Core Insights - DeFiLlama has removed Aster's perpetual futures volume data due to concerns over data integrity after detecting trading volumes closely mirroring those of Binance [1][2][3] Volume Correlation - Aster's trading volumes for pairs like XRP/USDT showed a correlation ratio of approximately 1 with Binance, while competitor Hyperliquid displayed decorrelation [2] - Correlation patterns were even more pronounced for other assets like ETH, indicating similar trends across all trading pairs [3] Community Reactions - The delisting has caused a split in the crypto community, with critics questioning DeFiLlama's centralization and defenders attributing the correlation to legitimate liquidity migration from Binance [4] - Blockchain investigator ZachXBT criticized Anndy Lian for normalizing wash trading, while Lian defended the practice as common in the industry [5] Trading Volume Data - Aster's total trading volume has exceeded $2.2 trillion, with a total value locked of $1.52 billion, 3.18 million total users, and $328.28 million in all-time income [7]

Core Insights - Abracadabra, a DeFi project, experienced a security breach resulting in a loss of approximately $1.7 million [1] - The exploit involved manipulation of smart contract variables to bypass solvency checks, leading to excessive borrowing [2] - This incident marks the third exploit against Abracadabra in less than two years [6] Incident Details - The breach was flagged by Go Security on October 4, with attackers laundering about 51 ETH through Tornado Cash [1] - The attacker’s wallet still held around 344 ETH, valued at approximately $1.55 million at the time of reporting [1] - The exploit was verified by security researcher Weilin Li, who detailed the manipulation of smart contract variables [2] Technical Analysis - Phalcon, another blockchain audit firm, identified a faulty logic sequence in the platform's cook function as the root cause [3] - The attacker executed two operations: one that initiated borrowing while bypassing solvency checks, and another that rewrote the check flag to skip validation [4] Financial Impact - The attacker drained over 1.79 million MIM tokens by repeating the exploit across six different addresses [5] - Abracadabra's team confirmed on Discord that they would utilize DAO reserve funds to repurchase the affected MIM supply [5]

Market Position - Jupiter 已在 Solana 链上超越所有其他 DEX 聚合器，占据首位 [1] - 1inch 需要在 9 条链上运营才能与 Jupiter 在单链上的交易量竞争 [1] Launchpad & Revenue - DTF 平台进入价值 1.4 亿美元的季度 Launchpad 市场 [1] - 80% 的收入分配给持有者，市盈率为 4 倍，而传统金融为增长支付 20 倍市盈率 [1] Investment Perspective - 精明的投资者正在积累 Jupiter 的代币 [1]

Stani Kulechov calls embedded DeFi a trillion-dollar fintech opportunity, with Aave eyeing $100B deposits as low rates fuel DeFi growth. | Credit: Pexels. Key Takeaways Stani Kulechov believes fintechs can unlock a trillion-dollar opportunity by integrating decentralized finance directly into their platforms. At TOKEN2049, Kulechov argued that lower central bank rates create more arbitrage opportunities for DeFi yields. Kulechov projects Aave could reach $100 billion in deposits by year’s end, placin ...

Core Insights - Crypto.com is launching a feature allowing customers to borrow against their crypto deposits, inspired by a similar offering from Coinbase [1][2] - The partnership with Morpho, a leading decentralized finance lending protocol, will enable Crypto.com to provide DeFi-backed loans on its Cronos blockchain [1][3] Company Developments - Crypto.com is the sixth-largest crypto exchange globally, processing $86 billion in trades last month [3] - The integration with Morpho is expected to go live before the end of the year, making Crypto.com the second exchange to offer such loans [3] - Morpho's previous partnership with Coinbase has been successful, with total loans surpassing $1 billion [4] Industry Trends - Crypto lending is becoming the dominant use case in decentralized finance (DeFi), with deposits to DeFi lending protocols reaching an all-time high of $138 billion in September [5] - Morpho has increased its deposits by 121% this year, totaling $11.5 billion, capitalizing on the growing demand for DeFi lending [5] - The "DeFi mullet" strategy is being adopted by many protocols, simplifying user interaction with DeFi while hiding the complexities behind centralized exchanges [7]

Core Insights - SUI Group Holdings Limited has launched suiUSDe, a Sui-native synthetic dollar token, in partnership with Ethena and the Sui Foundation [1] - The company also introduced USDi, a stablecoin backed by the BlackRock USD Institutional Digital Liquidity Fund [1] - Ethena is the protocol behind USDe, which is noted as the third-largest and fastest-growing USD-denominated digital asset [1]

Core Insights - Cardano is preparing to integrate Bitcoin functionality, which could attract billions in liquidity to its network [1][9] - A dedicated team is working on "Bitcoin DeFi," allowing users to transact, pay fees, and earn yield in Bitcoin using Cardano's infrastructure [2][9] - Cardano's extended UTXO framework positions it as a scalable alternative to Ethereum and Solana, potentially capturing part of the $4 trillion Bitcoin market [3][4] Market Position - The integration of Bitcoin into Cardano's ecosystem could unlock significant capital from the largely untapped Bitcoin market, enhancing its DeFi capabilities [8][9] - If successful, this initiative could shift the dynamics of DeFi, elevating its growth potential beyond that of Ethereum alone [9][10] Technical Analysis - Cardano's ADA token is currently trading around $0.79, with key support at $0.76 and resistance at $0.82 [1][6] - The token's price is consolidating after a drop from the $0.90 region, with potential breakout levels at $0.83, $0.86, and $0.93 [6][7] - The RSI near 46 indicates neutral momentum, suggesting a range-bound price action until a breakout occurs [7]

Core Insights - The SEC's recent no-action decision for the decentralized crypto project DoubleZero indicates a shift towards more engagement with digital asset projects, providing a positive signal for the industry [1][3] - This decision sets a precedent that certain tokens can operate outside of securities law, encouraging growth and integration of digital assets into mainstream finance [2][3] - The SEC's new approach is seen as a break from previous regulatory practices that were characterized by delays and enforcement actions [3] Regulatory Perspective - Commissioner Hester Peirce stated that tokens used for rewarding participants providing services like storage or bandwidth do not meet the definition of securities [4] - The SEC's focus on DePIN projects highlights that tokens distributed as compensation for real-world services are not considered investment contracts [4][5] - Peirce emphasized that these tokens are functional incentives aimed at encouraging infrastructure development rather than traditional securities [5] Market Impact - The clarity provided by the SEC is expected to accelerate growth in the DePIN sector, which could expand from $30-50 billion today to $3.5 trillion by 2028 [6]

Solana Ecosystem Overview - Apps on Solana host approximately $389 亿 (billion) in user assets [1] - SOL trades at a ~3.34x multiple on its ecosystem TVL (Total Value Locked) [1] Top Categories by TVL - The top 5 categories by TVL are stablecoins, liquid staking, lending, DEXs (Decentralized Exchanges), and RWAs (Real World Assets) [1] Top Apps by TVL - The top 5 apps by TVL are Circle, Jupiter, Kamino, Jito, and Sanctum [1]

Core Insights - The decentralized finance (DeFi) protocol Build on Bitcoin (BOB) has launched a system allowing Bitcoin holders to transfer assets into decentralized trading applications with a single click [1] - The "BOB Gateway" connects native Bitcoin to LayerZero's "omnichain fungible token" (OFT) version of wrapped Bitcoin (wBTC), facilitating access to nearly 15,000 decentralized applications across 11 blockchains [2][6] Group 1 - The BOB Gateway simplifies the process of connecting Bitcoin to various blockchains, eliminating complex bridging processes that previously posed technical and security challenges [3] - This integration enables easier participation in yield farming and looping trades, making these strategies more accessible to both retail and institutional investors [3][4] - The potential influx of capital from native Bitcoin could enhance DeFi's liquidity, security, and overall market maturity [4] Group 2 - Over $2.3 billion worth of wBTC.OFT has been bridged through LayerZero, indicating significant activity and demand for wrapped Bitcoin [5] - The BOB Gateway is expected to bring fresh liquidity into DeFi markets that utilize wrapped Bitcoin as collateral or trading pairs [5] - The rollout of the BOB Gateway includes major blockchains such as Ethereum, Avalanche, and Base, covering a substantial portion of the current DeFi landscape [6]