Suehyeon Lee

According to Token Mindshare, an AI-based Web3 search platform Kaito's indicator that quantifies a specific token's influence in the virtual asset (cryptocurrency) market, as of the 7th the top 5 crypto-related keywords people are most interested in are Solana (SOL), Binance Coin (BNB), Ethereum (ETH), Monad (MONAD), and USDC. Solana made headlines after Grayscale announced it had begun supporting staking for its Solana trust product 'GSOL'. Grayscale explained, "If GSOL receives regulatory approval and is approved for listing, it would become the first Solana spot exchange-traded product (ETP) to support staking." Currently, Solana is trading on CoinMarketCap at $233.43, up 0.58% from the previous day. Binance Coin attracted attention yesterday as it surpassed $1200 to reach a record high. Currently, Binance Coin is trading on CoinMarketCap at $1225.91, up 3.77% from the previous day. Ethereum drew interest as Grayscale began supporting staking for its spot Ethereum ETFs. Grayscale has started supporting staking for its spot Ethereum ETFs 'Grayscale Ethereum Mini Trust ETF' (ticker: ETH) and 'Grayscale Ethereum Trust ETF' (ticker: ETHE). Currently, Ethereum is trading on CoinMarketCap at $4694.78, up 3.38% from the previous day. Monad appears to have increased online mentions due to an ongoing airdrop claim. The claim is currently understood to be 80% complete. Finally, USDC is presumed to have drawn investor attention after 250,000,000 USDC were newly issued from a USDC treasury address. Additionally, investors appear interested in Polymarket, Starknet (STRK), Avalanche (AVAX), Plume (PLUME), Mantle (MNT), and others.

Cynthia Lummis, a U.S. senator known for her pro-crypto stance, said that funding to establish the U.S. 'Strategic Bitcoin Reserve (SBR)' could begin at any time. According to Cointelegraph on the 7th (local time), Lummis said on her X, "The legislative process has been somewhat delayed, but thanks to President Trump, SBR funding can now begin at any time." Lummis' remark was a reply to a video in which Jeff Park, Procap BTC Chief Investment Officer (CIO), discussed SBR's potential with Anthony Pompliano.

Matrixport recently carried out a large-scale Ethereum (ETH) withdrawal. On the 7th (local time), according to OnChain Lens, Matrixport withdrew a total of 14,586 ETH (approximately $68.2 million) from Binance over the past 12 hours. The market is paying attention to the possibility that this movement is related to institutional asset reallocation or a move to self-custody.

As the price of gold approaches $4000 per ounce and an all-time high, many analysts have predicted that Bitcoin (BTC) will also continue a positive trend. On the 7th (local time), according to TradingView data cited by Cointelegraph, gold futures touched $4000 per ounce for the first time in the early hours, and the spot price recorded an all-time high of $3976. Gold prices have risen more than 50% so far this year, which is analyzed to be influenced by heightened geopolitical tensions, concerns over trade tariffs, dollar weakness, and the spread of global inflation. Over the same period, Bitcoin rose by only about 33.5%, but recent price movements have been following gold, increasing expectations for a year-end rally. Henrik Anderson, Chief Investment Officer (CIO) of Apollo Capital, told Cointelegraph, "Gold reaching an all-time high is a signal that investors are strengthening demand for scarce assets," adding, "From now on Bitcoin will deliver the larger performance between the two assets." Justin Danesan, head of Arctic Digital Partnership, offered a similar analysis. He said, "Gold and Bitcoin are responding to the same factors such as the U.S. fiscal deficit, weakening confidence in the dollar, and geopolitical risk aversion. Gold is rooted in traditional finance, but Bitcoin is scarcer, trades 24 hours, and is more forward-looking, so it will be more volatile." David Marcus, former PayPal executive and CEO of Lightspark, predicted, "If Bitcoin is valued like gold, it would be around $1.3 million per coin," and added, "Bitcoin is already a better store of value, and if payment utility is also factored in, a seven-figure price (in the million-dollar range) is a matter of time."

Nasdaq-listed SharpLink Gaming has recorded unrealized gains exceeding 1 trillion won following its Ethereum (ETH) financial strategy. On the 7th (local time), SharpLink said on X, "Since the Ethereum (ETH) financial strategy introduced on June 2 this year, unrealized gains have exceeded approximately $900 million (about 1.27 trillion won)." The company added, "As Ethereum concentration more than doubled, value per share increased," and "the company currently has no debt and holds 839,000 ETH. Through this, it has secured a strong financial position that can continue to create shareholder value." SharpLink emphasized, "Ethereum is a productive, revenue-generating asset. These results are a case proving Ethereum's asset efficiency."

US Ethereum (ETH) spot exchange-traded funds (ETF) recorded net inflows of more than $100 million the previous day. On the 7th (local time), according to TraderT, US Ethereum spot ETFs had total net inflows of $176,140,000 (about 248.6 billion won) the previous day. This is the sixth consecutive trading day of net inflows. On the day, BlackRock ETHA attracted the most funds with $92,170,000, while Fidelity FETH had $23,520,000 and Bitwise ETHW had $26,990,000 in net inflows. Grayscale ETHE received $14,770,000, and Grayscale Mini ETH received $18,690,000. The remaining products had no net inflows or outflows.

U.S. Bitcoin (BTC) spot exchange-traded funds (ETFs) recorded net inflows of more than $1.1 billion the previous day, showing the second-largest inflow since their launch. On the 7th (local time), according to TraderT, U.S. Bitcoin spot ETFs saw total net inflows of $1,186,950,000 (approximately ₩1,675,200,000,000) the previous day. This is the second-largest inflow on record and marks six consecutive trading days of net inflows. On that day, BlackRock's IBIT led inflows with $966,820,000, while Fidelity's FBTC recorded $112,320,000, and Bitwise's BITB recorded $60,120,000. In addition, Invesco's BTCO had net inflows of $7,510,000, Franklin's EZBC had $3,640,000, WisdomTree's BTCW had $5,990,000, and Grayscale Mini BTC had $30,550,000 in net inflows. The remaining products had no net inflows or outflows.

Matthew Sigel, head of digital asset research at VanEck, forecast that Bitcoin (BTC)'s market capitalization will reach half of gold's level after the next halving. On the 7th (local time), Sigel said on X, "The value of Bitcoin is growing by replacing gold's role as a store of value (store of value), not for industrial demand or jewelry use," and added, "After the next halving, Bitcoin will reach half of gold's value." He went on to say, "In particular, young consumers in emerging markets are increasingly preferring Bitcoin over gold as a means of preserving assets. Based on the peak price of gold, after the next halving Bitcoin would rise to about $644,000."

Grayscale's Ethereum (ETH) spot exchange-traded fund (ETF) has added support for staking, and this is being cited as one of the main factors behind Ethereum's price rebound. On the 7th (local time), Amber CN analyzed via X that "Ethereum staking is now possible in the Grayscale Ethereum spot ETF, which is one of the reasons Ethereum rebounded from 3,800 dollars to 4,700 dollars." According to Amber CN, the two Ethereum spot ETFs (ETHE, Mini ETH) managed by Grayscale staked a total of 32,000 ETH over the past 9 hours. Earlier, about 20 days ago, Grayscale had distributed transfers of 3,200 ETH per wallet address, which at the time was interpreted by the market as a move preparing for staking. After Grayscale officially announced support for staking functionality, that volume is understood to have been actually converted into staking. Meanwhile, according to CoinMarketCap, Ethereum is currently trading at 4674.71 dollars, up 3.23% from the previous day.

XRP (XRP) has been analyzed to have entered a major technical resistance zone. On the 7th (local time), crypto asset (cryptocurrency) analyst Ali Martinez said via X, "XRP is facing significant resistance at the $3.15 level," adding, "if it breaks through this zone, XRP could rise to $3.6." Meanwhile, XRP is currently trading at $2.99 on CoinMarketCap, up 0.99% from the previous day.

BlackRock's Bitcoin (BTC) spot exchange-traded fund (ETF) 'IBIT' appears to be on the verge of surpassing assets under management (AUM) of $100 billion. On the 7th (local time), Eric Balchunas, a Bloomberg analyst, said on X, "IBIT is currently only $2 billion short of $100 billion, and it is showing the highest profitability among all of BlackRock's ETFs." He added, "Among all ETFs, the product that reached $100 billion the fastest was 'VOO', which took 2011 days," and "IBIT approached that record in just 435 days. It's overwhelming in terms of speed," he assessed.

Stablecoin issuer Tether (USDT) plans to present a new list of board candidates and a governance improvement plan for Italian football club Juventus, in which it holds a stake. According to Reuters on the 7th (local time), Tether is expected to propose its recommended slate of directors and a governance restructuring plan ahead of the Juventus shareholders' meeting scheduled for November 7. It also plans to contribute an additional approximately $129 million (about 177 billion won) to participate in the club's capital increase. Earlier, Tether first invested in Juventus in February, and in April increased its stake to 10.7%. Paolo Ardoino, Tether's chief executive officer (CEO), said at the time, "an expression of confidence in innovation and long-term cooperation."

Bitcoin (BTC), buoyed by the October bullish trend known as 'Uptober', hit an all-time high, and forecasts suggest it could rise as high as 138,000 dollars. On the 7th (local time), CoinDesk reported that Bitcoin climbed as high as 126,223 dollars during U.S. trading, setting a new record. It briefly broke through 125,000 dollars the previous day and underwent a correction, but rebounded within a day to continue a strong upward trend. Jean-David Pekigno, Deribit Chief Operating Officer (CCO), explained, "Bitcoin's rise is the result of macroeconomic tailwinds," adding, "A U.S. government shutdown is encouraging a preference for physical assets like gold and Bitcoin, and ETF inflows along with a reduction in exchange spot supply are reinforcing the upward cycle." He forecasted, "There is also room for further technical upside. The short-term target is 128,000–130,000 dollars, and if the bullishness continues it could rise to as much as 138,000 dollars." However, he added, "Since it has entered an overbought zone, a short-term correction to the 118,000–120,000 dollar range is also possible."

Grayscale launched the first U.S. spot exchange-traded fund (ETF) for Ethereum (ETH) that supports staking. On the 6th (local time), Grayscale said on X that its 'Grayscale Ethereum Mini Trust ETF (ticker: ETH)' and 'Grayscale Ethereum Trust ETF (ticker: ETHE)' are the first Ethereum spot exchange-traded products (ETPs) to support staking. The Grayscale Solana Trust (GSOL) also introduced staking, and if it is later upgraded and listed as an ETP, it is expected to become one of the first spot Solana (SOL) products to offer staking. Meanwhile, Rex-Osprey introduced staking to its ETFs earlier this year, but that was a limited investment structure based on the Investment Company Act of 1940. By contrast, Grayscale's spot Ethereum ETF is regarded as the first U.S. digital asset (cryptocurrency) spot ETF to provide staking under the Securities Act of 1933. The launch came after the U.S. Securities and Exchange Commission (SEC) last month approved general listing standards for crypto spot ETFs and earlier this year clarified guidance that staking is not a violation of securities law.

According to Token Mindshare, the token metric of AI-based Web3 search platform Kaito (Token Mindshare, a metric that quantifies the influence of specific tokens within the virtual asset (cryptocurrency) market) top gainer, as of the 6th the top five virtual asset-related keywords people are most interested in are Bitcoin (BTC), Aster (ASTER), Zcash (ZEC), Kaito (KAITO), and Litecoin (LTC). Bitcoin drew attention after surpassing the $125,000 level the previous day, setting a new all-time high. It is currently trading on CoinMarketCap at 123,738.73 dollars, down 0.39% from the previous day. Aster drew attention today as DeFiLlama deleted Aster's perpetual futures volume metric (perpetual volume). Regarding this action, DeFiLlama founder 0xngmi said on X, "Recently Aster's futures volume showed movements almost identical to Binance's volume," and "Aster does not provide underlying data such as order origin or trade execution details, so it is impossible to verify whether wash trading occurred. We will delete Aster's volume metric until verification." Currently, Aster is trading on CoinMarketCap at 1.83 dollars, down 8.23% from the previous day. Zcash recently made headlines after Grayscale opened the Zcash Trust to qualified investors. Zcash is currently trading on CoinMarketCap at 157.81 dollars, down 2.11% from the previous day. Kaito is believed to have seen an increase in online mentions after co-founder Yu Hu revealed Kaito's future plans and vision at the recent Token2049 conference in Singapore. Kaito is currently trading on CoinMarketCap at 1.45 dollars, up 3.62% from the previous day. Litecoin recently attracted attention when it was reported that RexShares and Osprey filed an application with the U.S. Securities and Exchange Commission (SEC) for a Litecoin spot exchange-traded fund (ETF). The product is reported to be under the '1940 securities law,' and it is not reported to be an application under the new general listing standard. Meanwhile, Litecoin is currently trading on CoinMarketCap at 120.12 dollars, down 1.11% from the previous day. In addition, investors appear to be interested in Dune, Base Protocol (Base), Partcoin (FARTCOIN), ZeroGravity (0G), Billions (Billions), and others.

As fiscal instability in major countries around the world grows, investors are flocking to 'store-of-value assets' such as Bitcoin (BTC), gold, and silver instead of fiat currencies. On the 6th (local time), Bloomberg reported, "In Japan, Sanae Takaichi, a lawmaker inclined toward fiscal easing, has emerged as a leading candidate for the next prime minister, and the yen's value plunged. The U.S. dollar has been about 30% weaker versus Bitcoin so far this year, and Europe is also seeing euro weakness due to political instability in France." It added, "Against this backdrop, there is an accumulated debt burden across the U.S., Japan, and Europe. Accordingly, gold and silver have risen to record highs and near-record levels respectively, and Bitcoin traded near record highs over the weekend." Chris Weston, head of research at Pepperstone Group, told Bloomberg, "Political uncertainty in the U.S., Japan, and Europe is making gold and Bitcoin defensive assets against 'currency value decline (debasement),'" adding, "This is a time when the upward trend is driving sentiment, and the market feels like it has to hop on."

U.S. Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs) recorded large weekly net inflows last week, continuing a positive trend. On the 6th (local time), Ublockchain, citing SosoValue Data, said that last week (Sept. 29–Oct. 3) Bitcoin spot ETFs saw total net inflows of $3.24 billion (approximately KRW 4.5765 trillion), marking the second-largest weekly inflow in history. During the same period, Ethereum spot ETFs also had net inflows of $1.3 billion (approximately KRW 1.8362 trillion), and all nine ETFs showed net inflows.

1,800 Ethereum (ETH) that had been held for four years were recently moved to the Kraken exchange. On the 6th (local time), Onchain Lens reported that wallet addresses '0xeA4' and '0x3Ec' deposited 1000 ETH (about $4.54 million) and 800 ETH (about $3.60 million) into Kraken, respectively. The holding period of the two wallets is about four years, and they are estimated to have realized gains of about $10.4 million and $1.04 million, respectively. The two wallets currently still hold a total of 1828 ETH (about $8.28 million).

Bitcoin has been analyzed to have shifted to an upward trend after a third-quarter correction on on-chain data. On the 6th (local time), CryptoQuant author Arab Chain said, "The long-term holders' NUPL (Net Unrealized Profit/Loss) indicator for Bitcoin (BTC) recorded 0.0728, entering approximately a 7.3% unrealized profit zone. This is a rebound from the negative area at the end of September and suggests that Bitcoin's price has returned to an upward trend after the third-quarter correction." He added, "The current Realized Price is approximately $114,582, and the spot price is $123,577, so the market price is about $9,000 above the realized price. This indicates the market has entered a stable upward phase. If the market price remains above the realized price, the medium-term uptrend will continue. In particular, if the long-term holders' NUPL surpasses 0.10, it would confirm entry into a structural expansion phase, and if trading continues above $120,000, institutional buying pressure is likely to noticeably strengthen."