Solana price tumbled to $182 on Oct. 30, recording an intraday decline of nearly 6% as its market capitalization slipped to $100.1 billion. This marks Solana’s sharpest one-day drop since the Oct. 10 market crash, when Trump’s deferred tariff announcement on China triggered nearly $19.4 billion in global crypto liquidations. The latest selloff coincides with a significant move by institutional trading firm Jump Crypto, which offloaded 1.1 million SOL for $205 million before acquiring 2,455 BTC for $265 mil ...

Core Insights - Perpetual futures are currently the most popular trading strategy in the crypto market, attracting a significant number of traders due to their high-risk, high-reward nature [1] - The accessibility of perpetual futures has increased, allowing anyone with a crypto wallet or Telegram account to participate, which presents both opportunities and risks for the crypto market [1] Group 1: Trading Dynamics - Perpetual futures are derivative contracts with no expiration date, enabling users to leverage their positions on assets like Bitcoin, with potential leverage ranging from 10 to 1,001 times [2] - The recent surge in popularity is attributed to a more relaxed regulatory environment and the emergence of decentralized trading platforms like Hyperliquid, which democratize access to these trading products [2][3] Group 2: Market Impact - Major crypto wallets such as MetaMask and Phantom have integrated perpetual futures trading into their platforms, significantly broadening access to these products for millions of users [3] - Perpetual futures trading has already contributed to 16% of Phantom's annualized revenue of $195 million and 6% of MetaMask's $81 million, despite their recent rollout [4] Group 3: Future Projections - Telegram's mini-app Blum is also entering the perpetual futures market, predicting that these trades will account for 80% of its total volume by early 2026 [4] - The trading volume for perpetual futures has reached over $1.27 trillion in the past 30 days, indicating a robust market presence and growth potential for decentralized exchanges specializing in these products [5]

Core Insights - There is a renewed interest in Ethereum (ETH), driven by strong net inflows into US Spot ETH exchange-traded funds (ETFs) and institutional buying pressure, leading to a 66.6% rise in ETH price, reaching nearly $5,000 [1][5] - Altcoins significantly outperformed Bitcoin (BTC) in Q3, with ETH's market share increasing to 12.5% [2][4] - Bitcoin dominance decreased to 56.9%, indicating a shift towards ETH and other large-cap altcoins [3] Market Performance - The total cryptocurrency market capitalization rose by 16.4% to $563.6 billion, marking the highest level since late 2021 [4] - The average daily trading volume increased by nearly 44% from Q2 to $155 billion, reflecting higher market participation [3] - The DeFi sector's Total Value Locked (TVL) surged by 40.2% from $115 billion to $161 billion, driven by ETH's appreciation [12][13] Institutional Activity - US Spot ETH ETFs recorded $9.6 billion in net inflows, surpassing BTC ETFs for the first time, with total assets under management (AUM) reaching $28.6 billion, a 177.4% increase quarter-on-quarter [9] - Crypto digital asset treasury companies (DATCos) spent at least $22.6 billion on new crypto acquisitions in Q3, the largest quarterly amount to date [9][10] Altcoin Performance - Major altcoins like BNB, SOL, and XRP also saw significant gains, with BNB increasing by 53.6%, SOL by 34.7%, and XRP by 27% [5] - The DeFi sector's market cap reached a peak of $181 billion in late September, following a price jump of newly launched tokens [12] Exchange Activity - Top centralized exchanges (CEXes) recorded a spot trading volume of $5.1 trillion in Q3, a nearly 32% increase from Q2 [16] - The trading volume of the top 10 perpetual decentralized exchanges (DEXes) grew by 87% from $964.5 billion in Q2 to $1.81 trillion in Q3 [17]

Core Insights - The acquisition of UK-based ETF provider 21Shares by crypto trading platform FalconX signifies a shift in the relationship between crypto platforms and ETF providers, indicating a trend towards consolidation in both industries [2][3] - This deal is viewed as a significant early example of consolidation in the crypto and asset management sectors, with implications for corporate America beyond just the crypto conversation [2][3] Industry Trends - The consolidation in the crypto space is notable due to the sector's relative novelty and the increasing interest from major industry players and regulators [3] - The regulatory landscape, particularly the SEC's commitment to expedite crypto ETF launches, is driving interest and could lead to more mergers and acquisitions in the future [4] Market Dynamics - There are numerous ETF providers struggling to capture significant market share despite having quality products, making consolidation a likely outcome [3] - The recent volatility in cryptocurrencies like Ethereum and Bitcoin, combined with emerging regulatory frameworks such as the GENIUS Act, is facilitating a more favorable environment for crypto-related financial products [4]

Core Insights - Crypto traders are known for making strategic moves ahead of macroeconomic announcements, with recent activity showing a bullish trader taking a long position before the September CPI data release [1][2] - The CPI is a key inflation indicator that influences both traditional and crypto markets, with rising CPI leading traders to favor assets like Bitcoin as a hedge against inflation [2][3] Group 1: Market Reactions - A bullish crypto trader took a long position on Ethereum and Bitcoin ahead of the CPI data release scheduled for October 24 [2] - The CPI rose by 0.3% in September and 3% year-over-year, indicating inflationary pressures [3] - Excluding food and energy, the CPI increased by 0.2% in the last month, maintaining a 3% year-over-year increase [3] Group 2: Trader Activity - An on-chain analytics platform reported that a crypto whale with a 100% win rate has significantly increased long positions, holding 33,270 ETH valued at $132 million and a leveraged long position on 680 BTC worth $75.8 million [5]

Retail traders, especially those in South Korea, have increasingly shifted from altcoins to crypto-related equities, leaving a massive funding gap in the altcoin market, according to new data from 10x Research. Key Takeaways: Retail investors, particularly in South Korea, have shifted from altcoins to crypto-related stocks, creating an $800 billion gap in altcoin market value. Institutional demand for Bitcoin and the rise of listed crypto firms have widened the divide between Bitcoin and other digital ...

Core Insights - Revolut has obtained a Markets in Crypto-Assets (MiCA) licence from the Cyprus Securities and Exchange Commission (CySEC), enabling it to provide crypto-asset services across the European Economic Area (EEA) [1] - The company plans to launch a "1:1 conversion between stablecoins and USD" without spreads, indicating a significant expansion in its crypto offerings [2] - There are ongoing speculations about Revolut launching its own stablecoin, with a plausible timeline suggested for 2026 following the MiCA approval [4] Group 1: Regulatory Developments - The MiCA licence allows Revolut to market crypto services in all 30 EEA markets, although further scrutiny from individual EU states may be required [1] - The CEO of Revolut Digital Assets Europe emphasized that the licence reflects CySEC's confidence in the company's regulatory compliance in the crypto sector [2] - Other companies, like Coinbase, are also utilizing Cyprus for MiCA approval, indicating a trend among digital banks [3] Group 2: Product Expansion - Revolut has been providing crypto trading since 2017 and has steadily expanded its services, including the launch of Revolut X, a standalone crypto exchange for trading 200 cryptocurrencies [2] - The introduction of a stablecoin by Revolut is seen as a potential development, especially with the MiCA framework now in place [4] - Legal experts suggest that Revolut is positioned to issue its own stablecoin under the EU framework, contingent on compliance with regulatory requirements [4]

Core Insights - FalconX is in talks to acquire 21Shares, a major player in the digital asset ETP market, with the deal to be financed through cash and equity [1] - The merger aims to leverage FalconX's trading infrastructure and 21Shares' ETF expertise to launch new crypto funds focused on derivatives and structured products [1][4] Company Overview - FalconX, founded in 2018, has processed over $2 trillion in trades and serves more than 2,000 clients globally, specializing in institutional trading, staking, and credit services, with an $8 billion valuation in 2022 [2] - 21Shares, also established in 2018, manages over $11 billion in assets across 55 listed ETPs and co-launched the first US spot Bitcoin ETF in partnership with ARK Investment [3] Market Context - The merger represents a significant consolidation in the crypto space, coinciding with a potential new "ETF season" as institutional interest in crypto investment vehicles surges [5] - There are currently 155 crypto ETP filings across 35 cryptocurrencies, with predictions that this number could exceed 200 within the next year [6]

Acquisition - FalconX, a crypto trading firm, is acquiring 21Shares, a major crypto ETF manager [1]

According to The Wall Street Journal, crypto trading firm FalconX has agreed to acquire 21Shares. Executives from both companies said the merged entity will focus on developing crypto funds based on derivatives and structured products. Deal terms were not disclosed, but the acquisition was financed through a mix of cash and equity.https://t.co/ntJChxbDED ...