Crypto News

Elon Musk showed interest in investor Stanley Druckenmiller’s post about backing a US venue for Hyperliquid-native perpetual futures. The initiative, involving trade[XYZ], would bring crypto and other asset derivatives to the US market, but it depends on approval from the Commodity Futures Trading Commission (CFTC). Hyperliquid’s HYPE token reportedly rose 9% to 13% after the news, signalling a positive immediate market response. Traders will be watching for regulatory updates and further comments from Musk or Druckenmiller. The proposal could increase institutional attention on Hyperliquid and decentralised derivatives, although its launch remains uncertain until CFTC approval.

Polygon has extended its stablecoin payment infrastructure to Solana, enabling businesses to connect bank accounts, crypto wallets and payouts on the network. The expansion adds a real-world payment use case for Solana, but Polygon has not disclosed launch partners, fees or transaction volumes, leaving demand uncertain. The news comes as SOL trades near $102, about 60% below its all-time high. SOL is down roughly 14% over the past month and 5% over the past week. Technically, it sits between the 50-day moving average near $105 and the 200-day average around $98. A close above resistance near $106 could open a path towards $113; support is around $97.45, with a further chart level near $77.84 if that floor breaks. Momentum indicators remain weak: the RSI is 39, while the MACD is below its signal line. The payment integration may support Solana’s longer-term utility, but traders have yet to respond with clear buying. The near-term outlook remains cautious until SOL breaks above resistance or loses support.

Chainlink (LINK) has recorded net outflows from Binance for 18 consecutive days, with about 280,200 LINK withdrawn. The trend could reduce readily available exchange supply, but it does not prove that investors are accumulating. Some withdrawals may also reverse an earlier deposit of roughly 8.7 million LINK. LINK traded near $11.92 and remains down about 23% over the past month. Its price is below the 50-day moving average near $12.22 but above the 200-day average around $11.01. RSI at 45 is neutral, while MACD remains below its signal line, indicating that sellers still have momentum. Key levels are support near $11.20 and resistance in the $12.10–$12.30 band. A sustained move above the 50-day average, followed by a break above $12.71, would offer stronger price confirmation for the Binance outflows and could put $13.60 in view. A breakdown below support and the 200-day average could expose the next floor near $9.75. For now, LINK’s exchange withdrawals are a potentially constructive supply signal, not a confirmed bottom.

Bitcoin fell 1.5% as US stock futures and other risk assets weakened after personal consumption expenditures (PCE) inflation came in high but in line with expectations. The S&P 500 was down more than 0.5%, while gold and silver also declined. Bitcoin is trading within a descending channel, although it has so far held up relatively well compared with other markets. The article identifies $79,500 as near-term support, a level where Bitcoin has recently bounced. The 50-day simple moving average sits overhead as resistance. A break above it could help revive the rally. On the weekly chart, the article describes a possible bull-flag pattern that could point to a move towards $90,000 if it breaks higher, though the pattern may be invalidated if the price has fallen too far within it. For now, Bitcoin’s direction depends on whether support holds and broader markets recover.

OPEC+ is expected to keep December oil production targets unchanged at a November 1 meeting, according to three sources cited by Reuters. The seven key producers—Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman—are unlikely to change their ceilings before 2027, though no final decision has been made. Brent crude traded near $113.77 a barrel on October 29, while US West Texas Intermediate was around $100.78. Despite earlier quota increases, Iran conflict-related disruptions have left some Gulf producers unable to reach their targets. The core group produced about 25 million barrels per day in August, roughly five million barrels below February levels. Renewed US-Iran diplomatic contacts eased prices, but shipping risks around the Strait of Hormuz and reports of tanker incidents continue to support a geopolitical premium. OPEC+ also faces a production-capacity review that will help set members’ 2027 baselines. For oil traders, the key issue is whether physical supply can recover; higher quotas alone may not bring additional barrels to market.

Hyperliquid Strategies (Nasdaq: PURR), a company with a HYPE treasury, rose 16.45% after the US stock market opened, reaching $11.61. The move followed news that Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is partnering with Trade.xyz to plan a US-focused perpetual futures market built on Hyperliquid. The announcement may bolster attention on Hyperliquid and its HYPE token, though the report does not provide details on the project’s timeline or launch plans.

Ripple CEO Brad Garlinghouse said the company “will never give up on XRP” at Swell 2026, but the token’s price and Ripple’s growing business show a widening gap. XRP trades at $1.29, down 30% this year and 64.6% below its July 2025 record. Ripple reported a $50 billion valuation, a $900 million annual revenue run rate and rapid growth in its RLUSD stablecoin, which is used in several recent institutional deals. Those partnerships may bring some activity to the XRP Ledger, but transaction fees burn only small amounts of XRP. Since January, about 153,989 XRP has been burned, compared with Ripple’s monthly escrow release of 1 billion tokens. Potentially stronger demand could come from institutional custody, collateral use and proposed lending upgrades, though adoption figures and activation dates remain unclear. XRP is also below its 200-week and 50-week EMAs. Traders are watching $1.2468 as support; a weekly close below it could expose the $0.9862 level. A move above $1.3715 would be an initial sign of improving momentum. Whether Ripple’s new deals benefit XRP directly remains uncertain.

XRP fell nearly 3% in Asian trading on October 29, 2026, to around $1.29, as a brief post-Federal Reserve bounce faded. The Fed held its benchmark rate at 3.75% to 4.00%, but the 10-2 vote included two governors, Lisa D. Cook and Beth M. Hammack, who preferred a 0.25 percentage point increase. Their dissent kept hawkish rate concerns in focus. Selling pressure also reflected worries about technology stocks, softer institutional demand and forced crypto liquidations. XRP underperformed other major tokens: Bitcoin traded between $80,000 and $81,000, while Ethereum held around $2,320 to $2,343. The divergence points to weaker risk appetite for XRP and other altcoins during the session. The $1.29 level is a near-term test for XRP buyers, but the token’s direction may also depend on Bitcoin’s trend, upcoming economic data and signals from the Fed. The rate hold did not provide a lasting boost to XRP.

Ether (ETH) traded near $2,313 on October 29, down about 1.7% on the day. CoinGlass data showed ETH funding rates below 0.005%: the open-interest-weighted rate was 0.0042%, the volume-weighted rate 0.0043%, and Binance’s ETHUSDT rate 0.0041%. Rates remain positive, meaning long traders still pay shorts, but ETH funding rates point to less demand for leveraged bullish positions rather than a clear shift to bearish bets. ETH open interest stood at about $23.88 billion, down roughly 10% to 12% from around $26.5 billion to $27 billion in late September. The decline suggests traders have reduced leverage or withdrawn capital from derivatives markets. The article also cited $60.22 million in Ether ETF outflows as market context. The derivatives picture is cautious, but a reading below 0.005% alone is not a bearish signal. Traders will be watching whether funding turns negative alongside further price weakness, or whether open interest rebuilds as ETH holds near $2,313.

Ondo Intelligent Portfolios has launched on Solana, bringing seven tokenized investment portfolios to eligible investors outside the US through Solana wallets and apps. The portfolios cover income, growth and themes such as major technology companies and artificial intelligence. Three use model strategies developed by BlackRock for Ondo; BlackRock does not manage the portfolios or make investment decisions for them. Ondo said the portfolios surpassed $40 million in combined total value locked on Ethereum and BNB Chain during their first four weeks. The Solana launch adds to Ondo’s more than $500 million in TVL on the network across tokenized assets. Each Ondo Intelligent Portfolio combines multiple holdings in one onchain token, with visible holdings and programmatic rebalancing. The expansion gives Solana users access to diversified tokenized exposure, but availability is subject to eligibility and regional restrictions.

Polymarket is investigating a series of unusually well-timed bets placed during Israel’s election. Analysis of the platform’s trading ledger found that hundreds of newly created accounts bet on Benjamin Netanyahu and his Likud party shortly before polling stations closed on Tuesday. The bets quickly became profitable. After some exit polls suggested Likud had won more seats than early reports indicated, several accounts had reportedly cashed out more than $100,000 combined. The activity has renewed concerns about potential insider trading and market oversight on prediction platforms. Polymarket has not disclosed the investigation’s findings.

US intelligence reportedly assessed that Megaspeed executive Alice Huang was a Chinese intelligence asset and had close contact with Nvidia chief executive Jensen Huang. The New York Times reported that President Donald Trump received a briefing about the intelligence roughly a year ago but took no action, amid concerns about Nvidia sales and US-China trade ties. The report does not accuse Jensen Huang of knowing about or assisting any intelligence activity. US investigators have examined whether Megaspeed helped route advanced Nvidia AI chips or computing capacity to Chinese firms through Southeast Asia. ImportGenius data cited in the report shows that a Malaysian affiliate bought at least $4.8 billion in advanced AI equipment containing Nvidia technology between June 2024 and February 2026. The US Commerce Department investigation has been referred to the Justice Department. Megaspeed says it has commissioned an external review and will cooperate; Nvidia denies evidence of chip smuggling. The case highlights scrutiny of third-country data centres and remote access to AI computing power. Any tighter US export controls could affect Nvidia sales, Southeast Asian data-centre operators and the global AI supply chain.

The XRP Ledger’s proposed native lending system remains short of the validator support required for activation. In an October 29 snapshot, LendingProtocol had 18 votes against the 28 needed; a separate network snapshot showed 19 of the required 29. Its companion SingleAssetVault amendment had 20 votes, while LendingProtocolV1_1 had 18. None of the three lending amendments has cleared the threshold. The proposals would enable institutions to pool XRP and eligible tokens for fixed-term loans. ConfidentialTransfer, a privacy feature for supported token transfers, was also below the required support, with 19 votes. Sponsor, which could let businesses cover users’ transaction fees and account reserves, had nine. By contrast, the technical cleanup amendment fixCleanup3_4_0 has entered its two-week activation countdown and is targeting November 4, provided support stays above 80%. The update highlights the difference between proposed XRP Ledger features and changes approved for the live network. Lending and institutional tools could eventually expand utility for XRP and tokenized assets, but the vote delays mean there is no immediate change to mainnet functionality.

The Stellar Development Foundation (SDF) has made a strategic investment in Marketnode, a digital market infrastructure operator focused on Asia-Pacific. The investment is intended to expand institutional investors’ access to tokenized real-world financial assets through the Stellar network. Backed by Euroclear, HSBC, Singapore Exchange Group and Temasek, Marketnode supports the issuance, distribution and servicing of funds, credit and structured products. Its platform connects asset managers, issuers, distributors and eligible investors. The partnership could strengthen Stellar’s institutional RWA presence in Asia-Pacific, though the announcement did not disclose the investment amount or a launch timeline.

Bitcoin price recovered above $80,000 on Thursday after briefly falling to about $79,800. The rebound came as traders weighed stronger US growth and persistent inflation against the prospect of interest rates staying high. The US economy expanded at an annualised 3.4% in the third quarter, ahead of the 3.2% forecast. Annual core PCE inflation, the Federal Reserve’s preferred underlying inflation measure, reached 3.1% in September, while headline PCE inflation was 3.6%. Both remained above the Fed’s 2% target. Strong growth and sticky inflation may give the Fed reason to maintain restrictive policy or consider further rate increases. Higher rates can weigh on Bitcoin by making yield-bearing assets more attractive. The Fed had kept its benchmark rate at 3.75%–4.00%, with two officials reportedly favouring another increase. For traders, $80,000 is a key near-term support level. Resistance sits around $81,400, followed by $82,000–$82,500; a sustained break above that zone could bring $84,202 into focus. If Bitcoin falls, $78,000 and $76,000 are potential support levels. Spot Bitcoin ETFs recorded $423.66 million in inflows over three sessions, while exchange data showed notable BTC withdrawals. These indicators offer some support but do not remove the macroeconomic risks facing Bitcoin price.

A comparison of stablecoin infrastructure providers finds five main categories: deposit and settlement services, aggregators and intent networks, custody platforms, embedded wallets, and licensed payment platforms. They differ in who controls liquidity, screening, settlement, fiat access and responsibility when a transfer fails. Deposit and settlement providers such as Rhino.fi, Relay, Bridge and MoonPay deliver funds on a destination chain. Aggregators including LI.FI and Squid offer broad route coverage but rely on third-party venues. Custody and embedded-wallet providers focus on key security and wallet creation, while BVNK and Zero Hash offer regulated payment services and fiat rails. The article says Rhino.fi supports more than 30 chains and transactions of up to $10 million on major routes, with the credited amount set at quote. It does not yet offer fiat rails; those are planned for Q4 2026. The comparison argues that provider choice depends on a business’s needs: price and broad coverage, predictable settlement, custody, end-user wallets, or regulated fiat access.

Japan Tax Free, JPYC and UPBOND are developing a system to pay eligible foreign visitors’ tax refunds in JPYC, a yen-pegged stablecoin, on Avalanche C-Chain. The service is scheduled to launch on November 1, 2026. Travelers can use a compatible wallet or create one through UPBOND, while merchants will not handle customers’ financial data. The JPYC tax refund system is designed to support Japan’s shift to a refund-upon-departure model: visitors pay tax-inclusive prices, then receive refunds after customs verifies their purchases when they leave. Refunds must be completed within 90 days. The partners cite efficiency, lower intermediary fees and anti-money laundering compliance as aims. JPYC is recognized as an electronic payment instrument under Japan’s Payment Services Act. The JPYC tax refund rollout could demonstrate a practical stablecoin use case, but its direct effect on broader crypto trading is likely limited.

The XRP Ledger recorded 32,604 daily active accounts on October 27, about 68% above its 30-day average of 19,400 and its highest level in 2026. Yet XRP traded near $1.29 on October 29, down about 2.6% in 24 hours and 13% over the past month. The rise in XRP Ledger activity has not translated into stronger demand for XRP. Active accounts count transaction senders, not necessarily individual users, and activity from institutions or automated systems may not signal new investor interest. Stablecoin transfers and other ledger operations can also increase network usage without requiring significant XRP purchases. Traders are watching the $1.25 support area; a move back toward $1.33–$1.37 could suggest improving momentum, while a sustained break below $1.25 may increase downside risk. Ripple’s scheduled November 1 escrow release, which could make up to one billion XRP available, is another factor to monitor.

Strategy’s Bitcoin holdings were reported at about 848,500 BTC in its October 26 filing, acquired at an average price of $75,446 per coin. With Bitcoin near $80,300, the position was roughly 6% above cost, representing about $4 billion in unrealized gains; the company said it had spent about $64 billion acquiring its Bitcoin. An earlier filing reported that Strategy bought 267 BTC for just over $22 million, taking its holdings to 848,517 BTC and bringing its October purchases to about $73 million. In contrast, for the week ended October 25, Strategy reported no Bitcoin purchases and spent $204.9 million repurchasing STRC preferred shares. The differing holding figures reflect separate reported snapshots. Strategy had estimated $20.91 billion in Bitcoin-related gains for the third quarter, when BTC was around $83,500 at September 30. The company was scheduled to report results after the US market close. For Bitcoin traders, the purchase disclosure reinforces Strategy’s long-term treasury demand, while the later pause suggests the company’s buying is not continuous. Its unrealized gains and share repurchases affect Strategy’s financial profile, but do not by themselves determine Bitcoin’s near-term price direction.

Franklin Templeton has launched two US equity and Bitcoin ETFs, both set to list on Nasdaq. The funds start with a 95% allocation to US stocks and 5% Bitcoin exposure, and systematically invest stock dividends in Bitcoin. Their underlying indexes will review the Bitcoin allocation quarterly. FBEQ tracks about 500 large US companies and charges a 0.09% annual fee. FIBT tracks 100 large US non-financial companies listed on Nasdaq and charges 0.19%. The Bitcoin ETFs offer investors a small, rules-based Bitcoin allocation alongside equity exposure.

The Federal Reserve held its federal funds target range at 3.75% to 4.00% on October 28, citing strong economic growth, elevated inflation and ongoing uncertainty. The decision passed with ten votes; Lisa Cook and Beth Hammack dissented in favor of a quarter-point rate increase. For Bitcoin, the hold leaves borrowing costs and dollar liquidity unchanged for now, but the two dissenting votes underline the risk that monetary policy could remain restrictive. Higher rates can make cash and yield-bearing assets more attractive than Bitcoin, which pays no income. The Fed did not signal a specific next move, and the decision does not establish that a rate cut or hike is imminent. Crypto traders may monitor Treasury yields, the US dollar, Bitcoin ETF demand and derivatives positioning alongside upcoming inflation and employment data. These indicators can help show whether financial conditions are easing or continuing to weigh on risk appetite. A single announcement or trading session is not enough to establish a lasting Bitcoin trend.

The Federal Reserve held its target interest rate steady, in line with widespread expectations. The Fed’s pause suggests policymakers are waiting for more information, while the bond market appears willing to accept a temporary halt in rate hikes. Further increases remain possible as the central bank continues to confront inflation. The outlook is uncertain, with the Iran war among the key risks that could affect economic conditions and monetary policy. For crypto traders, the decision offers no direct market catalyst, but expectations for future rates and shifts in bond yields may influence risk appetite and volatility.

Bitcoin has retreated from its rebound, which previously stalled near $88,000, and is now testing support around $80,000. The latest analysis places near-term support at $79,200–$79,500 on the daily chart and $78,400–$79,600 on the four-hour chart. A sustained break below these levels could expose demand around $75,000–$78,000. Bitcoin still shows lower highs after rejection from the $85,500–$90,500 supply zone and remains below a broken short-term trendline, although its broader ascending channel has been described as intact. To improve the short-term structure, BTC needs to reclaim $81,500–$82,000 and then overcome resistance around $84,000–$85,000; earlier analysis also identified $88,000 as a key resistance level. CryptoQuant’s Bull-Bear Market Cycle Indicator has turned positive, suggesting improved underlying momentum but not confirming a sustained bull market. Large average spot orders during the retreat show that major traders remain active, though order size alone does not reveal whether they are buying or selling. Traders are watching whether Bitcoin can hold the $80,000 area or reclaim $82,000 to show stronger demand.

AI power constraints are becoming a bigger obstacle to growth, with electricity supply, grid access and data-centre capacity increasingly limiting expansion alongside chip availability. UBS previously tracked 276 GW of data-centre capacity under construction or planned, but estimated that 2027 demand would require 57 GW against just 38 GW of sites with confirmed power. It highlighted the mismatch in timelines: data centres can take 12–24 months to build, while new power capacity may take five to 10 years. US grid interconnection queues total about 2.3 TW, with a median wait of roughly six years; UBS estimated $511 billion in new US power-generation investment would be needed by 2030. Transformer delivery can take up to 210 weeks. UBS also named Core Scientific (CORZ) and Applied Digital (APLD) among colocation operators it favours, projecting about 80% annual EBITDA growth from 2027 to 2029, and said power supply could reach around 415 GW by 2030 if planned projects proceed. The later Delphi Digital analysis adds signs of mounting grid stress. ERCOT’s large-load queue rose from 63 GW at the end of 2024 to 474 GW by June 2026, with data centres accounting for about 90%. PJM’s last three capacity auctions reached the price cap and remained 6.6–6.8 GW below reliability targets. Goldman Sachs forecasts data-centre power demand will rise 170% from 2025 to 2030, with $7.6 trillion in related capital spending through 2031, and expects hyperscaler debt issuance to increase by $420 billion in 2027. NERC projects a 224 GW rise in North American summer peak demand over the next decade and warns that 13 of 23 regions could face shortfalls by 2030. For traders, the reports reinforce that AI power constraints—and the ability to secure grid connections, equipment and project funding—are key indicators of whether planned data-centre capacity can come online. The trend may benefit power generation, grid equipment and interconnection providers, while creating execution and financing risks for AI infrastructure projects. UBS’s positive view on CORZ and APLD is company-specific; neither report identifies a direct price catalyst for cryptocurrencies.

Bitcoin per share (BPS) metrics help investors assess how much bitcoin treasury companies hold for each common share, but they do not all measure the same thing. Raw BPS divides bitcoin holdings by existing shares, while Bitcoin per assumed diluted share (BPADS) also includes potential shares from instruments such as warrants and convertible securities. BPADS can be conservative because those securities may never convert. Net Bitcoin per share (Net BPS) goes further by accounting for senior claims, such as debt and preferred stock, which rank ahead of common equity. It estimates the bitcoin value remaining for common shareholders. Cash can either offset those claims or be reported separately, alongside Net BPS. Because dollar-denominated claims become smaller in bitcoin terms as BTC rises, Net BPS changes with bitcoin’s price. To judge whether a financing deal genuinely benefits common shareholders, investors should compare Net BPS before and after the deal at a constant bitcoin price. The article argues that Net BPS is the most comprehensive measure for evaluating capital structure, economic accretion and a bitcoin treasury company’s implied equity value.

Crypto trading platform Backpack has partnered with South Korea’s SK Securities to plan Korean stock trading access through the Backpack app for eligible global investors. SK Securities will contribute its expertise in South Korea’s capital markets, while Backpack will provide access to its international user base. The companies also plan to explore tokenized securities and real-world assets (RWA), building on Backpack’s existing US stock securities platform. The announcement did not specify a launch date or further details on eligibility. The planned Korean stock trading service could broaden Backpack’s financial offerings, but its immediate impact on crypto markets is likely limited.

Pump Box says it has opened a dedicated airdrop campaign for users who lost money trading PONS. The project announced the initiative on X and said eligible users can now access the participation portal. Pump Box has not disclosed the allocation, eligibility rules or distribution schedule, so the campaign’s potential value to affected traders remains unclear.

BiXBiT has launched custom firmware for Bitmain Antminer S21, S19, T21, T19, L9 and L7 series Bitcoin miners. The company says early deployments achieved up to 40% higher hashrate and 35% better energy efficiency, using tuned performance profiles, adjustable power settings and thermal controls. These are company-reported results, not independently verified figures. The firmware can disable an unstable hashboard while keeping a miner running on its remaining boards. It connects to BiXBiT AMS 3.0, which lets operators monitor hashrate, temperature, power use and profitability, manage fleets and receive alerts. Support is limited to devices with Bitmain stock firmware released before August 2026; later versions are not yet supported. The launch may help mining operators optimize costs, but its direct effect on Bitcoin’s price is likely limited.

Brazil’s crypto regulation deadline falls on Friday, requiring exchanges already operating in the country to apply for authorization if they want to continue serving customers. Filing an application allows firms to keep operating while the Central Bank of Brazil reviews it, a process that could take up to two years. New providers must be authorized before launching regulated services. The Brazil crypto licensing process carries significant costs. Capital requirements range from 10.8 million reais (about $2 million) to 37.2 million reais, alongside audits, technical certification and anti-money-laundering controls. Lawyers warn that these obligations could strain smaller exchanges and increase market concentration. Firms that miss the deadline must stop services within 30 days, while banks and payment providers face restrictions on transactions with unauthorized firms from Nov. 6. Unresolved rules on verifying self-custody wallets, reporting transfers and applying a $100,000 limit to some international transactions are adding uncertainty. Binance Brazil chief Thiago Sarandy said unclear requirements could lead to inconsistent reporting. The Brazil crypto rules arrive as the country ranks first globally for grassroots crypto adoption, with $252.5 billion in crypto activity from July 2025 to June 2026, according to Chainalysis.