- Bitcoin & Mining: Bitcoin’s rebound rally is facing resistance, with miners like CleanSpark and Bitdeer expanding into AI services due to post-halving pressures. Mining profitability saw a decline in September. Michael Saylor’s Strategy continues to accumulate BTC, inching towards its 700K goal.
- Ethereum & Layer-2: Joseph Lubin discusses the role of VCs in Ethereum, acknowledging their value extraction but highlighting their importance in bringing global capital. Monad is developing a fast EVM chain promising significant performance improvements. Tom Lee’s Bitmine Immersion significantly increased its ETH holdings.
- Altcoins & DeFi: Dogecoin is poised for a potential jump after Elon Musk’s cryptic tweet. Solana founder is developing a new perpetual DEX called ‘Percolator’. AAVE is recovering strongly amid RWA integration plans. Gemini launched a Solana-themed credit card with auto-staking rewards. Chainlink (LINK) is leading the CoinDesk 20 performance. BNB is climbing amid broader market recovery and potential Fed policy shifts.
- X (Twitter) & Digital Identity: X launched a marketplace for inactive usernames for Premium users, aiming to monetize digital identity.
- Regulation & Institutional Adoption: The US government shutdown is affecting crypto legislation, with a Senate roundtable planned to discuss the stalled market structure bill. A Ripple-linked firm, Evernorth, plans a $1B SPAC to build a large XRP treasury, signaling institutional interest in XRP. Bolivia’s new president aims to use blockchain for government transparency.
- Security & Risks: Centralized exchanges remain a key tool for crypto money laundering. Quantum computing is identified as a major risk to Bitcoin. Blockchain.com has reportedly held talks to go public via a SPAC deal.
Analysis:
- The market shows signs of diversification, with AI playing a significant role in the future of mining business.
- Regulatory uncertainty continues to cast a shadow, while institutional interest is subtly growing.
- Focus on layer-2 solution is still a key for Ethereum to solve performance issue.