bitcoin and selected crypto assets. Future additions depend on regulatory review and exchange listing requirements. Its statement gives no basis to promise that every coin a customer can trade on an offshore venue will appear in a Webull Futures account. Wider availability before year-end is a company expectation, not a confirmed national opening for every account holder.
The first Kalshi Bitcoin perp coverage described the May regulatory decision, while Kalshi’s subsequent launch established that the contract was already available on the exchange. Webull adds a separate brokerage relationship and a much more familiar interface for investors whose accounts already hold other products.
KalshiEX is a designated contract market supervised by the CFTC. Kalshi Klear is a registered derivatives clearing organization. Webull provides the customer-facing brokerage route through futures-approved accounts. Those names are not interchangeable. An investor placing an order through Webull is trading an exchange-listed derivative that is cleared at a separate regulated entity; the asset displayed on a Webull screen is not Bitcoin held in a spot wallet.
JUST IN: Kalshi files with the CFTC for equity index perpetual futures
The products would allow leveraged long or short positions on major indexes pic.twitter.com/33F2cExZx9
— crypto.news (@cryptodotnews) August 19, 2026 The cash flows do not resemble a spot Bitcoin purchase A Bitcoin spot buyer pays for coins and then owns an asset subject to custody arrangements. A BTCPERP trader posts collateral for a cash-settled futures position. The CFTC’s Kalshi product filing says the contract has no fixed expiration and settles in cash. Price exposure, margin and funding determine the account’s economic result; a trader does not receive onchain BTC merely because the futures price rises.
Conventional dated futures converge through expiration or are rolled to another maturity. A perpetual contract lacks that scheduled endpoint. Its funding mechanism transfers value between long and short positions according to exchange rules so the derivative price stays tethered to the underlying reference. Funding can change over time. A directionally correct view of Bitcoin’s eventual price can still lose money if carrying costs, intraday losses or forced liquidation overwhelm the account before the move arrives.
Kalshi’s educational material says its own application adjusts funding 3 times per day. That information describes the exchange’s current product documentation, not a promise that Webull will present every calculation or notification in an identical way. Before trading, a customer would need the actual contract specifications, funding formula, fee schedule and the timing of cash movements applicable to the position being opened.
Consider a simplified illustration without assuming the live margin rates. A customer has $1,000 in collateral and opens a $5,000 long exposure. A 5% fall in the futures price represents a $250 trading loss before fees and funding, or one quarter of the initial collateral. A 5% rise would yield the same gross gain, but leverage magnifies both directions. The account can face a maintenance call or liquidation before any full 5% move depending on the exchange’s actual thresholds, collateral and interim funding. The numbers illustrate arithmetic, not Webull’s announced leverage limit.
An approved contract is not approval for every client Webull states that initial access is for eligible U.S. customers approved for futures trading. Existing Webull stock or crypto access does not imply a futures account is approved. Futures products have separate disclosures, suitability or account-opening procedures, margin obligations and jurisdictional rules. The company has not disclosed how many existing customers meet its criteria.
Kalshi’s contract approval addressed exchange listing under CFTC Regulation 40.3. The exchange must operate under designated-contract-market obligations and its clearinghouse under a distinct derivatives regime. Brokerage access adds customer onboarding and the futures commission merchant relationship. Those layers do not vanish because the trade is shown alongside stocks and options in one application.
The arrival of Kraken’s U.S. crypto perps and the Coinbase route to global perp liquidity show that Webull is entering a market with multiple structures. Some products trade on U.S. designated exchanges; others route through arrangements involving foreign futures under CFTC staff guidance. Treating every offering labeled a perpetual as the same regulated contract would obscure differences in venue, custody, margin and legal claim.
There is a distinction even within Kalshi’s business. The company operates event contracts as well as crypto derivatives. Its Bitcoin perpetual is a futures contract referencing spot Bitcoin, approved under a specific CFTC order. A dispute about how states regulate sports event contracts does not change that instrument’s reference price, funding mechanism or futures-clearing architecture.
Funding can turn a winning direction into a losing trade Perpetual funding is often described as a small regular adjustment. Small rates compound when a position stays open, and a temporary spike can make holding expensive precisely when leveraged traders crowd into one direction. The funding payment is separate from the profit or loss caused by Bitcoin’s price movement. An account statement that combines them without explanation can give an incomplete account of why equity changed.
Suppose a $10,000 notional position pays an illustrative 0.01% funding rate at each of 3 daily intervals. The payments would total $3 a day, or $90 across 30 days if both notional and rate were constant. They rarely remain constant. At 0.10% per interval, the same calculation becomes $30 daily and $900 over 30 days. Neither figure is a forecast of Kalshi funding. The exercise shows why an advertised zero-expiry position has a continuing price even when the displayed BTC price is flat.
Margin creates a second clock. A long position can lose collateral as the market falls. If account equity drops below maintenance requirements, a liquidation process can close the position, leaving a trader unable to wait for a recovery. Kalshi’s margin explanation describes isolated margin in its own application. The account-level implementation and any brokerage-specific settings must be checked in the product terms when Webull goes live.
Kalshi and Webull emphasize regulated infrastructure and visibility into liquidation levels. Those features make a risk measurable, not absent. An investor can compare the maintenance requirement and expected funding payments before entering, then watch the live balance instead of assuming an evergreen contract can be left alone. The exchange’s rulebook, clearing notices and Webull’s customer disclosures will provide the controlling details.
The case for bringing perps into a brokerage Webull’s U.S. chief Anthony Denier cited substantial global demand for perpetual futures in the company’s announcement, stating annual volume exceeded $90 trillion in 2025. That is Webull’s industry estimate, not a volume figure for its planned November launch or for Kalshi’s Bitcoin contract. The argument for integration is straightforward: investors who already use a regulated futures account could reach an exchange-listed version without moving to an offshore venue.
A separate clearinghouse can net and manage obligations under established derivatives rules, while an approved customer sees information on margin and funding through a broker. Webull says access would sit beside other futures in the account, with stocks, options, spot crypto and event products elsewhere on its platform. The ability to see several assets in one application can simplify navigation, although consolidated presentation does not merge their protections or settlement methods.
Competition is real. Kalshi’s expansion into additional crypto perps gives Webull more than one prospective underlying; Kraken and Coinbase have their own client bases and liquidity routes. If regulated U.S. order books deepen, traders may have more choices about spreads, collateral, hours and execution. The announcement by itself supplies no comparative pricing data showing Webull will be cheaper or more liquid than its rivals.
The counterargument is that offshore venues have years of liquidity, deep order books and familiar collateral practices. A new brokerage distribution channel cannot recreate those conditions on launch day. Volume at a venue is not the same as open interest, and an exchange-wide figure says little about a specific contract’s depth at a volatile hour. The first published trading statistics after Webull launches will give a firmer basis for judging whether new access produces durable activity.
Price formation and the funding reference deserve scrutiny A cash-settled Bitcoin future needs a reference for the underlying spot price. The exchange’s specifications determine the index or calculation, funding intervals, disruption procedures and settlement-related payments. Even an investor whose view is on Bitcoin rather than the derivative has exposure to those contract rules while the position is open.
The spread between perpetual and reference price can widen in a fast market. Funding encourages convergence over time, but it does not guarantee a perp always trades at the exact spot price. Market makers can quote both directions when hedging is available; a thin book can produce a worse fill or a liquidation at a different price from a casual view of the reference chart. The customer’s execution price, reference level and funding rate need to be treated as separate observations.
On a 24-hour market, risk controls must operate outside conventional stock-market hours. Crypto moves on weekends; maintenance margin still applies while U.S. equities are closed. A brokerage user who assumes trades will pause when stock exchanges do may misunderstand the product. Webull has not yet published its precise launch timetable or any product-specific maintenance-window schedule for the new distribution route.
The CFTC approved Kalshi’s BTCPERP after reviewing the filing, but regulatory approval is not a government assessment that a leveraged position is suitable for every investor. Approval concerns the exchange-listed contract and applicable market rules. Customer eligibility, financing cost and individual losses belong to a different decision at the brokerage and account level.
JUST IN: CFTC approves BTCPERP as its first regulated perpetual futures contract. The approval relies on precedent that futurity does not require a fixed final delivery date pic.twitter.com/c7LXxNVNlC
— crypto.news (@cryptodotnews) June 16, 2026 What remains unannounced before November One unresolved question concerns exactly what a trader sees when the collateral in a futures account changes. The exchange calculates margin against its own rules, the clearer manages obligations after a trade, and Webull displays account figures to the customer. Those processes can be presented in one interface but are not the same calculation. A position-level screen needs to distinguish available cash, initial margin, maintenance margin, unrealized profit or loss and accrued funding. The company says it intends to give users visibility into funding, leverage and liquidation levels; the live display has yet to be observed.
An account holder comparing two perps should look at the units in which prices and funding are quoted. A percentage funding rate applies to a notional exposure, not merely to the dollars posted as collateral. In the earlier $5,000 example, a 0.10% funding charge would be $5 for one interval even if the customer put up only $1,000. Quoting that $5 as 0.10% of collateral would understate its effect fivefold. Changes in notional value or position size change the cash payment, so a flat historical funding rate is not an adequate forecast of carrying cost.
The clearing structure has a role when one side of a trade cannot pay. A registered clearinghouse maintains rules for collecting margin and handling defaults between participants. Its presence can reduce bilateral counterparty exposure within that system, but it does not insure a customer’s trading losses or promise a favorable fill during stressed conditions. The trade remains leveraged and can be closed by the applicable liquidation mechanism. A useful post-launch comparison would examine the actual customer agreement and exchange rulebook rather than assuming that the word regulated describes every risk a position faces.
There is an additional question about how the first audience is selected. Webull has said the initial group consists of eligible, approved futures customers. The number of such accounts is undisclosed, as is the fraction Webull intends to activate in November. Even if the exchange lists several underlying assets, the broker can stage customer access. First-week order flow is therefore a joint measure of exchange liquidity and distribution choices, not a clean measure of American appetite for Bitcoin perps overall.
Webull has given a month, not a date. It named Bitcoin but left its other starting assets unspecified. The company promised wider availability before year-end without disclosing how many eligible clients will receive access in the first stage. No launch-day bid-ask spread, open interest or Webull customer volume exists to measure yet.
The primary documents establish a sequence: CFTC approval in May, Kalshi trading beginning in June, and Webull’s distribution announcement in October for a November rollout. They do not establish that Webull will create a new Bitcoin futures contract, change the exchange’s margin rules or deliver Bitcoin into customer wallets. A prudent analysis of the planned product starts with the contract specifications and ends with the first observable account terms and market data.
Webull says eligible users will trade through their Webull Futures accounts. The exchange and clearinghouse are KalshiEX and Kalshi Klear, respectively. Its October 20 release says additional products will follow only subject to regulatory review and exchange listing requirements.
What to watch First trading day: Webull’s launch notice should identify the actual start date and customer eligibility. Contract list: Exchange notices will establish which assets beyond Bitcoin are initially available. Funding and fees: Published specifications can show the true cost of maintaining exposure through several funding intervals. Margin disclosures: Initial and maintenance requirements determine how far a position can move before intervention. Liquidity: Contract volume, spreads and open interest after launch can show whether brokerage distribution brings sustained trading. FAQ When will Webull offer Bitcoin perpetual futures? Webull says the initial rollout begins in November 2026, with wider availability expected before year-end. It had not published an exact launch date as of October 22.
Who can trade the new contracts? The company says access begins with eligible U.S. customers approved for futures trading through Webull Futures accounts. A standard stock account alone does not establish eligibility.
Does the Bitcoin contract ever expire? Kalshi’s BTCPERP has no fixed expiration date. Funding and margin obligations continue while a position remains open.
Do traders receive actual Bitcoin? No. The CFTC filing describes a cash-settled futures contract referencing Bitcoin’s spot price. A futures position is not a spot Bitcoin withdrawal.
Who lists and clears Webull’s perpetual futures? KalshiEX lists the contracts, and Kalshi Klear clears them. Webull provides the brokerage access described in its October 20 announcement.
What is a funding payment? It is a periodic transfer linked to the perp’s price relative to its reference. The payment is distinct from gains and losses caused by a move in Bitcoin itself.
Can a position be liquidated before Bitcoin recovers? Yes. If account equity falls below maintenance requirements, the exchange’s rules can trigger liquidation even though the contract itself has no expiry.
Is November’s full coin lineup known? No. Webull named Bitcoin and selected crypto assets but did not publish a complete starting list. Additional products depend on review and listing requirements. 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 22, 2026.
Bitcoin and altcoins are once again facing a sell-off. Under this selling pressure, BTC has fallen back below $82,000, while Ethereum has dropped to around $2,400.
However, according to one analyst, Bitcoin, Hyperliquid (HYPE), and Zcash (ZEC) are showing potential recovery signals following this sell-off.
Is Bitcoin’s Recovery Likely to Strengthen? Ali Martinez, a closely watched analyst in the market, pointed to buy signals in all three assets and stated that their next moves would depend on whether key support levels are held.
At this point, the analyst first recalled that the TD Sequential indicator gave a sell signal after Bitcoin approached $85,000, and that BTC lost approximately 2.80% of its value, falling to the $82,000 level.
Noting that the TD Sequential indicator generated a buy signal this time after the sell signal, the analyst indicated that the correction may be nearing its end and a new recovery could occur in the coming period.
The Critical $82 Level for Hype is Back in the Spotlight! Secondly, the analyst noted that the TD Sequential indicator also gave a buy signal for HYPE.
The analyst also noted that the TD Sequential indicator for HYPE had given a sell signal at its local peak around $82, resulting in a 4.22% drop in price. Now, however, the same indicator is generating a buy signal again on the hourly chart. According to the analyst, if the $78 level is maintained, HYPE has the potential to recover towards $82 and higher.
Buy Signal in Zcash: $1,250 Support is Critical! According to the analyst, Zcash is exhibiting similar price movement. Noting that the TD Sequential indicator gave a sell signal near its local peak of around $1,350, the analyst stated that the price subsequently experienced a 6.44% retracement.
According to the analyst, with the indicator generating a buy signal again, attention for ZEC has turned to the $1,250 support level. If this level is maintained, ZEC may be able to recover towards the $1,350 level.
*This is not investment advice.
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Crypto analyst Ali Martinez noted that the recent rebound in Bitcoin (BTC), XRP, and Cardano (ADA) prices coincided with a sharp increase in cryptocurrency inflows to exchanges. Martinez pointed out that large investors could have an influence on short-term price movements.
During the same period, there was also a remarkable increase in the amount of Bitcoin sent to cryptocurrency exchanges. According to the data, exchange inflows rose from approximately 7,682 BTC to 25,124 BTC.
These figures show that the amount of Bitcoin channeled to exchanges more than tripled in a two-day period.
Martinez stated that similar activity was observed in the XRP and ADA markets. According to the analyst, the increase in exchange inflows along with the price recovery in the three crypto assets strengthens the possibility that large investors are playing a significant role in market movements.
Transfers, particularly those made by investors holding large amounts of cryptocurrency and known as whales in the market, can affect short-term supply and liquidity conditions.
However, large-scale transfers to exchanges do not necessarily mean that direct sales are being made. These transactions can also be carried out for various investment and liquidity management purposes.
Martinez’s assessment suggests that large investor movements may be behind the recent price increases in BTC, XRP, and ADA.
However, the available data does not definitively prove that these price changes were caused by intentional market intervention. The simultaneous price and transfer movements highlighted by the analyst are among the indicators that should be monitored to assess the short-term direction of the market.
*This is not investment advice.
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Vandell, co-founder of Black Swan Capitalist, expressed confidence that XRP’s price can appreciate further without relying on greater utility, regulatory clarity, or widespread adoption. Black Swan Capitalist is an investment research firm specializing in digital asset analysis and strategy.
XRP price growth driven by scarcity and speculationOn X, Vandell pointed to XRP’s price history as evidence for his position. He argued that market forces such as scarcity, narrative, and speculation have historically driven the asset’s value. In his view, these forces may remain more influential than utility-based developments.
While not dismissing institutional adoption, Vandell described it as an additional source of demand rather than a necessity for price appreciation. He suggested that other dynamics, including the fixed supply and ongoing dollar-denominated inflation, play larger roles in determining price movements.
XRP does not need utility to go higher. According to Vandell, markets tend to price scarcity and narrative over utility, citing fixed supply, escrow mechanisms, perceived value, and overall asset inflation as primary drivers.
Vandell responded to inquiries from David Frank, who questioned how an asset without practical utility could rise in value. To illustrate his argument, the Black Swan Capitalist co-founder compared XRP’s steep rise from less than one cent to its all-time high—gaining over 115,000%—with Bitcoin’s growth from about $1 to roughly $126,000.
He attributed these increases to asset inflation within the debt-heavy global financial system, indicating that fundamental demand is often not a prerequisite for significant price appreciation.
Market factors beyond utilityExpanding on his thesis, Vandell emphasized that utility is not the sole driver of asset values in the cryptocurrency market. He listed scarcity, market sentiment, and macroeconomic factors such as dollar inflation as the most important contributors to price dynamics.
He pointed out XRP’s fixed supply and use of escrow arrangements as features that may appeal to investors. These characteristics could maintain upward pressure on the asset’s price, even if practical adoption lags behind expectations.
Although Vandell acknowledged that utility and institutional adoption could support further gains, he maintained that these are not the only relevant drivers for price performance.
Mini dictionary: Escrow mechanism, a structure where a portion of XRP is locked and released over time to help manage supply, intended to prevent flooding the market.
Other members of the XRP community voiced disagreement. Trevor Wells argued that utility is directly linked to token value, challenging Vandell’s comparison with Bitcoin.
Another participant, FlowOverNoise, agreed that speculation can drive prices but noted that since 2017 the crypto market has evolved. This commenter emphasized the increasing relevance of asset tokenization and institutional liquidity needs, suggesting these factors make utility-oriented demand more important.
FlowOverNoise added that should financial institutions need to acquire and hold XRP for liquidity transfer or reserves, demand arising from use cases could become a larger driver for price movement than mere speculation.
This debate underscores the existence of two distinct views within the XRP community. While some believe that speculation, scarcity, and broader economic trends will continue as the main price drivers, others emphasize long-term utility and real-world adoption as crucial for future growth.
Speculation, scarcity, and macroeconomic factors may continue to affect prices for $XRP, but some analysts believe that expanding utility and institutional adoption could have a growing impact over time.
XRP continued to face downward pressure on Thursday, with buyers unable to sustain recent recovery efforts. The token traded around $1.34, staying below several major moving averages and highlighting the market’s cautious tone.
Mixed derivatives and futures signalsFutures market dynamics revealed growing uncertainty among traders. Data from CoinGlass showed XRP’s long-to-short ratio at 0.86 on Thursday, marking its lowest point in over a month and indicating a clear preference for short positions.
A ratio lower than one points to sellers controlling the majority of positions, making the near-term outlook bearish for XRP. Short dominance has become more pronounced in recent days as the price struggled to regain lost ground.
Despite this, the perpetual futures funding rate for XRP turned positive on Monday and edged up to 0.0064% by Thursday. With this positive funding, traders holding long positions pay those on the short side, suggesting some market participants still expect a rebound.
This apparent split between bearish positioning and positive funding reflects uncertainty over whether XRP’s recent dip marks the end of its decline or the start of a deeper correction.
CryptoQuant, a digital asset analytics firm, pointed out large whale orders alongside heavy spot and futures activity in XRP. While substantial orders often signal key interest levels, CryptoQuant observed that sell-side dominance in futures added to a cautious overall sentiment.
The combination of these conflicting signals leaves buyers with little clear evidence of momentum for a sustained move higher.
Mini dictionary: CoinGlass is a cryptocurrency derivatives data and analytics platform widely used by traders to monitor futures and options markets for major coins.
XRP’s positioning across derivatives platforms shows mixed signals, with large whale orders and significant sell-side presence constraining the potential for a robust recovery.
Technical resistance and support levelsShort-term technical charts reinforce the cautious outlook. Both daily and 4-hour timeframes show XRP trading under key resistance levels, particularly the 200-day Exponential Moving Average at $1.374 and the 50-day EMA at $1.375. These indicators create a narrow resistance zone that buyers would need to reclaim before further advances could develop.
Weak technical momentum adds to the challenge. The Relative Strength Index (RSI) stands near 44, below the neutral 50 mark, and the Moving Average Convergence Divergence (MACD) remains marginally negative, indicating that sellers are still active.
If XRP breaks through resistance at $1.374–$1.375, the next upside target would be horizontal resistance at $1.540, with a further obstacle waiting near $1.900 should a broader rally occur.
To the downside, the token continues to find initial support at the 100-day EMA around $1.337. A move below this level could lead the price toward horizontal support at $1.300. Failure to hold $1.300 would threaten the stabilization effort and potentially push XRP toward the recent swing low of $1.25.
LevelTypeValueKey Resistance200-day/50-day EMA$1.374–$1.375Support100-day EMA$1.337Secondary SupportHorizontal$1.300Swing LowRecent Low$1.25For now, XRP remains locked between identified support and resistance, with technicals and derivatives data both suggesting that buyers and sellers have yet to gain clear control of market direction.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Ripple's former Chief Technology Officer David Schwartz posted on X a photo of him unboxing physical Fuzzy Cards boosters in his own kitchen. Schwartz directly thanked the senders, mentioning the official project account.
For market participants, this gesture by the legendary developer became a demonstration of top management's interest in a physical game based on XRP, which until now had not been noticed by a wide circle of traders.
Ripple CTO Emeritus David Schwartz unboxes physical Fuzzy Cards, Source: @JoelKatz / X You Might Also Like
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Earlier in May, Schwartz opened a trustline to the project's native token FUZZY, and the card demonstration took place on the eve of the Ripple Swell 2026 conference in New York, where the community is preparing a parallel event, FuzzyCon.
How a 2014 order turned into a board gameFuzzy Cards is based on a historical precedent: on January 1, 2014, the FuzzyBear wallet placed an order on the XRPL decentralized exchange to swap 1 XRP for 1 BTC. The order remained unfilled, but in early 2025 the community launched the meme token FUZZY as a tribute, which by October 2026 had gathered more than 11,500 holders.
In this context, the Swiss publisher XPUNKS GmbH (Zug), led by Kai Leroy, released the first trading card game within the XRP Ledger. The starter series includes 150 unique cards (Heroes, Relics, Events) across five in-game factions, about 60 of which are produced in holographic format.
Distribution is tied to a hybrid on-chain mechanic: users buy digital packs in NFT format (XLS-20 standard) and irreversibly burn them through a special portal to receive a physical counterpart. After the burn is recorded on the blockchain, the system sends the owner a sealed paper booster of 5 random cards that support professional grading by CGC, PCA, and TAG.
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To date, holders have burned about 100,000 booster packs. According to Leroy's estimate, this process is developing against the backdrop of a bull run, largely unnoticed by the market, in the sector of hybrid Web3 projects, where demand is shifting toward tangible assets.
The high barrier to copying the project is due to long physical production times and the complexity of balancing game mathematics: a 150-card set can generate trillions of combinations, which protects the sector from quick speculative launches.
At the same time, FUZZY remains a volatile meme asset whose price is tied to the XRP market, while the retail distribution program through local board game stores for a commission is still at the rollout stage.
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.
