Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Ethereum’s value is not captured by transaction fees alone, argues Blockworks analyst Jake Koch-Gallup in response to claims that the network is losing its liquidity moat. He says ETH also benefits from monetary premium as a reserve and collateral asset, while Ethereum’s layer-2 growth can strengthen its ecosystem even when activity takes place beyond the mainnet. Ethereum still accounts for about 65% of DeFi total value locked, 45% of on-chain real-world asset value and 51% of stablecoin supply. Koch-Gallup notes that ETH is held by institutions through spot ETFs and treasury companies, and that 36% of its supply is staked. He also cites Ethereum’s developer base, network history and role in major tokenised funds as long-term strengths. The argument is not without risks: Ethereum’s share of stablecoins and real-world assets has declined, and its current fee revenue may not fully justify its valuation. The article’s broader point is that market share and monetary premium could matter alongside near-term revenue. It also reports that Plasma’s stablecoin supply has nearly doubled since July to $1.41bn, though it remains below its $5.2bn launch peak.

Robinhood Chain, an Ethereum layer-2 network, has seen transactions fall by more than 40% as memecoin trading cools. Daily fees dropped 97% from an early-September peak of about $8 million to roughly $230,000 by September 16. Daily transactions fell from 13.1 million to 8.9 million over the same period, while the seven-day average declined about 6%. Weekly memecoin volume on Pons was down 37%. Despite the slowdown, decentralized exchange volume remained at or above $1 billion per day in mid-September, and total value locked held near $1 billion. The figures point to waning speculative activity, but relatively stable liquidity and user retention on Robinhood Chain.

The US government transferred about 17,700 BTC to Coinbase Prime this week, including 12,267 BTC linked to the Bitfinex hack. K33 Research says most of the movement likely reflects custody arrangements: the US Marshals Service has used Coinbase Prime as a custodian since 2024, and Bitfinex-related funds remain subject to a claims process. Around 1,200 BTC tied to FTX and HashFlare could be more likely to be sold. The transfers do not, by themselves, confirm a large government sale or an immediate BTC supply shock. Separately, FinCEN withdrew proposals that would have imposed reporting and record-keeping requirements on crypto mixers and transactions involving self-hosted wallets. Robinhood also added $25 million in BTC to its balance sheet as it expands its crypto business. OpenAI’s new mathematical findings renewed concern about AI and cryptocurrency security, but researchers have not shown that the work weakens the elliptic-curve cryptography used by Bitcoin and Ethereum. The BTC transfer is the main near-term trading watchpoint; the security debate remains a longer-term issue without evidence of an immediate threat.

Robinhood Chain activity weakened in the week from 2 to 8 October. Average daily transactions fell 42% from mid-September to 6.2 million, while daily active addresses declined 31%. Weekly spot trading volume dropped 21% to $7.45 billion. However, deposits remained above $1 billion and perpetual futures volume rose 26%. Robinhood will continue covering network fees for token swaps worth more than $0.50 through 31 December, aiming to support activity on Robinhood Chain.

A whale who began accumulating UNI, Litecoin and BNB on 23 September has apparently cleared or is preparing to sell its BNB position, after depositing 2,380 BNB—worth about $1.85 million—to Binance within 20 minutes. If sold, the BNB would represent an estimated $73,000 loss. The wallet still holds 1,014,020 UNI, worth about $8.91 million, and 12,397 Litecoin, worth about $841,000. Together, the three altcoin positions are down an estimated $1.536 million. The BNB transfer may add short-term selling pressure, but a sale has not been confirmed.

Ethereum retains potential long-term value as a reserve asset, according to Blockworks analyst Jake Koch-Gallup, despite challenges to ETH’s value capture and its share of the stablecoin market. He argues that ETH’s valuation reflects not only realized economic value (REV), but also a premium tied to its reserve-asset and collateral roles. Its market capitalization is about 1,100 times its REV over the past 12 months. Ethereum accounts for about 65% of DeFi total value locked and 45% of on-chain real-world asset value. Spot ETFs and corporate treasuries hold about 13% of ETH supply, while roughly 36% is staked. Koch-Gallup also says Layer 2 networks such as Base and Robinhood Chain, along with growth in the overall stablecoin market, could support the Ethereum ecosystem. However, he cautions that relying on a reserve-asset premium may not sustainably support ETH’s valuation unless the network develops stronger revenue and value-return mechanisms.

VanEck’s Eric Fine describes stagflation as the baseline outlook for the US economy, highlighting it as a challenge markets may struggle to price. He also discusses geopolitical risks and changing currency dynamics. Fine says questions about the US dollar’s reserve status emerged after 2008 amid fiscal dominance, and argues that sanctions on central bank reserves accelerate that debate rather than start it. The article provides no specific forecasts or direct cryptocurrency outlook, but stagflation and dollar confidence are key macro factors traders may watch.

Ripple has reportedly fixed a dormant 2015 XRP Ledger bug that could have allowed unauthorised minting of billions of XRP if exploited. The flaw was not exploited, and the fix has not changed XRP’s reported fixed supply of 100 billion tokens or the ledger’s supply rules. The XRP minting bug is therefore a security update, not a new supply event. The article says a market forecast put the chance of XRP reaching a new all-time high by the end of 2026 at 5.8% YES, suggesting little immediate change in expectations. Traders may watch for further technical or regulatory updates, while broader market moves—including Bitcoin’s price and Federal Reserve policy—could also affect XRP.

Bitcoin spot ETFs recorded a combined net inflow of $21.13 million on 9 October (US time), according to SoSoValue. BlackRock’s IBIT led with $22.38 million in inflows, while VanEck’s HODL added $2.33 million. Fidelity’s FBTC saw the largest outflow, at $3.58 million. Bitcoin spot ETFs held $105.84 billion in net assets, equal to 6.38% of Bitcoin’s market capitalisation. Their cumulative net inflows reached $57.11 billion.

Ethereum spot ETFs recorded $56.10 million in net outflows on October 9, extending their outflow streak to nine consecutive days, according to SoSoValue. BlackRock’s ETHA accounted for the entire reported daily outflow. Despite the withdrawals, ETHA has attracted $12.793 billion in cumulative net inflows. Ethereum spot ETFs held $15.71 billion in net assets, equal to 5.18% of Ethereum’s market capitalisation, while cumulative net inflows across the funds stood at $13.26 billion. Continued Ethereum spot ETF outflows may signal weaker institutional demand in the near term, though the funds retain substantial cumulative inflows.

US IPO activity continued despite market jitters, with two biotech companies pricing their IPOs during the past week. More firms joined the IPO pipeline, including data center developer DayOne, an emerging-markets fintech company and a dental treatment company. The article describes DayOne as a billion-dollar developer, but provides no further valuation details. Two more biotech IPOs are scheduled for the week ahead. Street research is expected for three companies, while lock-up periods for six sizable IPOs are due to expire. The update points to continued biotech IPO activity alongside a broader, varied US IPO pipeline.

An analysis by Kirsten Chang of Advisor Perspectives says the S&P Composite was 214% above its long-term regression trend in September. The trendline, calculated using a semi-log scale, reflects average annual growth of 2.01%; the index would stand at 2,439 if it were currently at that trend level. Historical prices have moved through multi-year periods above and below the trend, with a standard deviation of about 48%. The analysis highlights the market’s cyclical pattern, but it does not establish when a reversal may occur.

The Q-Ratio, a stock market valuation measure developed by Nobel laureate James Tobin, stood at 2.11 in September 2026. That was 148% above its historical average and 178% above its historical geometric average. The figures point to elevated equity market valuations, though the article provides no direct assessment of cryptocurrency prices or market conditions.

Ledger is investigating wallet drains linked to hardware wallets sold by Southeast Asian reseller CryptoBilis. Estimates differ: Bitquery analysis put losses at about $92.9 million across 311 wallets, while on-chain investigator Specter reported more than $86 million. The affected networks include TRON, Bitcoin, Ethereum, BNB Chain and Polygon. TRON and Bitcoin account for the largest reported losses, and tracked Bitcoin outflows include 213.42 BTC. The cause remains unconfirmed. A theory that devices were modified to capture recovery phrases during setup has not been verified. Separately, former Mt. Gox chief Mark Karpelès reported finding a concealed electronic implant in a Ledger device obtained in Malaysia; no public evidence connects that device to CryptoBilis or the wallet drains. Ledger says reports so far involve devices distributed through the reseller and has not confirmed a breach of its own systems or a supply-chain attack. Ledger asked CryptoBilis to stop sales and shipments on October 9. The reseller has suspended hardware-wallet sales and deliveries in Malaysia, the Philippines and Indonesia while investigations continue. Customers who bought a device from CryptoBilis in the past 90 days and have not initialized it should not set it up. Existing users are advised to create a wallet with a newly generated recovery phrase and move their assets. Tether froze about $10 million in USDT linked to the activity, while suspected attackers reportedly also used Tornado Cash and converted some USDT to USDD. The theft highlights hardware-wallet supply-chain risks, but responsibility, recovery prospects and the precise loss total remain unclear.

The XRP Ledger has patched a vulnerability that may have existed since 2015 and could have let attackers create and spend XRP without paying the corresponding amount, potentially threatening the token’s 100 billion supply cap. Researchers Cayden Liao and Veria AI reported the flaw to RippleX on Sept. 22. The exploit used a counting error in the ledger’s built-in exchange, allowing accounts to receive large amounts of XRP while paying almost nothing. RippleX reproduced the issue on a standalone server but reported no evidence of exploitation on public networks. The fix was released in xrpld version 3.4.1 on Sept. 25. For XRP traders, the incident underscores protocol security risks, while the patch and lack of known exploitation limit the immediate market impact.

BlackRock’s iShares Bitcoin Trust (IBIT) recorded a net inflow of $22.4 million on October 9, according to Farside Investors data. The inflow followed a $207.7 million outflow on October 7, while the fund had attracted $195.6 million during the first week of October. The fluctuating Bitcoin ETF flows point to uneven investor demand rather than a clear trend. Bitcoin had recently traded between $78,700 and $85,000. IBIT is the largest US spot Bitcoin ETF, with cumulative inflows exceeding $65 billion since launch.

Thailand’s Securities and Exchange Commission has finalized rules for locally established Bitcoin ETFs and Ether ETFs to trade on the Stock Exchange of Thailand. The 11 regulations take effect on October 16, but do not approve any specific fund; qualifying asset managers may apply under the new framework. Initially, funds may track only Bitcoin or Ether and must maintain average exposure of at least 80% of net asset value to the relevant asset over the accounting year. Crypto holdings must be safeguarded by custodians licensed by Thailand’s SEC. Funds will trade exclusively on the Thai exchange, and brokerages cannot lend investors money to buy them. Investors must receive risk information and confirm they understand it before trading. The rules create a regulated domestic route to Bitcoin ETFs and Ether ETFs, while restricting some products linked to overseas crypto funds during the initial rollout. The framework could broaden investor access, but its immediate market effect will depend on whether asset managers launch funds and how much demand they attract.

XRP has fallen below $1.35 after a market-wide downturn, but analysts say its broader bullish structure may remain intact. EGRAG CRYPTO identifies $1.20 as the key monthly support level, based on the 33 EMA and 111 EMA. A sustained monthly close below that level would weaken the bullish thesis. If XRP recovers, the analyst says it must first reclaim $1.65; longer-term targets of $4–$8, and a highly speculative scenario above $15, depend on the market structure holding up. On the four-hour chart, analyst Bird points to support around $1.30–$1.34 and resistance at $1.52–$1.56. He says a breakout could open a path towards $2, while Celal Kucuker also considers $2 possible by month-end. These are analyst projections, not confirmed outcomes. Traders are likely to watch XRP’s support and resistance levels, broader market conditions and trading volume for signs of a sustained move.

Hyperliquid has generated more than $1.4 billion in cumulative revenue, with over $1.26 billion reportedly used to buy back its HYPE token on the open market, according to a report by WuBlockchain. The figures point to substantial activity on the decentralized derivatives protocol and a direct link between fee revenue and HYPE buyback demand. Buybacks may support market sentiment and reduce circulating supply, but they do not guarantee a higher token price. Traders will also weigh protocol activity, broader market conditions and potential security or regulatory risks.

MAGIC rose 130% over 24 hours, reaching $0.1532, according to OKX market data. Its market capitalisation climbed to $53 million. The sharp MAGIC price move puts the token in focus for traders, but the report does not identify a specific catalyst. Traders may therefore watch trading volume and price action for signs of whether the rally can continue.

Seeking Alpha’s daily political discussion forum outlines its comment and moderation rules. The site says personal attacks, misinformation, prejudiced language and calls for violence may be removed, and asks users to remain courteous. It also warns that the forum is less strictly regulated than other site content and is intended for political discussion. The article contains no specific market developments, company news or cryptocurrency updates.

Unchained has outlined its sponsorship formats, audience figures and eligibility rules for crypto advertisers. The publisher reports 43 million lifetime podcast downloads and video views, 73,500 YouTube subscribers, 6.7 million lifetime YouTube views and 19,000 Unchained Daily subscribers. Available placements include podcast ads, newsletter sponsorships and clearly labelled paid-partnership videos. Unchained says sponsors cannot influence editorial coverage, and all advertising must be disclosed. Ads cannot promote token prices, returns or upside. The outlet excludes token sales, memecoins promoted on price, guaranteed-return schemes, unlicensed services and other categories it considers high-risk. Potential sponsors undergo background checks covering their legal status, leadership, licenses and enforcement history. The announcement describes Unchained’s advertising policy; it does not report a crypto market or company-development catalyst.

Hong Kong is studying longer securities trading hours, with the derivatives market expected to be the first to adopt the change. Hong Kong Exchanges and Clearing plans to publish a discussion paper on extending cash-market hours in the fourth quarter. The regulator also plans to shorten the settlement cycle to T+1, with an HKEX consultation summary expected soon. The proposed Hong Kong trading hours extension would be supported by settlement measures including tokenised money and a digital Hong Kong dollar. Separately, the first phase of a bid-ask spread reduction initiative covered 300 stocks, narrowing spreads by 38% and cutting execution time by 26%; early results from phase two show spreads narrowing by about 30%.

Glaukos is expanding beyond a single-product business, with its iDose TR glaucoma treatment and newly launched Epioxa supporting growth. Second-quarter net sales rose 50% year over year to $185.6 million. Non-GAAP gross margin reached 85%, and the company reported a breakeven P&L. Management raised its 2026 net sales guidance to $680 million–$700 million, including expected iDose TR sales of $275 million–$280 million and growth of more than 20% in its corneal health business. Glaukos also has a second growth driver in Epioxa, whose commercial launch and insurance coverage could help diversify revenue. A key risk is whether five Medicare contractors finalize proposed coverage limits for iDose TR. The restrictions could weigh on adoption, but the article presents the risk as material rather than certain to derail growth. For Glaukos, the balance between Medicare coverage and Epioxa’s launch will be important to future sales and investor expectations.

Meme coin trading activity varied sharply across chains in the 24 hours to 10 October 2026, with Solana recording the highest Top 10 turnover at $93.44 million. ZEC led Solana tokens with $19.13 million in volume, while QI posted an exceptional 24-hour gain of 133,686%. SIB, PAWS and MEMECHAN also rose strongly. BNB Chain’s Top 10 turnover reached $78.08 million, led by pPOLY at $33.45 million. On Robinhood Chain, turnover was $67.24 million, with NVDA in front at $21.48 million; ORBIO gained 51.9%. Base recorded $27.35 million in Top 10 turnover, led by DRV at $12.82 million, while trading activity across tokens was mixed. The figures point to rapidly shifting meme coin hotspots and extreme price volatility. The report advises traders to manage risk and do their own research.

Twenty-one Binance accounts linked to sanctioned Iranian financier Babak Zanjani handled about $850 million in transactions, with at least $67 million sent to wallets associated with Iran’s Islamic Revolutionary Guard Corps (IRGC), according to the report. Binance accounts also received more than $10 million for high-value customer Sukhrob Oimakhmadov, whose account was reportedly accessed multiple times from Tehran. Binance said it had closed the accounts and cautioned that the total transaction volume does not represent funds sent to the IRGC. The findings raise questions about crypto exchange compliance and sanctions controls, but do not establish that the full $850 million was connected to the IRGC.

The US National Credit Union Administration (NCUA) has proposed adding 26 stablecoin reporting fields to quarterly Form 5300 filings. The requirements would apply to federally insured credit unions conducting stablecoin business, with implementation targeted for 31 March 2027. The proposed stablecoin reporting fields cover reserve assets held for authorised third-party issuers (8 fields), custody and control of cryptographic keys (9), financial exposure to issuers (5), and payment stablecoins held on institutions’ balance sheets (4). The NCUA estimates the collection would cover 4,224 credit unions and require 794,112 hours of reporting work each year, including an average of 47 hours for a full quarterly filing. Public comments are due by 8 December.

Pearl and Nockchain are early-stage Layer 1 projects using proof of useful work (PoUW) to give mining compute practical applications. Their approaches could connect crypto incentives with the growing demand for AI computing, but adoption and execution risks remain. Pearl focuses on AI compute. Its miners use GPUs for matrix multiplication tasks related to AI training and inference, earning PRL tokens and submitting cryptographic proofs. The network currently supports integer matrix operations; the team plans to add low-precision floating-point support. Pearl has partnered with Together AI to offer discounted inference services and token rewards to customers. Nockchain targets a broader verifiable-computing market. Miners perform calculations off-chain and submit zero-knowledge proofs for on-chain verification. Its NockVM supports applications called NockApps, while NOCK is used for gas and as an asset in its computing market. Nockchain plans to add matrix multiplication and build out AI-computing services. A two-way bridge with Base provides an additional route for NOCK trading. Both projects aim to make useful computation part of crypto mining, but neither has yet demonstrated broad adoption. Pearl is more narrowly focused on AI workloads, while Nockchain emphasizes flexible, verifiable computation. For traders, the projects’ partnerships, technical delivery, token demand and ecosystem growth are key signals to watch; the article provides no performance data or evidence of near-term market impact.

US President Donald Trump said Russia agreed to supply more than 300,000 tonnes of diesel immediately, with further deliveries that could bring the total to about 4.8 million tonnes. He also claimed the US had “complete control” of the Strait of Hormuz and that 28 million barrels of oil had passed through the waterway the previous day. Trump urged US refiners and retailers to lower prices. These claims have not been independently confirmed in the article. Kpler data showed Gulf crude exports exceeded pre-war levels on 14 days in September, although the figures also include shipments using routes outside the Strait of Hormuz. Shell’s chief executive estimated Middle Eastern oil flows were around 80% of pre-war levels. The US Treasury issued a license permitting Russian-origin diesel sales, transport and imports through April 2027. Analysts said the additional supply could lift global supply by 5% to 6% by year-end, but was unlikely to significantly shift the diesel market. US diesel futures fell about 4% on the day. The developments could affect oil prices and inflation expectations, but the article reports no direct impact on cryptocurrency markets.