Bitcoin is navigating a challenging economic environment as Brent crude oil maintains levels above $100 per barrel, raising concerns about persistent inflation and the availability of fresh liquidity in global markets. CryptoQuant analyst Darkfost highlighted that strong oil prices historically coincide with slower Bitcoin price momentum, though he emphasized that this pattern does not represent a confirmed causation.
Brent crude’s influence on Bitcoin and market liquidityAccording to Darkfost, ongoing geopolitical tensions in the Gulf region and intensified Ukrainian operations targeting Russian refineries have pushed energy prices higher. Elevated fuel costs can impact a broad range of industries, including manufacturing, transportation and services, contributing to rising prices across the economy.
“Over the long term, periods when Brent oil trends strongly above its annual average have typically seen Bitcoin’s upward momentum slow, though distinct causal links remain unproven,” stated Darkfost of CryptoQuant.
Brent crude recently hovered near $104, compared to an average range of $60 to $70 earlier in 2026. The commodity’s 365-day moving average is now rising following an extended downtrend.
Available data since 2014 shows that when Brent trades significantly above its yearly average, Bitcoin often underperforms. Several such episodes—such as in 2018, parts of 2021 and 2022, and periods throughout 2026—demonstrate this market relationship. However, not every increase in oil prices led to a drop in Bitcoin, underscoring the complex interplay between the two markets.
Darkfost argued that broader economic conditions, rather than oil prices alone, ultimately drive investor behavior. In an inflationary environment, access to capital and appetite for higher-risk assets like cryptocurrencies can diminish. Persistently high energy prices further complicate decisions for the Federal Reserve, as officials navigate balancing inflation risks with the goal of supporting economic growth.
If inflation does not subside, the Federal Reserve may be less inclined to loosen monetary policy, creating a less favorable backdrop for new investment in digital assets. Sustained high borrowing costs and elevated yields could make allocating capital to Bitcoin less attractive for some investors.
Nevertheless, the analyst noted that Bitcoin responded positively during brief intervals of reduced macroeconomic strain, as seen in July. Oil prices subsequently rebounded, but Darkfost did not rule out the potential for further gains, cautioning instead that persistent high energy costs may limit the flow of new liquidity into cryptocurrencies.
Mini dictionary: CryptoQuant is an on-chain analytics platform specializing in blockchain data and market intelligence for digital assets.
Whale activity: over $770 million in BTC withdrawnWhile macroeconomic pressure persists, large Bitcoin holders are increasingly moving considerable sums of cryptocurrency. Blockchain analytics provider Lookonchain reported that since October 1, forty newly-created wallets have withdrawn a combined 9,458 BTC—valued at approximately $771.5 million—through Wintermute, a leading digital asset trading firm known for providing market liquidity and institutional solutions.
Mini dictionary: Wintermute is a prominent global algorithmic trading firm providing liquidity and facilitating large-scale transactions in the digital asset markets.
These large-scale withdrawals suggest some whales are accumulating Bitcoin even amid sluggish overall momentum. However, transfers from exchanges or trading firms to private wallets do not confirm whether these represent new purchases, nor do they reveal the identities of the wallet holders. It also remains unclear if the recipients are distinct institutional investors or addresses controlled by a single entity.
Lookonchain’s observation highlights ongoing interest in Bitcoin by large market participants, but the data cannot confirm broader buying activity across the market. Moving coins between wallets is not equivalent to net buying pressure, and cannot guarantee immediate impact on price direction.
MetricValueBTC Withdrawn9,458 BTCUSD Value$771.5 millionNumber of wallets40PeriodSince October 1Main partyWintermuteEven as large withdrawals signal ongoing accumulation by whales, these movements alone do not demonstrate a market-wide trend toward new investments or establish a firm timeline for Bitcoin’s potential recovery.
Both the oil market analysis and whale activity measure distinct aspects of the current environment: energy prices frame the macroeconomic backdrop and potential liquidity constraints, while wallet movements illustrate how major Bitcoin holders position themselves under these conditions.
For now, no clear correlation guarantees either immediate price gains or losses for Bitcoin. Darkfost pointed to Brent’s performance above its annual average as the metric to monitor—should oil recede below $100 and fall under its yearly benchmark, pressure on Bitcoin could ease and create room for new market momentum.
Gold has been humanity’s favorite store of value for thousands of years. Bitcoin launched in January 2009. In the US, the newcomer now has more owners.
A research report released by River in July 2026 estimates that approximately 49.6 million American adults own Bitcoin. That works out to 18.6% of the adult population, compared with 28.8 million adults, or 10.8%, who report owning gold.
According to the report, this is the first time on record that Bitcoin ownership has overtaken gold.
The numbers behind the flip
The gap is wide. By River’s count, US Bitcoin owners outnumber gold owners by roughly 20.8 million people.
River’s data shows Bitcoin ownership rising from 14.3% to 18.6% of US adults in approximately six months.
The report credits much of that growth to easier access. Exchange-traded funds, mobile apps and a range of exchanges have made buying Bitcoin more accessible. River also links the trend to a broader cultural shift in how Americans view digital assets.
River isn’t the only outfit reporting this pattern. Earlier surveys from the Nakamoto Project, which collected data from late 2024 to early 2025 and published findings by mid-2025, landed in similar territory. Those surveys counted roughly 48 to 50 million Bitcoin owners, compared with about 37 million gold owners.
The two studies disagree on the gold figure. Their Bitcoin estimates sit in the same neighborhood, though, and both put Bitcoin ahead.
Beyond individual wallets
Individual ownership is only part of the US picture. American exposure to Bitcoin also runs through corporate treasuries and government vaults.
Americans are estimated to hold about 42% of the total global Bitcoin supply.
US public companies collectively hold approximately 1.24 million BTC. According to the research, that represents about 93% of corporate Bitcoin holdings worldwide.
The US government holds around 328,000 BTC, valued at over $26 billion. Most of it came from asset seizures rather than deliberate purchases.
A wrinkle in the data
Not every survey tells the same story. Gallup reported that 9% of US adults owned crypto as of June 2026. That figure was down from 14% the previous year.
That sits awkwardly next to River’s 18.6% Bitcoin figure. Bitcoin is a subset of crypto, so on paper, Bitcoin ownership shouldn’t exceed overall crypto ownership.
The likeliest explanation is that the surveys ask different questions of different samples. Some respondents may also not think of an ETF holding as “owning crypto.” The research frames the Gallup data as a sign that Bitcoin is pulling ahead of other digital currencies, even as broader crypto ownership slips.
What this means
River’s numbers suggest that among individual Americans, the default “alternative asset” may be shifting. The research suggests that could encourage institutions to allocate more toward Bitcoin, as it gains acceptance as a legitimate asset class.
The concentration figures cut both ways. The US holds about 42% of global Bitcoin supply, and US public companies account for about 93% of corporate holdings. That gives American policy decisions outsized influence over the asset, meaning regulatory moves on ETFs, corporate accounting or the handling of seized coins could ripple through the market.
What to watch next: whether the growth rate River measured holds up, and whether other pollsters converge on similar figures. The six-month climb from 14.3% to 18.6% is striking. And if Gallup’s lower crypto numbers keep diverging from Bitcoin-specific surveys, expect a debate over methodology to follow.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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.
Parker Lewis, author of “Gradually, Then Suddenly,” has argued that Bitcoin is poised to eventually settle all global payments. In a recent interview, Lewis pointed to the increasing burdens on the credit system, citing $107 trillion in global debt, and outlined how these factors could accelerate Bitcoin adoption for payment settlement.
Bank Failures and the Payment RevolutionLewis explained that major bank closures in 2023 convinced him the payments infrastructure is Bitcoin’s most vital role, rather than custody or reserve functions. He noted that the banking instability showcased vulnerabilities in traditional finance and made decentralized alternatives more attractive to individuals and businesses alike.
Discussing merchant adoption, Lewis highlighted that businesses can bypass traditional card networks by accepting Bitcoin directly. He emphasized these advantages by stating that merchants avoid the typical 3% card processing fees and eliminate risks related to chargebacks.
Parker Lewis described the shift in payments as essential, stating that merchant adoption of Bitcoin means, “Fewer fees, no chargebacks, and a more direct payment system.”
This focus on direct payments, according to Lewis, could drive Bitcoin’s real-world usage beyond its perception as just an asset or reserve currency.
Debt, Macro Strain, and Dollar RelevanceLewis also addressed the strain in the global credit system, citing over $107 trillion in worldwide debt—up starkly from $52 trillion in 2007. He said escalating interest rates, with mortgages above 7% and corporate refinancing costs at nearly 10%, signal deeper systemic stress.
He added that traditional tools of the Federal Reserve and the US Treasury are losing efficacy, leaving large-scale money creation as one of the only remaining responses to rising financial pressures.
According to Lewis, in such an environment, the dollar price of Bitcoin gradually becomes irrelevant as the system transitions to more direct digital settlements and away from depending on fiat currency denominations.
He claimed that “over time, as more payments are made through Bitcoin, the importance of its price in dollars will diminish.”
Lewis further critiqued the alignment issues between Bitcoin treasury companies and their investors, asserting that simply holding Bitcoin does not automatically drive long-term value or innovation.
Payments Infrastructure and Technical DebatesDebating the technical side, Lewis argued that Bitcoin’s real innovation comes through closing the value transfer loop and using payment networks, such as the Lightning Network, to provide scalable, instant settlements.
He also discussed the constraints of on-chain transaction capacity versus off-chain solutions like Lightning, suggesting that the payments architecture will need to evolve dramatically to reach the projected scale.
Mini dictionary: Lightning Network, a second-layer payment protocol for Bitcoin, enables faster and lower-cost transactions by creating off-chain channels that eventually settle on the main blockchain. It is seen as a critical tool for scaling Bitcoin to handle global payment volumes.
Lewis’s viewpoint has sparked further debate about Bitcoin’s long-term utility and the future of global payment settlements.
Circle has widened the scope of Gateway, its crosschain balance product. On October 23, 2026, the company added support for cirBTC and EURC, two assets that previously sat outside a system built around USDC.
The pitch is simple. Instead of tracking separate piles of the same token on a dozen blockchains, a user holds one unified balance per asset and spends it wherever it’s needed.
What Gateway actually does now
According to the research findings, funds become accessible in under 500 milliseconds once a deposit is finalized.
The update also brings gas-free Nanopayments to cirBTC and EURC. Gas fees are the network charges users pay to process a transaction. Removing them matters most for tiny, frequent payments, where a fee can easily exceed the payment itself.
Circle is positioning the feature for businesses, wallets and agentic applications. That last group means software agents that transact on their own, often in high volumes and small amounts.
Liquidity works on an on-demand model. Rather than parking capital on every chain ahead of time, users pull it where it’s required, when it’s required.
Gateway remains non-custodial, per the research findings. Users also keep a 7-day trustless withdrawal option. Put plainly, there’s a route to get funds out without relying on Circle’s cooperation, at the cost of a week’s wait.
Cumulative transfers through Gateway surpassed $10 billion by mid-October 2026, according to the research.
The two new assets, and the road here
cirBTC is Circle’s Bitcoin-backed token. Each unit is backed 1:1 by native Bitcoin held by a regulated Circle entity. It launched on August 21, 2026, so it took roughly two months to go from debut to unified-balance support.
EURC is Circle’s euro stablecoin. It is backed by full euro reserves and complies with MiCA, the European Union’s Markets in Crypto-Assets framework. MiCA is the EU’s rulebook for crypto issuers, and compliance is effectively the entry ticket for serious euro-denominated business in the bloc.
The Gateway move follows a September 2026 expansion of CCTP, Circle’s Cross-Chain Transfer Protocol. That upgrade enabled native EURC transfers across multiple blockchains, including Arc and Ethereum. Arc is Circle’s own layer-1 network.
The research also notes that developers can adopt the new assets without significant changes to existing setups.
What this means for businesses and builders
A single balance per asset shrinks the capital buffer required across chains. Money that once sat waiting on five chains can sit in one place and move when called.
Adding a MiCA-compliant euro stablecoin gives European businesses a native-currency option, rather than forcing every flow through a dollar conversion.
cirBTC addresses a different need. Plenty of users want Bitcoin exposure inside applications that don’t run on the Bitcoin network. A token backed 1:1 by native Bitcoin, now spendable across chains from one balance, makes that exposure easier to use in payments and treasury workflows.
There is a nuance worth keeping straight. Gateway itself is non-custodial, but cirBTC’s backing depends on Bitcoin held by a regulated Circle entity. Users are still trusting Circle’s custody of the underlying asset, even if the balance layer doesn’t hold their funds. Those are two separate trust questions, and treating them as one would be a mistake.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.
Privacy on Bitcoin has always come with a surcharge. A new prototype called PISA is trying to lower the bill.
Developers demonstrated PISA on October 23, 2026, during the Plan ₿ Week and Forum events in Lugano, Switzerland. The project combines Payjoin with Cross-Input Signature Aggregation, better known as CISA, to make collaborative Bitcoin transactions smaller and cheaper.
What PISA actually does
Start with the two ingredients. Payjoin, defined in BIP77 and BIP78, is a method for collaborative transactions with built-in privacy features.
Collaborative transactions pull in inputs from more than one source. That makes them harder for outside observers to read, which is the privacy benefit.
The catch is size. Every input in a Bitcoin transaction normally carries its own signature, and every signature takes up space.
CISA attacks that problem directly. It lets multiple signatures across different inputs be aggregated together, rather than each one sitting in the transaction separately.
PISA stitches these two ideas into a single working prototype. The goal is to keep Payjoin’s privacy while using CISA to trim the transaction’s footprint.
The numbers and the people behind them
The savings are not trivial. CISA proposals could cut transaction size and fees by approximately 7–26%, depending on the type of transaction.
The biggest wins should land on multi-input payments. Those are exactly the transactions common in tools like CoinJoin and Payjoin.
Fabian Jahr and Dan Gould are the primary developers on PISA. Both emphasized the potential for meaningful fee savings in cooperative transactions.
The project is a collaborative effort involving the Payjoin Dev Kit and Brink. Cypher Tank supported the Lugano demonstration.
The team did not keep the work behind a curtain. Developers showcased the code and specifications during the event and made them publicly available through a dedicated project website at pisa.payjoin.org.
Discussion on social media following the demo focused on user experience improvements.
Still a draft, not a deployment
Now for the fine print. The CISA proposals behind PISA remain in the research and specification phase.
The relevant draft Bitcoin Improvement Proposals, BIP 458 and BIP 459, have not been activated on the Bitcoin network. Until they are, the savings PISA demonstrates live in a prototype, not in your wallet.
Work on improving collaborative transactions has continued since the Taproot activation in 2021, with developers looking for ways to boost privacy while reducing the costs of using these newer transaction methods.
PISA is one of the more concrete outputs of that effort. It turns a set of specifications into something people can actually run and inspect.
What this means for Bitcoin users and builders
For wallet developers and infrastructure teams, PISA offers a reference point. Public code and specifications give builders something tangible to evaluate ahead of any protocol change.
For investors, the near-term picture is more modest. PISA is protocol research, and its direct impact depends on whether BIP 458 and BIP 459 move from draft to activation.
Progress on BIP 458 and BIP 459, developer feedback on the published PISA code, and any wallet teams experimenting with the prototype will signal whether this demo becomes a building block or stays a conference highlight.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Block has introduced its first large-scale advertising campaign for Bitcoin, called “Bitcoin Does,” aiming to engage the estimated 60 million Americans with an interest in digital currency but who have not yet participated in the market.
New campaign strategy targets mass adoptionThe “Bitcoin Does” campaign marks a shift in Block’s outreach approach, focusing on demonstrating real-life uses for Bitcoin instead of delving into complex technical aspects such as mining or blockchain. The company seeks to present Bitcoin as a straightforward and practical financial solution, responding to the questions and concerns of everyday consumers.
Maria Pesce, who leads Bitcoin marketing at Block and works across its Cash App, Square, and Proto product lines, explained the rationale behind the campaign. Pesce stated that feedback from potential users highlighted a need for clearer messaging that emphasizes Bitcoin’s tangible benefits.
Pesce reported that Block’s research showed many people are seeking “more honest money” and are trying to understand how Bitcoin fits into their daily lives.
Customer insights inform campaign messagingThe concept behind the “Bitcoin Does” campaign emerged from insights gathered through conversations with Cash App users and Square merchants. Many expressed frustration with inflation, financial bailouts, and private equity practices, motivating Block to position Bitcoin as a more transparent and accessible alternative.
Pesce highlighted that messages from small business owners influenced the campaign’s narrative, with several describing Bitcoin as “more honest money.” The marketing materials focus on Bitcoin’s fixed supply, self-custody options, and why younger generations are increasingly choosing the cryptocurrency for its perceived stability and transparency.
Interactive experiences and payment innovationBlock also used experiential marketing, debuting its “Lightning Lake” activation at ComplexCon, a cultural event. At this venue, attendees engaged in interactive activities such as “fishing for Bitcoin” and making payments via the Lightning Network, a second-layer protocol that enables faster, low-fee transactions over the Bitcoin network.
Mini dictionary: The Lightning Network is a second-layer scaling solution for Bitcoin that allows for instant transactions between users and reduces congestion and fees on the main blockchain, making micro-payments practical.
Block’s design philosophy aims to make using Bitcoin as simple as sending email, underlining the company’s focus on accessibility. The company also promotes 0% Bitcoin transaction processing fees on Square, further incentivizing merchants and customers to adopt digital payments.
Block’s team emphasized that design choices and customer experience are crucial for helping new users reach “light bulb moments” where the advantages of Bitcoin become clear.
Block’s expanding role in the digital ecosystemFounded by Jack Dorsey, Block is a financial services and technology company known for its prominent brands including Cash App and Square. The company is expanding its reach in the digital asset sector, developing tools and experiences that aim to simplify and promote Bitcoin adoption.
The launch of this campaign coincides with Block’s efforts to join broader technology alliances. The company recently aligned with major firms such as Nvidia, Microsoft, and Visa in initiatives focused on developing secure artificial intelligence applications.
By prioritizing practical demonstrations and tailored messaging, Block intends to bridge the gap between curiosity and active participation among millions of prospective Bitcoin users in the United States.
Bitcoin, the leading cryptocurrency, is fluctuating within a narrow range of $80,000-$84,000, with the anticipated major surge failing to materialize. In its latest report, CoinShares analyzed the factors limiting the rise in BTC.
According to CoinShares, Bitcoin is showing resilience to declines thanks to a recovery in spot buying and an improvement in market sentiment, while high inflation and interest rate hike expectations in the US are limiting the upside potential in the cryptocurrency market.
Spot Buying Supports Bitcoin, Suppresses Inflation and Interest Rates! According to CoinShares’ latest assessment, Bitcoin is exhibiting a relatively strong performance despite volatility in risky assets. The recovery in spot market buying, improved sentiment in equity markets, and the closing of short positions are among the key factors supporting the Bitcoin price.
In contrast, inflation data released in the US continues to be a significant risk for the cryptocurrency market. The consumer price index (CPI) exceeded expectations in September, raising concerns about inflation and interest rates.
Higher-than-expected inflation is also making it more difficult for the Fed to ease monetary policy and is reducing expectations of interest rate cuts. The possibility of interest rates remaining high for a longer period or a new increase could increase pressure on non-yielding assets like Bitcoin.
At this point, the market is also closely watching the possibility of another interest rate hike in December. The probability of rates remaining unchanged in October is priced at 90.6%, while the probability of an interest rate hike in December is priced at 68.8%.
Uncertainty Continues for Bitcoin! CoinShares concludes its assessment by stating that in the short term, spot demand, as well as inflation, interest rate expectations, and liquidity conditions, could be decisive factors in Bitcoin’s trajectory. While spot purchases support the price, concerns about tight monetary policy pose an obstacle to a sustained rise.
Therefore, the direction of Bitcoin is expected to be shaped by upcoming economic data and policy signals from the Fed.
*This is not investment advice.
Follow our Telegram and X account now for exclusive news, analytics and on-chain data!
Coinbase official logo (public domain, Wikimedia Commons) — CryptoBriefing brand treatment
A large transfer of 789 Bitcoin, valued at approximately $64.31 million, was made from an unidentified wallet to Coinbase Institutional, according to Whale Alert. This transaction comes amid Bitcoin’s price in the range of $81,500 to $81,900 on October 23, 2026, following a recent decline from around $84,800. The movement of such a significant amount of Bitcoin to an institutional platform like Coinbase suggests potential institutional interest, although the exact purpose and ownership of the wallet remain unclear. Meanwhile, U.S. spot Bitcoin ETFs have been experiencing net outflows, adding another layer of complexity to the current market dynamics.
Key Takeaways The transfer of 789 BTC to Coinbase Institutional suggests potential institutional involvement, which could indicate interest in higher price levels. Bitcoin has been in a range between $81,500 and $81,900, with previous highs at $84,800, suggesting a cautious market environment. The recent net outflows from U.S. spot Bitcoin ETFs suggest mixed sentiment among institutional participants. What to Watch Any further large transfers or institutional activity could influence Bitcoin’s price direction. The impact of this transfer on the market remains to be seen, particularly if it aligns with any significant announcements or shifts in institutional strategy. Additionally, any changes in the ETF inflow/outflow patterns may indicate shifts in institutional sentiment and its effect on Bitcoin’s potential to reach higher price thresholds.
Term Structure
Contract Odds Δ since publish Volume 24h October 24 2026 0.9% — — View market → October 24 2026 13% — — View market → October 24 2026 3.5% — — View market → October 24 2026 1.2% — — View market → October 24 2026 3.5% — — View market → October 24 2026 13.5% — — View market →
Bitcoin (BTC) saw a fresh dip below $81,000 after Friday’s Wall Street open as Brent crude oil set new seven-month highs.
Key points:
Bitcoin briefly dropped below $81,000 at the start of Friday’s US trading session as stocks drifted lower and the US 10-year yield remained below 5%. Brent crude oil reached $116 per barrel for the first time since March 19 amid Middle East tensions.BTC price action focused on reclaiming its 50-day simple moving average at $81,781.US stocks slip, bond yields cool as oil surgesData from TradingView showed BTC/USD falling to $80,988 before recovering to around $81,600 at the time of writing.
US stocks opened lower as AI-sector expenditure woes coincided with a surge in oil prices on the back of tensions around the US-Iran war.
The S&P 500 and tech-heavy Nasdaq Composite Index were down 0.6% and 0.2%, respectively, at the time of writing. The Dow Jones Industrial Average was 1.4% lower.
As traders turned risk-averse, the 10-year US bond yield stayed below 5%, having reached 4.939% on Thursday, their lowest since Sept. 23.
US 10-year bond yield one-day chart. Source: Cointelegraph/TradingView
Concerns that the US may renew military strikes on Iran around the midterm elections sent WTI crude oil past $102 per barrel on Friday. This is the highest level since Sept. 16. Brent crude saw an even sharper rise of nearly 3% to $116 per barrel, a level last seen in mid-March.
CFDs on Brent crude oil one-day chart. Source: Cointelegraph/TradingView
Commenting, economist Robin Brooks noted that prices were rising although oil flows through the Persian Gulf approached pre-war levels for many nations and Saudi Arabia surpassed its pre-war average.
“Since the start of the war, we’ve not seen this kind of decoupling between prices and flows,” he wrote in analysis on the day, seeing markets incorporating a “huge risk premium.”
Persian Gulf oil-transit volumes (screenshot). Source: Robin Brooks on Substack.com
BTC price analysis eyes 50-day trend lineCommenting on low-timeframe BTC price action, Keith Alan, cofounder of crypto trading platform Material Indicators, saw the potential for lower support retests to come.
BTC/USD, he noted, had fallen below its 50-day simple moving average (SMA) at $81,781, with bulls now attempting to reclaim it by the daily close.
“If they fail to do so by tonight’s close, I’m looking for a support test in the $78k - $80k range,” he told X followers.
BTC/USD one-day chart with 50 SMA. Source: Cointelegraph/TradingView
Previously, Cointelegraph reported on substantial BTC price support between $80,000 and $81,500, as this area hosts the aggregate cost basis for investors in the spot Bitcoin exchange-traded funds (ETFs).
Bitcoin (BTC) saw a fresh dip below $81,000 after Friday’s Wall Street open as Brent crude oil set new seven-month highs.
Key points:
Bitcoin briefly dropped below $81,000 at the start of Friday’s US trading session as stocks drifted lower and the US 10-year yield remained below 5%. Brent crude oil reached $116 per barrel for the first time since March 19 amid Middle East tensions.BTC price action focused on reclaiming its 50-day simple moving average at $81,781.US stocks slip, bond yields cool as oil surgesData from TradingView showed BTC/USD falling to $80,988 before recovering to around $81,600 at the time of writing.
US stocks opened lower as AI-sector expenditure woes coincided with a surge in oil prices on the back of tensions around the US-Iran war.
The S&P 500 and tech-heavy Nasdaq Composite Index were down 0.6% and 0.2%, respectively, at the time of writing. The Dow Jones Industrial Average was 1.4% lower.
As traders turned risk-averse, the 10-year US bond yield stayed below 5%, having reached 4.939% on Thursday, their lowest since Sept. 23.
US 10-year bond yield one-day chart. Source: Cointelegraph/TradingView
Concerns that the US may renew military strikes on Iran around the midterm elections sent WTI crude oil past $102 per barrel on Friday. This is the highest level since Sept. 16. Brent crude saw an even sharper rise of nearly 3% to $116 per barrel, a level last seen in mid-March.
CFDs on Brent crude oil one-day chart. Source: Cointelegraph/TradingView
Commenting, economist Robin Brooks noted that prices were rising although oil flows through the Persian Gulf approached pre-war levels for many nations and Saudi Arabia surpassed its pre-war average.
“Since the start of the war, we’ve not seen this kind of decoupling between prices and flows,” he wrote in analysis on the day, seeing markets incorporating a “huge risk premium.”
Persian Gulf oil-transit volumes (screenshot). Source: Robin Brooks on Substack.com
BTC price analysis eyes 50-day trend lineCommenting on low-timeframe BTC price action, Keith Alan, cofounder of crypto trading platform Material Indicators, saw the potential for lower support retests to come.
BTC/USD, he noted, had fallen below its 50-day simple moving average (SMA) at $81,781, with bulls now attempting to reclaim it by the daily close.
“If they fail to do so by tonight’s close, I’m looking for a support test in the $78k - $80k range,” he told X followers.
BTC/USD one-day chart with 50 SMA. Source: Cointelegraph/TradingView
Previously, Cointelegraph reported on substantial BTC price support between $80,000 and $81,500, as this area hosts the aggregate cost basis for investors in the spot Bitcoin exchange-traded funds (ETFs).
Franklin Templeton has taken the last regulatory step before launching two exchange-traded funds that convert stock dividends into bitcoin.
On October 22, Franklin Templeton filed a Form 8-A with the Securities and Exchange Commission to register shares of the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF for trading on the Nasdaq. A prospectus filed the same day lists an effective date of October 27.
The filings for both funds arrived in June without tickers or fees. Four months later, the details are in.
How the funds work The Equity fund, ticker FBEQ, tracks the VettaFi US Large-Cap 500 Bitcoin DRIP Index. The index holds the 500 largest U.S. companies by market capitalization, weighted by float-adjusted market cap.
As of September 30, it held 499 stocks ranging from $10.2 billion to $5.5 trillion in size, with a concentration in information technology.
At inception, the index allocates 95% to those stocks and 5% to bitcoin. Each dividend the companies pay, regular or special, is reinvested into bitcoin at the market open on the day after the ex-date. The bitcoin share of the portfolio grows with each payment.
A traditional dividend reinvestment plan, or DRIP, buys more shares of the company that paid the dividend. Franklin’s version routes that cash into bitcoin.
For a holder, the dividend stream from the largest companies in America becomes a recurring bitcoin purchase, with no exchange account, no wallet and no custody decisions.
The bitcoin position has limits. At each quarterly rebalance, an allocation above 5% is trimmed to 4.5%. If bitcoin exceeds 20% of the index between rebalances, it is cut back to 4.5% within two business days, and the proceeds return to stocks. The result is a stock fund with a bitcoin sleeve, not a bitcoin fund.
The ETF does not hold bitcoin on-chain. It gains exposure through bitcoin exchange-traded products, including Franklin’s own spot fund, through bitcoin futures and options, or through depositary receipts, in some cases via a Cayman Islands subsidiary.
FBEQ carries a 0.09% expense ratio with no 12b-1 fee. Franklin Advisory Services manages the fund, with Franklin Templeton Institutional as sub-advisor. Dina Ting, Hailey Harris, Joe Diederich and Basit Amin serve as portfolio managers.
The Innovation fund follows the same mechanic on the VettaFi US Innovation 100 Bitcoin DRIP Index, which draws from the 100 largest non-financial companies listed on the Nasdaq.
A deeper bet on bitcoin Franklin Templeton filed for a spot bitcoin ETF in September 2023 and launched it as EZBC in January 2024. In April, the firm acquired 250 Digital and formed Franklin Crypto, an institutional digital asset division. Franklin Templeton CEO Jenny Johnson has argued that blockchains threaten Wall Street’s fee structure more than its technology.
The DRIP funds extend that strategy to investors who may never buy bitcoin on their own. A retiree holding an S&P 500-style fund in a brokerage account can, through FBEQ, let dividends from the companies she already owns build a bitcoin position over years.
The prospectus warns that investors can lose money, and that bitcoin’s price swings may affect the fund’s net asset value. Whether that trade-off appeals to the audience Franklin Templeton is targeting will become clear after October 27.
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
Bankless co-founder David Hoffman wrote in a post that a batch of tokens he dubs "2017-era Bitcoin clones" has recently drawn renewed market interest. Among them, PRL rose 30% this week, hitting a fully diluted valuation (FDV) of $4.2 billion. QTC jumped 300% this month, and with a total supply of 21 million tokens, its valuation reached $1.8 billion. Notably, tokens with a fixed supply of 21 million are commanding multi-billion-dollar valuations, a trend that warrants attention.
Bitcoin Core will now release fixes and security advisories quickly for bugs a simple LLM prompt could find, rather than holding them for as long as approximately a year under its severity rules.
Bitcoin Core rewrites security policy for bugs a simple LLM prompt can find
Posted October 23, 2026 at 11:58 am ET.
Bitcoin Core has rewritten part of its security policy for an era of AI-assisted bug hunting. A policy update approved this week creates an “easily discoverable” category of vulnerability, and those get a fix and a public advisory right away instead of waiting out the standard embargo.
Under the updated text, merged on Thursday, Oct. 22, Bitcoin Core will ship a point release with the fix for every maintained major version “as soon as possible, along with a security advisory, without applying the standard severity-dependent embargo periods.” The policy defines the new class as flaws found “with minimal effort, such as through a simple LLM prompt.”
Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter.
Why the Rules Changed Antoine Poinsot, a Bitcoin Core contributor who works at Chaincode Labs, opened the proposal on Oct. 16. In the pull request description, he wrote that the project had received more reports of bugs that can be “easily (re-)discovered,” a rise he said was “largely due to LLMs drastically reducing the bar to find certain classes of issues or identify covert fixes.”
Bugs outside the new class still follow the severity-based timelines: low severity bugs are disclosed two weeks after a major release containing the fix, while Medium and High severity bugs stay private until the final affected release has been out of support for two weeks, approximately a year after the fix first ships. Critical bugs are handled case by case. Poinsot wrote that the long embargo generally kept fixes from being backported, so users only got them with the next major release.
“For these issues that are easy to find, this is the wrong tradeoff,” he wrote. “The embargo period achieves little but it delays the availability of a fixed release.”
In a later comment, Poinsot said patching such bugs quietly “would achieve little,” because they “can already be found through a trivial LLM scan” and backporting the fix would reveal them anyway. He acknowledged that fixes will get less testing time in development branches before they reach users.
A Debate Over Timing Contributor Stéphan “stickies-v” Vuylsteke argued that attackers can now cheaply watch the code repository, noting they can “quickly and automatically monitor the repo,” and suggested disclosing these bugs no later than when the fix’s pull request opens. Another contributor, sedited, questioned whether that needed a written rule. Poinsot replied that for less than critical bugs, warning users before a fixed version exists would likely do more harm than good.
Contributor ariard proposed letting the project ship a fix without an advisory at the same time, with one to follow later “at an appropriate time.” Poinsot rejected the idea, writing that alerting users “without any details could create more risk unnecessarily,” for instance by prompting rushed migrations.
The change was approved by several contributors and merged by Michael “fanquake” Ford. According to the pull request description, bugs may be flagged as easily discoverable during triage, and the category is broader than AI findings alone: “In practice, we expect those to be issues that can be found with a simple prompt to an LLM, but the classification is not restricted to those.”
Related Listen: When Could Quantum Computers or AI Break Bitcoin? An Updated Threat Window
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.
XRP has alternated between 12- and 14-month up and down cycles since 2020, placing July 2027 in focus if the historical timing continues.
XRP’s monthly price structure has followed a notably regular rhythm since 2020, alternating between broader upward and downward phases that have generally lasted between 12 and 14 months.
The latest rotation places XRP in roughly the third month of a new upward cycle. If the timing pattern continues, the present phase could remain active into mid-2027, with around July 2027 emerging as the next potential window for a broader directional change.
XRP is currently trading near $1.30, with CoinMarketCap showing a 24-hour range of approximately $1.29 to $1.35.
XRP’s First Cycle Ran From the 2020 Base Into 2021
The first major phase visible on the monthly structure spans 13 candles, or roughly 396 days. It captures XRP’s recovery from its depressed 2020 range into the much stronger market seen during the first half of 2021.
XRP Monthly Cycle Triangle Chart
The change in price was substantial. XRP traded at about $0.219 on May 1, 2020, according to historical CoinMarketCap data. By May 1, 2021, it was worth roughly $1.65.
That upward phase was followed by the longest measured downswing in the sequence: 14 monthly bars covering approximately 426 days.
Rather than declining in a straight line, XRP produced rebounds and temporary recoveries during this period. However, the wider structure remained downward. By June 16, 2022, XRP had fallen to approximately $0.312.
The 2022–2024 Cycles Became More Compressed
The next upward phase lasted approximately 13 months, or 395 days.
XRP recovered from the 2022 lows and was trading around $0.713 by July 15, 2023, compared with the roughly $0.31 level recorded during the prior year’s decline.
The following phase lasted another 12 months, or about 366 days, but the decline was much less dramatic than the 2021–2022 downturn. XRP spent much of this period moving within a broad range instead of collapsing continuously.
By Aug. 1, 2024, XRP was trading near $0.5965.
This is an important feature of the cycle model: the timing has been more consistent than the size of the price moves. A 12-month bullish or bearish phase does not imply that XRP will gain or lose the same percentage each time.
XRP’s 2024–2025 Up Cycle Produced the Biggest Recent Expansion
The next 12-month upward phase began from the 2024 consolidation area and developed into a much stronger advance.
XRP was still around $0.60 in early August 2024. By Nov. 30, it had reached approximately $1.94, and by July 17, 2025, CoinMarketCap recorded XRP at about $3.50.
That expansion was followed by another approximately 12-month downward phase. XRP progressively surrendered a large portion of the preceding advance, with its price falling to about $1.09 by July 18, 2026.
The sequence therefore became particularly regular from 2023 onward: roughly one year down, one year up, and then another year down.
XRP Is Now in Month Three of the Next Cycle
The current structure places the beginning of another upward phase around August 2026. That makes October approximately the third monthly candle in the developing cycle.
At around $1.30 today, XRP remains well below the highs reached during the previous upward phase.
Importantly, an upward cycle does not require every monthly candle to close higher. The historical structure includes red months inside broader advances.
What matters for the pattern is whether XRP can continue developing a larger sequence of improving highs and lows as the cycle progresses.
If the latest phase again lasts approximately 12 months, the timing would extend toward July or August 2027. July 2027 therefore represents a potential cycle-transition window rather than a price target or a confirmed reversal date.
The pattern would also need to be reassessed if XRP begins establishing a sustained bearish structure before then.
XRP Price Scenarios Into 2027
If XRP maintains the developing higher-high and higher-low structure, the first upside test would be the $1.70–$2.00 region.
A sustained monthly breakout above that area could reopen the path toward $2.50–$3.50, including the previous cycle-high zone.
A slower bullish scenario could keep XRP consolidating between roughly $1.20 and $1.70 for several months before another expansion later in the cycle.
The bullish cycle thesis would weaken if XRP loses $1.00 on a sustained monthly basis, as that would undermine the improving structure and raise the risk that the expected 12-month advance is failing earlier than previous cycles.
Each new monthly candle adds information, meaning the historical 12- to 14-month rhythm remains a framework to watch rather than a fixed timetable for future price action.
Ripple has partnered with Swiss-regulated financial institution Arf to bring RLUSD-powered settlement liquidity to the XRP Ledger, expanding the blockchain’s role in cross-border payments and institutional lending.
Arf processes almost $10 billion in annual global settlement volume, since its launch in November 2022.
The partnership aims to provide short-term working capital to licensed payment companies.
How Will Ripple And Arf Improve Cross-Border Payments?Cross-border payment companies often need substantial working capital to pre-fund transactions while waiting for payments to settle.
Traditional bank financing can take months to arrange and require significant collateral, limiting liquidity available across international markets.
Arf’s payment finance model addresses this challenge by providing short-duration settlement liquidity, typically repaid within one to five days.
Through the partnership announced on Oct.22, Arf will initially provide direct settlement liquidity using Ripple’s RLUSD stablecoin on XRPL and support more payment volume.
Jasmine Cooper, RippleX’s head of product, said XRPL’s fast settlement capabilities and RLUSD’s regulated dollar infrastructure make the network suitable for institutional liquidity financing.
XRPL Lending To Boost Institutional AdoptionArf plans to integrate XRPL’s proposed native lending infrastructure to expand settlement liquidity through Single Asset Vaults for pooling capital and a Lending Protocol for extending structured loans.
Arf will retain off chain underwriting and credit decisions while managing lending on XRPL.
The transition depends on approval and activation of the XLS-65 and XLS-66 amendments.
Arf has already developed an implementation and is providing feedback.
The partnership could boost institutional RLUSD adoption by enabling recurring loan disbursements and repayments for cross-border settlements.
Arf’s revolving liquidity model allows capital to be reused as transactions settle, potentially increasing RLUSD demand.
XRPL’s institutional expansion comes as network participation rises despite XRP’s price volatility.
Santiment Intelligence data shows non-empty wallets hit a record 8.24 million, with 4,772 new wallets added in one day, the fifth-largest spike since March.
With XRP (CRYPTO: XRP) near $1.32, a breakout above $1.40 could target $1.50, while a drop below $1.30 could weaken the bullish outlook.
Growing institutional activity could increase XRP transaction fees and reserve demand, though adoption does not guarantee price gains.
Image: Shutterstock
Read Next
Market News and Data brought to you by Benzinga APIs
Payment activity on the XRP Ledger has surged, with recent statistics from XRPScan showing payment volume reached 770.6 million XRP in the latest 24-hour period. This marks a 119.6% increase compared to the previous day. The figure is significantly above the 30-day average of 601.9 million XRP, indicating a sudden return of network activity after a period of stagnation. Despite this notable spike, the all-time high for daily payment volume remains much higher at 7 billion XRP, suggesting that current levels, while robust, are still far from record territory.
Network activity rebounds after slow periodA review of the past year reveals that XRP payment volumes have been highly volatile, with notable peaks approaching 2.6 billion XRP both in November and February. Outside of these bursts, daily volumes typically fluctuate between 300 million and 700 million XRP. On quieter days, network activity can even drop close to zero. The latest jump follows directly after one such period of low network engagement.
It is worth noting that much of this 119.6% increase comes off a very low baseline, limiting its immediate impact as a long-term trend signal. Nevertheless, analysts point out that any uptick in genuine payment activity is a positive sign for the health of the network, as it reflects increased settlement and usage by participants. This stands in contrast to exchange trading volumes, which can be influenced by speculative activity.
Payment volume shows how much XRP is actually moving between accounts, so it is a cleaner signal than exchange trading alone. When this figure rises, more people are sending, settling, and using the network.
After several weeks of diminished activity, this resurgence in payments marks a potential turning point for user engagement, provided it can be sustained over the coming days.
Mini dictionary: XRP Ledger – a decentralized, public blockchain designed for payments, allowing users to send value quickly and at low cost. The ledger validates and tracks transactions using the XRP token as its native asset.
Price remains below major resistanceDespite the uptick in network usage, XRP’s market price has not shown a corresponding rally. The digital asset is now trading close to $1.31, remaining below key technical levels. The 200-day moving average sits near $1.37, while the 100-day average is close to $1.34, both now acting as resistance zones. Earlier attempts to push above these areas were met with selling pressure, and the price has retreated toward a range of $1.27 to $1.30.
Technical momentum remains weak, with the Relative Strength Index (RSI) hovering around 40. While not yet in oversold territory, this reading points to limited buying enthusiasm.
IndicatorCurrent ValueSupport/ResistanceCurrent Price$1.31—200-day Moving Average$1.37Resistance100-day Moving Average$1.34ResistanceNearest Support$1.25SupportNext Key Support$1.15SupportRSI40Neutral/WeakShould the price break below $1.25, analysts point to $1.15—where the August rally previously began—as the next important support zone. On the contrary, a daily close above $1.37 would open the door for further gains, with upside targets at $1.45 and $1.55.
Traders wait for confirmationTrading volume for XRP on exchanges has declined, signaling a cautious stance among market participants. Many investors appear to be waiting for confirmation that the surge in payment activity is translating to sustainable buying interest and higher prices.
A real recovery needs both better network use and stronger buying on the exchanges. So far, only the first part has appeared.
Market observers highlight that such divergence between technical adoption and price action is not uncommon, especially when the financial market is searching for direction. If payment volumes remain steadily above the 30-day average of 601.9 million XRP in the coming days, the chances of a price breakout above $1.37 could increase. However, if this latest spike proves short-lived, XRP is expected to remain within its current trading range.
Although the demand for XRP ETFs has slowed substantially in recent days following the recent crypto market volatility, they have remained persistent even in small quantities.
Amid the slow but steady demand for the XRP investment product, the latest onchain data shows that Franklin Templeton has just bought XRP, even as its price remains unstable.
$3.5 million of XRP scoopedAs of October 23, data from SosoValue shows that Franklin Templeton's XRP ETF has recorded up to $3.55 million in net inflows during its last daily trading session on Thursday.
HOT Stories
With the Franklin XRP ETF attracting up to 2.71 million XRP worth about $3.55 million in net inflows at a time like this, the fund has taken dominance for the day as other XRP ETFs saw zero capital flows for the day.
You Might Also Like
Notably, the inflow recorded by the fund provides a bullish outlook for XRP as it signals sustained demand from investors seeking exposure to the asset without directly holding it.
However, XRP's price movement at the time of the purchase remains concerning to market participants as the broad market momentum continues to fade.
Can This Trigger an XRP Rally?It is important to note that while Franklin Templeton's latest XRP purchase provides a positive signal for demand for its XRP investment product, it does not guarantee an immediate price recovery for the asset.
XRP's current price movement remains subject to broader market sentiment, which is currently bearish as other major crypto assets are also witnessing a price correction.
Nonetheless, market analysts predict that sustained demand for the XRP ETF could drive bullish momentum for the price.
XRPL dUNL validator Vet has explained why XRP’s importance extends beyond its market price.
In a recent X post, Vet addressed questions about why XRP is not seeing broader usage and why the growth of tokenized assets on the network has not translated into stronger price performance.
He argued that these concerns overlook the XRPL’s broader purpose as a multi-asset network that has supported different assets since 2012.
According to Vet, XRP plays a distinctive role in this ecosystem, serving as a bridge between assets while supporting the ledger’s underlying operations.
XRP Connects Assets Through Auto-Bridging
Vet highlighted XRP’s auto-bridging function on the XRPL’s DEX. This feature allows XRP to act as an intermediary when users trade between two different assets, potentially enabling more efficient trading routes when direct trading pairs lack sufficient liquidity.
As more assets enter the ecosystem, this function could become increasingly useful. Tokenized assets and other issued tokens can trade on the ledger, while XRP helps connect markets and facilitate exchanges between assets that might otherwise have limited direct liquidity.
Beyond its role in trading, XRP also supports the network’s basic operations, according to Vet. Users need it to pay transaction fees and satisfy account reserve requirements, making it an integral part of the ledger’s infrastructure.
Vet Describes XRP as a Neutral Form of Money
Vet also emphasized XRP’s distinction from issued tokens. As the XRPL’s native asset, XRP does not depend on an issuer to maintain its existence. Furthermore, unlike issuer-controlled tokens that support freezing mechanisms, he noted that XRP cannot be frozen at the protocol level.
These characteristics give XRP a degree of neutrality within the ecosystem. Users can transact with the asset without depending on a central issuer to authorize its existence or continued use.
Vet highlighted this position emphatically, declaring that “XRP is money!”
‘XRP’s Price Should Reflect Network Adoption,’ Vet
Addressing concerns about XRP’s price performance, Vet argued that the priority should be building a useful network that attracts users and businesses. As adoption expands, he believes XRP could see greater utility as a neutral asset connecting different markets across the ledger.
From this perspective, price appreciation should follow increased usage and acceptance rather than serve as the primary measure of the network’s success.
“Let the price of the native asset be a knock on effect of large scale usage and acceptance of the XRP Ledger,” Vet remarked.
Meanwhile, XRP was trading at $1.32, down 65.61% from its previous all-time high of $3.84.
Meanwhile, Vet has previously highlighted the potential for XRPL and other blockchain networks to transform the future of finance. The entry of new capital into the XRPL ecosystem could support further development, although its eventual impact on XRP will depend on how that capital translates into actual network usage and demand for the native asset.
Crypto market analyst EGRAG CRYPTO has warned XRP investors of a potential major move as he identified a pattern shaping up on the token’s weekly chart. He pointed out what looks like a double top formation, noting two strong rejections at a key resistance level near the current price of $1.34. The analyst stated that a breakdown below the formation’s neckline, with a confirmed weekly close, could accelerate a bearish scenario.
Chart interpretation reversedHowever, a closer analysis of the chart he published reveals an inverse reading of the setup. The chart presented by EGRAG CRYPTO was shown in inverted form, making an upward breakout visually appear as a sharp downward move. Upon examining the original orientation, the supposed double top pattern is actually a double bottom, which technical analysts often view as a bullish reversal signal.
This reframes the analyst’s warning: what appears at first glance to be a signal for a bearish continuation is, in reality, a setup pointing to a possible strong rally if the key resistance levels are surpassed.
EGRAG CRYPTO is a well-known figure among technical analysts following the $XRP market, frequently sharing chart-based market insights and pattern analyses with tens of thousands of followers on social media.
Mini dictionary: Double bottom, a chart pattern indicating two consecutive lows at a similar level, often signaling a potential bullish reversal after a downtrend is exhausted.
“If the neckline breaks with a confirmed weekly close, the bearish setup could accelerate,” the analyst wrote, though the flipped chart actually points to a potential breakout above resistance rather than a collapse.
Price targets and key zonesThe green arrows on the chart, which seem to trend downward in its inverted presentation, actually trace an upward path on a standard view. This roadmap projects initial resistance at $1.70, followed by a move toward $2.60 once the first level is cleared. Afterward, the next target is the historical all-time high at $3.65, with a final move foreseen above $5.50 in an extended bullish scenario.
Major horizontal levels—identified as resistance and support bands—are observed at $1, $1.70, $2.60, and $3.60, which are expected to play a pivotal role in determining $XRP’s direction in the near term. Tactical traders are closely watching these zones for confirmation before positioning for further moves.
Price LevelSignificance$1.00Key support and resistance cluster$1.70Initial bullish target$2.60Secondary upward target$3.65All-time high target$5.50Extended bullish scenarioPattern confirmation requiredEGRAG CRYPTO advised that no positions should be taken until the setup is verified. He emphasized that confirmation requires a decisive weekly close above the neckline. Until that happens, traders are urged to wait for clear evidence of the breakout pattern. The analyst anticipates significant volatility, with XRP having spent an extended period consolidating throughout 2026.
The development of this pattern on a weekly chart, which reflects several weeks of trading data, adds greater importance to its potential impact. If confirmed, the breakout could set the tone for the next major move in the XRP market.
Traders are encouraged to wait for a weekly confirmation before acting, as the direction of the next large move depends on the resolution of this high-profile pattern.
XRP has reached a significant milestone in adoption, with the XRP Ledger now supporting 8.24 million non-empty wallets. This increase comes during a challenging period for the cryptocurrency, which has seen a 17.21% decrease in price over the past month.
Network growth despite falling pricesOn-chain analytics provider Santiment reported that the XRP Ledger added 4,772 non-empty wallets in a single day, marking the fifth-largest daily increase in wallet growth since March. This continues a broader trend of accumulating new addresses on the network, even as XRP’s price remains under pressure.
Santiment’s data reveals that the surge in wallet creation echoes a previous episode when approximately 4,300 new wallets were activated in one day, a period also marked by significant outbound transfers from large holders.
While the rise in addresses signals growing participation, industry analysts caution that the metric alone does not confirm large-scale accumulation. Cryptocurrency exchanges and individual investors can operate multiple wallets, and the increase may represent broader activity rather than individual adoption.
The network growth stands in contrast to XRP’s market performance, as the token continues to trade below September’s levels. Large XRP holders, often referred to as whales, have intensified transfers to centralized exchanges, which has fueled speculation about increased selling activity.
Whale activity and ETF flowsRecent analysis identified $112.4 million worth of XRP moved from whale-controlled wallets to Binance, representing the largest deposit movement of this kind in seven months. Coinpaper also noted that 1.67 billion XRP entered Binance over a rolling 30-day period, underlining heightened liquidity and possible selling pressure.
While these large deposits do not guarantee immediate sales, the influx increases the supply of XRP available for trading and may contribute to negative price momentum if demand remains subdued.
Institutional demand for XRP has also shown signs of slowing. US spot XRP ETFs recorded $4.25 million in net inflows during the most recent reporting week, following $1.84 million in net outflows the previous week. This moderate uptick trails the $75.6 million that flowed into XRP ETFs for the week ending September 25.
Falling XRP prices have left ETF investors facing substantial unrealized losses, and the pace of new investments has continued to lag behind previous periods when cumulative inflows neared $1.8 billion.
The weaker momentum in institutional flows highlights the sector’s caution amid broader volatility in the crypto market.
Outlook and the role of user participationXRP’s potential for a price rebound may hinge on whether continued wallet growth translates into sustained demand. Santiment highlighted $1.40 as a critical level; if the token holds above this threshold and daily address creation remains around 4,000 or higher, the outlook for a move toward $1.50 would improve.
Conversely, a decline below $1.40, coupled with fewer than 3,000 new addresses per day, would signal weaker short-term adoption and could limit upward movement.
While network-driven signals point to renewed interest, XRP’s recent history shows that increased wallet activity has not always resulted in sustained price gains.
In a rapidly shifting market, marked by the influence of Federal Reserve decisions and surprise altcoin listings, traders are increasingly seeking consolidated platforms for market monitoring. Smart investors now rely on privacy-first solutions like CryptoAppsy, which bring together real-time charts, intelligent price notifications, asset-specific news, and macroeconomic insight in a single interface—without the need for an account—helping to minimize both friction and missed opportunities during critical decision windows.
Franklin Templeton’s tokenized U.S. Treasury Fund, sgBENJI, has grown to $192.698 million on the XRP Ledger (XRPL).
This recent increase has made sgBENJI the largest distributed real-world asset (RWA) on the network, excluding stablecoins, as tokenization continues to gain ground across the XRP ecosystem.
The XRPL has seen strong growth in real-world asset tokenization this year, with more financial products moving onto the network. The latest development involves Franklin Templeton’s sgBENJI fund.
Franklin Templeton’s sgBENJI Expands on the XRP Ledger For context, Franklin offers the sgBENJI U.S. Treasury Fund through the Franklin Templeton Benji Investments division, regulated by Singaporean authorities. The product represents a share of the Franklin OnChain U.S. Dollar Short-Term Money Market Fund.
Although Franklin Templeton launched the asset in 2025, data from RWA.xyz shows that it became available on the XRP Ledger in late July 2026.
The fund currently operates on two blockchain networks: the XRP Ledger and Stellar. It first launched on Stellar in September 2025 before expanding to the XRPL on July 28, 2026, nearly a year later.
When it first appeared on the XRPL, its value on the network stood at $9.71, while the value held on Stellar was $30.164 million.
The fund’s value continued to fluctuate across both networks. By Sept. 11, its value on the XRP Ledger climbed to $48.33 million, while the figure on Stellar fell to $24.95 million.
This marked the first time the XRPL overtook Stellar in sgBENJI value held on each network. At the time, the fund’s combined value across both blockchains had reached $73.28 million.
XRPL Value Surges to $192.698 Million in One Day The fund’s growth accelerated on Oct. 22, when its combined value across the two networks reached $231.18 million.
XRP Ledger holds the larger share of the sgBENJI Fund Of this amount, the XRP Ledger accounted for $192.698 million, marking an increase of $144.368 million in just one day. Meanwhile, sgBENJI’s value on Stellar rose to $38.49 million, an increase of $11.55 million. These figures show that the XRPL now holds more than 83% of the fund’s total on-chain value.
The latest increase has made sgBENJI the largest distributed real-world asset on the XRPL, excluding stablecoins. The network’s total distributed asset value, excluding stablecoins, stands at $641.17 million, with sgBENJI accounting for about 56% of that amount.
Franklin Templeton sgBENJI Treasury Fund now largest distributed RWA on XRP Ledger However, the ranking changes when stablecoins are included. Under this measure, sgBENJI ranks as the second-largest distributed asset on the XRP Ledger, behind Ripple’s RLUSD stablecoin, which has a value of $929.8 million.
sgBENJI Leads XRPL’s RWA Growth Over 30 Days Data from RWA.xyz also shows that sgBENJI is the fastest-growing real-world asset on the XRPL over the past 30 days. Its value increased by 298.7% during that period, while its share of the network’s distributed RWA market, including stablecoins, rose by 303.8% to 11.96%.
Meanwhile, other U.S. Treasury products are also available on the XRP Ledger.
These include Ondo’s Short-Term US Government Bond, worth $185.348 million on the network; Aviva Investors’ US Dollar Liquidity Fund, valued at $50 million; Guggenheim Treasury Services DCP, worth $40.3 million; and the OpenEden TBILL Vault, valued at $20.9 million.
Overall, the XRP Ledger now holds $439 million in U.S. Treasury debt. This represents more than 68% of the network’s total distributed RWA value of $641.17 million, excluding stablecoins.
US Treasury Debt on the XRP Ledger grows closer to $500 million However, when measured against the broader RWA market on the XRPL, which stands at $5.381 billion excluding stablecoins, U.S. Treasury debt accounts for about 8%.
XRP is currently trading at $1.3449, hovering near a key monthly Fibonacci level. Technical analysts have been closely monitoring this price point as discussions about the cryptocurrency’s future trajectory intensify. Market observers note that attention is already shifting to what could come next if current support holds.
Analyst price targets divergeAmong market commentators, Amonyx, a crypto analyst known for his bold forecasts, told his followers on X that the upcoming XRP rally “is going to be incredible.” He urged his audience to “strap in,” signaling strong conviction about continued momentum.
By contrast, Mason Versluis, another well-followed cryptocurrency enthusiast, suggested a more conservative price range. He projected that XRP could reach between $5 and $10 during the next bull run, cautioning against more extreme predictions of $500, $1,000, or even $10,000.
The XRP bull run this cycle is going to be incredible. Strap in!
A TradingView chart from the analyst MikyEdge, published on October 22, highlighted that XRP sits at the 0.236 Fibonacci retracement level of $1.3359. The next resistance levels identified by this analysis are $2.1847, $4.8417, and $7.9180, with these targets aligning with Versluis’s range.
Fibonacci LevelPrice0.236$1.3359Next Major Resistance 1$2.1847Next Major Resistance 2$4.8417Next Major Resistance 3$7.9180Optimistic long-term projectionsSome voices in the community remain more optimistic. Digital Asset Investor, another influencer active in the sector, dismissed calls for caution. He delivered a confident message to his followers, saying, “It is going to be on like Donkey Kong, lock in.”
Digital Asset Investor has also backed an ambitious long-term forecast from Dom Kwok, the co-founder of EasyA, who has previously predicted that XRP could reach $1,000 by 2030. The two maintain that such a target is reasonable, a stance that places them among the most bullish forecasters covering the coin.
Mini dictionary: EasyA, co-founded by Dom Kwok, is a software company focused on blockchain and Web3 developer education through its learning app and bootcamps.
Technical signals and community sentimentAccording to MikyEdge’s monthly chart, XRP is testing an important juncture at the 0.236 Fibonacci retracement. The current position suggests technical support in the $1.10 to $1.40 range, with any sustained hold above this region maintaining a bullish chart formation.
The price action displayed on the chart features an upward projection, with the analyst’s arrow pointing toward targets past $7.9180. Market participants are watching for a breakout that could confirm upward continuation.
Expectations across the XRP community range widely, from Versluis’s $5–$10 target to Digital Asset Investor and Dom Kwok’s $1,000 outlook. This broad spectrum underscores deep divides in sentiment but also a shared anticipation of a major move for XRP in this cycle.
The price is $1.3449 today. The targets range from $5 to $1,000 depending on who you ask. What connects all of them is the expectation that XRP’s next significant move is coming.
Malaysia and Thailand join Singapore’s BLOOM initiative as policymaker members.
The initiative focuses on cross-border payments using stablecoins and tokenized bank deposits.
Ripple, Visa, Mastercard and the World Bank Group are among the participating organizations.
Ripple and Unloq plan to test automated trade payments using RLUSD on the XRP Ledger.
Central banks will examine payment settlement, network compatibility, identity checks and regulatory controls.
Singapore has expanded its BLOOM payments initiative as Malaysia and Thailand join efforts to test cross-border transfers. The work covers regulated stablecoins and tokenized bank deposits.
Singapore Adds Two Central Banks to BLOOM
The Monetary Authority of Singapore confirmed the membership of Bank Negara Malaysia and the Bank of Thailand on Friday. Both joined as policymaker members rather than commercial payment providers.
BLOOM stands for Borderless, Liquid, Open, Online, Multi-currency. Singapore started the project in October 2025 to bring regulators, banks and technology firms together around digital money settlement.
Ripple and Payment Networks Join the Work
Current participants include Ripple, Visa, Mastercard, Airwallex, Maybank and the World Bank Group. Circle, Coinbase, JPMorgan, Standard Chartered and Stripe were already involved in the initiative.
Ripple announced a trial with trade finance company Unloq in March. The partners plan to use RLUSD on the XRP Ledger and release payments when shipment conditions are met. Separately, Cross River Bank is adding Ripple’s RLUSD to its payment system.
The World Bank Group brings experience in international payment systems and financial inclusion. BLOOM participants are examining business payments, company cash management and trade finance.
Banks Examine Settlement and Safety Checks
The central banks will examine how institutions accept and exchange different digital currencies across countries. They will study ways for payment systems to communicate without requiring separate deals in every market.
Tokenized deposits form another part of the work. These tokens represent bank deposits rather than stablecoins issued by private companies. In a separate development, JPMorgan made its JPM Coin deposit token available on Ethereum this week for approved institutional clients.
BLOOM will examine identity checks, sanctions screening and transaction limits. MAS said common operating arrangements could reduce implementation costs while allowing regulators to apply their own national requirements.
Malaysia and Thailand Outline Their Priorities
Bank Negara Malaysia Deputy Governor Aznan bin Abdul Aziz said payments using different forms of digital money were becoming more practical. He welcomed cooperation between central banks and companies.
Rules remain a separate issue for stablecoin providers. This week, the US banking regulator outlined waiver requirements for existing stablecoin issuers, showing how oversight differs between markets. Bank of Thailand Deputy Governor Daranee Saeju said Singapore’s initiative would support its work on rules for tokenized money.
Franklin Templeton, a leading global investment management firm, recorded a notable increase in inflows into its XRP ETF, attracting fresh investor interest despite recent turbulence in the cryptocurrency market. The latest on-chain data shows that the firm’s XRP ETF received $3.55 million in net inflows during the most recent daily trading session on Thursday, even as other XRP-focused exchange-traded funds reported no activity.
Franklin Templeton leads XRP ETF inflowsAccording to SosoValue, a platform that tracks ETF flows, Franklin Templeton’s XRP ETF added approximately 2.71 million XRP during the day, with a total value of $3.55 million in net capital inflow. This surge made the fund the dominant player among XRP investment vehicles for the session, as competing products saw stagnant capital movements.
Franklin Templeton is known for offering a broad range of investment solutions, including both traditional and digital asset products. Its recent activity signals that demand for exposure to XRP in regulated formats persists, even in a subdued market environment.
Mini dictionary: SosoValue, a financial data platform specializing in tracking inflows, outflows, and statistics concerning global spot and crypto-based ETFs.
This inflow has been interpreted as a sign of sustained interest from investors looking to benefit from XRP’s long-term prospects without holding the underlying token directly. While the influx reflected buyer confidence, analysts highlighted market caution as prices continued to fluctuate.
XRP ETF ProviderDaily Net InflowXRP AcquiredOther ETF InflowsFranklin Templeton$3.55 million2.71 million XRP0Competing XRP ETFs000Market momentum and analyst outlookAlthough the demand for XRP-based investment products remains intact, XRP’s price continues to experience volatility, largely due to negative sentiment across the broader cryptocurrency market. Investors remain cautious, as the overall momentum among major digital assets appears bearish with ongoing price corrections.
Despite the recent inflows, market participants have pointed out that Franklin Templeton’s purchase does not guarantee a rapid price rebound for XRP, as its performance is still influenced by broader market trends.
While the recent inflow offers a positive signal for the fund’s ongoing appeal, industry analysts suggest this alone is not enough to trigger an immediate price rally in XRP. Instead, they suggest that consistent inflows could gradually lay the groundwork for improved sentiment and potential upward momentum in the asset’s price over time.
Investor perspective on XRP ETF demandFor investors seeking regulated exposure to cryptocurrencies, ETFs such as Franklin Templeton’s XRP fund provide opportunities to participate in digital asset markets without the need to manage tokens directly. This model has found appeal in both retail and institutional segments, even when the underlying asset faces price pressure.
Sustained demand for the XRP ETF could support bullish momentum for the asset if inflows continue, though market risks remain present in the near term.
China targets a national blockchain network by 2030 under its 15th Five-Year Plan for National Informatization, while keeping its ban on crypto such as XRP and Bitcoin.
China plans to largely complete a national blockchain network by 2030, but the infrastructure is not expected to support public cryptocurrencies such as $XRP or $BTC. Beijing continues to promote blockchain as a strategic technology while enforcing a ban on crypto-related business activity.
What the 15th Five-Year Plan saysAccording to Cointelegraph, the 15th Five-Year Plan for National Informatization was issued by the Central Cyberspace Affairs Commission, a senior Communist Party body that coordinates digital development policy. The plan calls for deeper blockchain use in trade and finance in the Yangtze River Delta, and large-scale deployment in manufacturing and agriculture in the Chengdu-Chongqing region in southwestern China.
The document also calls for stronger blockchain technical standards and wider use of the technology in data circulation and trading, per the same report. It sets an explicit completion target for a project that was already part of China's national development plan released in March. A joint policy from the Communist Party's central leadership and the State Council, published on Oct. 9, had earlier called for the network to be built.
The informatization plan lists the national blockchain network alongside other 2030 goals, including a fully built new-generation communication network and the commercial launch of 6G at an appropriate time, according to a summary published by PANews.
Under the plan, distribution nodes are being set up around business centers. They are expected to focus on cross-border trade and clearing in the Yangtze River Delta, and on logistics tracing in the Chengdu-Chongqing industrial belt.
Blockchain yes, crypto noThe push for state-backed blockchain infrastructure sits alongside a firm stance against digital assets. Cointelegraph noted that mainland China bans cryptocurrency-related business activities while promoting blockchain technology as a national priority.
That position was reinforced last year. According to Payment Expert, the People's Bank of China convened 13 agencies on Nov. 28, 2025 to reaffirm the ban on crypto trading and flag stablecoins as a new enforcement focus. The central bank said stablecoins cannot effectively meet customer identification and anti-money laundering requirements, as reported by CoinGeek.
For holders and traders of $XRP, $BTC and other tokens, the message is consistent: the network is designed as state infrastructure for trade, logistics and data, not as a route for public crypto assets to gain access to the mainland market. The plan does not name specific tokens, so any implication for individual assets such as XRP remains an inference from China's wider policy.
Sources:
Cointelegraph: China targets 2030 for its national blockchain network buildout
Payment Expert: PBoC targets stablecoins in renewed China crypto crackdown
CoinGeek: China's central bank reaffirms commitment to digital asset ban
Ripple (XRP) price remains near a crucial support zone between $1.28 and $1.30 despite analysts’ consensus leaning slightly bullish amid an increase in inflows to spot XRP ETFs.
On-chain data also shows that whales are increasingly selling XRP as the sentiment across the broader crypto market today shifts ahead of the upcoming US elections.
XRP Whale Inflows to Binance Hit 7-Month High Data from CryptoQuant shows that the whales transacting more than 1 million XRP are increasingly sending their tokens to exchanges.
The data shows that since August, the monthly average whale inflows to Binance have risen by $72 million to $112.4 million. This marks the highest monthly average of whale inflows since March 2026.
Source: CryptoQuant Analyst DarkFost notes that the inflows coincide with gains in the value of XRP from below $1 in August, which has encouraged these large holders to book profits.
An earlier report by CoinGape also noted that XRP inflows to exchanges recently rose to the highest level in seven months.
ETF Inflows Surge on Rising Network Activity Data from SoSoValue shows that XRP ETFs recorded $3.55 million in inflows on October 22. This was a stark contrast to the outflows of $635 million and $110 million, recorded by Bitcoin and Ethereum ETFs, respectively.
XRP ETFs have now seen inflows of $4.25 million this week alone, with this also marking a shift from the outflows of $1.84 million seen last week.
Source: SoSoValue The ETF inflows coincide with a surge in network activity after the number of non-empty wallets on XRP Ledger reached a record high of 8.24 million.
The number of new wallets also rose to 4,772 within a single day, with this being the fifth-highest daily increase since March per Santiment data.
The rise in network activity coincides with multiple partnerships with Ripple. As CoinGape reported earlier, Ripple partnered with Arf to boost RLUSD settlement on the XRP Ledger.
XRP Price Holds Key Support Level XRP price remains above the support zone between $1.28 and $1.30. The price has bounced from this zone twice before, suggesting that it could be acting as a good entry point for buyers.
The RSI reading at 42 suggests that the momentum is leaning bearish even as the crucial support level holds.However, the ADX line that is tipping south and has a reading of 20 suggests that the downtrend remains weak.
If XRP price loses this crucial support zone, it might crash to the psychological support at $1.
Source: TradingView However, if buy-side pressure rises after the bounce from this zone, XRP price could move to the 61.8% Fib of $1.40. If it closes above this Fib, it could extend the gains towards $1.65.
Evernorth CEO Asheesh Birla says the company’s Nasdaq debut marks a major milestone for XRP (CRYPTO: XRP).
The company plans to deploy its 473 million XRP holdings gradually into institutional lending and DeFi opportunities prioritizing security, liquidity and sustainable returns.
Speaking on the Thinking Crypto podcast, Birla outlined Evernorth’s plan to become more than a passive crypto treasury company.
Unlike Bitcoin treasury firms such as Strategy (NASDAQ:MSTR), Evernorth plans to generate risk-adjusted yields from its XRP holdings through TradFi strategies and emerging on-chain protocols.
"With Bitcoin (CRYPTO: BTC), you can move, you can hold, but you can’t really do much on-chain," Birla said.
He pointed out Evernorth’s primary performance metric is to maximize XRP per share, although he declined to disclose future acquisition plans.
Evernorth is trading under Armada Acquisition Corp II (NASDAQ:XRPN).
XRP Lending, DeFi Could Drive Institutional DemandBirla expects XRP Ledger lending, vaults and DeFi applications to attract institutional capital and expand XRP liquidity.
Evernorth is evaluating on-chain partners, while growing tokenization could boost demand for blockchain-based lending and settlement.
However, Birla emphasized risk management before deploying treasury assets.
“We’re going to take it slow and build methodically,” he said.
Why XRP’s Nasdaq Debut Is a Turning PointBirla described Evernorth’s public listing as validation of XRP’s original focus on financial services, saying its institutional use cases are now materializing on Nasdaq.
He cited growing participation from BlackRock (NYSE:BLK), Morgan Stanley (NYSE:MS) and Wells Fargo (NYSE:WFC) as evidence of traditional finance embracing blockchain.
Birla expects tokenization and 24/7 markets to expand access to financial assets.
Evernorth looks to focus on deploying its XRP treasury and developing institutional-grade infrastructure on the XRP Ledger.
Image: Shutterstock
Read Next
Market News and Data brought to you by Benzinga APIs
SRH, a US-based investment adviser with $3 billion in AUM, has reported holding 27,301 shares of Franklin Templeton’s Franklin XRP ETF (XRPZ).
The firm disclosed the XRP ETF investment, worth about $441K, in a quarterly Form 13F filing with the US Securities and Exchange Commission (SEC).
Notably, institutional investment managers with more than $100 million in assets under management must file these reports every quarter to disclose their long positions in US equities.
SRH’s investment adds to the expanding number of US financial firms gaining exposure to XRP through regulated exchange-traded products. However, Form 13F filings only show an institution’s holdings at the end of a quarter, so SRH’s current position may be different from the amount it reported.
US wealth manager SRH reveals investment in Franklin XRP ETF The Franklin XRP ETF Franklin Templeton launched the Franklin XRP ETF on NYSE Arca in November 2024. Trading under the ticker XRPZ, the fund operates as a passively managed grantor trust that holds XRP directly and tracks the CME CF XRP-Dollar Reference Rate.
Importantly, it charges a net expense ratio of 0.19%, which makes it one of the lower-cost regulated XRP investment products available to US investors. Over the past 52 weeks, the fund’s share price has ranged from $10.77 to $26.09.
On Oct. 22, XRPZ recorded $3.5464 million in net inflows in a single day, bringing its cumulative net inflows since launch to $519 million.
Across all spot XRP ETFs, total net assets stood at $1.488 billion, while cumulative net inflows reached $1.804 billion. During the third quarter of 2026, XRPZ attracted $90.64 million in net inflows.
Wall Street’s Expanding XRP ETF Footprint SRH’s disclosure follows a series of institutional filings showing that more traditional financial firms are investing in XRP ETFs.
Goldman Sachs reported $86.5 million in XRP ETF holdings as of June 30, 2026, in its SEC Form 13F filing. The investment covered five spot XRP ETFs, including approximately $25.76 million in the Bitwise XRP ETF and $25.41 million in Franklin Templeton’s XRPZ.
Bloomberg Intelligence’s review of second-quarter 2026 filings ranked Goldman Sachs as the largest institutional holder of spot XRP ETFs, ahead of Jane Street Group and Millennium Management.
Morgan Stanley also reported holdings across several XRP investment products in its latest Form 13F filing. The firm held 6,715 shares of Franklin’s XRP ETF, 255 shares of the REX-Osprey XRP ETF, and 67 shares of the Bitwise XRP ETF.
AdvisorNet Financial disclosed 12,380 shares of Franklin’s XRP ETF, worth approximately $177,800, in its third-quarter 2026 filing.
Meanwhile, UMB Private Wealth Management reported an XRPZ position valued at $100,316 as of Sept. 30, 2026. In addition, Vista Finance disclosed 129,958 shares of the Franklin XRP Trust ETF worth approximately $11.45 million.
XRP ETF Market Performance Spot XRP ETFs have continued to perform impressively this year. The products attracted $307.87 million in net inflows during the third quarter of 2026. July accounted for $27.29 million, August brought in $159.18 million, and September added $121.40 million.
Over the same period, XRP’s price rose by more than 45%, climbing from $1.04 to $1.51. The Bitwise XRP ETF led the market with $177.94 million in third-quarter inflows, bringing its total assets to $618.81 million.
However, the market saw some withdrawals in October. During the week ending Oct. 16, 2026, US spot XRP ETFs recorded approximately $1.84 million in net outflows, ending a 13-week streak of consecutive inflows.
Despite this setback, cumulative net inflows approached $1.8 billion, while ETF assets remained around $1.47 billion. On October 22, XRPZ helped restore positive momentum by accounting for the entire $3.5464 million in daily inflows.
Ripple, a leading enterprise blockchain solutions provider, has partnered with Arf, a Swiss financial technology firm, to deliver stablecoin-powered financing on the XRP Ledger (XRPL). This collaboration aims to connect the XRPL blockchain with Arf’s existing payment operations, which handle approximately $10 billion in settlement volume each year.
Stablecoin-Powered Working Capital SolutionsArf announced on October 22 that it will use Ripple’s RLUSD stablecoin to provide short-term working capital for licensed cross-border payment companies. These financing arrangements typically last between one and five days, enabling companies to quickly reuse capital as international settlements close.
Cross-border remittance providers often require instant access to liquidity in destination markets, even before customer transactions finalize. With billions of dollars moving across various currencies and banking frameworks, this need often causes a liquidity shortfall.
Arf addresses this challenge by supplying settlement liquidity: it advances funds during payment processing and recovers the amount once transactions complete. The company reports that its working capital cycles about four times per month, helping the same pool of funds to back numerous transactions.
Arf said it will directly supply RLUSD-denominated liquidity on XRPL and retain control over lending decisions and borrower evaluations under the partnership.
The deal builds on Ripple’s recent collaboration with financial infrastructure firm DriveWealth, which linked RLUSD with a brokerage funding platform serving more than 100 institutional partners.
Ripple has also strengthened XRPL’s payment ecosystem through integrations like Stripe-owned Privy, which bring support for embedded wallets and automated crypto transactions.
Onchain Lending Protocol Proposed for XRPLLooking ahead, Ripple and Arf are exploring broader onchain financing through the XRPL’s proposed native lending infrastructure. This development could eventually allow Arf to conduct a greater share of its financing directly on the blockchain network.
The proposed architecture includes Single Asset Vaults—pools that collect working capital—and a Lending Protocol optimized for structured loan arrangements. Unlike many decentralized finance platforms, this model is designed around offchain credit assessment and underwriting, reducing reliance on excessive collateral requirements.
Arf has already begun building services based on this proposed infrastructure. However, the project’s deployment depends on achieving sufficient votes from XRPL validators.
As of October 20, validator support for the new modules remained below the required threshold: just 19 validators supported LendingProtocol and 21 for SingleAssetVault, while 29 votes were needed.
This initiative follows Ripple’s earlier institutional credit efforts in partnership with Clearpool and Cicada Partners, which also used RLUSD to finance operational business needs on blockchain rails.
Mini dictionary: Arf is a Swiss fintech firm offering digital liquidity and settlement services to licensed financial institutions, specializing in real-time cross-border payment solutions.
FeatureRLUSD on XRPLTraditional SettlementLiquidity typeStablecoin-based (RLUSD)Bank-based fiatCapital reuse cycle1–5 daysSeveral days to weeksGlobal reachOnchain, cross-borderCountry specific, often fragmented
Bitcoin price hovered at $81,595 on October 23, ahead of the November 3, 2026, US midterm elections.
Ethereum price traded at $2,397, and XRP traded at 1.32, as per CoinMarketCap. The upcoming vote has revived discussion on the downturns of Bitcoin after four prior midterm election cycles.
US Midterm Election: November 3, 2026
Americans will vote on Tuesday, November 3, with all 435 House seats and 35 Senate seats being contested. The Senate elections have 33 regular elections and two special elections.
The midterms are in between the second term of President Donald Trump, both the houses of the congress are in the line to control. In 36 states, voters will also elect governors and decide on many state legislative races.
The result may have an effect on the law of cryptocurrency by altering the partisan composition of congressional committees and the overall legislative agenda. Voting is already going on in the United States, and the voting pattern and deadline vary among states.
Bitcoin’s Record After Four Midterm Elections
Analyst Ali Martinez pointed to the pattern in an election comparison prior to this year’s election.
He has graphed the decline of Bitcoin after the 2010 midterms and the 2014 elections, which were 72% and 65%, respectively. Since the 2018 election, the drop has been to 52%, and since the 2022 midterm elections, to 27%, according to his analysis.
https://t.co/sT0b0k3eDK
— Ali Charts (@alicharts) October 23, 2026
But Martinez said the observations don’t necessarily prove that elections caused the losses. The comparison is only for four cycles, which may not be useful as a standalone forecasting tool.
Bitcoin Price Prediction: Will BTC Hold $80,500 or Slide Toward $79,000?
As of the writing, the BTC price stood at $81,515 on the supplied Binance four-hour chart.
The relative strength index (RSI) was at 43.21, just below the 51.22 moving average and the 50 neutral level.
The MACD line was at -190.80, indicating that the line is below the signal line at 4.01, and the histogram was at -194.81.
Source: Tradingview
The psychological level of $80,000 would be in focus in the bear scenario, if it is closed below $80,500 for 4 hours.
But $80,500 will allow one more try to recover the $82,000, leaving a recovery scenario alive. If the breakout is sustained above resistance, then the target future Bitcoin outlook could be set at $83,500 which is resistance plus the height of the range.
FedWatch Shows 91.7% Chance of Rate Hold at October 28 Meeting
The market has priced in an FED pause leading up to the Oct 28, 2026 policy meeting. The FedWatch chart provided shows a 91.7% chance of no change in interest rates, indicating high confidence in the stability of rates. That would keep the federal funds target range unchanged at 3.75% – 4.00%.
Fedwatch data
An 8.3% probability, meanwhile, exists that an increase to 4.00%–4.25% will occur, making further tightening less likely. The chart shows that, at 0%, buyers of rate cuts give no odds to any chance of a rate cut, indicating market expectations are firmly in favour of a policy hold.
In brief
Ethereum developers have called off Monday's Glamsterdam upgrade on the Hoodi testnet after auditor ChainSecurity flagged security issues with its gas changes.
The firm said the changes could let some smart contracts permanently record failed operations that their code was designed to keep retryable.
ChainSecurity said it has found 13 real-world examples and is contacting affected projects, as the Ethereum Foundation assesses how many contracts are exposed.
Ethereum developers have postponed the planned activation of the network's Glamsterdam upgrade on its Hoodi test network after security firm ChainSecurity found problems with how the upgrade changes gas, the auditor said on Thursday.
"It has just been decided to delay the Glamsterdam hard fork on the Hoodi testnet because of security impacts we identified," ChainSecurity wrote, adding that it had "already found 13 real-world examples" and was in responsible disclosure with the affected projects.
⚠️ It has just been decided to delay the Glamsterdam hard fork on the Hoodi testnet because of security impacts we identified in this blog post: https://t.co/UCpy6Jp5Pa
We already found 13 real-world examples and are in responsible disclosure with the affected projects.
Please…
— ChainSecurity (@chain_security) October 22, 2026
The upgrade had been due to go live on Hoodi on Monday. Node operators should revert to an older software release without the upgrade scheduled, or wait for their execution client team to release a new version that cancels it, Ethereum researcher Christine Kim said. Preston Van Loon, a developer on the Prysm consensus client, said a Prysm release removing the upgrade from Hoodi's schedule would follow the same day.
Gas is the fee paid for computing work on Ethereum. Glamsterdam changes how the network charges for creating and accessing stored data through two proposals, EIP-8037 and EIP-8038, and introduces a separate pool of gas for creating new state.
Myriad: Where does ETH go next? Click to make your prediction.According to ChainSecurity's analysis, those changes break assumptions that many contracts rely on when an external call fails. Some contracts use gas checks, or rely on the call running out of gas, to stop an attacker from deliberately supplying too little gas so that a valid operation fails and is recorded as a permanent failure, a tactic known as insufficient gas griefing.
Under Glamsterdam, gas can be refilled or returned to a contract after a failed call, and repricing can change how much gas a call needs, the firm found. "Even with unchanged contract code, a failure path that previously reverted can now complete," it wrote. ChainSecurity urged projects to check their contracts, saying the Ethereum Foundation is working out how many are affected.
Glamsterdam's road to mainnetGlamsterdam has already gone live on Sepolia, another Ethereum test network, which activated the upgrade on October 6 and began producing blocks with a gas limit of nearly 200 million, more than three times mainnet's 60 million. The upgrade also adds block-level access lists, which let computers check transactions in parallel, and moves the auction that decides who assembles each block into Ethereum's own rules.
Developers had aimed to ship Glamsterdam on mainnet by the end of 2026, ahead of Hegotá, the next upgrade, which is expected in 2027 and could add native privacy features. No new date has been set for the Hoodi fork.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Join 72,000+ readers
Create an account to save your articles.
Add on Google
Add Decrypt as your preferred source to see more of our stories on Google.
Ethereum price has remained under pressure near $2,400 on October 23 as renewed ETF withdrawals, selling by an early investor and cautious market sentiment complicated the cryptocurrency’s recovery.
Summary
Ethereum traded near $2,395 on October 23 as sellers kept ETH below $2,500. U.S. spot Ethereum ETFs recorded $110.6 million in withdrawals on October 22. Ethereum developers postponed Glamsterdam’s Hoodi testnet activation while investigating smart-contract compatibility risks. Lookonchain reported that an early investor sold 3,000 ETH worth approximately $7.2 million. Ethereum’s RSI stood at 39.83, with $2,350 support and $2,500 resistance in focus. According to crypto.news market data, ETH traded around $2,394.57, down approximately 0.25% over 24 hours, with trading volume near $11.62 billion. The cryptocurrency has struggled to regain $2,500 after retreating from its October highs, while buyers attempt to stabilize prices above $2,350.
Why is Ethereum price down today? Ethereum’s latest weakness coincided with another round of withdrawals from U.S. spot exchange-traded funds. According to SoSoValue data, U.S. spot Ethereum ETFs recorded approximately $110.6 million in net outflows on October 22, with BlackRock’s ETHA reportedly accounting for a significant share of the withdrawals.
U.S. spot Ethereum ETFs flows, source: SoSoValue The withdrawals followed a difficult period for institutional demand. During October 12–16, Ethereum ETFs lost roughly $320 million, according to data examined in previous ETF flow coverage. BlackRock’s fund accounted for nearly $299 million of those weekly withdrawals.
Beyond investment products, renewed geopolitical tensions and elevated oil prices weighed on cryptocurrency sentiment. Bitcoin remained near $81,500 at press time, suggesting that Ethereum’s decline occurred alongside weakness across major digital assets.
Ethereum price history shows an October trading range between approximately $2,335 and $2,754. With ETH trading below its monthly opening level near $2,685, buyers have struggled to recover the losses accumulated during the month.
Ethereum’s Glamsterdam upgrade faces testnet delay Another development attracting attention was the postponement of Ethereum’s Glamsterdam upgrade on the Hoodi testnet. The Ethereum Foundation confirmed the delay on October 22 after developers identified potential compatibility concerns involving EIP-8037 and existing smart contracts.
The upgrade had been scheduled for October 26, but developers withdrew that activation date while they investigate the issue. The associated proposal to raise Hoodi’s gas limit to 200 million was withdrawn from the planned activation.
As crypto.news reported on Glamsterdam, the postponement concerns the testnet schedule, not a failure of Ethereum’s mainnet. Developers have not announced a replacement Hoodi activation date or confirmed when Glamsterdam will reach mainnet.
The Ethereum Foundation advised Hoodi node operators and validators to review their client configurations before October 26. Ordinary ETH holders and mainnet users do not need to take action because of the schedule change.
Early Ethereum investor sells 3,000 ETH after nine years Meanwhile, blockchain analytics firm Lookonchain reported that an early Ethereum investor sold 3,000 ETH worth approximately $7.2 million after holding the tokens for nearly nine years.
The wallet reportedly acquired the cryptocurrency for around $56,000 when ETH traded below $19. At the reported sale value, the position generated proceeds equivalent to roughly 129 times its original purchase cost, excluding transaction expenses.
Other longtime holders have moved significant amounts of Ethereum during October. One investor deposited 6,369 ETH worth approximately $16 million to Kraken, while another transferred 13,330 ETH to Coinbase.
Such deposits can indicate preparations to sell, although exchange transfers alone do not prove completed sales. Previous Ethereum whale transaction reporting documented large transfers by early holders without establishing that every deposit resulted in market selling.
Ethereum price prediction: Can ETH hold $2,350? The Ethereum price TradingView-style daily chart showed ETH trading at $2,398.79, gaining 0.40% during the chart session. Despite that modest recovery, the cryptocurrency remained below $2,500, with its technical indicators continuing to favor sellers.
The Relative Strength Index stood at 39.83, slightly below its moving average of 40.24. The indicator remained above the oversold threshold of 30, suggesting that selling momentum had moderated without confirming a sustained recovery.
Ethereum price chart, source: crypto.news Meanwhile, Bull Bear Power registered -102.25, showing continued bearish pressure. The contraction in negative histogram bars indicated that sellers were losing some momentum compared with previous sessions.
Crypto analyst CryptoBusy identified $2,350–$2,480 as an important support region. A recovery above $2,500 could bring $2,800 into consideration, while losing $2,350 could expose $2,200.
$ETH is trading around $2,420, testing a major ascending trendline and the $2,350-$2,480 support zone on the daily chart.
This is an important area for ETH after its recent correction from $2,700.
If buyers defend $2,350, ETH could recover toward $2,500, with $2,800 as the next… pic.twitter.com/Og1oOcmkxe
— CryptoBusy (@CryptoBusy) October 23, 2026 Another analyst, Ella, identified $2,375–$2,390 as an immediate support area. Her analysis placed $2,425 and $2,460 as recovery levels, with $2,330 becoming relevant if support fails.
Moreover, trader Ted Pillows noted that ETH remained below its 50-day simple and exponential moving averages. He said buyers would need to reclaim those indicators with stronger spot demand before the technical picture improves.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
The October 26 Hoodi test has been pulled, including its planned 200 million gas limit. Developers are examining a repricing proposal against contracts already on mainnet.
Summary
Ethereum’s developers postponed Glamsterdam’s October 26 Hoodi activation at epoch 132,352, with no replacement date set.
The delay follows questions about how EIP-8037, which raises the cost of creating chain state, interacts with existing mainnet smart contracts.
The Amsterdam execution and Gloas consensus activations were both removed from Hoodi’s schedule, along with the planned move to a 200 million gas limit.
Ethereum’s earlier transaction replay found most contracts unaffected, but flagged a small set relying on fixed gas stipends, hardcoded limits or remaining-gas logic.
Hoodi operators must check execution and consensus client instructions so their software does not still activate the old fork on October 26.
Ethereum has called off a test that was due to run next Monday. The Ethereum Foundation’s October 22 notice says Glamsterdam will not activate on Hoodi at 17:42:48 UTC on October 26, and no new epoch has been set. The accompanying gas-limit increase to 200 million has been taken off the testnet’s schedule as well. This is a postponement of future configuration, not a reversal of blocks already recorded by Hoodi.
Developers made the decision to investigate how EIP-8037, a change to the price of creating new Ethereum state, interacts with contracts on mainnet. The Foundation has not said the upgrade has broken mainnet. It has not put a date on a production fork either. The immediate operational risk is on Hoodi: clients or custom configurations still carrying the old activation time could disagree with the revised schedule. The deeper question is how to change the cost of work inside a transaction without upsetting applications that embedded the old numbers in code.
Hoodi’s October 26 fork is off the calendar
The October 16 Hoodi announcement specified epoch 132,352 and slot 4,235,264. It paired the execution-layer Amsterdam changes with the consensus-layer Gloas changes and a 200 million gas limit. The new notice supersedes those instructions in full. Operators should read the latest release notes for both types of client; an earlier release described as Glamsterdam-compatible may still contain the now-cancelled Hoodi activation.
JUST IN: Ethereum delays Glamsterdam upgrade on Hoodi testnet
The Ethereum Foundation postponed the Oct. 26 activation to review how EIP-8037 interacts with mainnet smart contracts, with no new date announced. pic.twitter.com/F2HmXs1meR
— crypto.news (@cryptodotnews) October 23, 2026
That is more than a scheduling footnote. A validator needs to follow the same network rules as its peers. If part of its software expects new execution rules or consensus duties at the old epoch while the network does not, it can lose the ability to follow the canonical chain. Builder and validator infrastructure may have their own configuration. The Foundation therefore tells operators to verify revised client versions and remove stale custom settings before October 26, rather than assume that doing nothing is safe because a fork was delayed.
Sepolia activated Glamsterdam on October 6 and tested a 200 million gas limit, as coverage of that activation recorded. One testnet’s successful activation is useful but not conclusive for another. Hoodi’s remaining rehearsal has been postponed precisely because the contract investigation needs time. There is no published replacement timestamp to extrapolate into a mainnet date.
Glamsterdam activated on Sepolia on October 6, where developers tested a 200 million gas limit. The successful test does not settle how EIP-8037 will affect contracts already running on mainnet. Hoodi’s rehearsal is postponed while developers investigate those interactions, and no replacement date has been announced.
The sequence has changed more than once this year. September reporting on the Sepolia plan described devnet problems and an EIP-8037 implementation issue before the public test proceeded. Those earlier problems are not proof of the same cause as the October 22 contract inquiry. They show why the dates have been conditional as client teams move from private trials to public networks. Separate concerns about builder behavior on testnets concern another part of Glamsterdam and should not be conflated with repricing. The latest notice gives one specific reason for the Hoodi pause: further investigation of EIP-8037’s interaction with mainnet contracts.
Why creating state costs more in the proposal
A transaction can execute calculations and it can leave data that the network must retain and access later. Creating a new account, opening a new storage slot or deploying contract bytecode adds to that persistent state. EIP-8037 proposes charging more for those operations and metering the state-creation part separately. The aim is to put the price closer to the longer-lived burden on nodes, especially if blocks are allowed to carry more work.
The proposal’s illustrative table puts a new account’s state-creation component at 183,600 gas, compared with a current 25,000; a new storage slot at 97,920, compared with 20,000; and a 24 kilobyte deployment at 37,784,880, compared with 4,947,200. The table is not a universal prediction of the ETH fee a user will pay. It isolates a component under a proposed constant, with other execution charges on top, and the final currency cost depends on the gas price at the time. The size of the change explains why contracts with tight limits deserve a closer look.
A related state-access proposal, EIP-8038, reprices some reads and writes. The Foundation’s developer impact guide says these gas costs were last substantially adjusted in the Berlin fork in 2021, while the state has grown. The planned repricing was designed alongside work to raise throughput; making blocks larger without accounting for expensive state operations could make validation harder for node operators. The pause therefore touches both application compatibility and the scaling plan, although its announced trigger is the EIP-8037 interaction.
An external call shows why this can be difficult to notice in advance. A caller may deliberately pass only enough gas for a recipient to perform a limited action, assuming that any further work will fail safely. If a repriced account or storage access now consumes that allowance, the recipient may fail during a routine payment, even though the user supplied plenty of gas to the outer transaction. Changing the wallet’s estimate does not rewrite the internal allowance. Developers need to inspect the code path and the failure handling around it, because some applications regard a failed external call as a reason to revert while others continue and record a different outcome.
The Solidity transfer and send patterns historically forward a 2,300-gas stipend. Many teams have already moved away from relying on that stipend, but deployed contracts can remain in use for years. The Foundation identifies fixed stipends as one risk category; it does not say every call using them will fail. A recipient that performs little work may remain within the allowance, while a contract that touches newly repriced state can exceed it. Testing actual counterparties matters more than treating the mere presence of a function name as proof of breakage.
A second class of problem lies in automation. Wallets, relayers and custodians may store default gas limits for regular tasks. An operation that ran successfully for years could start running out of gas even though the application contract itself is sound. Raising an estimate at the frontend can fix that route, but a scheduled agent or a customer using an older wallet may continue to submit the previous limit. Developers therefore have to identify not only the affected code, but also the services that construct transactions for it.
Which contracts can run into trouble?
The Foundation replayed historical mainnet transactions under the proposed schedule. Most had no meaningful problem. Of the flagged cases, many completed after their gas limit was raised; a smaller group could fail even with substantially more gas. A fixed stipend, a hardcoded amount of gas sent into another contract, or a branch based on the result of gasleft() can change the path a transaction takes. The earlier contract warning described those categories before Hoodi acquired its October date. The current postponement makes the unanswered cases urgent, but it does not show that all Ethereum contracts are vulnerable.
Consider an application that sends funds to another contract while providing a fixed gas allowance. The receiving contract may need more gas under the new schedule to touch storage. If the caller’s allowance is embedded in deployed code, simply raising the top-level transaction limit may not give the receiving call more room. A failure could then require a contract-level fix or a different route for users. By contrast, if the only problem is that a wallet estimated a transaction using old prices, updated estimation and a higher supplied limit may be sufficient. The two cases are operationally distinct.
JUST IN: Vitalik Buterin says Ethereum should move cryptography off-chain
He argues that heavy computations should be proved with STARKs off-chain and verified through EIP-8288, reducing blockchain data demands while letting developers use different cryptographic systems without… pic.twitter.com/6wn2Gi1s8g
— crypto.news (@cryptodotnews) October 19, 2026
A particularly unusual EIP-8037 issue involves code that measures work by subtracting two readings of remaining gas. The proposal explains that the state-gas reservoir can make gasleft() rise under some circumstances. A calculation expecting a nonnegative decrease could behave differently, and immutable deployed contracts cannot be patched in place. The precise impact depends on the code and transaction path, which is why a replay of actual historical transactions matters more than a generic warning about higher fees.
The Foundation’s search tool lets builders examine affected contract addresses and the reason for a flagged divergence. It recommends testing on a devnet using the new schedule and inspecting code that assumes fixed limits even when a contract does not appear in the list. A historical replay is a screen, not a full inventory of future behavior: a route that no user called during the sample could still contain a vulnerable assumption. Teams need their own tests for the branches they operate.
The result of a replay also depends on the transaction sample. A contract may contain a fixed gas allowance in a function that has rarely been called; if that route is absent from the replayed history, the tool cannot demonstrate its failure. The Foundation advises maintainers to check code even when its address does not appear in the affected list. A large application may have several contracts, upgradeable frontends and automated agents, each supplying a different gas limit. The team needs to test the operation as its users actually invoke it, including a wallet or bot that may be holding an old estimate in a cache.
For a contract whose behavior changes, fixing the interface that submits transactions is not always enough. If an internal call’s gas allowance was compiled into immutable code, its owner may need a migration to a new contract. Such a migration can involve moving balances, approvals or user permissions, and communicating the new address. The difficulty depends on the product’s design; there is no evidence that every flagged contract requires that work. This is precisely why the distinction between a limit-fixable failure and a potentially broken contract matters to both the team and its customers.
The testing guidance is especially relevant to applications that use account abstraction or multiple contract calls to complete one user action. A checkout may approve an asset, route a swap and settle a merchant in one sequence. If an internal step uses a hardcoded allowance, the customer can see a failed payment without knowing which contract hit the limit. Replaying the whole sequence under the proposed rules is more informative than checking each contract’s public method in isolation. Maintainers should record the first failing step and whether a larger outer gas limit actually changes the outcome.
Contracts can also behave differently after a failed call rather than simply stopping. A fallback that logs an event, credits an internal balance or tries a second route may continue under conditions its original authors never expected. Such divergence is why a test result described only as “transaction succeeded” can be inadequate. The output state and events need comparison with the old execution. The Foundation’s category of successful execution with changes captures this possibility without declaring it automatically harmful.
Wallets, RPCs and factories face different work
Wallets and remote procedure call providers estimate the gas a transaction needs before a user signs. EIP-8037 says eth_estimateGas and node software must account for both execution gas and the new state-gas dimension. An old cached constant can underestimate a state-heavy transaction. Users may then see failed transactions, even if the contract would work with a properly estimated limit. Infrastructure updates are therefore part of compatibility, not merely a convenience layered over the protocol.
Deterministic deployment factories present another narrow case. EIP-8037 discusses factories originally placed at standard addresses using presigned transactions with hardcoded gas limits. On a fresh network that adopts the new schedule before the factory exists, the old presigned deployment could run out of gas. The proposal explicitly says already-deployed instances on existing mainnet and layer 2 networks are not affected by that particular genesis scenario. Reporting the caveat matters: it would be misleading to suggest that every factory already used on Ethereum is about to vanish.
Builders also need to distinguish an unchanged contract from unchanged costs. A transaction may succeed but consume a different amount of gas. A business that batches deployments or creates many storage slots could face a materially different cost structure even when no function fails. Its product may need different fee quotations, a revised subsidy policy or a change in how it stores information. The Foundation’s replay categories separate identical execution, changed but successful execution, limit-fixable failures and potentially broken contracts for just that reason.
The numbers in EIP-8037 deserve another qualification. Its example converts proposed gas to ETH using an assumed base fee of 0.08 gwei. If the base fee changes, the ETH paid for the same gas changes too. A developer comparing the table with an existing bill must add execution charges and the actual transaction conditions, rather than present a sevenfold state-cost change as a sevenfold increase in a user’s complete payment. The proposal’s purpose is to assign costs to resources; a person’s final fee depends on the mix of those resources in the transaction.
The scale of proposed repricing should be read alongside the capacity objective. More room for transactions in a block can make the network expensive to validate if those transactions disproportionately create persistent state. EIP-8037 assigns a separate meter to that growth so the cost does not disappear inside a larger headline gas limit. EIP-8038 addresses accesses to existing state. They solve different parts of the resource question, and a working block builder alone cannot establish that applications handle the repricing correctly.
Ethereum’s block access lists have a separate task. They tell clients which accounts and storage locations a block touches, helping organize some validation work in parallel. That may allow greater throughput under favorable conditions, but it does not erase the persistent storage added by new accounts and slots. A testnet needs to run the combined upgrade under realistic activity because an improvement in one dimension can expose a constraint in another. The postponement leaves that combined Hoodi exercise undone for now.
Many users will first encounter these changes indirectly, through their wallet’s quoted gas limit or an application’s fee estimate. A transaction that creates no new state may see a different effect from one deploying a sizable contract. A trading interface that promises a fixed transaction cost would need to check whether its promise still covers the operations it performs. Generalizations about all Ethereum fees moving in one direction would be premature without a final mainnet schedule, observed demand and the final parameters.
The 200 million figure was a testnet setting
Glamsterdam combines more than repricing. Enshrined proposer-builder separation changes the handoff of a block payload, while block-level access lists help clients identify the accounts and storage a block will touch. Developers planned to test those changes with a 200 million Hoodi gas limit, matching Sepolia. The figure was a testnet parameter. It was never a promise that Ethereum mainnet would immediately adopt the same limit or that user fees would fall by a certain percentage.
Removing the Hoodi gas-limit schedule keeps the postponed fork’s components together. Operators will not be testing the intended higher capacity under Glamsterdam on that network next Monday. Developers can still use Sepolia and purpose-built devnets to investigate the effects of repricing. The missing Hoodi rehearsal affects the sequence in which client teams can gain confidence before choosing a mainnet time, but the Foundation has not published a revised production timetable.
The economics are less straightforward than a slogan about cheaper gas. Charging more for creating durable state can make a particular transaction costlier at the same gas price. A larger safe capacity, if later adopted and used, could ease congestion in other conditions. Demand determines how much block space users bid for, and the final protocol settings determine which operations become more or less expensive. Neither the pause nor a successful test would settle those market variables by itself.
Public coordination has costs, but proceeding with a known uncertainty can have greater ones. Operators prepared software for the old epoch and now must remove that schedule; application developers have to keep testing against a proposal whose final shape may change. The cost of that reset is visible. A mainnet rule that caused a widely used contract to fail would be harder to reverse, and the fallout could involve funds or dependent applications. The October 22 notice does not quantify such a risk, but it makes clear that developers regarded the interaction as important enough to halt the Hoodi rehearsal.
A revised proposal could preserve the objective of charging for state while changing the way the gas reservoir works or the transition rules for existing contracts. It could instead keep the specification and require targeted application fixes. No public decision between those routes appears in the postponement notice. Readers should resist treating an investigation as a final design choice. The precise amendments, if any, will matter more than how many days Hoodi waits.
Why developers chose to wait
Ethereum’s process lets client teams adjust a plan before a public testnet activation. The October 22 decision at All Core Devs Execution call 248 follows earlier warnings and outreach to affected builders. The public notice identifies the area under investigation but does not publish a final count of contracts at risk, a new version of EIP-8037, or a date on which the inquiry will end. Calling the delay a confirmed flaw in all deployed contracts would go beyond the release; calling it a routine calendar shuffle would miss its stated cause.
The old configuration has to be withdrawn across both layers. Execution clients process transactions and state, while consensus clients coordinate validators and the fork schedule. A network can only test the upgrade if those clients agree on the rules and timing. Hoodi operators who installed releases specifically for October 26 must look for the revised release notes. The Foundation says it will add links to new client versions as they are confirmed, rather than treating its original compatibility table as current.
There is also a lesson in the order of evidence. Replaying history revealed a small affected group; public testnets reveal client and application behavior in a live setting; mainnet exposes the final rules to economic use at scale. Each stage answers something the preceding one cannot. A short delay on Hoodi may buy time for the contract work, but it does not itself prove the eventual rules are safe. The decision to proceed should follow test results and clear operator instructions.
The scope of the operator notice is worth spelling out. An ordinary mainnet holder does not need to change a wallet because Hoodi’s schedule was withdrawn. A Hoodi node operator who prepared for the fork does need to revisit release notes. A protocol engineer investigating the EIP needs to determine whether the contract behavior found in replays is acceptable, fixable by tooling, or a reason to alter the proposal. An application team needs to test its own execution routes. Those are different audiences with different deadlines, and a single “upgrade delayed” alert does not give each of them the right instruction.
The next Foundation post can also resolve how developers will communicate with affected teams. Its August guide said direct outreach had begun, but an outreach count alone would not establish that a contract was repaired. The testable evidence is an updated contract, revised gas configuration or documented fallback for a particular product. Some immutable contracts may require a user migration, which raises a separate communication and security concern: customers must know where a legitimate replacement lives and avoid fraudulent addresses. No mass migration has been announced, so this remains a contingency for teams whose code cannot be changed in place.
What comes before another date
A revised schedule should say which EIP-8037 rules will be tested, what changed if the proposal is amended, and which client versions agree on the new Hoodi epoch. Application maintainers need time to run affected-contract searches, update estimators, raise limits where that is sufficient and examine hardcoded internal call allowances where it is not. If a potentially broken deployed contract has no direct upgrade path, its team may need to explain how users will reach a replacement before any mainnet fork.
Public evidence would include the replay methodology and updated affected-contract findings, results from devnets with the final gas schedule, a Hoodi activation with diverse clients in agreement, and a separate mainnet announcement. Even a clean Hoodi activation would be a rehearsal, not a guarantee of a specific ETH price or final transaction fee. The practical story for users is that no October 26 mainnet action has been announced. The immediate action belongs to Hoodi operators and teams whose applications make assumptions about gas.
What to watch
Client releases: Execution and consensus updates that explicitly remove the old October 26 Hoodi activation.
EIP-8037 findings: New replay results, changes to the proposed gas rules and the treatment of contracts with hardcoded limits or gasleft() logic.
A replacement epoch: A dated Hoodi plan that restores a testable configuration after the investigation.
Application fixes: Reports from affected builders explaining whether higher limits suffice or deployed code needs another route.
Mainnet notice: A distinct production schedule from the Foundation after the testnet sequence and client coordination.
FAQ
Is Glamsterdam activating on Hoodi October 26?
No. The Ethereum Foundation postponed the October 26 activation and has not set a replacement epoch or time.
Did Ethereum mainnet change on October 22?
No. The notice changes a future Hoodi testnet schedule. It does not revert Hoodi’s existing history or activate Glamsterdam on mainnet.
Why was the test delayed?
Core developers want more time to investigate EIP-8037’s interaction with existing mainnet smart contracts, according to the Foundation.
What is EIP-8037?
It raises and separately meters gas charged for creating persistent state, including accounts, storage slots and deployed code. Its exact fee impact varies by transaction and gas price.
Does every smart contract need a change?
No. The Foundation says the large majority in its historical replay were unaffected. A small set with fixed gas assumptions deserves direct testing and, in some cases, a fix.
Will Hoodi’s gas limit rise to 200 million on October 26?
No. The scheduled increase was removed along with both parts of the Glamsterdam activation on Hoodi.
What should a Hoodi validator operator do?
Check updated execution, consensus and validator-client instructions. Old software or custom configurations may still carry the cancelled activation time.
Is there a new mainnet date?
No. A separate production announcement will be needed after testing and client teams agree on the schedule.
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 23, 2026.
Ethereum developers postponed the October 26 Glamsterdam activation on the Hoodi testnet. ChainSecurity identified 13 real-world cases of potential smart contract security risks. The postponement removes Hoodi’s planned gas limit increase to 200 million. Developers have not confirmed new Hoodi or mainnet activation dates. ETH trades below $2,400, with traders watching the $2,370 support and $2,415 resistance levels. Ethereum developers postponed the Ethereum Glamsterdam upgrade on the Hoodi testnet after researchers found possible risks to smart contracts. They canceled the October 26 activation as ETH traded below $2,400. The Foundation has not set another test date.
Ethereum Glamsterdam Upgrade Misses October 26 Target The Ethereum Foundation announced the decision on October 22 after a developer meeting. The review centers on EIP-8037, which changes gas charges for creating blockchain data and could affect deployed contracts.
Ethereum postpones the Glamsterdam upgrade and cancels Monday's Hoodi testnet activation after security developers flagged risks to existing contracts.
Just another reminder that protocol upgrades can be fragile.
— lenny 🥷 (@blockchainlenny) October 23, 2026
The postponement removes Amsterdam and Gloas activations from Hoodi’s configuration, alongside a planned increase in its gas limit to 200 million. The Foundation said existing transactions and Hoodi’s chain history remain unchanged.
Security Review Focuses on Failed Contract Calls On October 13, ChainSecurity warned that EIP-8037 and EIP-8038 could alter responses to failed transactions. Certain contracts check remaining gas to decide whether an unsuccessful operation should stop or continue. Older contracts may rely on those checks for security.
Under the proposals, failed operations might leave contracts with enough gas to continue. An application could then record failure without allowing retries. The change could block users from retrying requests.
ChainSecurity identified 13 real-world examples of contracts that might face such problems. It has not named the applications while contacting affected projects privately. A separate report on Glamsterdam gas concerns examined the findings. Developers are assessing whether the rules need changes.
Hoodi Operators Await New Test Schedule Glamsterdam activated on the Sepolia testnet on October 6. Hoodi was the next planned testing stage before mainnet deployment. Developers have not confirmed a December mainnet launch.
Hoodi node and validator operators must check updated software instructions before October 26. Both client types must remove the canceled activation. Mainnet users and ETH holders need no action, according to the Foundation.
Ethereum Price Holds Near $2,400 ETH traded between $2,370 and $2,415 during the reported session, declining around 0.5%. Separately, Ethereum holders staked 35.9% of the supply in the third quarter, according to a Bitwise report.
ETH remains near $2,400. An earlier Ethereum support analysis identified $2,350 as another level to watch. The price levels reflect market trading, not a confirmed response to the Hoodi decision. A move above $2,415 would clear the reported range, while a fall below $2,370 would mark renewed selling pressure.
Key pre-market news for U.S. stocks on Friday is as follows: 1. SpaceX’s potential merger with Tesla faces antitrust scrutiny; the company is in talks to connect 80,000 cellular sites to build a new network. 2. OpenAI is nearing completion of a new funding round, seeking to raise up to $30 billion at a pre-money valuation of $1.25 trillion. 3. California Public Employees’ Retirement System (CalPERS), the largest U.S. public pension fund, is adjusting its asset allocation: cutting direct holdings in the "Magnificent Seven" tech giants while increasing exposure to private equity. 4. SK Hynix has scrapped the pre-IPO financing and IPO plans of its subsidiary Solidigm. 5. U.S. spot Bitcoin ETFs saw a net outflow of $635 million yesterday, with Ethereum ETFs recording a net outflow of $110 million.
Relevant content
Extended will launch the XTEN token in November, with its tokenomics model set to be unveiled on October 31.
According to official announcements, on-chain perpetual futures trading platform Extended has announced its native token XTEN is scheduled to launch in November 2026, with the token’s economic model set to be unveiled on October 31. XTEN’s initial total supply stands at 1 billion tokens, of which 300 million (30% of the total) will be allocated to eligible participants of the Extended Points program. Qualified users will receive XTEN in their self-custodial Arc wallets at no cost. The XTEN whitepaper has been drafted in compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation, submitted to relevant authorities for registration, and is expected to be released on October 31.
2 minutes ago
Netanyahu seeks to leverage blockchain to counter potential future financial sanctions against Israel.
Israeli Prime Minister Benjamin Netanyahu said Friday that he has requested the development of a plan leveraging blockchain technology to help Israel address potential financial sanctions, while warning that U.S. military aid will eventually come to an end.
2 minutes ago
Initia suspends its L1 mainnet and Rollup operations due to a security incident.
Initia announced that as of 23:41:30 (UTC+8) on October 23, 2026, its L1 mainnet and Rollup have been suspended following a security incident. The project team is collaborating with security teams, validators, and exchanges to investigate and assess the specific impact scope of the incident. Initia stated that it will release verified information via official channels in the future, and reminded users to stay vigilant and treat unofficial links, messages, and related claims circulating during the event with caution.
2 minutes ago
Brent crude oil surged 3.00% intraday, now trading at $112.37 per barrel.
According to Bitget's market data, Brent crude oil surged 3.00% intraday, currently trading at $112.37 per barrel.
2 minutes ago
Initia Chain appears to have been hacked, with hackers having cashed out approximately $2.6 million.
Anonymous security analyst Spreek reported that the Initia blockchain was hacked, resulting in the infinite minting of a large volume of its tokens. So far, the hacker has cashed out approximately $2.6 million, with additional funds still being transferred.
2 minutes ago
Aave Pro launches its Earn feature, enabling APY-based comparison of asset yields and one-click deposits.
According to an official announcement, Aave Pro has launched its Earn feature to help users easily identify yield opportunities. Users can now compare different assets based on annual percentage yield (APY), select their desired V4 market, and complete deposits with a single click.
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.
Ethereum faces renewed selling pressure after a failed recovery attempt, increasing the possibility that ETH may test the $2,000 level before finding a durable market bottom. The cryptocurrency traded near $2,390 on October 23, retreating sharply after briefly touching $2,500. Over the past month, Ethereum has declined about 13%, with buyers repeatedly intervening to support the $2,300 region.
Heavy Liquidations and Technical BarriersRecent market turbulence triggered around $75.4 million in total ETH liquidations, according to CoinGlass data cited by Invezz. Notably, $63.7 million stemmed from leveraged long positions, highlighting the vulnerabilities present when traders expect rising prices using borrowed funds.
At the start of October, Ethereum traded above $2,700, but momentum soon faded. Repeated rebound attempts failed to sustain higher prices, drawing ETH back toward $2,400. This latest decline follows an earlier October selloff, as rising US Treasury yields and a strengthening dollar weighed on cryptocurrency valuations.
Ethereum currently trades below its key short-term moving averages. The $2,480 to $2,550 zone has consistently served as a ceiling, preventing any robust recovery. Analysts suggest that a decisive breakout above this level is needed to generate sustained positive momentum and revive prospects for a move toward $2,700 or $2,800.
ETH’s technical outlook remains fragile, with buyers under pressure and liquidations intensifying following recent failed rebounds.
Earlier analysis of ETH derivatives revealed that concentrated bullish positions can aggravate downside moves when key support levels break. This dynamic continues to pose a risk, as leveraged traders could trigger forced selling that accelerates any decline rather than containing it.
Staking Trends and Network DevelopmentsDespite price weakness, Ethereum’s network has seen increased staking activity. Bitwise, a crypto asset manager known for its industry research and investment products, recently reported record levels of institutional staking, even as yields decrease. This trend indicates that long-term holders are still participating actively on the network, even as price volatility persists.
Staking generally reduces the liquid supply of ETH available on exchanges. However, analysts caution that diminished supply does not guarantee higher prices, as demand must still counteract selling by existing holders, derivatives traders, and other market participants.
Coinpaper previously highlighted how a $2 billion exit queue raised concerns over potential selling pressure. However, not all withdrawals are destined for exchanges, and large exit queues do not necessarily signal imminent sell-offs.
Ethereum’s upcoming Glamsterdam upgrade introduces further improvements aimed at increasing network efficiency. This technical update could enhance scalability, though such developments do not necessarily drive immediate demand for ETH.
Mini dictionary: Glamsterdam upgrade, a planned Ethereum network enhancement focused on improving transaction efficiency and scalability, forming part of the ongoing roadmap for Ethereum’s technical evolution.
Key Price Levels and OutlookLooking ahead, the $2,300 to $2,350 support band represents the immediate downside area to monitor. Buyers recently protected levels such as $2,313 and $2,325 in mid-October, emphasizing the significance of holding above this region.
Should the price fall below $2,300, technical reference points emerge at $2,200 and $2,025. Breaching these levels could bring the $2,000 mark into view as a realistic bearish target, rather than a distant possibility.
Price LevelSignificance$2,700+Pre-October high, bullish target if recovery holds$2,480–$2,550Major resistance, must be broken for upside momentum$2,300–$2,350Key support, tested in October$2,200 / $2,025Technical support levels below current market price$2,000Plausible bearish target on further breakdownAlternatively, if Ethereum can reclaim the $2,500–$2,550 region, a deeper recovery toward $2,700 or $2,800 could take shape. Previous attempts to break out above resistance were short-lived, suggesting sustained buying is needed for a lasting reversal.
Institutional sentiment about Ethereum remains mixed, with bank analysts like Citi previously noting a $3,028 price target over a 12-month horizon, but emphasizing this is not an immediate goal.
TL;DR: Uniswap has switched on Aggregator Hooks in its web app and API across Ethereum, Base and Robinhood Chain, bringing outside liquidity sources into the v4 routing system.
Uniswap is no longer asking traders to choose between liquidity inside its own pools and prices available elsewhere. On Thursday, Uniswap Labs introduced Aggregator Hooks, a routing system that allows its v4 architecture to draw quotations from external decentralized exchanges.
The feature is live in the Uniswap web application and API on Ethereum mainnet, Base and Robinhood Chain. Seven outside sources were available at launch. Uniswap says those sources represent more than 90% of decentralized-exchange activity across the supported networks, a company-supplied measure rather than a guarantee of the best execution on every swap.
External liquidity, familiar transaction flow The technical approach is unusual. Rather than requiring traders to move into a separate aggregator product, Uniswap wraps external sources as v4 hooks that resemble liquidity pools to the routing engine. The router can compare new quotations block by block and build a route that includes both Uniswap and outside venues.
According to Uniswap, the resulting swap settles in one transaction and does not require another round of token approvals purely because the order touches external liquidity. That reduces visible friction for users, although network fees, slippage and smart-contract risks remain relevant.
A trader exchanging a thinly traded token might benefit from liquidity that would otherwise sit beyond the boundaries of a single application. For a liquid pair, the improvement could be smaller, particularly once execution costs are included. Aggregation is a tool for finding routes, not a promise that every trade will become cheaper.
A change to the protocol's economics Uniswap says swaps routed through Aggregator Hooks can contribute protocol fees that support UNI token burns. That gives the protocol an economic reason to capture order flow even when the actual assets are sourced elsewhere.
It also highlights a competitive tension in decentralized finance: liquidity is fragmented across many networks and trading systems, yet users increasingly expect applications to navigate that fragmentation automatically.
Developers using the Uniswap API can integrate the new routing functionality, while ordinary app users will see external liquidity included in eligible swaps. The actual effect on spreads and volumes will need to be measured in live trading rather than assumed from the launch announcement.
For Uniswap, the central strategic change is not another pool type. It is the attempt to make v4 an execution layer across rival venues without requiring the trader to know where each leg of a swap originates.
Source: blog.uniswap.org original announcement or data.
Related Reading: decentralized finance; smart contracts; crypto exchanges.
Written by the News Desk and edited by Samuel Rae.
The Ethereum Foundation has announced that the Glamsterdam upgrade, originally set to activate on the Hoodi testnet at 17:42:48 UTC on October 26, 2026, has been delayed, with a new activation date yet to be confirmed. Core developers decided to postpone the upgrade during the 248th Ethereum Consensus Layer Developer Meeting (ACDE #248) to further investigate interactions between EIP-8037 and Ethereum mainnet smart contracts. The delay cancels the original plans for the Amsterdam execution layer activation and Gloas consensus layer activation, and also revokes the prior plan to raise the Hoodi testnet’s gas limit to 200 million in the same cycle. The Ethereum Foundation stressed that this adjustment only rolls back configurations for future upgrades and will not revert historical on-chain data on the Hoodi testnet. The upgrade originally scheduled for October 26 is no longer on the agenda; the new activation cycle and specific timing will be announced at a later date.
Relevant content
Extended will launch the XTEN token in November, with its tokenomics model set to be unveiled on October 31.
According to official announcements, on-chain perpetual futures trading platform Extended has announced its native token XTEN is scheduled to launch in November 2026, with the token’s economic model set to be unveiled on October 31. XTEN’s initial total supply stands at 1 billion tokens, of which 300 million (30% of the total) will be allocated to eligible participants of the Extended Points program. Qualified users will receive XTEN in their self-custodial Arc wallets at no cost. The XTEN whitepaper has been drafted in compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation, submitted to relevant authorities for registration, and is expected to be released on October 31.
2 minutes ago
Netanyahu seeks to leverage blockchain to counter potential future financial sanctions against Israel.
Israeli Prime Minister Benjamin Netanyahu said Friday that he has requested the development of a plan leveraging blockchain technology to help Israel address potential financial sanctions, while warning that U.S. military aid will eventually come to an end.
2 minutes ago
Initia suspends its L1 mainnet and Rollup operations due to a security incident.
Initia announced that as of 23:41:30 (UTC+8) on October 23, 2026, its L1 mainnet and Rollup have been suspended following a security incident. The project team is collaborating with security teams, validators, and exchanges to investigate and assess the specific impact scope of the incident. Initia stated that it will release verified information via official channels in the future, and reminded users to stay vigilant and treat unofficial links, messages, and related claims circulating during the event with caution.
2 minutes ago
Brent crude oil surged 3.00% intraday, now trading at $112.37 per barrel.
According to Bitget's market data, Brent crude oil surged 3.00% intraday, currently trading at $112.37 per barrel.
2 minutes ago
Initia Chain appears to have been hacked, with hackers having cashed out approximately $2.6 million.
Anonymous security analyst Spreek reported that the Initia blockchain was hacked, resulting in the infinite minting of a large volume of its tokens. So far, the hacker has cashed out approximately $2.6 million, with additional funds still being transferred.
2 minutes ago
Aave Pro launches its Earn feature, enabling APY-based comparison of asset yields and one-click deposits.
According to an official announcement, Aave Pro has launched its Earn feature to help users easily identify yield opportunities. Users can now compare different assets based on annual percentage yield (APY), select their desired V4 market, and complete deposits with a single click.
According to YuJing Monitor, as crude oil prices surged 4% today, a crypto whale who sold ETH bought at a low three days ago to go long on crude oil is now sitting on an unrealized profit of $1.9 million. The whale sold ETH purchased at an average price of $1,647 for a profit of $8.99 million, then opened a long crude oil position worth $51.56 million.
Relevant content
Extended will launch the XTEN token in November, with its tokenomics model set to be unveiled on October 31.
According to official announcements, on-chain perpetual futures trading platform Extended has announced its native token XTEN is scheduled to launch in November 2026, with the token’s economic model set to be unveiled on October 31. XTEN’s initial total supply stands at 1 billion tokens, of which 300 million (30% of the total) will be allocated to eligible participants of the Extended Points program. Qualified users will receive XTEN in their self-custodial Arc wallets at no cost. The XTEN whitepaper has been drafted in compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation, submitted to relevant authorities for registration, and is expected to be released on October 31.
2 minutes ago
Netanyahu seeks to leverage blockchain to counter potential future financial sanctions against Israel.
Israeli Prime Minister Benjamin Netanyahu said Friday that he has requested the development of a plan leveraging blockchain technology to help Israel address potential financial sanctions, while warning that U.S. military aid will eventually come to an end.
2 minutes ago
Initia suspends its L1 mainnet and Rollup operations due to a security incident.
Initia announced that as of 23:41:30 (UTC+8) on October 23, 2026, its L1 mainnet and Rollup have been suspended following a security incident. The project team is collaborating with security teams, validators, and exchanges to investigate and assess the specific impact scope of the incident. Initia stated that it will release verified information via official channels in the future, and reminded users to stay vigilant and treat unofficial links, messages, and related claims circulating during the event with caution.
2 minutes ago
Brent crude oil surged 3.00% intraday, now trading at $112.37 per barrel.
According to Bitget's market data, Brent crude oil surged 3.00% intraday, currently trading at $112.37 per barrel.
2 minutes ago
Initia Chain appears to have been hacked, with hackers having cashed out approximately $2.6 million.
Anonymous security analyst Spreek reported that the Initia blockchain was hacked, resulting in the infinite minting of a large volume of its tokens. So far, the hacker has cashed out approximately $2.6 million, with additional funds still being transferred.
2 minutes ago
Aave Pro launches its Earn feature, enabling APY-based comparison of asset yields and one-click deposits.
According to an official announcement, Aave Pro has launched its Earn feature to help users easily identify yield opportunities. Users can now compare different assets based on annual percentage yield (APY), select their desired V4 market, and complete deposits with a single click.
Yilihua, founder of Liquid Capital, stated in a post that patience is the most critical test for investment and trading. When Ethereum (ETH) was fluctuating around $3,000, many investors couldn’t hold back and ended up buying at the mid-peak when attempting to catch the dip. Recently, Bitcoin has also been in a prolonged consolidation phase since its pullback from $86,000, so it’s vital to exercise self-control. He believes there will be great opportunities to buy the dip later. The dividend era of the crypto industry has passed, and only by truly enhancing one’s market cognition and mental fortitude can one achieve excess returns.
In brief
U.S. spot Bitcoin ETFs shed $635.6 million on Thursday, erasing nearly 60% of a three-day, $1.07 billion inflow streak and flipping October back to a net loss of about $176 million.
Ethereum ETFs lost $110.6 million, bringing their October outflows to about $1.18 billion, while Solana ETFs shed $8.9 million.
Prices held steady, with Bitcoin near $81,460, as Myriad traders cut the odds of Bitcoin topping $87,500 this month to 17%.
Bitcoin ETFs’ October comeback lasted a single session.
U.S. spot Bitcoin ETFs shed $635.6 million on Thursday, according to Decrypt’s ETF tracker, wiping out nearly 60% of the roughly $1.07 billion the funds took in over the previous three sessions. It was their biggest single-day outflow of the month, topping the $484.9 million exit on Oct. 7 that was, at the time, the worst since June.
Myriad: How high will Bitcoin go? Click to make your prediction.The reversal pushed October back into negative territory. After climbing to roughly $460 million in net inflows for the month on Wednesday, the funds are now down about $176 million. Cumulative net inflows since launch slipped to $57.8 billion, with total net assets at $100.2 billion.
Ethereum ETFs followed suit, losing $110.6 million a day after snapping a five-day outflow streak. That brings their October losses to roughly $1.18 billion. Solana ETFs shed $8.9 million, bringing them to about $68 million in outflows this month, with just two days of inflows in October.
Spot crypto ETFs are exchange-traded funds that hold the underlying asset, such as Bitcoin or Ethereum, and trade on stock exchanges like ordinary shares. That lets investors gain exposure through a regular brokerage account without buying or storing crypto themselves.
Bitcoin funds debuted in January 2024 and have since drawn $57.8 billion in net inflows, while Ethereum funds, which followed that July, have taken in $12.7 billion. Solana funds arrived late last year. Because issuers report flows daily and much of the money comes from institutions and financial advisers, the figures have become one of the most closely watched gauges of investor sentiment.
Yesterday’s selling coincided with a rough day across markets. Oil climbed above $111 a barrel as AI stocks slid, dragging the S&P 500 and global markets lower. The Federal Reserve next meets Oct. 27-28, with traders anticipating a “hold”—meaning, no increase to interest rates, which generally bodes well for risk assets like crypto.
Despite the heavy ETF outflows, prices barely budged. Bitcoin traded near $81,460 on Friday, flat over 24 hours and down 0.4% on the week. Ethereum dipped 0.2% to about $2,400, and Solana slipped 0.3% to roughly $104. The 30-day declines are steeper: Bitcoin is down 4.8%, Ethereum 11.4%, and Solana 10.4%.
Total crypto market cap held at about $2.85 trillion, while trading volume fell 20% to $67.1 billion. Bitcoin has settled into a wait-and-see mode, analysts told Decrypt, and that may not be a bad thing for the market.
Traders on Myriad, a prediction market developed by Decrypt’s parent company Dastan, have trimmed their bets on an October breakout.
They now give Bitcoin a 17% chance of topping $87,500 before the month ends, down from 20% a day earlier, and 9% odds of reaching $90,000. They put the odds of a slide to $77,500 at 32%. Sentiment in Myriad’s open-ended markets is more upbeat. Users give Ethereum a 61.3% chance of reaching $3,000 before $1,500, and Solana a 54.9% chance of hitting $160 before $40.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Join 72,000+ readers
Create an account to save your articles.
Add on Google
Add Decrypt as your preferred source to see more of our stories on Google.
Widely followed crypto analyst and AltCryptoCast founder Sjuul Follings has highlighted a key condition Cardano must meet to potentially establish a fresh higher high.
Notably, Follings described Cardano as having one of the clearest bullish market structures among major cryptocurrencies. His accompanying chart illustrates this pattern, while he stressed the importance of defending ADA’s latest higher low to sustain the upward momentum.
Cardano’s Bullish Structure Hinges on $0.22 Support
The daily ADA/USDT perpetual chart on Bybit shows Cardano forming a series of higher highs and higher lows since June 2026, reflecting a sustained upward trend.
Notably, ADA established successive higher highs after pulling back to higher lows in mid-June, early July, and early August. The cryptocurrency subsequently climbed to a higher high near $0.25 on August 20 before retracing below $0.20.
This pattern suggests that buyers have consistently stepped in at progressively higher price levels, helping ADA preserve its bullish market structure.
However, Cardano must maintain this pattern to keep the uptrend intact. Follings emphasized that bulls need to defend the latest higher low near $0.22. Holding this support area could provide a foundation for another upward move.
Sjuul Cardano Chart
A Fresh Higher High Could Follow
According to Follings, successfully defending the $0.22 support area could allow Cardano to resume its upward trajectory and establish another higher high. However, he did not specify a price target for this potential move.
Nevertheless, another higher high would reinforce the existing bullish structure and suggest buyers continue to push the market higher.
Conversely, a decisive break below the recent higher low could weaken the pattern and expose ADA to a deeper pullback. Therefore, the token’s reaction around $0.22 could help determine whether the uptrend continues or bearish pressure intensifies.
ADA Sees Conflicting Price Predictions
Meanwhile, Cardano continues to trade around the $0.21 support level amid heightened market volatility. At press time, ADA trades at $0.2169, down 0.7% over the past 24 hours.
Notably, analysts Ali Martinez and Tony have warned of further downside risks. Martinez has identified $0.17 as a potential downside target, while Tony believes ADA could fall to $0.19.
Despite these bearish projections, a recent analysis by The Crypto Basic suggests that Cardano could reverse its multi-year decline and rally toward $0.594.
These differing outlooks highlight the uncertainty surrounding ADA’s next move. While Follings’ analysis points to the importance of defending the bullish structure, other analysts have warned that continued selling pressure could push the cryptocurrency lower.
Crypto analyst Master Ananda has maintained his bullish outlook on Cardano (ADA), arguing that its recent pullback does not invalidate the broader recovery structure.
Cardano has retraced over the past few days, falling below the $0.22 threshold. The decline comes days after Ananda predicted that ADA could rebound to $1 in the coming months before climbing to a new all-time high of $3.25 next year.
However, ADA pulled back after the analyst’s bullish projection, hitting a low of $0.2105 yesterday. Although the token has since recovered to around $0.2169, the latest decline adds to the prolonged downtrend it has experienced since 2025.
Ananda’s accompanying three-day chart illustrates this trend, showing ADA trading within a falling wedge from early 2025 through the second half of 2026. During this period, the cryptocurrency fell from above $1 to around $0.20.
Master Ananda Urges Traders to Remain Patient
Reacting to the recent price weakness, Ananda acknowledged that red candles and consecutive losing sessions can make traders question their bullish positions. Nevertheless, he argued that short-term declines do not necessarily signal the end of a recovery, particularly when prices remain within the expected trading range.
According to him, traders should focus on established support and resistance levels rather than panic over every market movement. He also emphasized that no trading strategy wins every time, making careful planning, risk management, and emotional discipline essential.
Ananda further argued that traders cannot predict every market move with certainty. Instead, he encouraged them to prepare for different outcomes, accept that some trades will result in losses, and avoid making impulsive decisions whenever prices move against their expectations.
ADA Chart Highlights a Rounded Bottom and Recovery
Meanwhile, Ananda’s chart suggests that Cardano may be establishing a foundation for recovery, highlighting a roughly two-month rounded bottom.
The formation began around late June, when ADA reached a low of $0.1384. The token subsequently rebounded, climbing toward $0.28 earlier this month before retracing. Ananda labeled this rebound the “2026 Recovery,” suggesting that it could mark the beginning of a broader bullish move.
However, ADA’s recent pullback shows that the recovery remains vulnerable to renewed selling pressure. The token must sustain its rebound and overcome nearby resistance levels to strengthen the bullish outlook.
MasterAnanda Cardano Chart
Analyst Maintains $1, $2, and $3.25 Targets
Despite the recent volatility, Ananda remains optimistic about Cardano’s long-term prospects, maintaining his projected upside targets if ADA sustains its recovery and gathers momentum.
His first target sits around $1, with the chart marking a Fibonacci extension level at approximately $1.072. The analyst’s main target is $2, corresponding to another Fibonacci extension near $2.06.
Ananda also identifies $3.25 as a potential new all-time high, with the chart marking the corresponding Fibonacci extension at approximately $3.248. If ADA reaches this level, it would surpass its previous record of around $3.10, established in September 2021.
Nevertheless, these targets remain speculative. Cardano has yet to establish a sustained bullish trend, and the broader cryptocurrency market has not provided clear confirmation of a lasting recovery. ADA would need to overcome key resistance levels and maintain its upward momentum before these projections become more plausible.
Cardano showed a modest recovery on Friday, with ADA rising almost 2% to trade near $0.2156 after suffering a 6% decline in the prior session. Despite this limited rebound, ADA remains below its key moving averages and the previous rising support trendline, highlighting persistent technical pressures on the cryptocurrency.
Large investors show mixed positioningData from on-chain analytics platform Santiment revealed that wallets holding between 10 million and 100 million ADA controlled 37.93% of the circulating supply on Friday, a decrease from 38.27% reported on October 10. This reduction suggests that some sizable investors trimmed their ADA holdings in recent days, although reclassification of wallet categories could have contributed to these shifts.
Meanwhile, the largest investors—wallets with more than 100 million ADA—took the opposite approach. Their share of the ADA supply increased from 15.92% to 16.04% over the same period, indicating selective accumulation among top holders even as other whales reduced exposure.
The divergence in holdings reveals an uneven approach among large investors, rather than blanket selling across the board.
Holder GroupOctober 10October 1810M – 100M ADA38.27%37.93%>100M ADA15.92%16.04%Santiment is a blockchain analytics provider that tracks on-chain metrics, including investor behavior, whale activity, and token distribution.
Mini dictionary: Santiment is an on-chain data analytics platform that monitors cryptocurrency wallet distributions, investor activity, and other blockchain metrics to help investors assess market sentiment and asset flows.
The share of ADA supply in profit also slid notably, dropping from 30.78% to 17.8%. This shift means significantly fewer Cardano tokens now trade above their acquisition cost, reflecting both price declines and potential unrealized losses.
Mixed whale activity and falling supply in profit show that Cardano’s rebound is accompanied by pressure from large holders and weak sentiment among investors.
Derivatives market reflects reduced risk appetiteDerivatives data from CoinGlass indicated that open interest in ADA futures declined 3.3% to $467.97 million over the past 24 hours. Falling open interest alongside the recent price drop is typically linked to traders closing positions and reducing leverage exposure.
Because open interest is denominated in dollars, declines can also result from lower ADA prices. Liquidations over the same period totaled about $1.08 million, with $1.02 million coming from long positions—a sign that bullish traders bore the brunt of forced closures as prices fell.
Despite these liquidations, the funding rate in ADA perpetual futures remains positive at 0.0038%, highlighting that traders are still paying a premium to maintain long positions. This suggests ongoing bullish positioning, although signals appear divided across investor categories.
Technical levels cap Cardano’s recoveryOn the technical front, ADA continues to trade below significant resistance zones. The daily chart shows Cardano below the 50-day Exponential Moving Average at $0.2274 and the recently broken rising trendline near $0.2282. The 200-day EMA at $0.2322 presents an additional resistance barrier further overhead.
The Relative Strength Index, currently near 41, reflects subdued momentum, as values below 50 typically indicate weakness. The MACD has drifted further into negative territory, supporting a cautious short-term outlook for ADA.
On the downside, immediate support centers on the $0.20 mark, a key psychological and technical level. If sellers push ADA below this threshold, the price could test the August 30 low around $0.1894.
Unless ADA regains and closes above the $0.2322 region, the current move is likely a brief bounce within a broader corrective phase rather than a sustained reversal.
For any lasting recovery, analysts point to the need for ADA to reclaim the $0.2274–$0.2282 resistance zone, followed by a daily close above the 200-day EMA. Until then, Cardano is viewed as remaining in a corrective trend despite Friday’s modest advance.
