Market Signal Briefing

Sun, 26/10/2025 - 15:42

Ripple has made five major acquisitions in recent months, financial strategist Versan Aljarrah weighs in on what this means for financial markets and XRP's role in them.

Cover image via U.Today

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 recently announced that its acquisition of Hidden Road was complete, with the company now Ripple Prime. This marks an exciting new chapter for Ripple, making it the first crypto company to own and operate a global, multi-asset prime broker.

This is one of five major acquisitions by Ripple in the past two years, including an announcement to acquire treasury management system provider GTreasury last week, stablecoin-powered payment platform Rail in August 2025, the acquisition of Standard Custody in June 2024 and Metaco in May 2023.

Ripple’s digital asset infrastructure across payments, crypto custody and stablecoin, as well as the use of XRP, will complement the services offered within Ripple Prime. In the future, Ripple Prime will seek to leverage blockchain capabilities in its business to streamline operations and optimize costs. Ripple Prime will also significantly enhance the utility and reach of Ripple’s stablecoin, RLUSD, whose primary reserve custodian is The Bank of New York Mellon Corporation (BNY).

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@Ripple is gradually consolidating the entire digital asset ecosystem.

Every acquisition, corridor, and off-ramp is part of one plan, to build the Internet for Value.

This is how the financial system is being rewritten, and how XRP will eventually touch everything in it.

— Black Swan Capitalist (@VersanAljarrah) October 25, 2025 In reaction to Ripple's latest milestones, Black Swan Capitalist founder Versan Aljarrah believes Ripple is gradually consolidating the entire digital asset ecosystem. He added that every acquisition, corridor and off-ramp is part of one plan, which is to build the Internet for Value. This is "how the financial system is being rewritten, and how XRP will eventually touch everything in it," Aljarrah said.

XRP getting boost from retail FUDAt the time of writing, XRP was up 2.58% in the last 24 hours to $2.64 and down 11.36% weekly, outperforming the rest of the top 10 in daily and weekly gains.

According to Santiment, XRP is getting a boost from retail FUD despite small wallets selling off.

"XRP is at $2.60 after a 4% day. We've seen some retail FUD across social media, indicating small wallets are selling off. During this $2-$3 price stretch, high crowd predictions of $XRP under $2 is a buy signal and above $3 is a sell signal," Santiment wrote.

XRP has extended its recovery from a low of $2.32 on Oct. 22 into the fourth day, reaching an intraday high of $2.66. The next resistance is $2.77, while support lies at $2.32 and $2.18.

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The proposed Batch amendment for the XRP Ledger introduces atomic transaction capabilities. Oct 26, 2025, 3:50 p.m.

A proposed XRP Ledger amendment, Batch (XLS-56), is generating excitement among developers and validators alike.

One pseudonymous XRP validator, Vet, has shared his experience testing the Batch functionality on the dev net, where multiple transactions, including minting and payments for non-fungible tokens (NFTs), can be bundled and executed automatically.

The amendment, according to Vet, enables creation of a fully peer-to-peer NFT-to-NFT trading platform, allowing users to perform a barter-like NFT swaps in a single transaction.

For instance, one could trade five of their NFTs for two NFTS owned by another party, all processed simultaneously to ensure atomicity and security, Vet said on X, suggesting a game-inspired interface, similar to the classic RuneScape, to make this NFT-to-NFT trading more engaging and intuitive for users.

As of writing, the Batch amendment has achieved 68.57% consensus among validators, with 80% required for activation. XRP Ledger (XRPL) is a decentralized, open-source blockchain used by Ripple to build cross border payments solution.

XRP Validator Vet's X post. (X)

What is the Batch amendment?The Batch amendment introduces atomic transaction capabilities to the XRP Ledger, allowing multiple operations to be grouped and executed simultaneously as a single unified transaction.

It takes the all or nothing approach – either all transactions in the group are completed successfully or none are, thereby eliminating the risk of partial execution failures.

This principle of atomicity has its roots in computer science and database management, where a sequence of operations is treated as a single, indivisible unit of work. Therefore, an atomic process means that the entire set of transactions is either fully executed or entirely rolled back to ensure data integrity.

Atomicity on XRP Ledger could be valuable in complex NFT trades or swaps involving multiple steps, facilitating the development of sophisticated NFT marketplaces.

"This new amendment drastically changes the functionality of the XRP Ledger by allowing the grouping and ordering of up to 8 transactions into a single batched operation. It also introduces atomic execution via ALLORNOTHING as one of its execution modes for batched transactions," Teucrium said in a Substack post.

A total of four batch modes are supported: ALLORNOTHING, ONLYONE, UNTILFAILURE, and INDEPENDENT. The availability of four modes will ensure flexibility in how multiple transactions are executed as a group, helping developers choose the best approach for their use case.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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Bitcoin Bid, XRP Retakes 200-Day Average as Fed Rate Cut Looms; 'Mag 7' Earnings, Trump-Xi Summit Eyed

Major cryptocurrencies are trading higher ahead of a busy week featuring key Federal Reserve and Bank of Japan rate decisions alongside earnings reports from influential Mag 7 stocks.

What to know:

Major cryptocurrencies trade higher ahead of an expected Fed rate cut on Wednesday. Powell's comments on the Federal Reserve's quantitative tightening program could prove pivotal. BOJ is likely to keep rates unchanged. Mag 7's AI-related spending and Trump-Xi Summit could add to market volatility.Read full story

Bitcoin has seen modest gains recently, moving towards a significant resistance point that could determine its future trajectory. Currently trading between key moving averages, Bitcoin's price action is hinting at a possible breakout that could pave the way for a new all-time high.

Vitalik Buterin warned that Ethereum’s mathematical security breaks down when users depend on off-chain trust.He explained that while validators can’t forge blocks, they can manipulate external systems like bridges or oracles.His remarks reignited debate among developers about how much control validators should hold within a blockchain.Ethereum co-founder Vitalik Buterin has cautioned that the blockchain’s cryptographic guarantees stop where external trust begins.

On October 26, Buterin explained that even a 51% attack cannot validate an invalid block. This means that even if a majority of validators collude or experience a software bug, they cannot seize users’ funds or forge transactions.

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Buterin Reignites Debate Over a Blockchain ValidatorsThis is because each blockchain node independently verifies new blocks and automatically rejects any that break the protocol’s rules. This decentralized verification protects Ethereum from false ledger entries, even under majority control.

However, Buterin emphasized that this security guarantee only applies to the blockchain’s protocol.

According to him, the moment users rely on validators for tasks outside that framework—such as bridging assets, verifying real-world data, or confirming off-chain events—they enter a zone where trust replaces math.

In that realm, if 51% of validators agree on a false statement, the network itself offers no recourse.

Regular reminder:

A key property of a blockchain is that even a 51% attack *cannot make an invalid block valid*. This means even 51% of validators colluding (or hit by a software bug) cannot steal your assets.

However, this property does not carry over if you start trusting…

— vitalik.eth (@VitalikButerin) October 26, 2025
Buterin’s remarks have reignited debate within the developer community. Many are now questioning how much control validators should hold as blockchains adopt complex features like bridges, oracles, and off-chain attestations.

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Polygon’s Chief Technology Officer, Mudit Gupta, supported the warning.

However, he explained that while validators can’t alter Ethereum’s state, they can “steal money” through maximal extractable value (MEV) or even enforce censorship.

Meanwhile, others disagreed with Buterin’s position.

Seun Lanlege, co-founder of Polkadot’s Hyperbridge, argued that validator influence runs deeper. He warned that a malicious majority could manipulate block propagation or isolate nodes through eclipse attacks.

This exposes a structural vulnerability that extends beyond MEV or censorship.

Adding another perspective, MultiversX core developer Robert Sasu urged teams to minimize reliance on off-chain components altogether.

“Make and move everything onchain. Directly in a decentralised L1,” he stated.

In his view, any reliance on centralized systems like bridges, oracles, or price feeds invites manipulation. True resilience, he argued, comes from designing decentralized, permissionless, and composable systems that minimize trusted intermediaries.

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Global crypto markets saw a flurry of political and corporate developments last week, underscoring how digital assets continue to intertwine with state policy, finance, and tech.

Peruse this week’s edition of the weekly recap for crypto.news’ coverage of who President Trump picked to be the next Commodity Futures Trading Commission’s chair; Kyrgyzstan’s unveiling of a national stablecoin backed by its local currency; SpaceX and Strategy adding to Bitcoin exposure; and Kraken’s aggressive expansion.

Lastly, WazirX and Bunni marked opposite ends of crypto’s risk spectrum — one rebounding from a historic hack, the other shuttering after an exploit.

Summary

Kyrgyzstan launched the KGST stablecoin after talks with Binance founder CZ.
Trump nominated SEC lawyer Mike Selig to lead the Commodity Futures regulator.
Coinbase’s $375M Echo deal and Kraken’s IPO progress highlighted key headlines.

Trump selects SEC lawyer for CFTC leadership

President Donald Trump formally nominated Securities and Exchange Commission lawyer Mike Selig to lead the Commodity Futures Trading Commission, replacing initial pick Brian Quintenz.
White House Crypto Czar David Sacks confirmed the selection early Saturday and validated long-rumored reports that Selig was the administration’s preferred candidate.

Kyrgyzstan debuts national currency stablecoin

President Sadyr Japarov announced the rollout of KGST, a stablecoin pegged 1:1 to the som following discussions including Binance founder Changpeng Zhao.
This launch follows an April agreement between Zhao and Kyrgyzstan’s National Investment Agency, which pledged cooperation on cryptocurrency and blockchain development.

SpaceX executes major Bitcoin transfers

Elon Musk’s space exploration company moved over $133 million in Bitcoin (BTC) and transferred 1,215 BTC to separate addresses, according to Arkham Intelligence.
The transactions included movements of 300 BTC ($33 million) and 915 BTC ($100.7 million) to new wallets.

Tether projects $15 billion annual profit

The stablecoin issuer anticipates net profits approaching $15 billion in 2025.
CEO Paolo Ardoino shared this outlook during an October 24 interview at the Plan B Forum in Lugano, Switzerland.

JPMorgan enables crypto collateral lending

The banking giant plans to permit institutional clients to pledge Bitcoin and Ethereum holdings as loan collateral by year’s end.
The global program will reportedly use third-party custodians to safeguard pledged assets.

Canada imposes record crypto platform fine

Financial intelligence authorities levied a $126 million ($176.9 million Canadian) penalty against Cryptomus for multiple anti-money laundering violations linked to child exploitation, ransomware, and sanctions evasion.
Vancouver-based Xeltox Enterprises Ltd., operating as Cryptomus, failed to file over 1,000 suspicious transaction reports and more than 1,500 large-value crypto transaction reports in July 2024 alone.

Trump pardons former Binance CEO

Trump pardoned Binance founder Changpeng Zhao, the richest man in crypto, who admitted to money-laundering violations that allowed terrorists and other criminals to move money on his platform.
White House spokeswoman Karoline Leavitt stated the pardon showed Trump’s exercise of constitutional authority after prosecution by “the Biden administration in their war on cryptocurrency.”
According to the New York Times, lawyers and lobbyists connected to the Trump administration advised Zhao. Meanwhile, Binance has business dealings with World Liberty Financial, the Trump family’s crypto firm.

WazirX resumes operations after major hack

The Indian cryptocurrency exchange will restart trading Oct. 24 with zero fees across all markets.
This is nearly one year after hackers stole $234 million in one of crypto’s largest cyberattacks.
Singapore court approval of the restructuring plan, backed by 95.7% of creditors, allowed reopening for 6.6 million users locked out since the July 2024 North Korea-linked attack.

Bunni shuts down following exploit

The decentralized exchange announced Wednesday that it is ceasing operations due to financial constraints, following an $8.4 million security breach.
Platform developers stated insufficient resources exist for secure relaunch, with necessary audit and monitoring expenses requiring six to seven figures in capital they lack.

Kraken revenue doubles ahead of IPO

The cryptocurrency exchange generated $648 million in third-quarter revenue and represents 114% growth from the previous year’s corresponding period.
This revenue calculation shows gross income under GAAP accounting minus trading costs as the company prepares for an anticipated 2026 public listing.

Coinbase acquires fundraising platform

The exchange purchased Echo, an on-chain fundraising platform, for approximately $375 million.
Coinbase stated the deal addresses challenges where “founders often struggle to raise capital and individual investors don’t have the opportunity to invest in private token sales.”

Strategy continues Bitcoin accumulation

The corporate Bitcoin holder purchased 168 BTC at an average price of $112,051, bringing total holdings to 640,418 BTC valued at $71 billion.
The company’s overall average acquisition price stands at approximately $74,010 per Bitcoin across all purchases.

In a remarkable turn of events, Bitcoin's value has surged past $113,000 on Sunday, reflecting a significant upswing prompted by potential developments in US-China trade relations. This price movement marks the first time since Tuesday that Bitcoin has reached such heights, following hints from US Treasury Secretary Bessent that China may be open to a trade agreement eliminating the 100% tariffs previously proposed by the US.

Teucrium CEO: 'Enormous Interest' in XRP, 'Extraordinary’ Success for Firm's XRP ETFSal Gilbertie says hundreds of millions of dollars arrived in about 16 weeks, credits the XRP Army for fast traction and forecasts a broad crypto ETF wave. Oct 26, 2025, 1:11 p.m.

Investor demand for XRP is “enormous,” Teucrium Trading President and CEO Sal Gilbertie said during an interview on CNBC's "ETF Edge," crediting the “XRP Army” for rapid traction and calling the fund his firm’s most successful launch to date.

Gilbertie said inflows reached “hundreds of millions” in roughly 16 weeks and described the response as “extraordinary.” While he’s an XRP enthusiast, he argued the bigger opportunity for investors may be backing companies that adopt blockchain rather than trying to guess the next winning coin, likening today’s backdrop to the internet’s build-out in the 1990s. Asked whether an ETF boom is coming across the crypto ecosystem, he answered there is “no question.”

Teucrium 2x Long Daily XRP ETF (XXRP), launched on April 8, 2025 and listed on NYSE Arca, is designed to deliver twice the token’s daily move without holding XRP directly. According to fund materials, the strategy primarily uses total return swaps with major financial institutions and may employ cash-settled XRP futures to reach its 2x daily objective before fees and expenses. The design is explicitly daily and not intended to achieve its stated multiple over multi-day periods.

Fund disclosures caution that compounding and volatility can cause multi-day returns to differ — sometimes sharply — from 2x XRP, and the product can lose money even when XRP is flat or rising over longer spans; additional risks include leverage, tracking and correlation slippage, counterparty exposure on swaps, liquidity factors, and typical ETF trading frictions such as premiums, discounts and wider bid-ask spreads.

According to CoinDesk Data, at 12:55 p.m. London time on Oct. 26, 2025, XRP traded at $2.64, up 2.2% over 24 hours and 26% year to date (YTD). Per data from Yahoo Finance, Teucrium 2x Long Daily XRP ETF (XXRP) finished Friday’s regular session at $22.90, up 7.06% on the day, and down 15.03% YTD.

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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Bitcoin Tops $113K, SOL, ADA, ETH Jump as US–China Trade Progress Lifts Risk Appetite

That risk sentiment across global markets. US and Asian equity futures advanced, and gold pulled back slightly from recent highs as traders rotated back into risk assets.

What to know:

Bitcoin surged above $113,000, its highest in nearly two weeks, amid progress in US-China trade talks.Top negotiators reached a preliminary consensus on key issues, easing fears of new tariffs.The broader crypto market cap rose 1.8% as traders welcomed relief from geopolitical tensions.Read full story

Sun, 26/10/2025 - 13:30

Bitcoin at $100,000 and gold at $4,000 sounds like headlines, but Bloomberg's Mike McGlone says they are just signals of what's next — and the surprise contender is U.S. Treasuries.

Cover image via www.freepik.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.

Bloomberg Intelligence strategist Mike McGlone continues his series of analyzing the emerging tendencies in financial markets with a fresh prediction of what may come after Bitcoin at $100,000 and gold at $4,000.

According to him, these milestones do not indicate the end of the cycle but a signal that capital could rotate toward U.S. Treasury bonds after years of weakness dictated by high Fed rates and QT policy.

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Bitcoin’s ascent to six figures in 2024 was followed by gold’s run through $2,500 and up toward $4,000 per ounce. McGlone says this symmetry reflects how assets take turns driving market attention.

In his view, gold’s push to $4,000 may set the stage for bonds to recover, positioning U.S. Treasuries as the next winner while speculative trades begin to cool off.

Source: Mike McGloneHis commodity breakdown underscores the same pattern. Gold’s upside case still points to $5,000, but he warns that a pullback to $3,000 cannot be ruled out if equities reverse, so it is rather a limbo situation.

Next pivot?McGlone has earned himself McDoom and McGrim nicknames in the crypto circles due to his conservative views on the digital asset market, but his newest message is clear: Bitcoin’s parabolic run and gold’s surge both show stretched conditions. Prices are at peaks, not floors, and the next shift may redirect money flow into the most overlooked but stable asset — U.S. government debt.

Bonds, after years of selling, could emerge as the main beneficiary once the speculative momentum in crypto and metals loses steam.

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XRP is above BNB after a substantial weekly surge.

Ripple finally closed the Hidden Road deal, which became big news at the end of the week as the prime broker now goes under a different name.

This and more interesting news from the past week or so will be detailed in the following article.

Hidden Road and Other Big Ripple Deals
Although the Hidden Road purchase, worth $1.25 billion, was initially announced in April, the actual conclusion was highlighted on Friday. In a statement on X, the Brad Garlinghouse-led company noted that the brokerage platform will now be known as Ripple Prime.

This means that the company is now the first in the crypto industry to “own and operate a global, multi-asset prime broker – bringing the promise of digital assets to institutional customers at scale.”

Teuncrium’s CEO weighed in on the matter, indicating that Ripple is “building the new Wall Street with XRP and Hidden Road.”

Garlinghouse took it to X to highlight the company’s five big moves since 2023. Despite the ongoing pressure from the SEC lawsuit at the time, Ripple made two significant purchases in 2023 and 2024: namely, the acquisitions of Metaco (a Swiss-based crypto custody provider) and Standard Custody & Trust Company, an enterprise-grade, regulated platform for cryptocurrencies.

2025 became an even more impactful year for Ripple as, aside from Hidden Road, it also announced deals to acquire Rail for $200 million and GTreasury for $1 billion.

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Ripple’s XRP Breaks 2-Week High: Here’s Santiment’s Ideal Buy and Sell Timing

Here Are Ripple’s 5 Big Moves Since 2023 and What They Mean for XRP

Ripple-Backed Evernorth Raises Over $1 Billion for Institutional XRP Exposure

Additionally, Evennorth Holdings, a newly formed Nevada corporation, launched and entered a business combination agreement with Armada Acquisition Corp II to enable institutional adoption of Ripple’s XRP.

XRP Back to 4th
In line with the aforementioned announcements from Ripple, the project’s native token is about to close with a substantial 11.5% weekly surge that has driven its price to a multi-week peak of $2.65. This has helped its market cap soar to almost $159 billion, which makes XRP the fourth-largest cryptocurrency by surpassing BNB.

What’s particularly interesting about this price surge is that it comes at a time when whales have been seemingly taking profits off the table with sizeable sell-offs. In contrast, the popular meme coin and futures trader going by the X handle James Wynn said he was joining the XRP Army with a significant investment. Wynn noted that he went “down the rabbit hole of XRP” and determined it could “revolutionize the banking systems.”

Popular analyst Ali Martinez picked up today’s price move from XRP and outlined the next critical resistance on its way toward $3.00. He also brought up the first line of defense in case this rally is another fakeout.

Two key levels for $XRP:

– Support at $2.15

– Resistance at $2.80 pic.twitter.com/HbfNSNGZFs

— Ali (@ali_charts) October 26, 2025

Key Takeaways
Why is Bitcoin under pressure?
Bitcoin’s Illiquid Supply dropped by about 62,000 BTC in October as long-held coins moved into circulation.

What could support BTC’s price near term?
30-Day Whale Inflows/Outflows showed a 16,300 BTC net accumulation, suggesting whales are quietly absorbing supply despite weaker demand elsewhere.

Bitcoin [BTC] continued to hover around the $111,000 level. Although it closed above this mark for the third consecutive session, selling pressure has kept upside momentum limited.

Market data suggested that an expanding circulating supply and weakening demand continued to weigh on sentiment and near-term price strength.

Illiquid supply weakens Bitcoin’s stamina
There has been a sharp decline in the amount of Bitcoin’s Illiquid Supply circulating in the market. Illiquid Bitcoin refers to coins that have remained unmoved in inactive long-term private wallets.

Since mid-October, this decline has become more pronounced, coinciding with a drop in the broader crypto market capitalization to around $3.45 trillion.

In fact, the metric slipped to 14.303 million BTC on the 23rd of October from 14.38 million earlier in October.

During this period, roughly 62,000 BTC—worth an estimated $6.8 billion—was added back into the market.

Source: Glassnode

Historically, such inflows have triggered price declines on multiple occasions. In January 2024, for instance, a 400,000 BTC increase in illiquid supply produced a similar weakening effect on Bitcoin’s price momentum.

Mid-size wallets drive selling pressure
The sharp rise in liquidity from previously Illiquid Supply was only one of several factors affecting Bitcoin’s bullish structure.

Glassnode data showed that addresses holding between 0.1 and 100 BTC—valued at roughly $10,000 to $7 million—added significant selling pressure to the market.

This selling behavior has remained a consistent trend among this group of investors for about a year.

Source: Glassnode

Buying momentum also slipped. First-time buyer supply contracted toward ~213,000 BTC, signaling lighter new participation.

Additionally, momentum buyers—who typically drive short-term rallies—exited the market, according to chart details.

This suggested that while buyers were retreating, sellers continued to exert pressure, contributing to the broader stagnation in market activity.

Can whales hold the line?
Despite the market thinning out, Bitcoin whale wallets have continued to accumulate the asset. This accumulation trend has persisted even during the market decline throughout October.

In the past 30 days, total whale holdings have risen notably, reflecting a degree of confidence among large holders. However, their overall position in the market remains relatively small—totaling around 16,300 BTC.

Source: Glassnode

When compared to the large volume of Bitcoin re-entering circulation from illiquid wallets, alongside the persistent selling pressure from investors holding between 0.1 and 100 BTC, it appears that downward pressure could remain dominant in the near term.

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Following its blistering performance in the first week of October, the Bitcoin price action has been pretty much tame all month. In fact, the premier cryptocurrency has witnessed moments of bearish action in what is widely regarded as the historically bullish month of “Uptober.”

With the substantial downward pressure in recent weeks, the Bitcoin price looks set to close the month in the red. However, a recent evaluation shows that the market leader might be gearing up for its next major price move in the coming week.

In a recent video on YouTube, crypto analyst Maartunn shared an exciting hypothesis around the Bitcoin price, saying that the coin could make its next big move in the coming week. This evaluation is based on the Bitcoin Crash Price Trace, which monitors BTC’s behavior after a major price downturn.

According to Maartunn’s analysis, the Bitcoin price tends to enter a period of consolidation or sideways movement after a sharp crash for about two to four weeks, before making its next major move. This has been the case for the flagship cryptocurrency since it fell more than 16% on October 10. 

Maartunn noted that the market leader is currently 14 days into this consolidation phase, meaning that the next move could come anytime from now. 

Source: @JA_Maartunn on X
The analyst went further to provide clues in the data, highlighting that market volatility is shrinking for the premier cryptocurrency. Maartunn believes that this decline in volatility signals that investors are waiting on the sidelines for the next significant price move.

As of this writing, Bitcoin is valued at around $111,690, reflecting a mere 0.6% jump in the past 24 hours.

Level To Watch For The Next Move
Maartunn went further by revealing $112,500 as a critical level to watch in case the Bitcoin price makes its next major move. This price level is the short-term holders’ (STHs) realized price, which often acts as a dynamic support and resistance level.

Typically, with BTC’s value beneath this STH realized price, it means that the most reactive set of Bitcoin investors is in the red. These short-term investors are likely going to offload their assets at breakeven price—when the Bitcoin price returns to their cost basis.

Ultimately, this sell-off would put downward pressure on Bitcoin’s price, making the STH realized price (currently at $112,500) a significant resistance level.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView

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Opeyemi Sule is a passionate crypto enthusiast, a proficient content writer, and a journalist at Bitcoinist. Opeyemi creates unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi enjoys reading poetry, chatting about politics, and listening to music, in addition to his strong interest in cryptocurrency.

Welcome to Slate Sunday, CryptoSlate’s weekly feature showcasing in-depth interviews, expert analysis, and thought-provoking op-eds that go beyond the headlines to explore the ideas and voices shaping the future of crypto.

Jeff Booth has been warning the world about how technology and debt don’t mix for over a decade. The Vancouver-born entrepreneur and author of The Price of Tomorrow: Why Deflation is Key to an Abundant Future says the financial system we live under is one giant illusion. It’s a construct that prevents the natural process of progress and innovation from benefiting everyone equally.

“The natural state of the free market is deflation,” Booth reminds me early in our conversation.

“When we compete to provide value to other people, we’re forced to keep providing more for less. And if you use technology, you’d expect the prices to fall really fast. That can’t happen through a debt-based system; they’re opposite systems. A debt-based system must expand forever.”

Booth, who led the tech company BuildDirect for nearly two decades and now runs venture firm Ego Death Capital, was named among Goldman Sachs’ 100 Most Intriguing Entrepreneurs.

He has spent the past several years speaking and investing around one central idea: the future doesn’t have to be dystopian. But to make it hopeful, we must choose different incentives.

The illusion of stabilityGlobal economic data paints an increasingly unstable picture. The U.S. unemployment rate has ticked up to 4.1%, corporate bankruptcies are at their highest since 2020, and credit card delinquencies have surged past pre-pandemic levels. Meanwhile, real wages have stagnated against a backdrop of record debt: global borrowing surpassed $337 trillion this year, according to the Institute of International Finance.

And yet, prices keep rising. The cost of living in both the U.S. and Europe has forced millions of households to rely on short-term credit. In Booth’s framework, that outcome is baked into the system itself. He says:

“When you go to a bank, the bank doesn’t have the money; it’s lent into existence, and then you pay an interest rate on that debt. So it sets up a system whereby the money has to grow forever. It has to be manipulated forever… If deflation happens from a debt-based system and prices fall, then the debt resets and everything built on that debt collapses.”

We’ve never lived in a true free market, Booth argues, only in various forms of controlled economies dressed in different ideologies.

“Communism, capitalism, socialism, they’re all control constructs… We’ve never actually seen a free market.”

Bitcoin fixes thisFor Booth, Bitcoin represents the first true global free market, one that can’t be manipulated. He reasons:

“If you had an open, permissionless, decentralized, secure protocol bounded by energy that couldn’t be changed by governments, then it would perfectly describe the first free market that has ever existed.”

In his words, Bitcoin “reprices the entire world” because it operates outside a system of debt and compounding credit. All global assets are steadily losing ground to Bitcoin’s scarcity-driven, deflationary model, and real estate is a prime example. While house prices may be rising in fiat terms, they’re becoming vastly cheaper in BTC.

“If my house five years ago was 300 Bitcoin and today it’s 12 Bitcoin, prices are falling forever in Bitcoin terms. It’s not that my house went up in value; it’s that the currency it’s priced in went down.”

That perspective shift explains why Booth tells people not just to buy Bitcoin, but to move their time into it. And what does he say to people who believe it’s too late to start stacking sats? To the contrary, “We’re insanely early,” he smiles.

“Learn Bitcoin and really understand it. Then buy it, spend in it, and move your time to it. You’ll see a reflection of the world you want to see, rather than contributing to the world you’re scared of.”

It’s a worldview that’s counterintuitive in a time defined by anxiety.

Fear and systems of controlBooth believes our collective fear, whether of inflation, artificial intelligence, or geopolitical conflict, is a symptom of being trapped in a rigged game. It’s in the interest of those in power to create a cycle of constant uncertainty and fear.

“The only reason monopolies can exist is through a control system. And monopolies favor regulation. Who wins from having people scared of AI? It’s the big AI companies, because now prices can’t be allowed to fall to their minimal cost of production.”

In a truly competitive market, prices naturally drop until they match the cost to actually make the goods (the minimal cost of production). Anyone who wants to charge more will quickly be undercut until prices settle as low as they can go without producers losing money.

The cost of creating another line of code is zero, Booth remarks, so when AI becomes free, when its cost falls to zero, its abundance flows to all people (if governments can’t manipulate the money).

Under a Bitcoin standard, he argues, technological deflation would finally benefit society rather than a few monopolistic gatekeepers.

“AI, robotics, Bitcoin, they are a perfect symbiosis. They accelerate each other. In that world, you get richer and richer, even if you do nothing.”

The paradox, of course, is that while economic anxiety grows, Booth is radiant with positivity. He laughs:

“I’m crazy optimistic. I’m living in the optimism of builders who are doing this every day, and when you’re in that every day and you’re seeing it expand at the rate it’s expanding, it’s hard not to be extraordinarily optimistic.”

The choice to actBooth’s core message is one of agency. He insists individuals have more power than they realize.

“You personally have agency. Run a node. Spend in it [Bitcoin]. You don’t have to wait for anyone or ask for permission. You can just go.”

In a world where individual freedoms are diminishing by the day, I ask how he feels about the inevitable creep of digital IDs like the one proposed by the UK or Europe’s CBDC. He points to emerging technologies like Nostr, the decentralized social protocol, and Fedi, a privacy-preserving platform that allows anyone to launch their own digital federation.

“That’s why I’m not on Twitter anymore. I’m on Nostr. It can’t be blocked. My voice cannot be turned off on Nostr… And Fedi can’t be blocked. It’s being used in many authoritarian countries because it’s a life-saving technology. And it’s already available.”

Ego Death Capital invested in Fedi three and a half years ago, knowing that everyone would fall into a “trap of a centralized system,” and this technology had to exist before that happened.

The ego deathThe name of his venture firm, Ego Death Capital, reveals much about his philosophy.

“It just seemed to fit what I think Bitcoin is going to do to everybody in time… There’s one rule in Bitcoin: don’t try to cheat it, because you’ll cheat yourself.”

Booth’s own journey toward this understanding was not immediate. And when he realized that all of his work was in the fiat world, even after understanding the virtues of Bitcoin, he felt like a hypocrite.

“I realized 90% of my time was in the system I was making worse. Ego Death Capital was created to solve that paradox for me, so I could move my time into the system I said I wanted.”

He encourages others, entrepreneurs, creators, and educators, to do the same:

“Everybody’s trapped in pain and fear, scrolling on Twitter. But every problem in that system is an opportunity to solve pain for people in the new one. You can create extraordinary wealth by providing value. That’s the free market.”

The abundance aheadBooth’s thesis that technology-driven deflation should be embraced, not feared, has never felt more relevant, nor hopeful. According to the International Labour Organization, global youth unemployment is nearly 13%, and Goldman Sachs warns that automation could displace 300 million full-time jobs by 2030. Yet Booth sees abundance on the other side of that transformation.

“The same AI that people think might destroy us will actually make life unimaginably abundant. If prices fall faster than wages, everyone gets richer. But that can only happen in a system you can’t manipulate; a free market.”

When I ask Booth if he thinks we’ll live to see the world he envisions, if it will really happen in our lifetimes, his answer is instantaneous. He beams:

“I already see it. It’s the world I live in. It’s like that William Gibson quote: “The future is already here. It’s just not widely distributed.” You can live in this world tomorrow. It’s just a choice. The more you do it, the more it will reflect back at you.”

Dogecoin has taken a steep tumble over the past few weeks, losing 36% since its September highs. At the time of writing, the popular cryptocurrency trades around $0.1981, down from $0.3066.

Ethereum price prediction: ETH steadies near $3,984 as a symmetrical triangle hints at a $4,300 breakout — traders brace for volatility ahead.

XRP is gearing up for its final expansion phase this cycle, with the possibility of an imminent surge toward the $7 target.

Brian Njuguna2 min read

26 October 2025, 11:27 AM

Source: ShutterstockXRP’s Target Stands at $7–$15 as Final Expansion Phase ApproachesMarket analyst Mikybull Crypto says XRP is entering its final expansion phase, a historically explosive stage where major assets complete long-term technical structures. With momentum building and the wider crypto market heating up, bullish expectations for XRP are surging.

Source: Mikybull CryptoAccording to Mikybull Crypto’s analysis, XRP is currently consolidating beneath what he identifies as a key resistance “red band,” a zone aligning with the $7 price target. This level has been highlighted as a pivotal breakout zone, one that could trigger steep upward continuation if reclaimed with strong volume. 

The analyst suggests that surpassing $7 would likely signal the start of this final expansion leg, opening the door for an extended rally toward $11 to $15.

These targets are derived from macro technical patterns forming over multiple years, including XRP’s compressed structure and repeatable breakout cycles. 

Historically, long periods of accumulation and contraction in momentum have preceded rapid market repricings for the asset, a trend many traders believe is repeating now.

The bullish narrative is also supported by rising institutional exposure tied to Ripple’s enterprise-level developments. 

As more financial players explore digital asset integrations, XRP’s role as a liquidity and settlement token continues to expand. This evolving utility may reinforce support for the asset during any major price discovery phase.

What is expected? Well, market sentiment around XRP is strengthening as capital rotates back into assets still far below prior all-time highs. Traders increasingly view XRP as a high-upside play, and analyst Mikybull Crypto warns the coming weeks could be decisive, potentially confirming whether XRP is on the verge of its most aggressive growth phase of the cycle.

Still, the road higher won’t be perfectly smooth because XRP must defend key support and deliver a clean breakout above $7 to validate this bullish setup. Falling short of that level could invite fresh profit-taking and stall the anticipated expansion with price presently trading at $2.62.

ConclusionXRP is approaching a critical inflection point. Analysts say a decisive break above the $7 “red-band” resistance could trigger its long-awaited final expansion phase, accelerating price discovery toward $11–$15. 

Despite inherent volatility, strengthening institutional demand, reviving market sentiment, and historically bullish cycle patterns all point to XRP’s most powerful upside potential still ahead.

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Brian Njuguna

Brian Njuguna is a seasoned crypto journalist at Coinpaper, specializing in blockchain innovation, market trends, and regulatory developments. With a background in economics and years of experience covering the digital asset space, Brian delivers sharp, data-driven insights that cut through the hype. His reporting bridges global crypto narratives with emerging market perspectives, making complex topics accessible to a wide audience.

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Latest Cryptocurrencies News TodayXRP (Ripple) News

With the role Ethereum plays in the crypto market, it could be one of the top performers over the rest of the decade.

Ethereum (ETH +2.78%) is the second-largest cryptocurrency, with a market cap of about $480 billion (as of Oct. 21). Even though cryptocurrencies that explode tend to be smaller coins, Ethereum made a big jump this year, going from under $1,400 in April to nearly $5,000 in August.

It has pulled back 22% since then as the entire crypto market has been in a slump. But long term, Ethereum could be one of the top cryptocurrency investments. Here's the biggest tailwind in its favor.

Image source: Getty Images.

Decentralized finance is growing, and it's happening on Ethereum
One of the most compelling uses for blockchain technology is as an alternative to the traditional financial system. Developers can use smart contracts, which are programs built on a blockchain, to create a variety of decentralized financial services. These are known as decentralized finance (DeFi). Here are a few examples of what's possible:

Stablecoins that follow the value of other assets, such as the U.S. dollar or gold
Lending platforms where users can get cryptocurrency loans or deposit their own cryptocurrency to earn interest
Savings protocols that pay interest on cryptocurrency deposits
Crypto tokens that represent ownership of real-world assets (RWAs), such as stocks or U.S. Treasuries

DeFi has been growing quickly and gaining mainstream acceptance in 2025. The U.S. passed the Genius Act, which regulates stablecoins, in July, and the stablecoin market has grown from $205 billion at the start of the year to $308 billion now. Over that same period, the value of tokenized RWAs went from $16 billion to $34 billion.

Stablecoins, tokenized RWAs, and other DeFi services all need a blockchain platform to operate on. While there are many smart-contract blockchains that can fill this role, Ethereum is the most popular choice, and it's not a close race.

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The total value locked (TVL) into DeFi applications is $151 billion, according to DefiLlama. Nearly two-thirds (63%) of that, some $86 billion, is on Ethereum. Ethereum also has 54% of the stablecoin market. As the first blockchain with smart contract capabilities, and the largest, Ethereum has built a massive lead on the competition.

Future growth projections
Expectations are high for DeFi. Fortune Business Insights forecasts that the market will grow by 27% annually through 2032. British bank Standard Chartered has projected that the stablecoin market will be worth $2 trillion by 2028.

Cryptocurrency is unpredictable, and it's certainly possible that these predictions will turn out to be overly optimistic. That said, DeFi is an exciting development that seems to be gaining traction. More money is going into DeFi applications, and some of the top financial companies have launched their own stablecoin projects, including JPMorgan Chase and PayPal. For those stablecoin projects, JPMorgan Chase and PayPal both chose Ethereum.

Ethereum will continue to have its ups and downs, and it's a high-risk asset. That said, I think its dominance in DeFi makes it one of the best cryptocurrencies to own. As always, keep your own risk tolerance in mind.

JPMorgan Chase is an advertising partner of Motley Fool Money. Lyle Daly has positions in Ethereum. The Motley Fool has positions in and recommends Ethereum, JPMorgan Chase, and PayPal. The Motley Fool recommends Standard Chartered Plc and recommends the following options: long January 2027 $42.50 calls on PayPal and short December 2025 $75 calls on PayPal. The Motley Fool has a disclosure policy.

Bitcoin Shines as a 'Liquidity Barometer,' Not an Inflation Hedge, NYDIG SaysGold, traditionally seen as an inflation hedge, also shows inconsistent and often negative correlations with inflation, the data shows. Oct 26, 2025, 12:00 p.m.

Bitcoin BTC$113,484.09 has long been described as “digital gold”, and, like the precious metal, is often pitched as a hedge against inflation. But new data from NYDIG suggests that the narrative doesn’t hold up.

In its weekly digest, NYDIG’s Global Head of Research Greg Cipolaro found that inflation isn’t a reliable factor driving bitcoin’s price. Monthly correlation data shows that bitcoin’s relationship to inflation is both inconsistent and weak.

“We know the community likes to pitch bitcoin as an inflation hedge, but unfortunately, here, the data is just not strongly supportive of that argument,” Cipolaro wrote. “The correlations with inflationary measures are neither consistent nor are they extremely high.”

Gold, the traditional inflation hedge, doesn’t fare much better. Its correlations with inflation have often been negative and fluctuate from one period to the next.

This challenges the conventional view that rising inflation automatically boosts gold prices, with Cipolaro himself writing that it’s surprising that for gold, inflationary measures are inversely correlated.

So what moves bitcoin and gold? Real interest rates and money supply.

For gold, falling real interest rates, those adjusted for inflation, have long signaled price gains. Bitcoin, although relatively new to financial markets, is now exhibiting a similar pattern.

Cipolano found bitcoin’s inverse relationship with real rates has strengthened in recent years, likely a result of its growing integration into the broader financial system.

The takeaway, according to NYDIG: investors should stop thinking of bitcoin as an inflation hedge.

Instead, it behaves more like a measure of global liquidity, moving in response to interest rates and the flow of capital, not the cost of groceries or gasoline.

“If we were to summarize how to think about each asset from a macro factor perspective, it is that gold serves as a real-rate hedge, whereas bitcoin has evolved into a liquidity barometer,” Cipolaro concluded.

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REX-Osprey XRP ETF (XRPR) Surpasses $100M in Assets Under Management

The ETF has managed this milestone in just over five weeks.

What to know:

The REX-Osprey XRP ETF (XRPR) reached $100 million in AUM just one month after its September launch, offering exposure to the price of XRP.In Brazil, the Hashdex Nasdaq XRP (XRPH11) has accumulated around $52 million in assets.Institutional activity around XRP is rising, with CME Group reporting high trading volumes for XRP futures and options, and Evernorth committing to hold XRP as a core reserve asset.Read full story

The altcoin market has just experienced a massive shakeup, losing roughly $800 billion in value as traders worldwide refocus on Bitcoin (BTC) and crypto-related stocks. The exodus of capital from altcoins underscores a growing divide between retail investors and institutional players, highlighting a structural shift in market behavior.

Cover image via U.Today

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 recent entry of two high-leverage long positions totaling $29 million by a major whale address 0xC50a indicates that market confidence is increasing despite persistent volatility. At an entry price of $111,658, the whale initiated a 40x long on 149 BTC, which is worth $16.65 million, and a 10x long on 284,501 HYPE tokens, which are worth $12.49 million.

What's up with Bitcoin?The price of Bitcoin is currently trading close to $111,800, which is just above the whale's entry point. This move coincides with a weak but improving price structure. The position is currently slightly negative (-$14,600 unrealized PnL), but the aggressive leverage indicates that 0xC50a anticipates a short-term breakout above $112,000-$114,000, a resistance zone that is home to a large number of short liquidations. The 200-day moving average or black line has served as a powerful dynamic support for multiple sessions, and Bitcoin is still holding steady above it on the daily chart at $108,200.

BTC/USDT Chart by TradingViewFollowing the steep correction earlier this month, the recovery from that level indicates a resurgence of buyer interest. There is still potential for a more robust upward push before Bitcoin becomes overbought, according to the RSI at 48, which indicates neutral momentum. At approximately $112,400 and $114,100, the 50-day and 100-day moving averages continue to be significant short-term obstacles.

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Foundation behind rallyA close above these lines might start a quick rally toward the $118,000-$120,000 range, which has historically caused significant profit-taking. With the size of the whale's position and exposure to leverage, even a slight change in price could result in significant liquidations. The trade is structurally safe unless there is a significant macro shock as the liquidation price for the Bitcoin long is set close to $53,000.

The fact that this move was made at a time when the market was consolidating indicates that smart money is getting ready for an increase in volatility. The next few sessions may signal the beginning of a new recovery leg if Bitcoin keeps up its momentum above $110,000 with whale activity serving as a leading indicator of rekindled market confidence.

The global cryptocurrency market climbed on Saturday after the United States and China reached an early framework agreement on trade issues. The announcement followed what officials described as “successful” talks, lifting the total crypto market cap to $3.83 trillion, up 1.77% in the last 24 hours.

The breakthrough came during President Donald Trump’s first Asian tour of his second term. He signed a trade deal and a critical minerals pact with Malaysia, while also overseeing a peace declaration between Thailand and Cambodia. Meanwhile, China agreed to delay rare earth export controls by one year and is reportedly ready to move toward a formal trade deal that would remove Trump’s 100% tariff threat.

U.S. President Trump has begun his first Asian tour of his second term, with the US and China reaching a trade framework ahead of the Trump-Xi meeting. Trump signed a trade deal and a critical minerals pact with Malaysia, while also overseeing a peace declaration between Thailand… pic.twitter.com/tiVXtfMOqz

— Wu Blockchain (@WuBlockchain) October 26, 2025 Economists say the decision has eased one of the biggest global supply chain risks, giving financial markets a clearer path heading into year-end.

Bitcoin Holds Strong Above $113,000Bitcoin (BTC) traded near $113,367, up 1.59% over the past 24 hours. Market volume remained relatively low at $23 billion, which analysts view as typical ahead of the FOMC meeting scheduled for next week.

Despite quieter weekend trading, Bitcoin continues to show strength above key support levels. The asset has reclaimed its value area low from July, signaling that buyers remain in control. Analysts expect a temporary dip below $110,000 before a move toward $114,000 and possibly $116,000–$117,000 if momentum stays intact.

Ethereum (ETH) rose to $4,049, up 2.7% over the past day and XRP maintained its recent momentum, jumping to $2.64 after an 11% gain this week. Other leading tokens also advanced. BNB traded at $1,134, Solana (SOL) climbed to $197.70, Cardano (ADA) reached $0.67, and Dogecoin (DOGE) rose to $0.20.

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

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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The first U.S. exchange-traded fund offering spot exposure to XRP has crossed $100 million in assets under management.

According to issuer REX Osprey, the REX-Osprey XRP ETF (ticker: XRPR) reached the threshold barely a month after its launch on September 18. The fund gives investors direct exposure to XRP, now the fourth-largest cryptocurrency by market capitalization.

The U.S. Securities and Exchange Commission (SEC) has postponed decisions on at least six other spot XRP ETF applications due to a recent government shutdown. That delay has effectively made XRPR the benchmark for gauging American market appetite for the token.

A Tale of Two Markets

While XRPR continues to attract strong inflows, Brazil’s Hashdex NASDAQ XRP ETF, which launched earlier,  holds about 282 million Brazilian reals, roughly $52 million in assets. The contrast shows how quickly U.S. markets have embraced regulated XRP exposure once available.

Market analysts say the ETF’s success shows a mix of rising confidence in digital assets and the growing desire for regulated onramps. Many investors prefer ETFs over direct holdings for compliance and custody reasons, particularly when navigating complex U.S. tax and securities rules.

Institutional Activity Expands

Beyond ETFs, institutional activity around XRP is accelerating. CME Group recently expanded its XRP offerings by introducing XRP options, following the strong performance of its XRP futures market. Since launching in May, CME has reported over 567,000 XRP futures contracts traded, representing $26.9 billion in notional volume.

Corporates Join the XRP Play

The corporate side of the market is also shifting. Evernorth, a new treasury and liquidity management firm preparing for a NASDAQ listing, recently announced plans to hold XRP as a core reserve asset. The decision reflects a broader institutional move toward diversification across digital currencies that can support cross-border payments and liquidity management.

Broader crypto sentiment remains firm. The crypto market is quietly climbing again. Total value now sits around $3.84 trillion, up about 2% in a day. Bitcoin ($BTC) is trading near $113,000, while Ethereum ($ETH) has crossed $4,000. XRP ($XRP) is showing some strength at $2.64, up more than 11% this week.

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

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

The cryptocurrency market continues to face turbulence, and XRP has been at the center of attention this month. Fox Business senior correspondent Charles Gasparino has publicly questioned the coin's sharp 15% monthly decline compared to Bitcoin's modest 1% drop, sparking discussions about altcoin behavior and investor sentiment.

3 mins mins

Key Insights:

Hong Kong approves Asia’s first Solana ETF, launching October 27 with 0.99% fee.
Russia and Kyrgyzstan take steps to integrate crypto in national finance and trade.
Thai and Singaporean regulators increase scrutiny on crypto projects and private wealth firms.

SOL ETF, Crypto PM, and Russian Reforms,Asia’s Bold Crypto Week
The Hong Kong Securities and Futures Commission (SFC) has approved the first Solana (SOL) spot ETF in the region. Issued by ChinaAMC (Hong Kong), the fund will begin trading on the Hong Kong Stock Exchange (HKEX) on October 27 under the ticker 03460, with a 1% management fee.

This is the third crypto spot ETF approved in Hong Kong, following Bitcoin and Ethereum. It is also the first SOL spot ETF in Asia, offering new access to institutional investors tracking Solana’s market performance.

Kyrgyzstan and Russia Expand Crypto Use
Kyrgyzstan is preparing to issue a national stablecoin on the BNB Chain, according to a post by Binance founder CZ. The project includes plans for a government-linked CBDC, a national crypto reserve that includes BNB, and localized support for Binance’s platform.

In Russia, Finance Minister Anton Siluanov confirmed an agreement with the Central Bank to support crypto use in foreign trade. The Ministry is working on legislative steps to formalize the process. Siluanov said, “Crypto assets play a role in cross-border payments and transfers.”

Enforcement Actions Across Southeast Asia
In Thailand, regulators are investigating World, a digital ID platform formerly known as Worldcoin. Officials from the Securities and Exchange Commission and Cyber Crime Bureau accused the company of operating without a license. World responded by stating, “We only distribute tokens where local laws permit.”

Singapore’s Monetary Authority has launched a review of DW Capital Holdings, a family office linked to Chen Zhi. The office is under scrutiny for activities conducted under the MAS 13X scheme. Assets under management reportedly include wine, yachts, and automotive ventures.

Political and Institutional Movement in Japan and Hong Kong
Sanae Takaichi, Japan’s newly elected prime minister, has previously supported the acceptance of cryptocurrency donations. During her time in public office, she said that donations in digital assets were permitted under existing laws.

Standard Chartered Hong Kong is preparing to offer virtual asset ETF trading. The service is scheduled to launch in November. A bank representative noted, “Clients are looking to access digital assets through regulated platforms.”

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

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That risk sentiment across global markets. US and Asian equity futures advanced, and gold pulled back slightly from recent highs as traders rotated back into risk assets.Updated Oct 26, 2025, 12:55 p.m. Published Oct 26, 2025, 12:55 p.m.

Bitcoin climbed above $113,000 in late Asian hours Sunday, its highest in nearly two weeks, as traders welcomed signs of progress in US–China trade talks that eased fears of another tariff spiral.

Top negotiators from both nations said they had reached a “preliminary consensus” on several contentious issues — including export controls, fentanyl, and shipping levies — while US Treasury Secretary Scott Bessent told CBS that President Donald Trump’s threat of 100% tariffs on Chinese goods is “effectively off the table.”

The comments came after two days of talks in Malaysia and ahead of a planned Trump–Xi meeting to finalize a broader deal.

That risk sentiment across global markets. US and Asian equity futures advanced, and gold pulled back slightly from recent highs as traders rotated back into risk assets.

Crypto joined the move higher, with ether ETH$4,077.41 adding 2.6% to trade near $4,060, while BNB and Solana SOL$198.19 gained roughly 4.5% each. XRP jumped 2.3% to $2.64, extending last week’s rally tied to ETF optimism. Tron’s TRX was the lone major token in red, down 2.9%.

The broader crypto market cap rose 1.8% to $3.72 trillion, CoinGecko data shows, reversing some of the declines that followed this month’s liquidation cascade.

Analysts say the easing trade rhetoric has given traders breathing room after weeks of macro-driven volatility.

With the Federal Reserve’s next policy meeting less than a week away, a sustained breakout likely depends on how dovish the central bank’s tone turns. For now, relief on the geopolitical front has been enough to let crypto exhale — and keep bitcoin’s October from ending in its worst since 2015.

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Bitcoin Shines as a 'Liquidity Barometer,' Not an Inflation Hedge, NYDIG Says

Gold, traditionally seen as an inflation hedge, also shows inconsistent and often negative correlations with inflation, the data shows.

What to know:

NYDIG's data shows that bitcoin's price is not strongly correlated with inflation, challenging the narrative that it serves as a reliable inflation hedge.Gold, traditionally seen as an inflation hedge, also shows inconsistent and often negative correlations with inflation.Both bitcoin and gold are more influenced by real interest rates and money supply. Bitcoin, in particular, has shown a strengthening inverse relationship with real interest rates as it integrates more into the financial system.Read full story

Mid-tier Bitcoin miners are closing the gap on industry leaders in realized hashrate following the 2024 halving.

Summary

Mid-tier miners rapidly expanded after the 2024 halving, closing in on top players.
Public miners doubled their realized hashrate to 326 EH/s, a one-year record increase.
Mining sector debt surged to $12.7B amid heavy investment in rigs and AI ventures.

Cipher Mining, Bitdeer and HIVE Digital have quickly expanded their operations after years of infrastructure growth and narrowed the distance to top players like MARA Holdings, CleanSpark and Cango.

The change is a more level playing field in the mining sector. “Their ascent highlights how the middle tier of public miners — once trailing far behind — has rapidly scaled production since the 2024 halving,” The Miner Mag wrote in its latest Miner Weekly newsletter.

Top Bitcoin miners doubled realized hashrate
MARA, CleanSpark and Cango maintained their positions as the three largest public miners. Rivals including IREN, Cipher, Bitdeer and HIVE Digital posted strong year-over-year increases in realized hashrate.

The top public miners reached 326 exahashes per second (EH/s) of realized hashrate in September, more than double the level recorded a year earlier. Collectively, they now account for nearly one-third of Bitcoin’s (BTC) total network hashrate.

Public Bitcoin mining leaderboard: Source: The Miner Mag
Hashrate measures the computational power miners contribute to securing the Bitcoin blockchain. Realized hashrate tracks actual onchain performance, or the rate at which valid blocks are successfully mined.

For publicly traded miners, realized hashrate is a closer indicator of operational efficiency and revenue potential. The metric has become a key measure ahead of third-quarter earnings season.

Mining debt surges to $12.7 billion
Bitcoin miners are taking on record debt levels and also expands into new mining rigs, artificial intelligence infrastructure and other capital-intensive ventures. Total debt across the sector has jumped to $12.7 billion, up from $2.1 billion just 12 months ago.

VanEck research noted that miners must continuously invest in next-generation hardware to maintain their share of Bitcoin’s total hashrate and avoid falling behind competitors.

Some mining companies have turned to AI and high-performance computing workloads to diversify revenue streams. The change comes after dropping margins following the 2024 Bitcoin halving, which reduced block rewards to 3.125 BTC.

The debt increase shows aggressive expansion plans across the industry. Mining companies face pressure to scale operations quickly or risk losing market share to better-capitalized rivals.