Ripple Prime, through its multi-asset brokerage platform, is rolling out TradFi perpetuals for its Wall Street clients via Trade.xyz’s markets on Hyperliquid. This comes as the crypto firm continues to expand its offerings and builds on an initial DeFi rollout earlier in the year.
Ripple Prime Rolls Out TradFi Perpetuals For Institutional Clients According to a Bloomberg report, the brokerage platform has launched TradFi perpetuals for institutional clients in partnership with Trade.xyz, the largest HIP-3 deployer on Hyperliquid. These reference markets cut across stocks, ETFs, indices, and commodities such as gold and silver.
This move comes as the demand for 24/7 perpetuals heats up, with Trade.xyz notably providing access to the TradFi markets beyond the traditional hours. The report also cited the rise in open interest on these real-world asset perpetual contracts, which has climbed to $9 billion over the past year.
Ripple also continues to expand its institutional offerings through its brokerage platform. As CoinGape reported, Ripple Prime now offers swap financing for leveraged ETFs, an area that banks and securities firms have largely dominated.
The brokerage platform also recently launched its Delta One business, enabling its institutional clients to trade total return swaps on U.S. stocks, indices and crypto. The company also added support for Hyperliquid earlier this year, giving clients access to DeFi trading.
Virtu Onboarded As First Client Ripple also confirmed it launched access to RWA perpetuals for its institutional clients, with Virtu among the clients now trading these RWA swaps. “With reference markets trading continuously, including weekends, clients can manage exposures to traditional asset classes outside typical exchange operating hours,” the crypto firm said.
Commenting on the rollout, Ripple Prime’s International CEO Michael Higgins said RWA swaps are where TradFi and DeFi converge. He added that these institutions want 24/7 access to these assets and are best positioned to provide it given their ties to both worlds.
The crypto firm also noted that clients will benefit from cross-margining RWA swap exposures against the other asset classes the brokerage supports. Clients can also use the RLUSD stablecoin as collateral for these transactions.
For more on derivatives trading, check out Best Crypto Derivative Futures Trading Platforms
Ripple Prime, the prime brokerage unit of Ripple, has added real-world asset (RWA) perpetual swaps for institutional clients, with the products referencing perpetual futures listed by Trade.xyz on Hyperliquid.
The swaps cover more than 100 reference markets across equities, equity indices, exchange-traded funds, metals, energy and foreign exchange, Ripple said Thursday, adding that trading and settlement are available around the clock, including weekends.
RWA perpetual swaps are crypto derivative contracts that let users trade traditional financial assets using leverage without an expiration date. Market maker Virtu is among the institutional clients already trading the products, Ripple said.
"Virtu is ramping up across emerging liquidity pools, and Ripple Prime's 24/7 cross-margining across asset classes helps us expand our presence more efficiently as markets move toward round-the-clock access,” said Scotte Moegling, head of business development for digital assets at Virtu.
Ripple Prime acts as the principal in the trades, while the value of the swaps is linked to the Trade.xyz perpetual futures listed on Hyperliquid.
RLUSD accepted as collateral Clients can use Ripple's RLUSD stablecoin as collateral for the RWA swaps, although its availability may differ by jurisdiction, Ripple said.
Ripple Prime also lets clients manage margin across different assets, meaning they may need less collateral if some positions reduce the risk of others.
Ripple said clients can manage their trading through one counterparty and see their margin requirements and risks across their entire portfolio in one place.
Ripple Prime was formed after Ripple completed its $1.25 billion acquisition of non-bank prime broker Hidden Road last year. The platform supports digital assets, foreign exchange, fixed income, derivatives and swaps through one institutional account.
Ripple Prime added support for Hyperliquid in February, allowing institutional clients to access the decentralized derivatives venue while managing margin alongside their other positions.
The new RWA swaps are currently offered through Ripple Prime's CIV BVI license. Ripple said it plans to make them available from more regions, but did not give a timeline or name the next markets.
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Ripple has expanded its institutional prime brokerage platform to support perpetual swaps tied to traditional financial assets, allowing clients to trade exposure to more than 100 markets around the clock.
The new offering, announced Thursday, covers equities, stock indices, exchange traded funds, metals, energy and foreign exchange. Institutional trading firm Virtu is among the clients already using the service.
The swaps are offered through Ripple Prime, with contracts referencing perpetual futures listed by Trade.xyz on Hyperliquid. The structure gives institutions continuous exposure to traditional markets, including weekends, without requiring direct ownership of the underlying assets.
Ripple expands institutional access to Hyperliquid Under the arrangement, Ripple Prime acts as the principal counterparty to clients trading RWA swaps linked to contracts listed by Trade.xyz, a decentralized trading platform built on Hyperliquid that offers perpetual futures tied to traditional assets.
Clients can also use Ripple’s RLUSD stablecoin as collateral and cross margin their RWA positions against other asset classes supported by the prime brokerage platform.
This allows institutions to manage multiple exposures through a single counterparty relationship, with centralized risk management and consolidated margin requirements.
“Institutions want exposure to equities, commodities, and currencies with the round the clock access and efficiencies of digital infrastructure,” said Michael Higgins, international CEO of Ripple Prime.
Virtu is already participating in the offering. Scotte Moegling, the firm’s head of business development for digital assets, said Ripple Prime’s continuous cross margining capabilities would help it expand into emerging liquidity pools.
The service is currently available through Ripple Prime’s British Virgin Islands licensed entity, with plans to expand into additional jurisdictions.
Hyperliquid strengthens its role in traditional asset derivatives The launch builds on Ripple Prime’s February integration with Hyperliquid, which initially brought decentralized derivatives liquidity into its institutional brokerage platform.
Since then, Hyperliquid has expanded its reach beyond crypto derivatives through Trade.xyz, offering perpetual futures tied to stocks, indices and commodities that trade continuously, including outside traditional exchange hours.
Unlike tokenized equities backed by actual shares, these perpetual contracts provide synthetic price exposure without ownership of the underlying securities.
The expansion comes as institutional interest in traditional asset derivatives on blockchain networks continues to grow. Open interest in RWA perpetuals across major trading platforms has reportedly reached approximately $9 billion, according to Bloomberg figures cited in subsequent coverage.
For Ripple, the launch also extends its strategy of connecting institutional finance with onchain markets. The company established Ripple Prime after completing its $1.25 billion acquisition of Hidden Road in 2025, expanding its services across digital assets, traditional securities and derivatives.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
On October 15, 2026, Ripple announced that Ripple Prime had launched real-world asset perpetual swaps for institutional clients. The products reference more than 100 markets and can be traded and settled 24/7. Ripple did not identify a launch time, contract identifier, trading volume or notional amount in the announcement.
The reference markets span equities, equity indices, exchange-traded funds, metals, energy and foreign exchange. Virtu is among the institutional clients already trading the products, according to Ripple. The announcement names the client and product scope, but does not disclose Virtu’s positions, collateral balance or trade size.
How the swaps connect to Hyperliquid Ripple Prime is the principal in the RWA swaps. The swaps reference perpetual futures contracts listed by Trade.xyz on Hyperliquid, which Ripple described as a decentralized derivatives venue. This means a Ripple Prime client faces Ripple Prime through a single counterparty relationship while the product’s reference contracts come from a separate venue.
That structure is narrower than a claim that the institutions themselves are trading directly on Hyperliquid. Ripple’s wording places the client transaction inside its prime brokerage: the swaps are traded through Ripple Prime as principal. It places the referenced perpetual futures on Hyperliquid through Trade.xyz. The announcement does not say the RWA swaps are issued on the $XRP Ledger, and it provides no $XRP Ledger transaction or contract address.
The product extends access beyond the operating hours of the traditional markets represented by the contracts. Ripple said the reference markets trade continuously, including weekends. A client can therefore manage exposure to the named traditional asset classes outside normal exchange hours without waiting for the relevant cash market to reopen.
The derivatives do not transfer the referenced shares, funds, metals, energy products or currencies to the client. The release describes swaps that take their reference from perpetual futures. It does not describe delivery or tokenization of the underlying assets. For practitioners, that distinction determines what can be independently checked: Trade.xyz’s listed contracts provide the market reference, while Ripple Prime remains the stated principal for the institutional swap.
The reference design also separates three roles. Trade.xyz lists the perpetual futures, Hyperliquid is the derivatives venue named by Ripple, and Ripple Prime enters the RWA swap as principal with its client. A user evaluating venue risk and counterparty risk therefore needs to assess the referenced market and the prime-broker relationship separately. The release confirms the arrangement but does not publish the contractual fallback used if a reference market is unavailable.
Margin, collateral and counterparty setup Ripple Prime said clients can cross-margin the RWA swap exposures against other asset classes supported by the prime broker. The company also said clients can use Ripple USD, or $RLUSD, as collateral for RWA swap transactions. Together, those features put the new positions into the same counterparty, risk-management and margin framework as a client’s other supported exposures.
Cross-margining is the practical capital change in the release. An institution does not have to treat each RWA swap position as a completely separate collateral account if Ripple Prime supports the other offsetting or related asset class. Ripple describes the result as consolidated margin across the client’s portfolio. The release does not publish the applicable haircuts, margin formulas, liquidation thresholds or eligible offset rules, so a client still needs those terms from Ripple Prime before comparing the product with direct venue access.
The $RLUSD collateral option has a jurisdictional limit. Ripple states that $RLUSD availability may differ by jurisdiction and directs clients to their Ripple Prime representative. The release does not say whether $RLUSD is the sole stablecoin accepted for these swaps, what collateral conversion rules apply, or whether availability matches every market covered by the CIV BVI offering.
Virtu described the cross-margining feature from the client side. Scotte Moegling, its head of business development for digital assets, said Ripple Prime’s “24/7 cross-margining across asset classes helps us expand our presence more efficiently as markets move toward round-the-clock access.” Ripple did not identify any other participating institution in the announcement.
Ripple framed continuous access as a way for institutions to respond to market developments, manage positions and deploy capital across traditional and digital asset markets. That ability may matter most outside the hours of the referenced cash market. The announcement does not explain how Ripple Prime handles price formation, risk limits or collateral calls when a cash market is closed but its related perpetual market continues trading.
Availability and what remains open The offering is currently available through Ripple Prime’s CIV BVI license. Ripple said it intends to offer the product from additional regions in the near future, but it did not name those regions or provide a date. The current legal entity matters because access, client eligibility and the availability of $RLUSD collateral can differ across jurisdictions.
The announcement says institutional clients can respond to market developments, manage positions and deploy capital across traditional and digital asset markets on a continuous schedule. It also says the same setup gives clients centralized risk management through one counterparty. Those are product capabilities claimed by Ripple, not evidence that every referenced market has continuous liquidity at the same depth or spread. The release provides no order-book statistics, open interest, execution costs or weekend liquidity data.
For operators, the immediate diligence questions are concrete. They need the list of more than 100 reference markets, the contract specifications used by Trade.xyz, Ripple Prime’s margin and liquidation terms, and the rules governing $RLUSD collateral in their jurisdiction. None of those detailed schedules appears in the release. They also need to know whether portfolio offsets remain available during stressed markets and how the prime broker values a referenced contract when the corresponding traditional venue is closed.
The next milestone is regional expansion, although Ripple supplied no date. Until it names the additional regions and publishes their eligibility and collateral terms, the verified scope remains the CIV BVI offering, with Ripple Prime as principal, Trade.xyz perpetual futures on Hyperliquid as references, and 24/7 trading and settlement for the institutional RWA swaps.
The crypto market saw a notable rally in the just-concluded third quarter. It was also the quarter in which HTX turned 13. Over the past 13 years, the industry has weathered multiple bull and bear cycles, and HTX has stood alongside users worldwide throughout them. Resilience in navigating market cycles has been a defining characteristic of HTX over the past 13 years.
To mark its anniversary themed “Resilience Reveals the Future”, HTX launched the 13th-Anniversary Carnival and Trading Championship #3, among other celebratory events, in the third quarter, celebrating alongside users worldwide. Meanwhile, the platform continued to invest in TradFi, trending assets, yield products, and global compliance, delivering an outstanding quarterly performance report.
13th-Anniversary Celebrations Conclude, with Participation from Users WorldwideOn August 13, HTX kicked off its 13th-anniversary celebrations with the Anniversary Carnival. Its spot, futures, Earn and lending businesses rolled out exclusive anniversary promotions in succession, launching a celebration that lasted more than a month.
The annual trading competition Trading Championship #3 was the centerpiece of the anniversary celebrations. It attracted 45,000 registrations and generated 6.8 billion USDT in futures trading volume, making it the platform’s largest campaign of the quarter by both participation and trading volume. Meanwhile, HTX futures copy trading volume grew 21% quarter over quarter.
For spot trading, a series of 13th-anniversary campaigns, including the Individual Challenge, Trending Cryptos Margin Trading Carnival, and Points Tasks, played a key role in driving spot trading growth during the quarter. Over the three-month period, HTX launched 14 themed spot trading campaigns, attracting more than 46,000 registrations and generating over 500 million USDT in trading volume across the campaigns.
For 13 years, HTX and users worldwide have navigated one market cycle after another together. The anniversary celebrations were both a gesture of appreciation for users’ long-term support and a reflection of HTX’s determination to carry its resilience into the next 13 years.
TradFi Asset Offerings Expand as Quarterly Trading Volume More Than DoublesIn the third quarter, HTX listed 183 new futures assets, including 154 stocks and index-related assets. As of now, the platform offers 278 tradable stock assets, spanning US stocks, major global indices and ETFs, pre-IPO unicorns, and leading companies in Japan and South Korea, continuing to lead the industry in multi-market stock asset coverage.
HTX’s asset lineup focuses on four key sectors: AI hardware and semiconductor computing power, global e-commerce and internet companies, leading Asia-Pacific companies and major indices, and high-dividend blue-chip stocks. AI and semiconductor computing, leading Asia-Pacific companies, and pre-IPO unicorns were key themes throughout the quarter. Popular assets such as POLYMARKET, OURA and MOONSHOT were also listed. Eligible users can access global market opportunities through HTX without switching between platforms. This service is not available in jurisdictions subject to regulatory restrictions.
The expanded asset lineup drove rapid growth in trading volume. So far the cumulative TradFi trading volume on HTX has approached $6 billion, with $4.1 billion generated in the third quarter alone, more than doubling the cumulative total from the previous quarter.
The trading experience was upgraded alongside these developments. Stock perpetual futures feature a dividend settlement mechanism, allowing position values to adjust more continuously when an underlying stock goes ex-dividend and reducing the impact of non-trading-related price adjustments on users’ positions. TradFi asset detail pages include market data, news updates, and company profile, bringing key information together in one place. Dedicated categories for stocks, commodities and ETFs have also been added to market rankings, making it easier for users to discover assets. HTX has also upgraded its TradFi trading fee structure, bringing its net trading fees into the industry’s top tier.
HTX is also taking a longer-term view of the convergence of traditional finance and crypto markets. As real-world assets (RWAs), particularly tokenized stocks, become an increasingly important area of development in the global digital asset industry, the platform is monitoring regulatory developments and exploring regulatory frameworks and compliance pathways in preparation for future product innovation. All related products and services offered by the platform operate within the framework of applicable laws and regulations, and access restrictions are applied to users in certain jurisdictions as required.
Trending Assets Emerge as Earn and Lending Products Put Funds to Work EfficientlyIn the third quarter, HTX listed new projects attracting strong market interest, several of which were first listed on the platform. Niulai was the quarter’s top-performing newly listed token, recording a peak gain of more than 500%. DOS and STONK each recorded peak gains of 240% after listing.
Earn and lending products expanded alongside new asset listings. During the quarter, HTX Earn changed the launch schedule for its new-token products from weekly updates to real-time synchronization with new listings, allowing users to access corresponding Earn products as soon as eligible popular tokens become available. Nearly 500,000 users participated in HTX Earn during the quarter, with subscription amounts totaling nearly 1 billion USDT. SVIP Flexible Earn products added BTC and ETH, expanding the options available to users with large holdings. In addition, SmartEarn introduced a trading-linked APY boost, offering a base APY of 4% upon activation and up to 9% APY for users who meet the required trading volume threshold. This further expands the yield potential for idle assets.
Margin and Convert features added 21 tradable assets, with XAUT becoming the first precious metal asset available through Convert. This further expanded the range of assets available for trading, borrowing and use as collateral. Loan interest rates are adjusted frequently in response to market conditions across more than 50 cryptocurrencies. Interest rates for large loans remain among the lower levels in the industry.
Risk management tools were also upgraded. Trailing stop orders and MMR TP/SL orders were launched successively. Stop-loss levels can automatically track market movements, giving users with large positions and high leverage greater flexibility in managing risk.
Advancing Global Compliance and Making a Major Brand Appearance at TOKEN2049Compliance is a prerequisite for global expansion. In the third quarter, HTX made further progress on compliance initiatives in several key markets. In Dubai, the establishment of the relevant applicant entity received preliminary approval from the Virtual Assets Regulatory Authority (VARA), with subsequent regulatory applications and compliance reviews proceeding as planned. In Pakistan, following the formal publication of virtual asset service regulations and the launch of a licensing application process, HTX continued to advance the establishment of its local entity, its formal license application, and the development of its compliance framework, building on the No Objection Certificate (NoC) already obtained from the Pakistan Virtual Assets Regulatory Authority (PVARA).
HTX continued to strengthen its presence in regional markets. In August, HTX Ventures participated in Conviction Vietnam, building connections with local users and Web3 ecosystem partners. As the fourth quarter began, HTX appeared at TOKEN2049, a major annual gathering for the global crypto industry. Held in Singapore from October 7–8, the event brought together projects, investment firms, developers, and industry builders from around the world. HTX Ventures exhibited at the Sands Expo and Convention Centre in Singapore, engaging invited guests through brand displays and on-site interactions. Justin Sun, adviser to HTX and a core supporter of HTX DAO, attended related events and delivered a speech. He visited the HTX Ventures booth to meet with the team and other industry participants.
At Future Night, a private, invitation-only event hosted by HTX DAO during the same period, Justin Sun shared his views on industry trends via video. He noted that the crypto industry is becoming more closely connected with traditional finance. AI is changing how wealth is created, while crypto and digital finance are transforming how wealth is held and transferred. He also said that stablecoins could play a greater role in global payments and settlement, while the on-chain adoption of traditional assets such as bonds, funds and gold is likely to continue developing. The free flow of value in the digital world, he said, will be an important trend to watch over the next decade.
During the event, HTX DAO also hosted a private VIP dinner. Justin Sun met face to face with industry representatives, ecosystem contributors, and partners to exchange views on industry developments, market changes, product experiences, and future collaboration.
HTX DAO Ecosystem Expands as Q3 $HTX Burn ApproachesHTX DAO continued to support the long-term value of $HTX in the third quarter by steadily implementing its deflationary mechanism through quarterly token burns, while expanding $HTX use cases and building consensus among developers and the community. These efforts aim to lay a solid foundation for the ecosystem’s long-term development.
On July 15, HTX DAO completed its Q2 2026 $HTX token burn, valued at more than $13.6 million, bringing cumulative burns and donations to 117.79 trillion tokens. In line with its quarterly burn schedule, the Q3 $HTX token burn is scheduled to take place on October 15.
On the ecosystem front, HTX DAO focused on developers and the community. The Genesis Hackathon, co-hosted by HTX DAO and B.AI, attracted more than 200 developer teams exploring $HTX use cases, AI agent finance, on-chain asset management, and DAO tools. At Future Night, HTX DAO ambassador Molly shared that several projects developed by global university teams participating in the hackathon had advanced to further incubation stages and were exploring ways to integrate with use cases across the $HTX ecosystem.
Molly also shared that nearly 200 active volunteers were independently contributing to HTX DAO community development. In the fourth quarter, HTX DAO plans to develop regional community nodes to support members in organizing events and exchanging ideas. She also noted that HTX, as an ecosystem participant, continues to optimize withdrawal fees, gather user feedback, and improve the app experience.
Navigating Market Cycles with Resilience, Shaping the Future Together with Users WorldwideThirteen years ago, HTX began as a digital asset trading platform. Today, it has grown into a comprehensive blockchain ecosystem serving users worldwide. Over the years, markets have experienced both highs and lows, and the industry landscape has evolved. Throughout these changes, HTX has remained committed to putting users first. Regardless of market conditions, improving its products and prioritizing the security of user assets remain among the platform’s top priorities.
Standing at the beginning of its 14th year, HTX will continue to navigate market cycles with resilience and build the future together with users worldwide.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, derivatives, research, investments, incubation, and other businesses.
Guided by its vision to “Achieve Financial Freedom for 8 Billion People Worldwide,” HTX works to make the digital asset space more accessible to a broader audience. The platform continues to develop its products and services in response to user needs and an evolving industry landscape.
To learn more about HTX, please visit https://www.htx.net.in/ or HTX Square , and follow HTX on X, Telegram, and Discord.
Disclaimer
This third-party press release is published substantially as received and does not reflect BeInCrypto's editorial views. BeInCrypto has not independently verified its claims or assessed the suitability, legality or appropriateness of any referenced asset, product or service; publication is not an endorsement. The content is general information, not investment research, financial, investment, legal or tax advice, a personal recommendation, offer or solicitation. Verify all information and seek professional advice where appropriate before acting. Crypto-assets may result in total loss.
Bitcoin, the world’s oldest and most valuable cryptocurrency, reached a market capitalization of $2.31 trillion in August 2025. Yet some analysts continue to consider extreme scenarios, including the possibility of Bitcoin’s price falling to zero, to examine how such a shock might affect the broader financial system and millions of holders worldwide.
Market size and institutional exposureGOBankingRates reported Bitcoin’s market value at $2.31 trillion as of August 2025, surpassing the entire cryptocurrency sector’s $1.6 trillion value from 2021, a year that itself marked rapid growth from $330 billion in 2020. Bitcoin is no longer held only by individual investors. Asset managers, institutions, and national treasuries have added it to their balance sheets, while products like ETFs and futures allow millions more to gain exposure indirectly through investment accounts.
The presence of Bitcoin on the books of major asset managers amplifies potential risks. GOBankingRates stated that the world’s largest asset manager controls $90 billion in Bitcoin, representing 3.9% of the total market value. This gives the market a large, stable participant but also introduces systemic vulnerability if prices collapse.
DateWhat was measuredValueSource2020Whole crypto market$330 billionThe EconomistAug 2021Whole crypto market$1.6 trillionThe EconomistAug 2025Bitcoin only$2.31 trillionGOBankingRatesAug 2025Bitcoin at largest asset manager$90 billionGOBankingRatesMini dictionary: ETF (Exchange-Traded Fund) – A type of investment fund traded on stock exchanges, which tracks the price of an underlying asset such as Bitcoin and offers exposure to its returns without direct ownership of the asset itself.
These figures demonstrate the scale of value tied to Bitcoin and the potential impact a severe decline could have on various parties.
Rapid growth and market reachThe Economist highlighted the pace at which the crypto sector has expanded. In 2021, the number of listed cryptocurrencies jumped from about 6,000 to 11,145—an 86% rise in just twelve months. Unique digital wallets holding crypto exceeded 100 million in the same year, roughly tripling the estimated 33 million from 2018. This spread reflected a growing user base, though a single person may control multiple wallets.
MeasureEarlier figureAug 2021 figureChangeListed currenciesAbout 6,00011,145Up about 86%Digital walletsAbout 33 million (2018)More than 100 millionAbout three times higherTotal market value$330 billion$1.6 trillionUp almost five timesCoinSwitch, a global crypto exchange aggregator, noted that many cryptocurrencies have lost almost all value or become inactive through the years, underscoring both rapid growth and high risk within the sector.
Examining Bitcoin’s collapse scenarioChangelly, a leading cryptocurrency exchange platform, discussed the possibility of Bitcoin crashing to zero, calling it extremely unlikely. The site emphasized the difference between a price collapse and a network shutdown, with Bitcoin’s software projected to continue operating even if the price of BTC hits zero. Holders managing their own wallets would retain control of their digital coins, though their financial value would be lost.
Nobel prize-winning economist Eugene Fama has contended that Bitcoin lacks intrinsic value since it pays no yield or dividend and is not backed by any asset. Fama’s view suggests that, in efficient markets, Bitcoin’s price could trend toward zero, although other analysts counter that such arguments may disregard technical and adoption-based factors.
Changelly identified deep liquidity, broad institutional demand, decentralization, and Bitcoin’s unique proof-of-work security as structural factors making a collapse improbable.
FactorHow it limits collapseDeep liquidityRequires huge coordinated selling worldwideInstitutional demandSteady buying from asset managers and fundsDecentralizationNo dominant entity can easily manipulate priceProof-of-work securityNetwork remains operational even during price swingsStill, GOBankingRates cautioned that large institutional holdings create a risk of contagion in the unlikely event of an extreme drop.
Routes to zero and stages of a crashChangelly outlined five potential scenarios that could push Bitcoin’s price to zero, ranging from a complete loss of public trust to severe regulatory bans, protocol failure, exchange collapse, and mining economics. CoinSwitch added that factors such as market sentiment, technological changes, and global regulation also influence outcomes.
RouteExplanationLoss of trustPanic selling accelerates the downfallProtocol failure/quantum threatNetwork broken via code flaw or powerful new technologyGlobal banInternational legal restrictions eliminate demandExchange meltdownMajor platforms halt withdrawals and tradingMining collapsePrice drops make mining unprofitable, undermining network securityThe mining risk is particularly quantifiable. When the cost of mining surpasses the value received, miners are incentivized to switch off machines, which can slow down the network and eventually open it to security threats like 51% attacks. The Bitcoin protocol automatically adjusts its mining difficulty about every two weeks based on network activity.
Mini dictionary: 51% attack – A situation in blockchain networks where a single actor or group gains control over more than half the network’s computational power, potentially allowing them to reverse transactions or double-spend coins.
Changelly described five successive phases in a potential Bitcoin collapse: initial steep price plunge, suspension of withdrawals and asset freezes on exchanges, network congestion with high transaction fees, mining shutdowns as security weakens, and spillover into traditional finance products such as ETFs. For example, in 2022, the stablecoin USDT briefly lost its dollar peg and traded as low as $0.92, illustrating how quickly extreme volatility can spread across assets.
With Bitcoin now interwoven into major asset managers, ETFs, and retirement accounts, a collapse to zero would have effects far beyond retail investors, potentially impacting pension funds, institutional portfolios, and confidence in financial markets.
Who would be affected?A crash would affect multiple groups simultaneously. Experts highlighted by GOBankingRates argue that losses at institutions with large Bitcoin exposure could trigger a crisis larger than previous financial disruptions. Younger investors, whose portfolios hold a greater share of digital assets, might lose confidence in investment altogether, while retirement savers in generations Y and Z face a significant hit to their assets.
GroupExpected effectLarge investorsLosses in ETFs, futures, balance sheetsYounger investorsPotential loss of trust and financial setbackRetirement saversLowered wealth for Gen Y and Gen ZExchange usersFrozen funds, delays in withdrawalsExchanges and issuersFurther regulatory scrutinyVince Stanzione, investor and author, observed that a future crash would feel more severe than previous cycles due to greater integration of related products and the wider range of investors now involved.
Both Changelly and CoinSwitch stressed the importance of secure custody practices, diversification, and personal ownership of private keys. While Changelly rates a crash to zero as extremely unlikely, the growing market size and interconnections prompt continued study of the potential scenarios and risks.
The integration of Bitcoin into large-scale financial products means that riskier outcomes impact a broader slice of the economy than ever before.
Very important data was released in the US yesterday and today. Yesterday’s CPI and today’s PPI data both exceeded expectations. CPI is currently almost double the Fed’s 2% target, while PPI is more than three times that target. PPI inflation was expected to fall in August, but instead it surged to 6.3%, reaching its second highest level in four years.
The fact that both inflation and producer price index (PPI) in the US exceeded expectations strengthened the likelihood of the Fed raising interest rates in 2026, while putting pressure on cryptocurrencies, especially Bitcoin.
The Downside Risk in Bitcoin is Higher!
As Bitcoin fell to the $80,000 level, on-chain analytics firm Glassnode stated that BTC was trading near its support level.
At this point, Glassnode noted that while BTC is trading near the $80,000 support level, there are also liquidation zones in the futures market that could trigger sharp price movements both upwards and downwards.
Citing estimated BTC futures liquidation data based on price ranges over the past two months, Glassnode noted that a large portion of long position liquidations were concentrated below $80,000, with another significant liquidation zone around $75,000.
Glassnode stated that the concentration of long position liquidations below $80,000 poses a significant risk that could accelerate Bitcoin’s decline.
In contrast, Glassnode noted that short liquidations on the upside have accumulated to over $85,000 this week.
Finally, Glassnode added that the downward liquidation zones currently appear more vulnerable than the upper range. In other words, the risk of a sharp downward move being triggered under current market conditions is seen as higher than that of an upward move. Furthermore, crypto analyst Darkfost, using a pseudonym, predicts that the correction in Bitcoin could deepen to $74,600.
According to Elliott Wave theory, the analyst states that the fifth wave of the uptrend has been completed and a correction process may have begun, suggesting that the $74,600 level seems possible. At this point, the analyst said that the decline may continue in the short term, but the uptrend has not yet been broken in the medium term.
*This is not investment advice.
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FOMC Polymarket betting odds show traders pricing a 73% chance that the Federal Reserve leaves interest rates unchanged at its October 27–28 meeting, against 27% for a 25-basis-point hike.
The odds come from Polymarket’s October contract, which has traded more than $41.5 million in volume. They are a market-implied probability, not a poll or an official Fed forecast, and they have moved quickly. An earlier snapshot taken at 07:53 UTC on October 15 showed a 75.5% chance of a hold, and hotter inflation data has arrived since.
The Kobeissi Letter reported that September PPI inflation rose to 6.3% against expectations of 5.3%, with core PPI at 5.0% against 4.4%, and that rate-hike odds were climbing on the news.
For Bitcoin traders, the odds put a number on one near-term macro risk: whether the next Federal Open Market Committee (FOMC) decision changes borrowing costs.
Rates shape Treasury yields, the dollar and appetite for risk assets, but the contract does not show who is trading it or how BTC will react.
Fed Decision in October Polymarket Have a Gut Feeling? It Pays on Polymarket
What Do the FOMC Polymarket Betting Odds Measure? The contract tracks the change in the upper bound of the target federal funds rate compared with its level before the October meeting. Besides a hold and a 25-basis-point hike, the listed outcomes include a hike of 50 basis points or more and cuts of 25 or 50 basis points or more, all of which are priced below 1%. A basis point is one-hundredth of a percentage point. If a decision does not match a listed outcome, the market rules round the change up to the nearest 25 basis points.
The market is scheduled to close on October 29, and its resolution is tied to the FOMC statement and Federal Reserve rate information. Because prices respond to every new data release, the odds should always be read with their timestamp.
Understanding the difference between prediction-market prices and conventional rate expectations matters when comparing signals. The distinction is explained in this guide to CME FedWatch and Polymarket rate odds.
Could a Fed Hold Ease Pressure on Bitcoin? JUST IN: Bitcoin falls under $80,000 pic.twitter.com/W98z2SlrdI
— Watcher.Guru (@WatcherGuru) October 15, 2026
An October hold could remove an immediate policy-change catalyst, but that is not the same as a bullish Bitcoin signal. A pause might bring near-term relief if it reduces concern about a sudden rate increase. Traders could also read it as tightening delayed rather than abandoned, and the December contract points that way: Polymarket prices an 80% chance of a 25-basis-point hike on December 9, against 19% for no change. A separate Polymarket market prices a 97% chance of zero Fed rate cuts in 2026.
The Federal Reserve’s September minutes describe market pricing and surveys that assigned considerable probability to at least 25 basis points of firming by year-end. They also describe persistent inflation, a resilient economy and uncertainty about the outlook. That is a description of market expectations, not a promise by the committee to raise rates in October or December.
For BTC, the practical distinction is between the immediate decision and the path markets anticipate afterward. A hold with language that keeps further increases in play could leave yields and the dollar sensitive to new inflation or economic data. A clearer pause in the expected path could ease that pressure, though the Polymarket contract itself does not predict Bitcoin’s price.
Bitcoin traders assessing October’s Bitcoin performance and macro risks still need to distinguish a single meeting’s outcome from the rate path beyond it.
DISCOVER: 10+ Next Crypto to 100X In 2026
When Is the Next Fed Decision? The Federal Reserve’s calendar lists the October 27–28 meeting, followed by a December 8–9 meeting. The October contract names the post-meeting FOMC statement as its resolution source, so the published decision, not the odds displayed beforehand, will determine the result.
Until then, the FOMC Polymarket betting odds are a changeable snapshot of market pricing. A hold would mean no adjustment to the target range at this meeting, but it would not tell Bitcoin traders whether the Federal Reserve considers its tightening cycle finished.
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Charles Edwards, founder and CEO of Capriole Investments, shared his outlook on Bitcoin’s next move towards an all-time high, outlining several potential catalysts that could drive a significant price breakout.
Key drivers for Bitcoin’s future rallyEdwards explained that for Bitcoin to reach a new record, the market needs a major development. He identified several factors that could ignite such a rally, including tangible advancements in quantum computing, a major change in Federal Reserve policy, direct Bitcoin purchases by the U.S. government, or the introduction of new economic stimulus measures.
He also highlighted the role of institutional adoption, noting that the continued inflows into Bitcoin spot ETFs have significantly strengthened the asset’s market foundation. ETF trading volumes remain robust, offering active demand even during broader market stagnation.
One possible trigger for Bitcoin’s next all-time high could be significant progress in quantum technology, a move by the Federal Reserve to ease monetary policy, government accumulation of Bitcoin, or the implementation of fiscal stimulus, Charles Edwards suggested.
Comparison: ETFs vs. treasury buyersEdwards discussed the changing landscape of institutional investment, comparing the impact of spot ETFs to that of treasury-focused companies accumulating Bitcoin as a reserve asset. He stated that while corporate treasuries played a crucial role during earlier bull runs, current ETF activity has created a broader and more liquid institutional base.
Institutional BuyerMethodCurrent ImpactTreasury CompaniesDirect reserves on balance sheetKey role in previous cyclesSpot ETFsPublic investment vehiclesMajor driver of recent inflowsQuantum computing: Disruptive potentialIn the interview, Edwards explored the idea that major developments in quantum computing could present both risks and opportunities for Bitcoin. He argued that if the technology advances to the point of threatening existing cryptography, it could actually boost Bitcoin adoption and prices, as industry participants race to secure and upgrade the network.
He stressed that the mere existence of a credible roadmap toward quantum hardware capable of challenging Bitcoin’s encryption could serve as a major upside catalyst, as it would trigger urgent innovations in blockchain security and create new narratives within the industry.
Mini dictionary: Quantum computing, an area of computer science that uses principles of quantum mechanics to process information at speeds far greater than traditional computers. Its potential impact on Bitcoin relates to encryption, as quantum computers could hypothetically break some current cryptographic methods, demanding new security solutions.
Market outlook, AI impact, and further risk factorsBeyond quantum technology, Edwards analyzed current market signals, including the effect of AI-driven unemployment on Federal Reserve policies and the state of liquidity with interest rates hovering around 5%. He also touched on the importance of Bitcoin’s rising hash rate, emphasizing its traditional role as a bullish indicator.
Edwards evaluated Bitcoin’s fair value through metrics such as production cost, energy expenditure, and market value-to-realized value (MVRV) ratios, noting that these fundamentals continue to suggest attractive long-term potential.
Charles Edwards is known for his data-driven analysis and investment strategies in the digital asset markets. Capriole Investments, based in Australia, focuses on quantitative strategies for cryptocurrency portfolio management.
In Edwards’ view, a remarkable catalyst is still needed for Bitcoin to break through current resistance and establish new historical highs, despite optimistic internal metrics and supportive institutional flows.
Bitcoin briefly slid below $80,000 for the first time in almost a month, swept up in a broader retreat from risk assets as an AI-led selloff on Wall Street undercut crypto’s attempt to rebuild a bullish tone.
The largest digital asset weakened as US stocks opened lower, with the Nasdaq 100 dropping as much as 1.8% after signs of slowing revenue growth at Anthropic deepened questions about the artificial-intelligence trade. Treasury yields fell as investors sought safety in bonds, while producer-price data and stronger-than-expected retail sales did little to shake expectations that the Federal Reserve will keep rates higher for longer.
Crypto is being pulled between those two forces: bullish sentiment among digital-asset analysts on one side, and a broader defensive turn across speculative markets on the other. Jeff Anderson, head of US at STS Digital, said the inflation data will “really hurt risk appetite” as markets enter the Fed blackout period with rate expectations “on a knife’s edge.”
The original digital asset slumped as much as 2.4% to $79,720, the least since Sept. 18. Bitcoin later pared the decline as stocks swung between gains and losses.
Traders are taking the dip as a warning sign of a broader directional downturn for Bitcoin, and are backing away from previous price targets of $100,000. On the crypto options platform Derive.xyz, the priced-in probability of Bitcoin climbing to $100,000 by Christmas fell by 2.8 percentage points to 9.7% over the past 24 hours, Derive.xyz founder Nick Forster said.
“This immediate pull-back from long-term upside bets alongside aggressive short-term hedging shows a dramatic regime shift, with institutional participants rapidly reassessing their macro risk exposure as the path for interest rates turns murky again,” Forster added.
James Thorne, Chief Market Strategist at Wellington-Altus Private Wealth, stated that Bitcoin has entered a new generational “supercycle” phase. During a recent discussion, Thorne drew from his experience analyzing commodity markets to outline why he believes this period for Bitcoin is fundamentally different than previous cycles.
Market shift and catalysts for a supercycleThorne explained that previous Bitcoin bull runs followed a predictable four-year pattern, but he now sees this structure as obsolete. According to him, shifts in global financial markets, including policy responses by central banks, are dramatically altering Bitcoin’s context and adoption.
He pinpointed the most recent core Consumer Price Index (CPI) data, noting that its upward pressure was caused mainly by shelter costs rather than increased energy prices. Thorne proposed that these inflation dynamics, along with evolving central bank policies, could accelerate Bitcoin’s momentum as investors look for alternative stores of value.
In reference to fundraising and investment trends, Thorne commented that certain hedge funds are displaying behaviors similar to so-called “bond vigilantes” of past decades, deploying flexible strategies as traditional financial systems change.
The Chief Market Strategist argued that “the next run in Bitcoin is going to be one for the ages,” emphasizing the role of structural shifts in the global economy and the unique characteristics that differentiate this market cycle from past Bitcoin rallies.
Settlement, strategy, and institutional adoptionThorne discussed the rising significance of Bitcoin in solving settlement problems, highlighting its potential role as pristine collateral in the financial world. He claimed that market participants are increasingly leveraging Bitcoin’s volatility as part of broader investment strategies.
This perspective reflects a wider trend among institutional investors, who are paying closer attention to digital assets and incorporating them into their portfolios.
He also addressed the impact of AI in financial markets, comparing it to pivotal moments in monetary history when shifts in technology or leadership altered established trends. Thorne remarked on how innovation in finance, such as tokenization, is helping to end delays in technological adoption, particularly in areas like asset settlement and collateral management.
Mini dictionary: Wellington-Altus Private Wealth is a Canadian investment advisory firm known for providing asset management and strategic advice to both high-net-worth individuals and institutional clients.
Bitcoin vs. gold and the future of digital assetsThe discussion turned to comparisons between Bitcoin and gold, with Thorne raising the question of whether Bitcoin’s market capitalization will eventually surpass that of gold. The evolving role of Bitcoin as an asset class and its increasing utility across diverse financial transactions were emphasized as catalysts for this potential shift.
He asserted that digital assets are no longer confined to speculative trading. Instead, elements such as tokenization and wider adoption by institutions are making Bitcoin an integral part of the global financial ecosystem.
Thorne suggested that “the four-year cycle is done,” indicating that Bitcoin’s price action and macroeconomic function may no longer follow historic patterns, as the digital asset sector matures and draws new categories of investors.
The conversation also touched on technological and regulatory developments, signaling further changes for the cryptocurrency industry as it evolves alongside broader trends in financial markets.
Bitcoin (BTC) dipped below $80,000 on Thursday as US Producer Price Index (PPI) data significantly beat expectations.
Key points:
Bitcoin briefly traded below $80,000 on the back of a 100-basis-point overshoot in US PPI inflation data.September PPI measured 6.3% against market expectations of 5.3%, the biggest monthly jump since March 2022.BTC price analysis saw the potential for a “volatile retest” of trend lines around $78,000 next.Biggest PPI increase since March 2022 adds to Bitcoin tailwindsData from TradingView showed BTC/USD slipping to its lowest levels since Sept. 18, declining as much as 1.8% on the day, before rebounding to around $81,000.
September PPI came in at 6.3%, a full 100 basis points above its anticipated level, while core PPI rose to 5% versus an expected 4.4%, per data from the Bureau of Labor Statistics (BLS).
“The September increase is the largest advance since rising 1.7% in March 2022. On an unadjusted basis, the index for final demand climbed 6.3% for the 12 months ended in September, the largest 12-month increase since moving up 6.4% in December 2022,” an official news release confirmed.
US PPI one-month % change. Source: BLS
The numbers come a day after the Consumer Price Index (CPI) also overshot estimates, causing crypto and risk assets to fall. Risk assets were already under pressure from a tech sell-off centered in South Korea, where the KOSPI Composite Index fell 7.5% on Thursday.
Economist Mohamed El-Erian described PPI as “even more striking” than the CPI result. El-Erian and others noted that US bond yields were not rising on the back of higher inflation numbers. The US 10-year bond yield was down almost 3% at the time of writing, at its lowest levels since Sept. 23.
US 10-year bond yield one-day chart. Source: Cointelegraph/TradingView
Robin Brooks, former chief FX strategist at Goldman Sachs, repeated earlier findings which suggested that yields had “decoupled” from US macro data as market priorities switched to the government’s handling of the federal budget deficit.
Brooks compared the 30-day correlation between upside data surprises and daily moves in the 10-year yield, and revealed that it had dropped from near 0.6 earlier in 2026 to just below zero as of the end of August.
“That indicates that yields have decoupled from data and the obvious explanation for this is that markets are more focused on the trajectory of the deficit, so they’re pushing up longer-term yields regardless of what data surprises are doing,” he summarized in a blog post last month.
Analysis eyes “early-stage bull market” support retestBTC price action meanwhile brought two support trend lines back into focus: the 21-week and 50-week exponential moving averages (EMA) at $76,144 and $78.459, respectively.
Trader and analyst Rekt Capital noted that BTC/USD could still retest both and preserve its overall bullish trend.
“Deviating below them on a volatile retest to find a pullback bottom has historically happened in early-stage Bull Markets. These deviations however would occur after a bullish crossovers of these two EMAs, whereas Bitcoin is still pre-crossover,” Rekt Capital said in an X post.
BTC/USD one-week chart. Source: Rekt Capital on X.com
Bitcoin remained below the area between $82,500 and $82,800, a key support zone of interest in recent weeks.
Analyst Aksel Kibar said that Bitcoin’s latest weekly close around $83,700 lacked strength as a breakout.
“A weekly close inside the range can resume wide consolidation between 60K-82.8K 75K can be utilized as the pattern (rectangle bottom reversal) negation level,” he said.
BTC/USD one-day chart. Source: Aksel Kibar on X.com
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Bitcoin (BTC) dipped below $80,000 on Thursday as US Producer Price Index (PPI) data significantly beat expectations.
Key points:
Bitcoin briefly traded below $80,000 on the back of a 100-basis-point overshoot in US PPI inflation data.September PPI measured 6.3% against market expectations of 5.3%, the biggest monthly jump since March 2022.BTC price analysis saw the potential for a “volatile retest” of trend lines around $78,000 next.Biggest PPI increase since March 2022 adds to Bitcoin tailwindsData from TradingView showed BTC/USD slipping to its lowest levels since Sept. 18, declining as much as 1.8% on the day, before rebounding to around $81,000.
September PPI came in at 6.3%, a full 100 basis points above its anticipated level, while core PPI rose to 5% versus an expected 4.4%, per data from the Bureau of Labor Statistics (BLS).
“The September increase is the largest advance since rising 1.7% in March 2022. On an unadjusted basis, the index for final demand climbed 6.3% for the 12 months ended in September, the largest 12-month increase since moving up 6.4% in December 2022,” an official news release confirmed.
US PPI one-month % change. Source: BLS
The numbers come a day after the Consumer Price Index (CPI) also overshot estimates, causing crypto and risk assets to fall. Risk assets were already under pressure from a tech sell-off centered in South Korea, where the KOSPI Composite Index fell 7.5% on Thursday.
Economist Mohamed El-Erian described PPI as “even more striking” than the CPI result. El-Erian and others noted that US bond yields were not rising on the back of higher inflation numbers. The US 10-year bond yield was down almost 3% at the time of writing, at its lowest levels since Sept. 23.
US 10-year bond yield one-day chart. Source: Cointelegraph/TradingView
Robin Brooks, former chief FX strategist at Goldman Sachs, repeated earlier findings which suggested that yields had “decoupled” from US macro data as market priorities switched to the government’s handling of the federal budget deficit.
Brooks compared the 30-day correlation between upside data surprises and daily moves in the 10-year yield, and revealed that it had dropped from near 0.6 earlier in 2026 to just below zero as of the end of August.
“That indicates that yields have decoupled from data and the obvious explanation for this is that markets are more focused on the trajectory of the deficit, so they’re pushing up longer-term yields regardless of what data surprises are doing,” he summarized in a blog post last month.
Analysis eyes “early-stage bull market” support retestBTC price action meanwhile brought two support trend lines back into focus: the 21-week and 50-week exponential moving averages (EMA) at $76,144 and $78.459, respectively.
Trader and analyst Rekt Capital noted that BTC/USD could still retest both and preserve its overall bullish trend.
“Deviating below them on a volatile retest to find a pullback bottom has historically happened in early-stage Bull Markets. These deviations however would occur after a bullish crossovers of these two EMAs, whereas Bitcoin is still pre-crossover,” Rekt Capital said in an X post.
BTC/USD one-week chart. Source: Rekt Capital on X.com
Bitcoin remained below the area between $82,500 and $82,800, a key support zone of interest in recent weeks.
Analyst Aksel Kibar said that Bitcoin’s latest weekly close around $83,700 lacked strength as a breakout.
“A weekly close inside the range can resume wide consolidation between 60K-82.8K 75K can be utilized as the pattern (rectangle bottom reversal) negation level,” he said.
BTC/USD one-day chart. Source: Aksel Kibar on X.com
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
Jensen Huang backs CoreWeave: The company’s financial conditions continue to improve and it does not require guarantees from NVIDIA.
Nvidia CEO Jensen Huang said data center operator CoreWeave’s financial health is improving. Nvidia is CoreWeave’s computing equipment supplier. Speaking at an event in Stockholm, Huang stated: “CoreWeave’s strength grows stronger every day.” He believes Nvidia does not need to provide financial guarantees for CoreWeave. “I am optimistic. In fact, their cost of capital is declining.” Earlier, credit market confidence in CoreWeave had deteriorated, with concerns rising over its default risk, and Huang is trying to restore market confidence in the company. CoreWeave is a key case testing the sustainability of business models for emerging AI infrastructure firms. These firms emerged to meet the nearly unlimited growth in AI computing power demand as described by companies like Nvidia. Backed by suppliers including Nvidia, CoreWeave and similar entities have taken on large amounts of debt, sparking market concerns about circular financing generating artificial demand.
3 minutes ago
During intraday U.S. stock trading, most crypto-related concept stocks turned positive, with Circle surging over 7%.
According to market data from BIT (bit.com), most US-listed cryptocurrency-related stocks turned positive during US trading hours. Circle (CRCL) rose 7.10%, Block (XYZ) gained 3.80%, Strategy (MSTR) rose 3.79%, Coinbase (COIN) gained 3.29%, and BitMine (BMNR) rose 1.71%.
3 minutes ago
Nasdaq is currently experiencing network issues, and clients may intermittently encounter data gaps.
Nasdaq stated it is currently experiencing network issues, which may cause intermittent data gaps for its clients. The firm recommends clients use Chicago-based data sources as a backup.
3 minutes ago
Jupiter launches YOLO, a high-leverage trading product modeled after PaperTrade, supporting up to 1000x leverage.
Jupiter co-founder SIONG announced in a post that Jupiter Labs has launched an experimental high-leverage trading product called YOLO, which offers leverage ranging from 500x to 1000x. The product adopts the JLP model framework, simulating positions based on real market prices, with actual realized profits and losses—no need to execute corresponding leverage positions in the open market. YOLO’s profits are disbursed from a dedicated fund pool. If the fund pool lacks sufficient liquidity to settle profit positions, payouts may be queued instead of processed instantly. SIONG emphasized that this model differs from traditional perpetual contracts, carrying its own unique risks and limitations. He stated that launching YOLO under Jupiter Labs is to provide a testing ground for such new financial products and trading experiences, without the need to adapt to existing offerings. Currently, YOLO remains in the early stage of development, with room for further improvement. The launch was inspired by PaperTrade, he added.
3 minutes ago
Final implementation rules for the GENIUS Act are expected to be released by the end of October.
Crypto journalist Eleanor Terrett reported that Office of the Comptroller of the Currency (OCC) Director Jonathan Gould said the final rules for the OCC’s implementation of the GENIUS Act are expected to be released soon, by the end of October. Gould made the remarks at the "Building the New Digital Economy" event hosted by the Milken Institute, which was held concurrently with DC FinTech Week.
3 minutes ago
The three major U.S. stock indices opened lower but climbed higher, with the S&P 500 index turning positive.
According to market data from BIT (bit.com), the three major U.S. stock indexes opened lower and moved higher: the S&P 500 turned positive, the Nasdaq’s decline narrowed to 0.4%, and the Dow Jones rose nearly 1%. Among component stocks, Micron Technology neared a positive turn after falling more than 6% earlier; Microsoft, Apple, and Google gained 0.5% each, while SanDisk and SpaceX fell 3%.
Philosopher Troy Cross, a professor at Reed College known for his work at the intersection of philosophy and cryptocurrency, shared his perspective on Bitcoin’s evolving societal role in a recent interview. Cross argued that while governments are unlikely to relinquish control over money issuance in the near future, Bitcoin serves as an important check against unchecked currency creation.
Bitcoin’s role as a counterbalanceCross stated that Bitcoin offers people an alternative when faced with policies of excessive money printing by central authorities. He believes that as inflation becomes an ongoing concern, both individuals and institutions increasingly view Bitcoin as a potential safeguard for their assets.
Bitcoin puts a check on endless money printing because people will take refuge in it when trust in state-backed currencies declines.
He noted that this dynamic does not require governments to voluntarily adopt Bitcoin or stop their current fiscal practices. Instead, Bitcoin’s existence and accessibility create market pressure, offering citizens a degree of economic freedom that did not previously exist.
The adoption timeline: innovators to academicsDuring the discussion, Cross highlighted a pattern in adoption across various social groups. He observed that technological innovators were the earliest to embrace Bitcoin, followed by those in finance, and then journalists. According to Cross, academic circles are likely to lag behind, as they often adopt new technologies only after they are widely recognized and established elsewhere.
While innovators and the financial sector tend to understand the value of Bitcoin early, academics are typically among the last to seriously engage with it.
Cross suggested that resistance in academic circles stems from a degree of institutional inertia and skepticism about digital currencies. Nevertheless, he expressed confidence that broader adoption will occur as education efforts continue and Bitcoin becomes a more normal part of the financial discourse.
Brand challenges and public perceptionCross addressed the perception issue facing Bitcoin, explaining that many people still confuse it with broader cryptocurrency markets or see it as too specialized. He emphasized the importance of clear messaging and education, citing recent public campaigns and increased engagement with Bitcoin-related content in major media as signs of growing interest.
He referenced survey data, such as the Nakamoto Project and a 2026 survey, showing Bitcoin’s recognition is spreading while also becoming a topic of political polarization. Despite ongoing debates, Cross noted that key metrics—such as article engagement rates—suggest the public is becoming more receptive to learning about Bitcoin.
Cross also pointed out that Bitcoin’s price movements serve as a universal signal, drawing in new participants and sparking broader conversations around financial systems and personal sovereignty.
Mini dictionary: Nakamoto Project, a research initiative collecting data and insights on Bitcoin adoption and the cryptocurrency’s influence on politics, economics, and technology.
Separation of money and stateLooking ahead, Cross argued that Bitcoin continues to force a broader conversation about the relationship between money and government. He believes that, even in the absence of direct policy changes, the option for people to store value outside traditional systems compels governments to consider the longer-term impact of inflation and currency devaluation.
Cross concluded that the ongoing increase in Bitcoin adoption and visibility reflects not just technical innovation, but also a shift in cultural attitudes towards financial independence and the role of state authority in the digital age.
In brief Crypto liquidations reached $948.22 million in 24 hours across 177,440 traders, with long positions accounting for 90.6%, per CoinGlass. Bitcoin fell 2.6% and broke support after hotter-than-expected CPI and PPI data revived bets on another Fed rate hike. Bitcoin now trades roughly 2% below the average cost of U.S. spot ETF holders near $82,300, putting those buyers back underwater. Bitcoin fell below $80,000 on Thursday for the first time in over a month, extending Wednesday’s inflation-driven slide and wiping out nearly $1 billion in leveraged crypto bets. It's currently trading just about $82,000 after several hours of increased volatility.
Ethereum and XRP dropped close to 5%, Zcash sank almost 10%, and only five coins in the top 100 managed gains above 1%. Pick any coin in the top 100 and it's likely in the red today.
Myriad: How low will Bitcoin go? Click to make your prediction.Across the market, 177,440 traders were liquidated in 24 hours for a total of $948.22 million, per CoinGlass, with longs accounting for $858.96 million, or 90.6%. Ethereum led with $282.03 million, with Bitcoin just behind at a little over $200 million.
This was the third-heaviest day for long liquidations in the last 90 days, behind October 8 and August 22. The largest single order liquidated yesterday was a $12.03 million Bitcoin long on Binance, force-closed at $80,208.96.
A liquidation happens when a trader borrows to bet on a price move and the market goes the other way. Once losses eat through the collateral, the exchange sells the position automatically, and that forced selling drags prices lower and trips the next batch of leveraged longs.
The trigger was Wednesday’s inflation report, which showed consumer prices up 3.7% year over year in September against a 3.6% forecast, with core inflation at 2.6% against 2.5%. Thursday’s Producer Price Index, which tracks business input costs, rose 6.3% annually versus a 5.5% forecast.
Much of that inflation comes from oil, with Brent crude near $104 a barrel, about 70% above a year ago amid the war between the U.S. and Iran. That feeds into fuel, shipping, and almost everything else that needs to be transported to reach consumers.
Hot inflation pushes the Federal Reserve toward higher interest rates, which lifts Treasury yields, the return investors earn for lending to the U.S. government. A bond paying around 5% with almost no risk makes Bitcoin a harder sell, while higher rates make borrowing pricier and strengthen the dollar, draining the cheap money leveraged crypto traders run on.
Iliya Kalchev, analyst at Nexo, reads the selloff as a broad exit from risk more than a Fed story, with stocks and copper falling, gold rising and South Korea’s Kospi down about 8%.
“Bitcoin has slipped to the bottom of the $81,000 to $87,000 range it has held since late September, and Glassnode flags $80,000 as the level to watch,” Kalchev told Decrypt. “It is also now roughly 2% below the average cost of U.S. spot ETF holders, near $82,300, after closing above that line on 21 of the 24 days since September 21. That puts ETF buyers back underwater, and reclaiming it is the first test of any rebound,”
On the daily chart, Bitcoin broke below $81,603, the strongest upper support from its August-to-October rally from $62,763 to $87,422, where uptrend pullbacks often stall. The drop reached $79,711 before buyers pulled the price back near $80,925, off a rising trend band near $80,286.
Bitcoin price data. Image: TradingviewThe Relative Strength Index, a 0-to-100 momentum gauge where 50 splits bulls from bears, fell to about 44, while the golden cross still keeps the longer-term uptrend intact.
A daily close back above $81,603 would reopen the path to $84,245 and the $87,422 swing high. Losing $80,286 would expose $78,002 as the next support, and then $75,092.
Kalchev sees early signs the selling is not deepening, including cooling profit-taking, but said a recovery needs more than a bounce.
“Three things need to line up for Bitcoin to push through. ETF flows have to turn consistently positive, after $681 million of outflows last week and a single $177 million inflow day. Selling by long-term holders has to ease,” Kalchev explained.
For Kalchev, a bullish market would require that leverage happens with a sustained buying instead of just a bounce. He added that a “Fed path that stops at one 25 basis point hike would take some pressure off the backdrop.”
The Fed announces its rate decision on October 28, followed by core PCE inflation data the next day and October payrolls on November 6.
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In brief Crypto liquidations reached $948.22 million in 24 hours across 177,440 traders, with long positions accounting for 90.6%, per CoinGlass. Bitcoin fell 2.6% and broke support after hotter-than-expected CPI and PPI data revived bets on another Fed rate hike. Bitcoin now trades roughly 2% below the average cost of U.S. spot ETF holders near $82,300, putting those buyers back underwater. Bitcoin fell below $80,000 on Thursday for the first time in over a month, extending Wednesday’s inflation-driven slide and wiping out nearly $1 billion in leveraged crypto bets. It's currently trading just about $82,000 after several hours of increased volatility.
Ethereum and XRP dropped close to 5%, Zcash sank almost 10%, and only five coins in the top 100 managed gains above 1%. Pick any coin in the top 100 and it's likely in the red today.
Myriad: How low will Bitcoin go? Click to make your prediction.Across the market, 177,440 traders were liquidated in 24 hours for a total of $948.22 million, per CoinGlass, with longs accounting for $858.96 million, or 90.6%. Ethereum led with $282.03 million, with Bitcoin just behind at a little over $200 million.
This was the third-heaviest day for long liquidations in the last 90 days, behind October 8 and August 22. The largest single order liquidated yesterday was a $12.03 million Bitcoin long on Binance, force-closed at $80,208.96.
A liquidation happens when a trader borrows to bet on a price move and the market goes the other way. Once losses eat through the collateral, the exchange sells the position automatically, and that forced selling drags prices lower and trips the next batch of leveraged longs.
The trigger was Wednesday’s inflation report, which showed consumer prices up 3.7% year over year in September against a 3.6% forecast, with core inflation at 2.6% against 2.5%. Thursday’s Producer Price Index, which tracks business input costs, rose 6.3% annually versus a 5.5% forecast.
Much of that inflation comes from oil, with Brent crude near $104 a barrel, about 70% above a year ago amid the war between the U.S. and Iran. That feeds into fuel, shipping, and almost everything else that needs to be transported to reach consumers.
Hot inflation pushes the Federal Reserve toward higher interest rates, which lifts Treasury yields, the return investors earn for lending to the U.S. government. A bond paying around 5% with almost no risk makes Bitcoin a harder sell, while higher rates make borrowing pricier and strengthen the dollar, draining the cheap money leveraged crypto traders run on.
Iliya Kalchev, analyst at Nexo, reads the selloff as a broad exit from risk more than a Fed story, with stocks and copper falling, gold rising and South Korea’s Kospi down about 8%.
“Bitcoin has slipped to the bottom of the $81,000 to $87,000 range it has held since late September, and Glassnode flags $80,000 as the level to watch,” Kalchev told Decrypt. “It is also now roughly 2% below the average cost of U.S. spot ETF holders, near $82,300, after closing above that line on 21 of the 24 days since September 21. That puts ETF buyers back underwater, and reclaiming it is the first test of any rebound,”
On the daily chart, Bitcoin broke below $81,603, the strongest upper support from its August-to-October rally from $62,763 to $87,422, where uptrend pullbacks often stall. The drop reached $79,711 before buyers pulled the price back near $80,925, off a rising trend band near $80,286.
Bitcoin price data. Image: TradingviewThe Relative Strength Index, a 0-to-100 momentum gauge where 50 splits bulls from bears, fell to about 44, while the golden cross still keeps the longer-term uptrend intact.
A daily close back above $81,603 would reopen the path to $84,245 and the $87,422 swing high. Losing $80,286 would expose $78,002 as the next support, and then $75,092.
Kalchev sees early signs the selling is not deepening, including cooling profit-taking, but said a recovery needs more than a bounce.
“Three things need to line up for Bitcoin to push through. ETF flows have to turn consistently positive, after $681 million of outflows last week and a single $177 million inflow day. Selling by long-term holders has to ease,” Kalchev explained.
For Kalchev, a bullish market would require that leverage happens with a sustained buying instead of just a bounce. He added that a “Fed path that stops at one 25 basis point hike would take some pressure off the backdrop.”
The Fed announces its rate decision on October 28, followed by core PCE inflation data the next day and October payrolls on November 6.
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Bitcoin retested $82,000, and the move cost leveraged short sellers $20 million in liquidations.
What happened at $82,000 A short is a bet that price will fall. Add leverage, and that bet is made with borrowed money that an exchange can pull the moment the trade moves against you.
When Bitcoin pushed back toward $82,000, some of those positions hit their liquidation thresholds. Exchanges closed them automatically, wiping out $20 million in short exposure.
Forced closures of shorts also mean forced buying. Each liquidated short has to be bought back, which can add a little fuel to the move that caused it in the first place.
Total liquidations across crypto derivatives markets topped $1 billion during some stretches of October 2026. CoinGlass data showed long positions making up roughly 80-90% of those totals.
Specific flushes included $771 million in liquidations, mostly from long trades. Separate events wiped out $120 million and $485 million at other points.
Why $82,000 keeps coming up Bitcoin has spent early to mid-October 2026 trading near $82,000. It has retested that level several times and slipped below it more than once.
Rising oil prices, fresh US inflation data, rising Treasury yields and moves in Asian equity markets have all weighed on risk appetite.
Spot Bitcoin ETFs in the US have also seen outflows totaling hundreds of millions of dollars in a single week.
Traders have been watching a support zone around $81,000 to $82,000. A second line sits lower, near $80,100.
Leverage is shrinking, but it has not left the building The heavy long liquidations earlier in the month forced a partial clean-out of the derivatives market. Bitcoin futures open interest dropped to around $52.7 billion afterward.
What this means for traders and investors The $20 million short squeeze tells you positioning had shifted. After weeks of punishing longs, enough traders had turned bearish that a bounce to $82,000 could catch some of them offside.
Still, the size of this squeeze is a reminder to keep expectations calibrated. A $20 million flush is a ripple compared to the $771 million long wipeout.
For anyone trading with leverage, the $81,000 to $82,000 zone remains the line to watch. A clean break below it could put the $80,100 level in play.
For longer-term holders, if US spot Bitcoin ETFs stop bleeding capital, that would remove one of the clearer sources of pressure this month.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Bitcoin has fallen 3.6% over the past 24 hours to around $81,500 as stronger-than-expected U.S. producer inflation has renewed concerns about another Federal Reserve interest rate increase.
Summary
U.S. producer prices rose 1.3% in September, the largest monthly increase since March 2022.
Annual wholesale inflation reached 6.3%, following Wednesday’s 3.7% consumer inflation reading.
Bitcoin traded near $81,500 after recording a 24-hour low of $80,443.
CME FedWatch pricing cited in the initial report put October rate hike odds at 34%.
The U.S. Bureau of Labor Statistics reported on Oct. 15 that September’s producer price index rose 1.3% from August, accelerating from the previous month’s revised 0.5% increase.
On an annual basis, the agency recorded a 6.3% rise in wholesale prices, the fastest increase since December 2022. The release followed Wednesday’s consumer inflation report, giving investors a second set of stronger price readings before the Fed’s October policy meeting.
Bitcoin retreats after failing to clear $84,000
According to the initial market report, Bitcoin traded around $81,500 following the PPI release, with its daily decline exceeding 3.6%. The report also placed Bitcoin below its 50-day moving average and recorded a 24-hour low of $80,443.
Before the inflation releases, crypto.news reported that Bitcoin had approached $83,900 during Asian trading on Oct. 14 before retreating toward $83,500, leaving a recovery above $84,000 incomplete.
In that coverage, analyst Ali Martinez identified $84,000 as a potential breakout level on the 4-hour chart. Martinez’s proposed route toward $93,000 depended on a confirmed close above resistance and continued upward price movement; it was a conditional target rather than a forecast that Bitcoin would reach that price.
The same report cited New York Fed President John Williams’ Oct. 13 remarks that another increase could be appropriate before the end of 2026, while economic conditions did not indicate a need for additional increases in 2027.
Energy prices drive September’s wholesale inflation increase
Within the September release, BLS attributed more than 80% of the increase in final-demand goods prices to energy, where prices jumped 10.8%. The agency recorded a 20.3% increase in gasoline prices, alongside increases in diesel, jet fuel, residential electricity and crude petroleum.
For final-demand goods overall, BLS reported a 2.6% monthly increase, the largest since the series began in December 2009. Food prices rose 1.2%, while goods excluding food and energy increased 0.3%, according to the release.
Across services, the agency recorded a 0.8% increase. BLS attributed nearly half of that advance to a 1.4% rise in trade-service margins, with transportation and warehousing services also becoming more expensive.
Using its measure excluding food, energy and trade services, BLS reported a 0.5% monthly increase and a 5% annual rise.
For comparison, July 15 coverage of Bitcoin’s rally after softer PPI described the opposite market reaction: Bitcoin reclaimed $65,000 after June producer inflation came in below expectations.
According to that report’s CME FedWatch snapshot, the probability of a July rate increase fell to 10.2%, down from roughly 16% after the preceding CPI release and above 30% a week earlier. The July report also recorded a 0.3% monthly decline in headline producer prices, while core PPI rose 0.2%, below the expected 0.3%.
October rate expectations remain divided after CPI and PPI
Following Wednesday’s CPI release, Reuters reported that annual consumer inflation reached 3.7%, while core inflation came in at 2.6%, exceeding the 2.5% forecast in its economist poll.
In the same report, PPHC chief economist Martin Beck said persistent inflation remained a concern, although weaker employment data and fragile consumer sentiment could allow the Fed to hold rates in October.
By Thursday, the initial report’s CME FedWatch snapshot assigned a 34% probability to a quarter-point October increase and a 66% probability to unchanged rates. Reuters separately reported roughly 30% odds, with the next policy meeting scheduled for Oct. 27–28.
Despite the inflation readings, Reuters recorded falling Treasury yields and a weaker dollar on Thursday. Its report also placed the Fed’s current benchmark range at 3.75%–4%, following September’s quarter-point increase.
U.S. Bitcoin ETF flows had slowed before the inflation releases
For U.S.-listed investment products, an Oct. 3 report documented slower Bitcoin ETF inflows during Sep. 28–Oct. 2, citing Farside Investors’ provisional figures.
According to the report, the funds attracted a provisional $82.9 million over that period, compared with $2.39 billion in the preceding week. BlackRock’s Friday entry was still pending when the figures were checked, so the reported weekly total was incomplete.
Across the individual sessions, Farside’s figures showed $31 million arriving on Monday and $66.2 million on Tuesday, followed by $148.7 million in Wednesday withdrawals. Thursday brought $102.7 million in inflows, while Friday’s reported intake stood at $31.7 million before the outstanding entry.
At the fund level, the report recorded $167.9 million in weekly withdrawals from Fidelity’s FBTC, $38.6 million from Bitwise’s BITB and $54.6 million from Grayscale’s GBTC. BlackRock’s IBIT attracted $292 million across Monday through Thursday, according to the same historical snapshot.
Litecoin (LTC) faces renewed selling pressure, with its price sliding to $59.90 after a 2.11% drop in the past 24 hours. Traders are closely monitoring whether the cryptocurrency can maintain its position above the critical $59 support level following a period of heightened volatility and weakened momentum.
Approaching critical support: price levels to watchRecent price action shows Litecoin retreating from its late September high above $70, slipping under the $64.45 mark, which had served as a key support during its previous climb. Technical analysis points to the $59–$59.40 level as a pivotal area, with the asset currently trading near the lower band of the 20-day Bollinger Band at $59.39.
While holding above this zone could allow LTC to consolidate and aim for a recovery toward $63, a daily close below it may trigger further declines, putting the next significant support at $54.18. A sustained rebound would require LTC to first recapture $63 and then test resistance at $64.45, before targeting the middle Bollinger Band line at $67.07.
Price LevelRole$59–$59.40Immediate support$63Short-term recovery target$64.45Key resistance$67.07Middle Bollinger Band$54.18Lower support if breakdown continuesMomentum indicators, derivatives data signal uncertaintyOn the daily timeframe, Litecoin’s relative strength index (RSI) sits at 40.29, well below its moving average of 56.21, suggesting that buying momentum has faded after September’s rally. Despite remaining above the typical oversold threshold of 30, its downward path points to sellers predominantly steering the market. Traders typically view a return above 50 on the RSI as an early sign of bullish momentum re-emerging.
Litecoin’s RSI trending below its average value points to diminished buying pressure, with sellers currently commanding the market. Recovery signs are likely to appear only if the RSI can climb back above 50.
Speculative activity in derivatives markets has also cooled. Data from CoinGlass shows open interest for Litecoin surged in late September, peaking near $700 million as LTC rallied toward the $70–$72 range. By October 14, open interest fell to roughly $550 million, tracking the coin’s price decline and signaling that traders are closing positions and reducing exposure.
Open interest alone does not distinguish between bullish and bearish bets. However, an increase in open interest paired with a price recovery may indicate a return of market participants, while increasing open interest amid further price drops could suggest growing bearish positioning.
Mini dictionary: Open interest — the total value of outstanding futures or options contracts in the derivatives market. Rising open interest can indicate growing market participation or increasing leverage, while falling open interest may signal traders are closing positions.
Community engagement and network activityThe Litecoin Foundation has recently highlighted its Proof of Time initiative, inviting users to share their personal cryptocurrency stories from various blockchain communities. While the campaign seeks to boost engagement across the Litecoin ecosystem, there is currently no evidence linking it directly to price moves.
Network metrics tracked by DeFiLlama provide additional insights. Daily activity generally hovers around $1 million, but the platform’s blue TVL line has trended downward since late September. While these metrics offer a broader context for LTC’s performance, recent data does not present a conclusive shift in network demand. Activity values should be distinguished from the separate scales used for transaction and active-address counts.
Despite ongoing participation on the network, lower price levels and declining TVL suggest a possible cooling in both speculative and user activity.
The near-term outlook for Litecoin depends on buyers’ willingness to defend the $59–$59.40 support region. A bounce back above $63 would turn attention to $64.45 and potentially toward $67.07, with renewed buying and stronger indicators required before any sustained recovery can be confirmed.
Ripple Prime has announced a new offering that allows institutional clients to access and settle Real World Asset (RWA) swaps against over 100 reference markets. This initiative provides 24/7 cross-margining across various asset classes, leveraging its partnership with Trade.xyz on Hyperliquid. The development marks a significant step in Ripple Prime’s expansion into the crypto-derivatives segment, which has seen substantial growth, with RWA perpetual-contract open interest surging to approximately $9 billion. Market participants appear to interpret this move as consistent with increased utility for XRP, potentially influencing its price trajectory.
Key Takeaways Ripple Prime’s move suggests increased engagement in the crypto-derivatives market, now offering 24/7 RWA swaps. Market sentiment appears consistent with a potential positive impact on XRP’s utility and adoption. Despite the potential implications, the impact is moderated by the source’s Tier 3 status on social media. What to Watch Observers should monitor reactions from key industry players such as Brad Garlinghouse, BlackRock, and Grayscale, which could provide further insights into the strategic significance of this development. Future announcements regarding XRP ETF approvals or new payment corridors involving major banks might offer additional evidence of Ripple’s expanding influence. Conversely, unfavorable macroeconomic conditions, such as sustained high interest rates or new regulatory challenges, could counteract positive sentiment around XRP’s prospects.
Bitcoin and XRP fell further on Thursday as hotter-than-expected US PPI inflation data reinforced concerns over Fed rate hikes. The data followed a hotter-than-expected CPI inflation print a day before. Stock and crypto market investors now await comments from Fed Chair Kevin Warsh later today.
US PPI Inflation Surges to 1.3 MoM and 6.3% YoY The US Bureau of Labor Statistics released the September PPI inflation data on October 15. The PPI MoM jumped 1.3% in September on a seasonally adjusted basis, above the 0.6% forecast. This marked the largest monthly rise since March 2022.
Annual PPI inflation came in at 6.3%, massively higher than expected at 5.4%. It even surpassed 5.6% in the prior month. This comes amid elevated oil prices due to a renewed US-Iran war and escalating Middle East tensions.
The core PPI reading came in hotter than expected at 0.7% MoM, pushing the annual increase to 5%. Core PPI YoY surged to 4.4%, above expectations and even the previous month’s 4.8%.
The print builds on Wednesday’s hotter CPI inflation data of 3.7% YoY, which already lifted near-term Fed rate hike odds. Markets are now pricing in 34% odds of a 25 bps rate hike in October and 66% chances of a pause, according to CME FedWatch data.
Moreover, retail sales in the US increased 0.8% MoM, after an upwardly revised 1.3% rise in August and well above forecasts of 0.3%. This shows resilience in the US economy and opens room for another potential Fed rate hike this month.
Inflation is RED hot in the US.
For anyone not keeping track, US CPI inflation is now nearly double the Fed's 2% target and US PPI Inflation is more than triple that target.
PPI inflation was expected to fall in August, but instead it surged to 6.3%, its second highest level in…
— The Kobeissi Letter (@KobeissiLetter) October 15, 2026
Bitcoin and XRP Prices Plunge Bitcoin fell near $81,500, extending the 24-hour drop to more than 3.60% after the hot PPI inflation print. It has now tumbled even below the key 50-day moving average support level. The 24-hour low was $80,443 as the broader crypto market faced pressure from elevated rate expectations.
XRP price fell deeper and holds near $1.30, down more than 5% over the past 24 hours. As CoinGape reported today, a popular analyst predicted a fall towards $1.25 before buying pressure to reclaim $1.42 and $1.60 amid strong upside momentum.
However, the 10-year Treasury yield has dropped to 5.06% as investors rotate from tech stocks to government bonds for safety amid sustained AI investments. Meanwhile, the US dollar index (DXY) pulled back from its peak to around 102.10 on Thursday.
Attention now turns to Fed Chair Kevin Warsh’s fireside chat with IMF Managing Director Kristalina Georgieva later today. Any hawkish lean on inflation or Fed monetary policy could further pressure Bitcoin, stocks, and other risk assets. A more measured tone might offer temporary relief.
The XRP Ledger’s latest proposed amendments, aimed at adding native lending functions and confidential token transfers, have yet to reach the approval level required for network activation. Data captured on October 15 shows that the LendingProtocol amendment received support from 19 out of 35 validators, while the ConfidentialTransfer proposal attracted 22 votes. Both proposals remain below the necessary supermajority threshold of 29 validators for amendment passage.
Validator Support Shows Steady GrowthSupport for both the LendingProtocol and ConfidentialTransfer amendments has increased since late September. At that time, LendingProtocol had 15 validators in favor, while ConfidentialTransfer had won over 14. Despite this progress, the two amendments still lack enough sustained backing to proceed past the network’s voting requirements.
The XLS-66 Lending Protocol amendment aims to implement native fixed-term lending capabilities directly into the XRP Ledger. By leveraging code on the ledger itself, it would offer an alternative to decentralized lending platforms that depend on external smart contracts for loan origination and management.
This system is contingent on the approval of the SingleAssetVault amendment, which allows users to pool assets and receive tokenized vault shares as evidence of their participation. According to the latest data, ConfidentialTransfer currently leads with 22 validator votes, SingleAssetVault holds 21, and both lending amendments remain at 19.
The XLS-66 specification clarifies that its lending protocol would permit uncollateralized loans. Risk assessment and credit checks would remain external to the XRP Ledger, which means borrower default is still a possibility under the system’s design.
ConfidentialTransfer: Privacy for Multi-Purpose TokensThe ConfidentialTransfer amendment, described in XLS-96, would enable confidential transactions for supported Multi-Purpose Tokens through encryption and zero-knowledge proofs. With these tools, details such as token balances and transaction amounts would be kept private, although the underlying validity of transactions could still be verified by the network.
The proposal’s privacy features do not extend to all transactions on the XRP Ledger. Initially, confidentiality would apply only to supported Multi-Purpose Tokens—not to ordinary XRP transfers—if the proposal receives sufficient approval from validators.
Under XRP Ledger’s amendment framework, a proposal requires over 80% validator support for two consecutive weeks to become active. Recent figures from the amendment dashboard reveal that both LendingProtocol and ConfidentialTransfer still fall short of this mark, though support is trending upward compared to previous reports.
Institutional Impact and Technology ToolsThe new lending proposals carry additional weight for large institutional holders. Evernorth, a company traded on Nasdaq and currently holding roughly 473 million XRP, has outlined intentions to participate in new XRP-based financial strategies as soon as appropriate infrastructure becomes available.
Market observers note that the evolution of the XRP Ledger depends heavily on validator consensus, with new features only launching after consistent supermajority agreement. These governance practices are designed to maintain stability while supporting innovation across the network.
In an environment where announcements from the Federal Reserve or a rapid listing of altcoins can abruptly change market direction, many traders are seeking more efficient ways to keep up. Instead of handling charts, market news, and portfolio tracking with multiple platforms, some have started using tools like CryptoAppsy. This privacy-first solution combines real-time charts, personalized price alerts, project-specific news, and macroeconomic data—all on a single screen—with no registration required.
XRPL version 3.3.0 introduced support for several proposed features earlier in the year, but these changes do not become active by default. Network activation depends on sustained validator votes and broad community engagement.
American XRP ETFs continue to attract capital. After thirteen consecutive weeks of positive inflows, these funds are approaching $1.8 billion in cumulative net inflows. Meanwhile, Ripple is multiplying initiatives with two new agreements in international brokerage and South Korea. However, the XRP price remains under pressure.
In Brief American XRP ETFs total approximately $1.803 billion in net inflows after thirteen consecutive weeks of inflows. Their net assets reach $1.509 billion, which is $294 million less than the amount invested. On October 14, Ripple announced two partnerships: one with DriveWealth around the stablecoin RLUSD, and the other with Meritz Securities in South Korea. Thirteen Weeks of Inflows, but an Irregular Pace On October 14, the five American XRP ETFs recorded $740,400 in net inflows. Bitwise accounted for the entire inflow, bringing its cumulative inflows to approximately $688 million. Overall, the funds now show nearly $1.803 billion in positive net flows, as confirmed by XRP ETF tracking.
This dynamic contrasts with that of Bitcoin ETFs, whose inflows have sharply slowed in early October. According to SoSoValue data, XRP funds thus continue their thirteen-week positive streak, despite a less favorable market.
Why XRP Decreases Despite Capital Inflows Investments in ETFs are not enough to support the price. XRP trades around $1.32, down 7% over seven days. After hovering near $1.42 on October 12, the token retreated following the release of higher-than-expected U.S. inflation figures.
Another figure draws attention: ETFs have $1.803 billion in net inflows, but their assets are only worth $1.509 billion. This $294 million gap illustrates the effect of XRP’s decline on the value of investments.
Moreover, the token is losing ground in the market. Its share of the total crypto market capitalization has fallen from about 5% to nearly 3% in fifteen months. This trend highlights its relative decline compared to other digital assets.
Ripple Multiplies Partnerships Without Rushing Launches Meanwhile, Ripple continues its institutional development. On October 14, the company announced a partnership with DriveWealth, a brokerage infrastructure provider supporting over a hundred partners.
The two companies plan to integrate RLUSD, Ripple’s dollar-backed stablecoin, on the XRP ledger to facilitate transaction settlement, starting with Europe. They are also exploring cross-border payments and asset custody. However, they have not announced any launch date or volume target.
In South Korea, Ripple also concluded an agreement with Meritz Securities. This broker becomes its first local partner in this sector. The two companies will study custody and tokenization solutions adapted to South Korea’s regulatory framework, as Seoul prepares a first phase of regulated securitization by February 2027.
These announcements extend an already busy news cycle, notably marked by Evernorth’s Nasdaq debut on October 12. Will investments in ETFs and Ripple’s advances ultimately support the XRP price sustainably?
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
US spot XRP exchange-traded funds (ETFs) recorded net inflows of just $740,400 on October 14, underscoring a pronounced drop in fresh institutional demand compared to previous weeks. The slowdown comes despite total cumulative investments in these funds reaching nearly $1.8 billion since their initial launches in November 2025.
ETF inflows decline as trading volume contractsRecent data highlight a widening gap between the amount investors have allocated to XRP ETFs and the new funds entering the products. As of October 14, these ETFs managed approximately $1.509 billion in net assets, which is about $294 million less than their cumulative net inflows over the period.
SoSoValue, a cryptocurrency analytics provider known for its daily ETF tracker, reported that cumulative net inflows for US spot XRP ETFs had reached $1.803 billion. However, only Bitwise, a digital asset management firm specializing in cryptocurrency funds, registered new inflows on October 14, while other issuers remained flat.
These numbers present a stark contrast compared to previous months. On September 25, US spot XRP ETFs attracted approximately $22.6 million in new capital, with $14.9 million and $18 million recorded on the two prior days.
By October, daily inflows had fallen sharply, with just $740,400 reported on October 14. The entire amount was directed to the Bitwise XRP ETF.
Issuer performance and market contextBitwise has emerged as the largest single XRP ETF provider based on net inflows, accumulating about $688 million since its fund’s launch. Franklin Templeton, a major global asset manager, followed with approximately $509 million in net inflows, while Canary Capital reported nearly $487 million.
Other issuers, including Grayscale and 21Shares, reported no fresh investor inflows on October 14, reinforcing the overall trend of slowing institutional engagement.
The weaker daily inflow figures follow a period characterized by sustained institutional interest in XRP, during which XRP ETFs experienced a 13-week run of net inflows, even amid a decline in XRP’s market price.
Investors have continued to allocate funds to XRP ETFs, even as the price of the underlying digital asset weakened and daily inflow rates declined.
Market observers noted that a single session of reduced inflows does not necessarily indicate a broader investor retreat from XRP ETFs, though it does illustrate shifting sentiment among large players.
Asset value and cumulative inflows divergeAs of October 14, cumulative net inflows for US spot XRP ETFs totaled $1.803 billion, while their combined net asset value reached just $1.509 billion. This $294 million difference underscores the impact of price volatility, fund-level decisions, and other market factors.
ETF net inflows reflect the difference between investor subscriptions and redemptions, whereas net assets are based on the latest market valuations of ETF holdings. Fluctuations in XRP prices, as well as the timing of asset purchases, influence these figures and should be interpreted cautiously.
Mini dictionary: SoSoValue — A data analytics service tracking cryptocurrency ETF metrics, inflows, and assets under management for institutional and retail investors.
ETF IssuerCumulative Net InflowsNet Assets (Approx.)Latest Daily InflowBitwise$688 million—$740,400Franklin Templeton$509 million—$0Canary Capital$487 million—$0Other issuers——$0The divergence between inflows and asset values does not directly reveal investor profit or loss, as it depends on the timing of investments, subsequent market movements, and structural adjustments within the funds.
Market trends and outlookThe latest inflow slowdown comes as XRP struggled to recover from a broader October cryptocurrency market selloff. During the period from October 5 to October 9, XRP fell by about 7.3%, even as spot XRP ETFs received around $11 million in new investments.
Analysts claim that while regulated investment channels are drawing capital, these inflows have not been enough to fully balance selling pressure in the wider market.
Despite current daily inflow weakness, cumulative ETF inflows have remained resilient, suggesting that long-term interest persists even as ETF asset values track ongoing XRP price volatility.
BUSINESSWIRE: Cross River Embeds Ripple USD Stablecoin on the XRP Ledger into its Core Banking Infrastructure, Expanding Faster Payment Capabilities for Businesses
According to a recent Bloomberg report, Ripple is broadening its reach in the traditional finance space by opening up access to perpetual futures for stocks, commodities, and other traditional assets for institutional investors.
Ripple's prime brokerage arm, Ripple Prime, is launching the new service that will give institutions access to over 100 markets, including equities, stock indexes, exchange-traded funds (ETFs), and commodities.
The new offerings come at a time of explosive growth in perp contracts on real-world assets, with open interest across several major platforms jumping from near zero to around $9 billion in the last year.
HOT Stories
Unlike traditional futures contracts, perpetual contracts don't expire, so users can hold leveraged positions without needing to roll them over into new contracts.
Ripple expands Wall Street ambitionsThe new products are being rolled out via Trade.xyz, which is a large trading platform for perp contracts on traditional assets on the decentralized Hyperliquid platform.
Earlier this year, in February, Ripple Prime launched crypto perpetual futures as part of its growing efforts to offer a full trading solution for institutional investors.
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The new offering includes features like cross-margining, where investors can leverage the same collateral across different positions instead of needing separate margins for each trade.
Per Michael Higgins, the international CEO of Ripple Prime, this new setup could allow institutional users to more effectively manage their capital and access new liquidity pools.
At the same time, Higgins stressed that with this new offering, institutions can gain exposure to these markets on a "more regulated" infrastructure.
Perps futures grow in appeal to institutionsThe explosion in growth for real-world asset perpetual futures has been drawing increasing interest from hedge funds and professional market makers.
As Higgins pointed out, institutional traders are now looking into various strategies around using these new instruments.
On the one hand, some investors are looking to pursue basis trades by taking positions on perps and their underlying assets to exploit price discrepancies. That would let them avoid general market exposure.
Meanwhile, Higgins indicated that traditional hedge funds are on the cusp of being able to get direct access to tokenized real-world assets.
XRP flashes three TD Sequential buy signals near $1.31 after an extended decline, putting a possible local bottom and rebound toward $1.40 in focus.
XRP is showing a cluster of TD Sequential buy signals near $1.31 after an extended decline from the $1.50 area, raising the possibility that selling pressure is approaching exhaustion.
The daily setup now carries a Sequential 13, a TD 9, and an Aggressive 13 around the same price region.
XRP Daily Chart Buy Signals and Resistance
XRP trades near $1.31 at the time of writing after spending much of October moving lower.
The latest signal cluster has appeared only after price lost several short-term support levels and returned to its lowest area on the displayed chart.
Three Buy Signals Cluster Around $1.31
The chart shows the first exhaustion marker, a Sequential 13, appearing as XRP approached the latest lows.
It was followed by a standard TD 9, while an Aggressive 13 has now formed in roughly the same zone.
These signals measure different stages of an extended directional move. A TD 9 looks for a sequence of consecutive closes that can indicate the current trend is becoming stretched.
The 13-counts go further, tracking a longer period of exhaustion.
Seeing all three appear close together strengthens the technical case that the decline is mature, but it does not confirm that the low is already in.
That distinction is important. TD Sequential readings identify conditions where a reversal can develop; buyers still need to step in and produce the price reaction.
$1.40 Is XRP’s First Recovery Test
If the $1.30-$1.32 region develops into a local floor, $1.40 becomes the first level XRP needs to recover.
From approximately $1.31, reaching $1.40 would require a gain of about 6.9%.
A move through that area would provide the first evidence that the exhaustion signals are receiving follow-through from buyers. XRP would then face the more significant resistance area around $1.50.
The chart shows that the recent decline accelerated after XRP lost the $1.50 region, making a return there a much more demanding test. From $1.31, XRP would need to recover roughly 14.5% to reach $1.50.
Buy Signals Still Need Price Confirmation
The downside remains straightforward.
If XRP continues making new lows despite the TD Sequential readings, the signals would have failed to establish an immediate turning point.
A loss of the current $1.30 area would therefore keep attention on lower support rather than the projected rebound levels.
For now, however, the setup has changed in one important respect: three separate exhaustion signals are clustering around the same price zone after a prolonged selloff.
The next test is whether that technical exhaustion translates into actual demand.
A recovery above $1.40 would strengthen the local-bottom case, while reclaiming the resistance near $1.50 would represent a much larger repair of XRP’s recent bearish structure.
Large XRP holders have ramped up their transfers to Binance, bringing whale deposits to the cryptocurrency exchange to the highest levels seen in seven months. This development comes as XRP’s price continues to slip, trading close to $1.30 after it fell below major technical support levels.
Whale inflows surge, price faces pressureData from blockchain analytics firm CryptoQuant shows the 30-day total of significant XRP deposits to Binance stands at nearly 1.6 billion tokens. This figure matches levels reported in early April. By late July, the sum had fallen to about 400 million XRP, so the pace of large-holder deposits has quadrupled in less than three months. The most substantial single-day deposit activity occurred in mid-August, coinciding with XRP briefly rallying to $1.70.
Whale inflows to exchanges often attract attention because assets transferred to trading platforms are more readily available for sale. One analyst commented that increased deposits by large holders can expand the volume of XRP on centralized exchanges, increasing the risk of selling pressure as a result. While deposits do not guarantee an imminent sale, they do facilitate larger trades if sentiment weakens.
Increased whale inflows to centralized exchanges can increase the amount of XRP available for trading, potentially raising the risk of selling pressure.
PeriodXRP Whale Deposits to BinanceEarly April1.6 billion XRPLate July400 million XRPCurrent (Past 30 days)1.6 billion XRPXRP’s technical signals and support levelsXRP touched a peak near $1.66 in late September but has since dropped by about 20%. The token has fallen below the 100-day moving average and the 200-day moving average around $1.38—a bearish signal for market participants. Trading volume has also decreased, and the daily relative strength index (RSI) currently sits near 35, reflecting weak momentum. While not yet in oversold territory, the token is hovering near its next support at $1.28, having just tested this level. If downward pressure persists, the $1.00 to $1.05 area is viewed as the next significant price floor.
Technical analysts often interpret a break below two key moving averages as confirmation of a negative trend, with persistent whale deposits worsening the outlook for potential buyers.
For XRP buyers to regain control, the price would need to reclaim $1.38, putting it back above both moving averages. Until then, the market appears to remain in favor of sellers, and additional downside toward $1.20 is possible if whale inflows continue while prices stay under $1.30. Conversely, if significant deposits slow and the token holds above support, the current correction could simply represent a pause within a broader trading range.
Mixed signals from on-chain activityXRP Ledger’s on-chain data presents a mixed picture. Daily network transactions remain steady at approximately 2.4 million, and the number of active accounts has risen 10%. However, payment transactions have dropped by 38% and overall payment volume is down 52%. This pattern suggests more wallet activity, likely linked to trading rather than increased real-world payments or adoption.
Founded by Ripple Labs, the XRP Ledger is an open-source blockchain designed to facilitate global payments and currency exchange. It supports a wide range of tokenized assets and provides fast, low-cost transactions.
Mini dictionary: CryptoQuant, a blockchain analytics platform that provides real-time data on cryptocurrency flows, including exchange activity and investor behavior analysis.
Until price action reverses and whale activity subsides, analysts believe caution is warranted for market participants watching XRP’s next moves.
XRP price has fallen toward $1.31 as daily momentum weakens, while analyst Ali Martinez sees a possible test of $1.25 before a rebound toward $1.42 or $1.60.
Summary
XRP price traded near $1.318, with its weekly chart showing a decline of approximately 6.5%. Daily RSI stood at 36.84 as XRP traded near its lower Bollinger Band. Ali Martinez identified $1.25 as potential support, with conditional recovery targets of $1.42 and $1.60. CoinGlass showed prominent liquidation clusters above the market near $1.39 and $1.43. TradingView’s Binance XRP/USDT charts placed the token around $1.317–$1.318 on Oct. 15, following a decline to $1.284. The weekly chart recorded a 6.54% loss, while the daily chart showed a 1.07% decline.
XRP’s retreat coincided with renewed attention to U.S. inflation. The Bureau of Labor Statistics reported that September consumer prices rose 3.7% from a year earlier, up from 3.4% in August, and increased 0.6% during the month.
XRP tests its lower Bollinger Band near $1.31 TradingView’s daily chart showed XRP trading just above its lower Bollinger Band at $1.3077 after briefly falling beneath it. The session’s $1.284 low marked the nearest downside reference, with the price subsequently recovering above $1.30.
XRP price daily chart — Oct. 15 | Source: TradingView The same chart placed the middle Bollinger Band, which tracks the 20-day simple moving average, at $1.4440. XRP traded approximately 8.8% below that level, leaving a sizeable gap between its current price and the indicator’s central trend line.
The upper band stood at $1.5803. Together, the three readings placed XRP near the bottom of its daily volatility range after its late-September advance faded.
TradingView’s price history showed XRP climbing above $1.60 during that earlier advance before retreating through October. The latest decline returned the token toward the lower end of the range it had occupied before that rally.
Daily momentum also weakened. TradingView’s relative strength index stood at 36.84, below both the neutral 50 level and its displayed average of 46.89.
The RSI remained above the conventional oversold threshold of 30. Its position below its average accompanied the price decline, without yet showing a recovery above either reference level.
For the daily chart, the nearest upside checkpoints were therefore a sustained move away from $1.3077 and a recovery toward $1.4440. The upper Bollinger Band near $1.58 remained further above the market.
Martinez places a potential rebound zone at $1.25 Ali Martinez’s Oct. 15 analysis described XRP as trading within a parallel channel on the hourly chart. He said the price could fall toward the lower boundary around $1.25 before staging a meaningful rebound.
XRP REBOUND INCOMING!?$XRP appears to be trading inside a parallel channel on the hourly chart.
This structure suggests XRP could still drop toward the lower boundary around $1.25 before seeing a meaningful rebound.
That’s the level I’m watching for a potential buying… pic.twitter.com/Et9Q11p08w
— Ali Charts (@alicharts) October 15, 2026 His first recovery target was the channel’s middle area near $1.42. A stronger rebound could extend toward the upper boundary around $1.60, according to his analysis.
From approximately $1.318, a decline to $1.25 would represent another 5.2% drop. A subsequent move from $1.25 to $1.42 would amount to a 13.6% rebound, while a rise from that support to $1.60 would equal 28%.
Martinez’s scenario depended on buyers responding near the lower channel boundary. His analysis presented $1.25 as a potential buying area rather than an established floor.
A separate Oct. 15 post from the analyst publishing as CW described XRP as showing a rebound near a buy wall. The accompanying order-book chart displayed a green buying zone below the recent trading range and several red selling zones overhead.
CW’s observation focused on a nearby buying response, while Martinez’s analysis allowed for another decline before a broader recovery. Both posts discussed potential rebounds within a market that remained below its recent highs.
Liquidation clusters build above XRP’s current price CoinGlass’s one-week XRP liquidation heatmap showed the price falling from roughly $1.40 toward $1.31, with repeated declines interrupting short recoveries.
XRP liquidation heatmap | Source: CoinGlass At the right edge of the heatmap, prominent overhead concentrations appeared around $1.39 and $1.43. Another visible band sat near $1.34–$1.35, closer to the latest price.
Those areas represented estimated liquidation exposure at different price levels. They were distinct from the resting buy and sell orders shown in CW’s order-book analysis.
Below the market, CoinGlass displayed several bands around $1.29–$1.30, followed by additional concentrations near $1.28. The latest price swings had already passed through parts of that lower region.
The heatmap’s overhead cluster around $1.39 sat below Martinez’s $1.42 midpoint target. The stronger concentration near $1.43 was also close to the daily Bollinger midpoint at $1.4440.
Across the three datasets, the $1.39–$1.44 region contained several separate reference points: estimated liquidation exposure, an analyst’s channel midpoint and the daily moving average.
Weekly chart leaves $1.17 below and $1.56 overhead TradingView’s weekly Murrey Math indicator placed XRP between the $1.1719 lower trading-range level and the $1.5625 major support-and-resistance pivot.
XRP price weekly chart — Oct. 15 | Source: TradingView At approximately $1.318, XRP remained below that weekly pivot after its recent attempt to recover toward the $1.60 area. The chart’s next higher range marker stood at $1.9531.
On the downside, the weekly $1.1719 level sat below both the latest $1.284 low and Martinez’s proposed $1.25 support area. A move toward it would extend the decline beyond the hourly rebound setup he described.
The weekly Awesome Oscillator remained positive at 0.1283, although its latest histogram bar was red. The positive reading contrasted with the weaker daily RSI, showing that the two timeframes carried different momentum readings.
For XRP’s recovery scenario, Martinez identified $1.42 and $1.60 as conditional targets. TradingView placed the daily midpoint near $1.44 and the weekly pivot near $1.56, leaving several overhead levels between the current price and the top of his projected rebound range.
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Jensen Huang backs CoreWeave: The company’s financial conditions continue to improve and it does not require guarantees from NVIDIA.
Nvidia CEO Jensen Huang said data center operator CoreWeave’s financial health is improving. Nvidia is CoreWeave’s computing equipment supplier. Speaking at an event in Stockholm, Huang stated: “CoreWeave’s strength grows stronger every day.” He believes Nvidia does not need to provide financial guarantees for CoreWeave. “I am optimistic. In fact, their cost of capital is declining.” Earlier, credit market confidence in CoreWeave had deteriorated, with concerns rising over its default risk, and Huang is trying to restore market confidence in the company. CoreWeave is a key case testing the sustainability of business models for emerging AI infrastructure firms. These firms emerged to meet the nearly unlimited growth in AI computing power demand as described by companies like Nvidia. Backed by suppliers including Nvidia, CoreWeave and similar entities have taken on large amounts of debt, sparking market concerns about circular financing generating artificial demand.
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During intraday U.S. stock trading, most crypto-related concept stocks turned positive, with Circle surging over 7%.
According to market data from BIT (bit.com), most US-listed cryptocurrency-related stocks turned positive during US trading hours. Circle (CRCL) rose 7.10%, Block (XYZ) gained 3.80%, Strategy (MSTR) rose 3.79%, Coinbase (COIN) gained 3.29%, and BitMine (BMNR) rose 1.71%.
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Nasdaq is currently experiencing network issues, and clients may intermittently encounter data gaps.
Nasdaq stated it is currently experiencing network issues, which may cause intermittent data gaps for its clients. The firm recommends clients use Chicago-based data sources as a backup.
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Jupiter launches YOLO, a high-leverage trading product modeled after PaperTrade, supporting up to 1000x leverage.
Jupiter co-founder SIONG announced in a post that Jupiter Labs has launched an experimental high-leverage trading product called YOLO, which offers leverage ranging from 500x to 1000x. The product adopts the JLP model framework, simulating positions based on real market prices, with actual realized profits and losses—no need to execute corresponding leverage positions in the open market. YOLO’s profits are disbursed from a dedicated fund pool. If the fund pool lacks sufficient liquidity to settle profit positions, payouts may be queued instead of processed instantly. SIONG emphasized that this model differs from traditional perpetual contracts, carrying its own unique risks and limitations. He stated that launching YOLO under Jupiter Labs is to provide a testing ground for such new financial products and trading experiences, without the need to adapt to existing offerings. Currently, YOLO remains in the early stage of development, with room for further improvement. The launch was inspired by PaperTrade, he added.
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Final implementation rules for the GENIUS Act are expected to be released by the end of October.
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The three major U.S. stock indices opened lower but climbed higher, with the S&P 500 index turning positive.
According to market data from BIT (bit.com), the three major U.S. stock indexes opened lower and moved higher: the S&P 500 turned positive, the Nasdaq’s decline narrowed to 0.4%, and the Dow Jones rose nearly 1%. Among component stocks, Micron Technology neared a positive turn after falling more than 6% earlier; Microsoft, Apple, and Google gained 0.5% each, while SanDisk and SpaceX fell 3%.
Starknet, originally developed as a scaling solution for Ethereum, has taken a crucial step toward becoming a fully independent blockchain. StarkWare, the company behind Starknet, asked its community to vote on whether the network should move away from Ethereum and operate as its own autonomous Layer 1 blockchain.
The announcement immediately sparked market activity. In early October, STRK, the platform’s native token, soared 200% before paring gains in line with broader market trends. On the day the official vote was launched, STRK recorded another significant rally, climbing 25% at one stage during the session.
Derivatives trading dominated the action, with daily futures volumes climbing to $894.84 million—almost eight times higher than spot volumes, which reached $116.38 million. This surge coincided with an unlocking of 127 million STRK tokens for early investors, further escalating volatility and overall market participation.
Trading volumes on the STRK futures market soared past $894 million as investor interest surged following the independence vote launch.
Quantum resistance and independence from EthereumEli Ben-Sasson, CEO of StarkWare, has highlighted that the move is motivated by the need for enhanced security against future threats posed by quantum computing. Ben-Sasson believes that rapid advances in artificial intelligence bring the era of quantum machines closer, increasing the risk to existing cryptographic standards.
Starknet’s technical roadmap is aligned with the goal of deploying quantum-resistant features as early as 2027. This stands in contrast to Ethereum’s current timeline, which aims to introduce similar security upgrades closer to the end of 2029. The project’s leadership has argued that becoming independent would enable it to move faster on critical security upgrades.
Mini dictionary: Quantum resistance, cryptographic techniques designed to protect blockchain networks against the potential threats posed by powerful quantum computers that could break existing encryption.
Community support, but security trade-offs remainA poll on the Snapshot platform, which will run until October 22, reflects overwhelming support for independence, with 99.88% voting in favor. Despite this show of support, the current vote is preliminary and non-binding, signaling only that detailed research and further votes lie ahead before any technical transition would begin.
STRK is set to remain the network’s exclusive settlement asset, and existing bridges to Ethereum will continue to function during and after the transition process, ensuring a degree of continuity for users and developers.
However, analysts caution that by leaving Ethereum’s umbrella, Starknet would forfeit the established security provided by Ethereum’s validator network. Currently, transactions on Starknet benefit from the protection of Ethereum’s multi-billion-dollar staked validator base. As an independent blockchain, the network’s security will rely strictly on the capitalization and security model of STRK.
STRK’s market capitalization is currently $580.24 million, significantly lower than Ethereum’s, highlighting the increased challenges facing a newly independent network.
NetworkSecurity ModelMarket CapitalizationTarget for Quantum ResistanceStarknet (potential standalone)STRK token’s market cap and validator set$580.24 million2027EthereumStaked validator networkMuch higher (multi-billion-dollar)2029 (planned upgrade)The preliminary referendum only authorizes continued research and community discussion, meaning any final technical migration from Ethereum will require months of preparation and additional votes.
In brief
Ethereum, XRP, and Solana have all dropped in value on the day, with "outsized drawdowns" compared to Bitcoin.
Experts point to Wednesday's consumer price index coming in at 3.7% and expectations of an October interest rate hike as major macro pressures.
The slide is also a natural hangover from altcoins’ “strength and momentum” over recent months.
Altcoins have taken a hit over the past 24 hours, with major tokens seeing "outsized drawdowns" compared to Bitcoin. Experts say that this has largely been prompted by macro pressures pushing prices down.
With the market cap of all cryptocurrencies dropping by 2.5% to $2.8 trillion, Ethereum dropped by 5.5% to a $289 billion market cap over the past 24 hours, XRP fell by 5.1% to $82.4 billion, and Solana slipped by 3.8% to $60.6 billion. Meanwhile, industry leader Bitcoin has slipped by 3.1% on the day and 2.6% on the week, sitting at a market cap of $1.6 trillion.
It comes after the consumer price index rose 3.7% in the year to September, as Decrypt reported on Wednesday, with Myriad predictors pointing to a 28% chance of an October interest rate hike (Disclaimer: Myriad is a prediction market operated by Decrypt's parent company Dastan).
Nick Forster, founder of options trading exchange Derive.xyz, said in a note shared with Decrypt that this shifted traders into "protection mode" as "hedging activity" on the platform doubled, and whales pulled back on optimistic bets made in spring.
Myriad: What's the Fed's next move? Click to make your prediction."This immediate pull-back from long-term upside bets alongside aggressive short-term hedging shows a dramatic regime shift," he said, "with institutional participants rapidly reassessing their macro risk exposure as the path for interest rates turns murky again."
When markets react like this, Luke Nolan, senior research associate at CoinShares, says that altcoins are impacted the most.
"[It] seems to be high beta assets just got hit harder, similar to in equities as well, where the high flyers have seen outsized drawdowns in recent sessions," Nolan told Decrypt. "Alts are typically more sensitive to financial conditions, and tightening affects the premise of liquidity expanding."
Nolan also highlighted the U.S. dollar hitting a near 18-month high as a downward pressure on the entire crypto market. He said that over a medium-term horizon, crypto tends to have an inverse correlation to the US Dollar Index, or DXY. This is partly due to crypto being priced in dollars, Nolan explained, but also because a rising dollar causes a tightening in liquidity and a fall in risk appetite.
Max Shannon, senior associate at Bitwise Europe, told Decrypt that the slide is also a hangover from altcoins’ “strength and momentum” over recent months.
Since the start of October, futures open interest in altcoins (excluding Ethereum) has fallen by $8 billion, Shannon said. To him, that shows traders have “taken chips off the table,” which is a natural reaction after such a strong run.
That pattern is playing out with Ethereum, he added. ETH outperformed Bitcoin for three consecutive months, the first time it’s managed that since March 2021, and investors have been cashing in since. Ethereum ETFs saw 11 straight trading days of net outflows totalling $782.8 million, he said, before a brief inflow on Tuesday. Money has been heading back out since, per CoinGlass data, with $129.5 million in net outflows.
"This price action is more of a consolidation period for altcoins that have already done well," Shannon told Decrypt. "Altcoins generally tend to exhibit high correlations with BTC in tough times and lower correlations, especially with idiosyncratic catalysts, in better market environments. Hence, for the near term, it is possible that these altcoins trade in lockstep with BTC, albeit more sensitively."
For prices to recover, Nolan says he wants to see expectations of an interest rate hike in October to fall. Right now, he struggles to call a bottom for altcoins as he sees valid arguments for movements in either direction.
"I could see a situation where Bitcoin loses its support and altcoins likely bleed further," Nolan told Decrypt. "The opposite could also be true: this could be just a short-term correction, and we could be back into decent market conditions soon, which if Bitcoin was to push back decently above 80k, I could very well see an outsized up move for altcoins."
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In brief Ethereum, XRP, and Solana have all dropped in value on the day, with "outsized drawdowns" compared to Bitcoin. Experts point to Wednesday's consumer price index coming in at 3.7% and expectations of an October interest rate hike as major macro pressures. The slide is also a natural hangover from altcoins’ “strength and momentum” over recent months. Altcoins have taken a hit over the past 24 hours, with major tokens seeing "outsized drawdowns" compared to Bitcoin. Experts say that this has largely been prompted by macro pressures pushing prices down.
With the market cap of all cryptocurrencies dropping by 2.5% to $2.8 trillion, Ethereum dropped by 5.5% to a $289 billion market cap over the past 24 hours, XRP fell by 5.1% to $82.4 billion, and Solana slipped by 3.8% to $60.6 billion. Meanwhile, industry leader Bitcoin has slipped by 3.1% on the day and 2.6% on the week, sitting at a market cap of $1.6 trillion.
It comes after the consumer price index rose 3.7% in the year to September, as Decrypt reported on Wednesday, with Myriad predictors pointing to a 28% chance of an October interest rate hike (Disclaimer: Myriad is a prediction market operated by Decrypt's parent company Dastan).
Nick Forster, founder of options trading exchange Derive.xyz, said in a note shared with Decrypt that this shifted traders into "protection mode" as "hedging activity" on the platform doubled, and whales pulled back on optimistic bets made in spring.
Myriad: What's the Fed's next move? Click to make your prediction."This immediate pull-back from long-term upside bets alongside aggressive short-term hedging shows a dramatic regime shift," he said, "with institutional participants rapidly reassessing their macro risk exposure as the path for interest rates turns murky again."
When markets react like this, Luke Nolan, senior research associate at CoinShares, says that altcoins are impacted the most.
"[It] seems to be high beta assets just got hit harder, similar to in equities as well, where the high flyers have seen outsized drawdowns in recent sessions," Nolan told Decrypt. "Alts are typically more sensitive to financial conditions, and tightening affects the premise of liquidity expanding."
Nolan also highlighted the U.S. dollar hitting a near 18-month high as a downward pressure on the entire crypto market. He said that over a medium-term horizon, crypto tends to have an inverse correlation to the US Dollar Index, or DXY. This is partly due to crypto being priced in dollars, Nolan explained, but also because a rising dollar causes a tightening in liquidity and a fall in risk appetite.
Max Shannon, senior associate at Bitwise Europe, told Decrypt that the slide is also a hangover from altcoins’ “strength and momentum” over recent months.
Since the start of October, futures open interest in altcoins (excluding Ethereum) has fallen by $8 billion, Shannon said. To him, that shows traders have “taken chips off the table,” which is a natural reaction after such a strong run.
That pattern is playing out with Ethereum, he added. ETH outperformed Bitcoin for three consecutive months, the first time it’s managed that since March 2021, and investors have been cashing in since. Ethereum ETFs saw 11 straight trading days of net outflows totalling $782.8 million, he said, before a brief inflow on Tuesday. Money has been heading back out since, per CoinGlass data, with $129.5 million in net outflows.
"This price action is more of a consolidation period for altcoins that have already done well," Shannon told Decrypt. "Altcoins generally tend to exhibit high correlations with BTC in tough times and lower correlations, especially with idiosyncratic catalysts, in better market environments. Hence, for the near term, it is possible that these altcoins trade in lockstep with BTC, albeit more sensitively."
For prices to recover, Nolan says he wants to see expectations of an interest rate hike in October to fall. Right now, he struggles to call a bottom for altcoins as he sees valid arguments for movements in either direction.
"I could see a situation where Bitcoin loses its support and altcoins likely bleed further," Nolan told Decrypt. "The opposite could also be true: this could be just a short-term correction, and we could be back into decent market conditions soon, which if Bitcoin was to push back decently above 80k, I could very well see an outsized up move for altcoins."
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Join 72,000+ readers
Create an account to save your articles.
Add on Google
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Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) face renewed ETF outflows and macroeconomic uncertainty.
Spot Bitcoin and Ethereum ETFs recorded around $500 million and $600 million in weekly net outflows over the past week, which Charles Schwab equity research director Adam Lynch attributes to tactical institutional trading rather than weakening long-term demand.
Investors are using crypto ETFs to move substantial capital over shorter periods, benefiting from their liquidity and cost efficiency.
Lynch expects crypto ETFs to expand beyond Bitcoin and Ethereum to assets including XRP (CRYPTO: XRP), Solana (CRYPTO: SOL) and Dogecoin (CRYPTO: DOGE).
What Could Trigger the Next Crypto Rally?In a Schwab Network interview, Lynch identified regulatory progress and Ethereum’s upcoming Q4 network upgrade, aimed at improving speed and capacity, as potential catalysts.
Despite the Clarity Act’s setback, the CFTC and SEC are advancing separate crypto regulatory initiatives.
Grayscale research head Zach Pandl expects Bitcoin to withstand further modest rate hikes as demand for scarce assets remains supported by fiscal deficits and currency debasement concerns.
He believes Bitcoin bottomed near $58,000 in June, despite Fed rate hikes, rising bond yields and regulatory uncertainty.
Why Grayscale Favors ETH, SOL and BNB In a Coinage interview on Oct.15, Pandl identified Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL) and BNB Chain (CRYPTO: BNB) as overlooked opportunities with rapidly rising institutional adoption of stablecoins, tokenized deposits and real-world assets.
Investor enthusiasm is accelerating for for privacy-focused cryptocurrencies and revenue-generating protocols.
He expects trillions of dollars in TradFi assets to move on-chain, positioning established smart contract platforms as critical infrastructure.
While privacy technologies and perpetual futures gain traction, Pandl believes investors are underestimating the long-term potential of established blockchain ecosystems.
Image: Shutterstock
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VanEck Digital Assets has asked the U.S. Securities and Exchange Commission to withdraw the registration of its Lido Staked Ethereum ETF, shelving a proposed fund that would have offered investors exposure to Ethereum staking through Lido’s stETH token. The request, submitted in a Form RW filed with the SEC on October 14, 2026, came almost a year after the sponsor first registered the product and confirms the fund never reached effectiveness.
The withdrawal closes a regulatory path that began when VanEck filed for the Lido Staked ETH ETF in October 2025. The sponsor said it “does not intend to proceed with the planned distribution” of the Trust’s shares, adding that no shares had ever been sold.
What the Withdrawal Request States
Under Rule 477 of the Securities Act of 1933, VanEck Digital Assets asked the SEC to consent to withdrawing the Trust’s registration statement, effective October 14, 2026 or the earliest practicable date. The filing covers the Form S-1 initially submitted on October 16, 2025, together with its amendments and exhibits.
The sponsor confirmed the registration statement was never declared effective, that no securities have been or will be issued or sold under it, and that no preliminary prospectus was distributed. The request was signed by Matthew A. Babinsky, vice president of VanEck Digital Assets.
A Fund That Never Reached Effectiveness
The Lido Staked Ethereum ETF was proposed as a vehicle for exposure to Ethereum staking built on Lido’s stETH, a liquid staking token representing staked ETH. Unlike the spot crypto funds VanEck has already brought to market, the staking-linked product never advanced to an effective registration, and the withdrawal removes one of the more closely watched test cases for a staking-enabled exchange-traded product.
What It Means for Staking-Enabled ETFs
VanEck continues to operate spot crypto ETFs, including its Solana ETF, which launched in November 2025 without a staking component. A fund tied to staking rewards remained in registration for nearly a year before the sponsor pulled it.
The filing gives no reason for the withdrawal beyond the sponsor’s decision not to proceed, so it does not by itself establish why the product stalled. Whether other sponsors keep pursuing staking-enabled ETFs is the next signal to watch.
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Entrepreneur and freelance writer based in Nakuru, Kenya. I cover cryptocurrency, the Blockchain technology, and financial topics. It’s my joy to transform the simplest phrases in a way they reach a reader’s heart to help them discover how crypto is disrupting the world as we have known it. I believe in transforming the world, one word at a time.
Nillion has issued a clarification, announcing it will gradually shut down its Nillion L2 over the coming weeks, as the project is now operational on the Ethereum mainnet. Users still holding NIL tokens on the L2 are required to migrate their assets to Ethereum L1 before the shutdown, with a dedicated bridge portal provided. The team stated that the earlier post sparked concerns among some users, prompting this clarification, and emphasized that the adjustment is purely a maintenance operation.
Ahmed Barakat is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.
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US spot XRP ETFs recorded about $740,000 in net inflows even as the coin lost 6% of its price over 24 hours. Bitcoin, Ethereum, Solana, and Hyperliquid funds lost nearly $400 million combined on October 14. The contrast is notable as inflation pressure weighed on crypto prices.
Crypto prices slid after a hotter-than-expected US Consumer Price Index reading on October 14. A higher inflation print can dampen expectations for monetary easing, putting pressure on risk assets; the broad market move helps explain why positive XRP ETF demand did not translate into a same-day price gain.
As for today, XRP ETFs have recorded 13 consecutive weeks of net inflows, with the last losing week ending July 10 at about $7.2 million in outflows. Cumulative net inflows reached a record $1.80 billion, evidence that demand for the funds has persisted through a weak stretch for the underlying token.
The pace has cooled from its late-September peak. The week ending September 25 brought $75.6 million in inflows, followed by $4.7 million and $11.3 million in the next two weeks, respectively.
This gap between flows and fund size is important. XRP ETF net assets fell from $1.77 billion on September 25 to $1.51 billion as the token price declined, despite continued net additions; lower asset values can offset inflows.
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XRP Whale Deposits, Supply Counterweight, and Price Recovery PathXRP price remained about 64% below its all-time high of $3.65, set on July 17, 2025. At the same time, its 30-day XRP whale deposits to Binance reached 1.669 billion XRP, a seven-month high, compared with roughly 1.65 billion XRP in September.
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Higher exchange inflows can increase the amount of XRP available for sale, adding a potential supply overhang while ETF buyers continue accumulating. But deposits are not proof of selling; the transfers may reflect wallet reshuffling or use of other Binance services, and the reported metric alone does not confirm that holders sold their coins.
The setup is therefore a tension, not a confirmed reversal signal. If the market continues to price the inflation data negatively, XRP can remain under pressure despite ETF inflows; if the streak persists and whale deposits do not turn into verified selling, the demand-versus-supply imbalance remains unresolved.
The next test is whether the wider market stabilizes after the October 14 CPI reaction. Until that happens, sustained fund demand has yet to demonstrate that it can outweigh macro-driven selling in the spot market.
Aztec Network wants to be quantum-proof by the end of 2030. The privacy-focused Ethereum Layer 2 laid out that goal in a post-quantum security roadmap published on October 15, 2026.
The plan has two layers. Aztec controls the first one. The second depends on Ethereum itself, which has its own priorities and its own schedule.
What Aztec is actually promising
The first concrete deliverable lands in February 2027. That is when Aztec plans to ship hardened developer libraries alongside improved off-the-shelf contract patterns.
Contracts on the network are written in Noir, Aztec’s programming language, and cover both public and private state.
The main threat these libraries target is known as a harvest-now-decrypt-later attack. An attacker collects encrypted data today, stores it, and waits. Once quantum computers become capable enough, the attacker cracks it open at leisure.
For a privacy network, that risk is pointed. Data posted to a public blockchain does not disappear. If it is encrypted with methods that age badly, today’s confidential transaction becomes tomorrow’s open book.
The milestones between now and 2030
After the February 2027 libraries, Aztec has proposed two further checkpoints for choosing its post-quantum building blocks, known as cryptographic primitives.
In March 2027, the target is selecting post-quantum signatures. In July 2027, the focus shifts to public-key encryption.
Both dates are proposals, not commitments carved in stone.
The end goal, by the close of 2030, is full post-quantum security across applications, protocols and Ethereum’s settlement layer. Aztec says a complete migration will require extensive changes to Ethereum’s data availability mechanisms.
A head start, according to Aztec
Aztec argues its existing infrastructure already includes foundational design choices that resist certain quantum threats, differentiating it from many other systems that rely heavily on elliptic curve cryptography.
Co-founder Zac Williamson pointed to that foresight in the protocol’s original design.
Why this matters beyond Aztec
No immediate market reaction or token-related developments accompanied the announcement.
Developers building private applications on Aztec get a clear date for when stronger tools arrive, making it easier to plan launches and audits around February 2027. Users who rely on Aztec for confidentiality face harvest-now-decrypt-later risk from data created today. Aztec’s roadmap ties its security timeline to changes in base-layer data availability, adding pressure for those changes to stay on Ethereum’s agenda.
The checkpoints to watch are the February 2027 library release and the two primitive decisions in March and July 2027.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Jensen Huang backs CoreWeave: The company’s financial conditions continue to improve and it does not require guarantees from NVIDIA.
Nvidia CEO Jensen Huang said data center operator CoreWeave’s financial health is improving. Nvidia is CoreWeave’s computing equipment supplier. Speaking at an event in Stockholm, Huang stated: “CoreWeave’s strength grows stronger every day.” He believes Nvidia does not need to provide financial guarantees for CoreWeave. “I am optimistic. In fact, their cost of capital is declining.” Earlier, credit market confidence in CoreWeave had deteriorated, with concerns rising over its default risk, and Huang is trying to restore market confidence in the company. CoreWeave is a key case testing the sustainability of business models for emerging AI infrastructure firms. These firms emerged to meet the nearly unlimited growth in AI computing power demand as described by companies like Nvidia. Backed by suppliers including Nvidia, CoreWeave and similar entities have taken on large amounts of debt, sparking market concerns about circular financing generating artificial demand.
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During intraday U.S. stock trading, most crypto-related concept stocks turned positive, with Circle surging over 7%.
According to market data from BIT (bit.com), most US-listed cryptocurrency-related stocks turned positive during US trading hours. Circle (CRCL) rose 7.10%, Block (XYZ) gained 3.80%, Strategy (MSTR) rose 3.79%, Coinbase (COIN) gained 3.29%, and BitMine (BMNR) rose 1.71%.
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Nasdaq is currently experiencing network issues, and clients may intermittently encounter data gaps.
Nasdaq stated it is currently experiencing network issues, which may cause intermittent data gaps for its clients. The firm recommends clients use Chicago-based data sources as a backup.
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Jupiter launches YOLO, a high-leverage trading product modeled after PaperTrade, supporting up to 1000x leverage.
Jupiter co-founder SIONG announced in a post that Jupiter Labs has launched an experimental high-leverage trading product called YOLO, which offers leverage ranging from 500x to 1000x. The product adopts the JLP model framework, simulating positions based on real market prices, with actual realized profits and losses—no need to execute corresponding leverage positions in the open market. YOLO’s profits are disbursed from a dedicated fund pool. If the fund pool lacks sufficient liquidity to settle profit positions, payouts may be queued instead of processed instantly. SIONG emphasized that this model differs from traditional perpetual contracts, carrying its own unique risks and limitations. He stated that launching YOLO under Jupiter Labs is to provide a testing ground for such new financial products and trading experiences, without the need to adapt to existing offerings. Currently, YOLO remains in the early stage of development, with room for further improvement. The launch was inspired by PaperTrade, he added.
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Final implementation rules for the GENIUS Act are expected to be released by the end of October.
Crypto journalist Eleanor Terrett reported that Office of the Comptroller of the Currency (OCC) Director Jonathan Gould said the final rules for the OCC’s implementation of the GENIUS Act are expected to be released soon, by the end of October. Gould made the remarks at the "Building the New Digital Economy" event hosted by the Milken Institute, which was held concurrently with DC FinTech Week.
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The three major U.S. stock indices opened lower but climbed higher, with the S&P 500 index turning positive.
According to market data from BIT (bit.com), the three major U.S. stock indexes opened lower and moved higher: the S&P 500 turned positive, the Nasdaq’s decline narrowed to 0.4%, and the Dow Jones rose nearly 1%. Among component stocks, Micron Technology neared a positive turn after falling more than 6% earlier; Microsoft, Apple, and Google gained 0.5% each, while SanDisk and SpaceX fell 3%.
STRK stakers and delegators have until Oct. 22 to say whether the Ethereum scaling network should research a move to its own chain, though a "Yes" would not approve the switch itself.
Starknet stakers and delegators are voting on whether the network should research becoming its own post-quantum Layer 1
Posted October 15, 2026 at 11:23 am ET.
Anyone staking or delegating STRK can now vote on whether Starknet, StarkWare’s Layer 2 on top of Ethereum, should research breaking away to run as a standalone post-quantum blockchain.
The non-binding Snapshot poll opened at 09:32 UTC on Oct. 15 and closes at the same time on Oct. 22. Voters can pick “Yes, this should be researched,” vote against further research, or choose “Neutral, I need more information.” StarkWare called it the first governance vote on the potential transition.
The ballot is narrow by design. Backing the research “does not constitute approval of a transition to an L1,” the proposal reads, and “any future decision to proceed with a transition would be subject to a dedicated governance process.”
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Security Is the Stated Reason
Henri of the Starknet Foundation laid out the reasoning in a forum post attached to the poll. The components Starknet runs itself can be made quantum-resistant soon, he wrote, while its bridge and its data availability layer move on Ethereum’s schedule. Operating as its own Layer 1 would end that reliance.
The post noted that Starknet already uses hash-based STARK proofs and native account abstraction, and said no timeline for a switch has been set. Two things will not change under any outcome: “STRK is the token, with no new token,” and bridges from Ethereum into Starknet remain open.
A “Yes” result would kick off research that would produce more detailed proposals and further polls. A “No” means post-quantum work continues with Starknet as a Layer 2. A “Neutral” result keeps the forum thread open until the missing answers arrive.
Early Tally
By about 14:40 UTC on Oct. 15, 293 votes had been cast, and 99.9% of roughly 179.8 million in voting power backed “Yes,” according to Snapshot data. The poll has no quorum requirement.
“Becoming an L1 is a big deal. So is post-quantum security. We want to hear what the community thinks,” StarkWare co-founder and CEO Eli Ben-Sasson wrote on X.
How It Got Here
Ben-Sasson first floated the idea on Oct. 8, alongside a talk at Token2049, asking whether an L1 “for post-quantum agility” was a good or bad idea. Starknet’s own account said that day it was considering the move with 2027 as its target for full quantum resistance. Two days later, StarkWare posted that “Starknet becoming an independent L1 is our clearest path forward.”
Results will be visible as soon as voting closes.
Related Listen: Why a Hidden Public Key Still Can’t Protect Your Bitcoin From Quantum Computing
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.
Ethereum, XRP, and Solana recorded sharper declines than Bitcoin over the past day, with analysts attributing the drop to renewed macroeconomic uncertainty and a shift in trader sentiment across the cryptocurrency market.
Altcoins see steeper declinesThe total cryptocurrency market cap fell 2.5% to $2.8 trillion. Ethereum declined 5.5% to a $289 billion market cap, XRP fell 5.1% to $82.4 billion, and Solana dropped 3.8% to $60.6 billion. By comparison, Bitcoin, the world’s largest cryptocurrency, declined 3.1% on the day and 2.6% over the week, lowering its market cap to $1.6 trillion.
Asset1-Day ChangeMarket CapEthereum-5.5%$289 billionXRP-5.1%$82.4 billionSolana-3.8%$60.6 billionBitcoin-3.1%$1.6 trillionMarket observers linked the sell-off to the latest US consumer price index reading of 3.7% and mounting expectations of an interest rate hike in October, both of which intensified macroeconomic pressures on riskier assets like cryptocurrencies.
Hedging and liquidity shiftsNick Forster, founder of options trading exchange Derive.xyz, stated that increased volatility prompted traders to move into “protection mode.” He observed that hedging activity on his platform doubled over the past day, while large investors reduced their exposure to optimistic positions established in the spring.
This immediate pull-back from long-term upside bets alongside aggressive short-term hedging shows a dramatic regime shift, with institutional participants rapidly reassessing their macro risk exposure as the path for interest rates turns murky again.
Luke Nolan, senior research associate at CoinShares, explained that altcoins, which are generally considered high beta assets, are more vulnerable to sudden drops in the broader market. He noted that the US dollar’s move to a near 18-month high contributed to downward pressure, as cryptocurrencies often exhibit an inverse correlation to the US Dollar Index (DXY).
Mini dictionary: US Dollar Index (DXY), a measure that tracks the value of the US dollar relative to a basket of foreign currencies. A rising DXY signals a stronger dollar and can mean reduced risk appetite for alternative assets like cryptocurrencies.
Nolan said that tightening financial conditions reduce liquidity and risk appetite, further pressuring altcoins. He indicated that he would watch for any changes in expectations for interest rate hikes before predicting a rebound in prices.
High beta assets just got hit harder, similar to equities, where high-performing stocks have seen outsized drawdowns in recent sessions. Altcoins are typically more sensitive to financial conditions, and tightening affects the premise of liquidity expanding.
Profit-taking follows altcoin rallyMax Shannon, senior associate at Bitwise Europe, said part of the recent sell-off reflects traders taking profits after a strong multi-month rally in altcoin prices. Futures open interest in altcoins excluding Ethereum has dropped by $8 billion since the start of October, indicating that traders have reduced risk after the latest uptrend.
Shannon noted that Ethereum outperformed Bitcoin for three consecutive months, a streak last seen in March 2021, prompting investors to realize profits. Ethereum ETFs witnessed 11 straight trading days of net outflows totaling $782.8 million, followed by a small inflow on Tuesday, with $129.5 million in new outflows since, based on CoinGlass data.
He described the current market environment as a “consolidation period” for altcoins that had previously rallied strongly. Shannon said that while altcoins tend to move in tandem with Bitcoin during difficult periods, they can diverge, particularly when unique catalysts emerge.
Looking ahead, Nolan said a recovery would likely depend on expectations for US interest rate decisions. He added that uncertainties made predicting a clear short-term direction for altcoins challenging, as a further drop in Bitcoin could deepen losses, but a robust move above $80,000 could swiftly reignite altcoin momentum.
