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What Wealth Managers Should Know About the Resurgence of the Institutional Loan Market

by admin October 2, 2025

Happy Uptoper! In today’s “Crypto for Advisors” newsletter, Gregory Mall, chief investment officer at Lionsoul Global, explains the evolution of bitcoin-backed lending in both decentralized and centralized financial systems.

Then, Lynn Nguyen, CEO of Saros, answers questions about tokenized stocks in “Ask an Expert.”

Thank you to our sponsor of this week’s newsletter, Grayscale. For financial advisors near San Francisco, Grayscale is hosting an exclusive event, Crypto Connect, on Thursday, October 9. Learn more.

– Sarah Morton

Crypto as Collateral: What Wealth Managers Should Know About the Resurgence of the Institutional Loan Market

Lending and borrowing have long been central to financial markets — and crypto is no exception. In fact, collateralized lending emerged in the digital asset space well before Decentralized Finance (DeFi) protocols gained prominence. The practice itself has deep historical roots: Lombard lending — using financial instruments as collateral for loans — dates back to medieval Europe, when Lombard merchants became renowned across the continent for extending credit secured by movable goods, precious metals, and eventually securities. By comparison, it has taken only a short time for this centuries-old model to conquer digital asset markets.

One reason lending against crypto collateral is so compelling is the unique liquidity profile of the asset class: top coins can be sold 24/7/365 in deep markets. The speculative nature of crypto also drives demand for leverage, while in some jurisdictions Lombard-style loans offer tax advantages by enabling liquidity generation without triggering taxable disposals. Another important use case is the behavior of bitcoin maximalists, who are often deeply attached to their BTC holdings and reluctant to reduce their overall stack. These long-term holders typically prefer borrowing at low loan-to-value ratios, with the expectation that bitcoin’s price will appreciate over time.

The History of the Collateralized Lending Market

The first informal bitcoin lenders appeared as early as 2013. But it was during the ICO boom of 2016-2017 that institutional-style players such as Genesis and BlockFi emerged. Despite the crypto winter of 2018, the centralized finance (CeFi) market expanded, with retail-focused firms like Celsius and Nexo joining the fray.

The rise of DeFi in 2020-2021 further supercharged lending. Both CeFi and DeFi platforms proliferated, competing aggressively for depositors. But as competition intensified, balance sheet quality deteriorated. Several major CeFi players operated with significant asset–liability mismatches, leaned heavily on their own governance tokens to bolster balance sheets, and relaxed underwriting standards, especially with regard to haircuts and LTVs (loan-to-value ratios).

The fragility became clear in the second quarter of 2022, when the collapses of the stablecoin TerraUSD (UST) and the hedge fund Three Arrows Capital (3AC) triggered widespread losses. Prominent CeFi lenders — including Celsius, Voyager, Hodlnaut, Babel, and BlockFi — were unable to meet withdrawal demands and entered bankruptcy. Billions of dollars in customer assets were erased in the process. Regulatory and court-led post-mortems pointed to familiar failings: thin collateral, poor risk management, and opacity around inter-firm exposures. A 2023 examiner’s report on Celsius described a business that marketed itself as safe and transparent while in reality issuing large unsecured and under-collateralized loans, masking losses, and operating in what the examiner likened to a “Ponzi-like” fashion.

Since then, the market has undergone a reset. The surviving CeFi lenders have generally focused on strengthening risk management, enforcing stricter collateral requirements, and tightening policies around rehypothecation and inter-firm exposures. Even so, the sector remains a fraction of its former size, with loan volumes at roughly 40% of their 2021 peak. DeFi credit markets, by contrast, have staged a stronger comeback: on-chain transparency around rehypothecation, loan-to-value ratios, and credit terms has helped restore confidence more swiftly, pushing total value locked (TVL) back toward its 2021 record levels.(DefiLlama).

Source: Galaxy Research

Does CeFi have a role next to DeFi?

Crypto has always been driven by an ethos of on-chain transparency and decentralization. Yet CeFi is unlikely to disappear. Following the crisis, the space is more concentrated, with a handful of firms, such as Galaxy, FalconX, and Ledn, accounting for the majority of outstanding loans. Importantly, many institutional borrowers continue to prefer dealing with licensed, established financial counterparties. For these players, concerns around anti-money laundering (AML), Know Your Customer (KYC), and Office of Foreign Assets Control (OFAC) exposure as well as regulatory risks, make direct borrowing from certain DeFi pools impractical or impermissible.

For these reasons, CeFi lending is expected to grow in the coming years — albeit at a slower pace than DeFi. The two markets are likely to evolve in parallel: DeFi providing transparency and composability, CeFi offering regulatory clarity and institutional comfort.

– Gregory Mall, chief investment officer, Lionsoul Global

Ask an Expert

Q. How will Nasdaq’s integration of tokenized securities into the existing national market system and related investor protections benefit investors?

This step immediately brings three thoughts to mind — distribution, efficiency, and transparency. It’s a game-changer for everyday investors who aren’t engaging much in traditional finance. Blockchains are becoming more scalable each year, and I love the idea of efficient, composable Decentralized Finance (DeFi) use cases for tokenized securities. Plugging these assets into our industry means we’ll also see far more transparency compared to legacy systems.

Stats back this up — the global tokenized asset market is hitting around $30 billion this year, up from just $6 billion in 2022. This means broader distribution — imagine a small investor in rural America earning 5 to 7% yields on tokenized stocks without needing a broker’s blessing. Moving from traditional finance to DeFi, I’ve seen myself how blockchains can optimize while also being more transparent and inclusive. This isn’t just hype — it’s about helping more people build wealth through smarter, digitized tools that level the playing field.

Q. What are the challenges investors might face if the Securities and Exchange Commission (SEC) approves Nasdaq’s proposal to trade tokenized securities?

It’s not going to all be plain sailing. Firstly, there will be technical hurdles that need to be overcome, and these will affect timeframes as well as user experience for investors. Mixing blockchain infrastructure with legacy systems is not straightforward, and this will likely affect early adopters, as well as the initial prevalence of liquidity.

Early investors will also need clearer guidance on regulation. There’s a need for crystal-clear guidance on token rights, as investors may face issues related to events such as dividends or voting. When introducing new technologies, it is also essential to take security very seriously. Cyberattacks have spiked 25% year-over-year, and we’ve all seen the high-profile cases related to blockchains. Though you would assume this would be a priority for Nasdaq.

All of these issues are solvable as far as I’m concerned. So I’m not too worried.

Q. Nasdaq has mentioned Europe’s trading of tokenized stocks is “raising concerns” because investors can access tokenized U.S. equities without actual shares in companies. How will Nasdaq’s proposal to offer “the same material rights and privileges as do traditional securities of an equivalent class” benefit investors?

Here, we’re talking about benefits that include access to the same rights as traditional securities — voting, dividends, and equity stakes. In Europe, investors have been able to acquire securities without full rights, which I view as similar to holding an exclusive non-fungible token (NFT) without gaining the membership benefits it grants. Imagine owning a Cryptopunk but not having access to the PunkDAO and the venture opportunities available to holders.

Nasdaq is essentially trying to prevent investors from getting shortchanged. This is a major benefit because you are not just getting access to a more dynamic but limited version of the asset — you’re still getting all of the perks. When I think of the potential here, it’s exciting — imagine fully fledged stocks with 24/7 trading, lower fees, and significantly shorter settlement times.

– Lynn Nguyen, CEO, Saros

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October 2, 2025 0 comments

GameFi Guides

Crypto Market Prediction: Bitcoin (BTC) to Rocket to $130,000? Shiba Inu (SHIB) Hits $0.000012 Breakout, XRP Breaks 5 Resistances in 1 Move

by admin October 2, 2025

Bitcoin, Shiba Inu and XRP are all showing bullish momentum: BTC has reclaimed key EMAs and targets $125,000-$130,000 if it holds above support; SHIB has broken $0.000012 with volume but must maintain strength to avoid retracing; and XRP has reset its outlook by clearing all major EMAs with resistance ahead at $3.00-$3.20.

Bitcoin is back

A recent strong rally that drove the price of Bitcoin (BTC) to $116,800 has put the cryptocurrency back in the public eye and sparked speculation about a possible breakout toward the $130,000 mark. Exponential moving averages (EMAs), which are frequently a sign of increased volatility and decisive actions, are convergent toward the current price, and the recent surge coincides with rapidly aligning technical indicators.

Bitcoin has reclaimed the 100 and 200 EMAs on the four-hour chart, breaking above significant short-term resistance with robust bullish momentum. An impending breakout is indicated by the 20 EMA and 50 EMA aligning near the price level, which further narrows the range. As the market builds pressure before releasing into a new trend, this compression of moving averages usually occurs before explosive moves.

Growing buyer conviction is reflected in the spike in trading volume, which supports the breakout potential. Additionally, momentum indicators show growing strength, and the RSI is above 68 and is approaching overbought territory without exhibiting any overt signs of exhaustion just yet. Bulls continue to hold a firm grip on the market as long as Bitcoin consolidates above $115,000.

If Bitcoin sustains its momentum and breaks through the $118,000 resistance level, the trajectory toward $125,000-$130,000 becomes more feasible. Nevertheless, traders should continue to exercise caution. Even though the technical picture is in favor of bulls, short-term pullbacks could be caused by overextended conditions.

The breakout attempt could be deemed invalid, and sellers could be invited back to the market if the price fails to hold above $113,000. For the time being, it is evident where Bitcoin is headed: EMAs are convergent, volatility is increasing and the stage is set for a possible skyrocketing that could push the price closer to $130,000.

Shiba Inu momentum back

In the short term, Shiba Inu has recovered its momentum, breaking through the $0.000012 level and displaying a robust green candle that suggests fresh buyer interest. The action follows SHIB’s successful break through the 50 EMA on the four-hour chart, a crucial dynamic resistance level that had been limiting price action for the previous two weeks. This technical milestone raises the possibility of an impending breakout.

Volume has increased significantly during the most recent push, suggesting that the rally is supported by real participation rather than just low liquidity. With an RSI of 66, the market is getting close to overbought but still has some upside potential before showing signs of exhaustion.

SHIB’s next obstacle, which is located close to the 100 and 200 EMA levels and grouped around $0.0000125-$0.0000130, is the break above short-term resistance. Still, prudence is necessary. Even with the breakout, SHIB is still trading inside a larger descending structure, and unless higher highs are set, the long-term trend is still bearish.

If momentum is not maintained above $0.0000120, SHIB may retrace and return to support in the range of $0.0000114-$0.0000118. Recent on-chain data, indicating notable declines in exchange reserves — a bullish signal that lessens possible selling pressure — has also influenced market sentiment regarding Shiba Inu.

But as previous rallies have shown, SHIB is still susceptible to steep declines if buyers are unable to maintain pressure.

XRP breaking through

In a single move, XRP broke through several resistance levels on the four-hour chart, putting on one of its best technical performances in weeks. The descending trendline that had restrained the token’s price action since mid-September was bypassed, along with the 20 EMA, 50 EMA, 100 EMA and 200 EMA. A wider recovery was made possible by this single decisive breakout, which broke through almost all of the short-term obstacles in its path.

With its current price around $2.95, XRP has essentially reset its technical outlook. The emphasis now moves to higher time frames, where the next significant obstacle is located between $3.00 and $3.05, since there are no significant obstacles remaining on shorter time frames. With momentum, XRP may move toward the larger descending channel resistance near $3.20 if bulls are able to secure a close above that zone.

This spike occurs at the beginning of Uptober, which is known for producing significant gains on the cryptocurrency market. With both Bitcoin and altcoins achieving above-average returns in previous cycles, October has frequently signaled the start of fourth-quarter rallies. The combination of XRP’s strong breakout and the seasonal effect raises the possibility that market sentiment is shifting in favor of additional upside.

Additionally, volume spikes on the breakout point to real market activity as opposed to a feeble short squeeze. With the four-hour chart’s RSI at 66, it is getting close to being overbought, but not yet overheated, allowing for further short-term momentum.

XRP is now poised for a possible trend reversal after overcoming weeks of consolidation. In keeping with October’s bullish undertones, the asset’s renewed strength is demonstrated by a clean break of five resistances in a single move. XRP might be about to embark on its next phase of recovery if Uptober goes as history predicts.

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October 2, 2025 0 comments

GameFi Guides

Bitcoin Miners’ Market Cap Soared in September to Record High

by admin October 2, 2025

In brief

The market cap of top Bitcoin miners is soaring.
Last month, the top public Bitcoin miners tracked by JP Morgan passed the $50 billion mark.
The surge comes as companies in the space pivot to high-powered computing.

The market cap of Bitcoin miners soared in September as firms in the space benefited from pivots to high-powered computing that feeds the burgeoning artificial intelligence sector, according to a report from JP Morgan.

Analysts at the banking giant highlighted the surge in a Wednesday report, noting that the combined value of the 14 top publicly traded miners it tracks passed $50 billion for the first time ever.

Top mining stocks this week have jumped in value with the price of the leading cryptocurrency, too, with Mara, Riot, and CleanSpark all up significantly over the week—and the past month. Those firms retreated slightly on Wednesday.

“Growth in aggregate market cap outpaced bitcoin price appreciation for the sixth consecutive month, as operators continue to diversify their businesses away from bitcoin mining towards HPC,” the report read.

The surge in market cap comes as miners look to high-powered computing to increase profits. Google last month announced it was backstopping a deal between AI compute company Fluidstack and Bitcoin miner Cipher, giving Google the right to buy a 5.4% stake in Cipher.

Bitcoin miners—typically industrial operations consisting of warehouses full of computers that work to secure the network—are rewarded in newly minted coins for processing blocks on the decentralized payment network.

But when the price of the biggest cryptocurrency drops, businesses may struggle to cover their costs.

Experts have told Decrypt that while both Bitcoin mining and running a data center to power AI businesses may appear similar, the pivot from crypto to HPC isn’t always easy and requires different expertise.

HIVE Digital’s stock is up nearly 9% over the past week, and has surged by 41% over the past month. Nasdaq-listed MARA has jumped by 8% this week and nearly 16% over a 30-day period.

CleanSpark, meanwhile, has spiked more over the past month, with its share price up over 51% over that period. This week, CLSK has risen by 4%.

Bitcoin was recently trading above $117,615, a nearly 3% 24-hour rise. It dropped below $107,000 per coin at the start of September, CoinGecko data shows.

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October 2, 2025 0 comments

Crypto Trends

Bitcoin Miners Hit $56B Market Cap Despite Falling Margins

by admin October 2, 2025

US-listed Bitcoin miners reached a combined $56 billion in market capitalization this September, according to a new report from JPMorgan. The 14 miners tracked by the bank saw their collective market cap rise 43% month-on-month, fueled by strategic expansions, renewable energy investments, and hosting partnerships like Cipher Mining’s HPC colocation deal with Fluidstack. Twelve of these companies outperformed Bitcoin itself during the month

The surge came as the Bitcoin network’s hashrate jumped 9% to 1,031 EH/s in September, marking a critical inflection point for the sector. Despite the valuation spike, profitability slipped: JPMorgan estimated daily block rewards fell 10% from August to $49,700 per EH/s, while gross profit dropped 17% year-over-year.

Still, miners like Bitfarms posted triple-digit stock gains, while IREN and Riot Platforms emphasized renewable power in Texas and Canada to offset rising energy costs and scale operations sustainably.

Miners shift from speculation to infrastructure

The $56 billion milestone echoes trends from early 2025, when U.S. Bitcoin miners posted record profits despite surging energy costs. JPMorgan’s Q1 analysis showed the top five earned $2 billion in gross profit with 53% margins, up from 50% in Q4, even as equity raises fell from $1.3 billion to just $310 million. That early profitability reinforced the idea that capital-intensive infrastructure can unlock long-term value.

Today, miners are less considered speculative BTC proxies and more as digital infrastructure operators bridging crypto with real-world energy markets. This shift mirrors rising institutional demand for tokenized assets and off-exchange collateral, as miners refine cost bases and embrace renewables.

Their balance sheets now resemble high-growth utilities, implying valuations may rise further, even amid margin pressure.

Also Read: BTC Digital Deploys 574 New Bitcoin Miners to Boost Hashrate

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October 2, 2025 0 comments

Crypto Trends

Prediction Market Polymarket Poised to Relaunch in US Within Days

by admin October 1, 2025

In brief

Polymarket is set to reopen to U.S. users, possibly as soon as tomorrow.
The relaunch comes nearly four years after being banned by the CFTC and after its $112 million acquisition of CFTC-licensed exchange QCX LLC.
The company has begun self-certifying event contracts including athletic events and election markets.

Prediction market Polymarket is set to reopen to U.S. users, nearly four years after being effectively banned by the CFTC, and could do so as soon as tomorrow, regulatory filings show.

Polymarket, which operates a cryptocurrency-based prediction market on the Polygon network, has begun self-certifying its own event contracts, flexing its authority to do so through the CFTC-licensed exchange it acquired in July.

Polymarket acquired QCX LLC, which is now doing business as Polymarket US, for $112 million. By acquiring the company, Polymarket gained a Designated Contract Market license that grants it the ability to self-certify markets available to U.S. users.

After the acquisition, Polymarket had to wait a few weeks for the CFTC to issue a no action letter to say that it would not pursue enforcement over alleged violations for “swap data reporting and recordkeeping regulations.” When that letter arrived the first week of September, Polymarket CEO Shayne Coplan said that was the company’s “green light to go live in the USA.”

Polymarket rose to prominence in the lead-up to the 2024 election, when users on the platform correctly predicted the reelection of President Donald Trump. Since then, prediction markets have caught fire, with both Polymarket and its largest competitor, Kalshi, pulling in hundreds of millions in weekly trading volume. More recently, Kalshi has pulled ahead in terms of market share, buoyed by its established presence in the U.S. through its own DCM license.

Now, Polymarket, DCM license in hand, is targeting those same coveted U.S.-based users, through regulated and self-certified markets.

Self-certification is the default way for CFTC-regulated firms to operate. Once a DCM holder submits a form explaining that its new market complies with all relevant law and regulations, the CFTC has one business day to object. If it doesn’t, the market can be listed right away.

But in this case, Polymarket US has explicitly said that the markets will be listed “no earlier than October 2, 2025.” The four filings include certifications for athletic event, athletic spread, and total athletic score contracts and election winner event contracts.

Polymarket did not immediately respond to a request for comment on its relaunch from Decrypt.

But the company’s CEO had plenty to say about the changing regulatory landscape in the U.S. during a D.C. panel on Monday. Coplan appeared on a joint Securities and Exchange Commission and Commodities Futures Trading Commission panel with executives from Cboe Global Markets, Nasdaq, Kalshi, and Kraken.

“I think that it’s pretty clear with this administration that we want the regulators to cultivate DeFi,” he said, referring to the sort of decentralized financial activity that takes place natively on blockchain networks without third-party intermediaries. He added the caveat that he thinks innovators know better than regulators how to build smart contracts—that is, the software that runs crypto applications—that will provide investor protections.

“I think that puts the onus on us and other players in the space to go and get inventive and come up with solutions that both embody the spirit of the rules that you see in traditional financial regulation with what’s capable of the technology,” Caplan added.

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October 1, 2025 0 comments

NFT Gaming

Ethereum Usage Skyrockets With Unprecedented Daily Transaction Growth Amid Market Fluctuations

by admin October 1, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Even though Ethereum’s price is currently experiencing a bearish move, the leading altcoin is still holding strongly above the $4,100 level. In the midst of this fluctuating price action, on-chain activities on the ETH network are sharply booming, as evidenced by a notable surge in transactions.

Sharp Boom In Ethereum Daily Transactions

The price of Ethereum is building underlying strength for a possible upward move, as well as the network’s performance. In the past few days, the network has experienced a powerful resurgence, with daily transactions reaching levels not seen in many years.

Darkfost, a market expert and author, reported that this sharp uptick in on-chain activity, underscoring a resurgence of investor interest, increased demand for decentralized apps, and a wider blockchain use across industries. It also indicates a growing sense of confidence in the ecosystem’s long-term scalability and value.

According to the expert, ETH is booming, and Decentralized Finance (DeFi) is now growing rapidly, with the network naturally finding itself at the hub of this ecosystem. As a result, the number of transactions on the network is surging and has recently broken out of a four-year range.

ETH active players are increasing | Source: Chart from Darkfost on X

It is worth noting that Ethereum’s daily transactions during the previous four years have been roughly between 900,000 and 1.2 million, using a 14-day SMA to reduce noise. When ETH experienced a significant amount of FUD during the most recent downturn in late March, the daily average was already around 1.2 million transactions.

Interestingly, this level was much higher than the number observed in January 2023, when the network barely reached 1 million transfers per day. However, the daily transaction count is hitting between 1.6 million and 1.7 million, marking the highest levels ever recorded on the Ethereum network.

Darkfost noted that Ethereum’s rise in transactions has a real correlation with its price. In the meantime, the expert points to the importance of monitoring this data because this is where the truth lies, which has benefited those who utilized the data.

ETH Funding Rates On A Downward Trend

Lately, investors’ sentiment appears to have flipped bearish as Funding Rates move into a negative territory. This shift in sentiment coincides with ETH prepping up for a rally, signaling cooling momentum among leveraged traders and raising questions about the current uptrend.

Crypto Summon revealed that Ethereum’s financing rates stayed negative throughout last week, which is similar to previous occasions. However, the market expert claims that the downward trend has stopped, and an ascending trend is emerging.

This development hints at a potential bottom in ETH’s price action. According to the expert, it is common for bottoms to coincide with times when investors are frightened and either wager on additional declines or pay premiums to protect themselves.

Current data from CoinMarketCap shows that ETH’s price has pulled back to $4,127, indicating a nearly 2% decrease in the last 24 hours. While its price has slightly dropped, its trading volume is also experiencing a bearish move, falling by more than 8% in the past day.

ETH trading at $4,149 on the 1D chart | Source: ETHUSDT on Tradingview.com

Featured image from Getty Images, chart from Tradingview.com

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October 1, 2025 0 comments

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Market Rallies, Altcoins Lead Gains; Zcash Hits 16-Month High

by admin October 1, 2025

The crypto market experienced a boost on Wednesday with majors bitcoin BTC$116,592.90 and ether ETH$4,005.03 rising 2.9% and 3.1% respectively.

But the real story was in the altcoin market as several tokens rose by double-digits as investors speculate on another phase of “atlcoin season.”

ZEC hit its highest point since May 2022 while a number of DeFi tokens also experienced moves to the upside.

The market uptick comes alongside a backdrop of the U.S. government shutdown, which has spurred gold prices to record highs and caused a sell-off in the dollar.

Derivatives Positioning

by Jacob Joseph

The BTC futures market continues to show a strengthening bullish bias. The overall futures open interest remains high at around $31.69 billion, reflecting sustained trader engagement, with Binance still leading the pack at $13.19 billion. Concurrently, the 3-month annualized basis is holding firm between 6% and 7%, indicating that the yield from the basis trade remains robust. This consistent metric across both open interest and basis suggests that traders are not only increasing their exposure but are doing so with conviction, reinforcing the positive sentiment observed in the market.
The BTC options market continues to show a divergence between its key metrics, presenting a complex picture of market sentiment. While the 25 Delta Skew for short-term options remains low, suggesting that traders are still willing to pay a premium for puts to hedge against downside risk, the 24-hour Put/Call Volume points to a surge in bullish speculation. The latest data shows that calls now make up 63.54% of the total volume, a strong reversal from a put-dominated market. This conflicting data indicates a highly polarized environment where some traders are hedging against potential price drops, while a larger number are actively betting on a short-term rally.
Funding rates have not only remained positive on major exchanges like Binance and OKX, but have picked up across the board, including on the historically volatile Hyperliquid. Deribit, in particular, is seeing a significant premium, with its annualized funding rate jumping to 17%. This indicates a strong and sustained demand for leveraged long positions, as traders are consistently willing to pay a high premium to hold their bullish bets. The widespread positive funding across all major platforms signals a collective market conviction in a continued upward trend for BTC.
Coinglass data shows $644 million in 24 hour liquidations, with a 38-62 split between longs and shorts. BTC ($166 million), ETH ($164 million) and Others ($69 million) were the leaders in terms of notional liquidations. Binance liquidation heatmap indicates $116,650 as a core liquidation level to monitor, in case of a price rise.

Token Talk

By Oliver Knight

Privacy token ZEC$59.70 is leading the pack on Wednesday, rising to its highest point since May 2022 following a break out against its bitcoin and dollar trading pairs.
ZEC touched $97.25 before retreating back to around $92.00 – a 41% rise for the day on the back of a 36% rise in daily trading volume to $300 million.
The surge comes alongside a boost across the wider altcoin market, with DeFi tokens ENA$0.5838, curve (CRV) and RAY$2.6577 all increasing by more than 8%.
A number of catalysts triggered the crypto recovery; notably the U.S. government shutdown that brought the dollar lower and gold to fresh record highs at $3,887.
Altcoins have outperformed bitcoin so far on Wednesday, although it’s worth noting that the average crypto relative strength index (RSI) is approaching overbought territory, suggesting that a period of consolidation is on the cards as the market begins to cool.
One market outlier was aster, the native token of its namesake’s BNB Chain-based perpetual exchange. ASTER slumped by 6.8% on Wednesday to compound a 25% decline over the past week as hype in the HyperLiquid rival begins to fade.

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October 1, 2025 0 comments

Crypto Trends

Bitcoin Blasts Past $116K as ‘Uptober’ Propels Crypto Market Cap to $4T

by admin October 1, 2025

In brief

Bitcoin has pushed above $116,000, tipping the total crypto market capitalization over the $4 trillion mark.
Analysts cited ETF flows, macroeconomic optimism, and a historically bullish fourth quarter trend as key drivers.
A sharp drop in the options skew shows traders are abandoning downside protection.

‘Uptober’ is off to a good start. Bitcoin surged past $116,000 Wednesday morning, erasing most of its losses from the past two weeks and propelling the total market capitalization of all cryptocurrencies to $4.09 trillion.

At time of publication, Bitcoin is trading at $116,441, up 3.1% on the day, per CoinGecko data.

The bullish momentum ignited a cascade of liquidations, wiping out roughly $60 million in short positions during the London session, according to Coinalyze data. The rally has also boosted Bitcoin’s year-to-date gains, climbing from 15% last Friday to 25% as of October 1.

Bitcoin’s dominance rebounded from 57% to 59% as the price broke through the $114,000 hurdle, which “suggests a healthier market structure,” Glassnode noted in an October 1 Telegram post. Based on their analysis, Bitcoin-led rallies are more sustainable than altcoin-driven uptrends.

On prediction market Myriad, launched by Decrypt’s parent company DASTAN, users put a 63% chance on Bitcoin dominance surging to 63% rather than dropping to 53%.

Bitcoin’s Q4 outlook

A confluence of factors is driving the uptick, experts told Decrypt.

Bitcoin’s rise stems from “structural demand, sustained exchange-traded fund flows, and a strong positioning from institutions,” Shawn Young, MEXC’s chief analyst, told Decrypt.

This optimism is further reflected in options data. A 55% decline in Bitcoin’s 25 delta skew signals a significant decrease in demand for downside protection, reflecting growing investor confidence.

“Traders may be anticipating a bullish fourth quarter for crypto,” Derek Lim, head of research at Caladan, told Decrypt, suggesting this may be becoming a self-fulfilling prophecy.

Over the past 12 years, the fourth quarter has consistently returned a median gain of more than 50% for Bitcoin, per Coinglass data.

Broad macroeconomic conditions are also being interpreted optimistically by the market, according to Lim. He noted that the U.S. government shutdown, the subsequent pause in data releases, and the Fed’s dovish stance are creating a favorable environment.

The slight decline in the S&P 500 during today’s electronic trading hours amid Bitcoin’s uptick suggests a potential capital rotation into crypto, Lim added.

Indeed, predictors on Myriad have turned markedly more bullish on Bitcoin’s price outlook, placing a chance of over 65% on it topping $125,000 rather than dropping to $105,000—up from just 53% the day before.

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October 1, 2025 0 comments

Crypto Trends

Tron Inc. Shares Tumble 85% From June Peak Amid DAT Market Slump

by admin October 1, 2025

In brief

Tron Inc. stock has fallen 85% since June, part of a broader downturn for crypto-linked public companies.
MSTR, BMNR, and the majority of publicly listed treasury companies are down double digits from their three-month peaks.
This sell-off is a digital asset treasury trend, not a problem unique to any single firm, experts told Decrypt.

Tron Inc., a TRX treasury company, has been on a sustained downtrend since its mid-June peak.

The Nasdaq-listed toy and souvenir manufacturer is down 85% from its June 20 peak of $12.80, according to TradingView data. In September alone, the company witnessed a 55% decline.

“The hype is deflating,” Peter Chung, head of research at Presto Research, told Decrypt.

Chung noted that it is common for hype and frenzy to take over when a new meta is introduced, leading to outsized gains. As cooler heads prevail, the asset tends to find a stable footing, leading to a decline in its valuation.

“This year it happened with Circle IPO, and is happening with DATs,” he explained.

“It’s not just Tron,” Czhang Lin, head of LBank Labs, told Decrypt. “Many firms in the space are navigating similar headwinds.”

Tron Inc., which was listed on Nasdaq on July 24 through a reverse merger with SRM Entertainment, is not the only crypto treasury company facing a slump.

Stephen Gregory, founder of crypto trading platform Vtrader, told Decrypt that the recent drop in crypto treasury companies was a result of “bad execution” and “rushing to the market” without “fully fleshing out” their strategy.

Gregory noted that the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority’s investigation involving 200 firms for suspicious stock trades preceding crypto treasury announcements is also part of the reason why the stock prices of crypto-linked companies are dropping.

Bitcoin treasury company MicroStrategy (MSTR) is down roughly 30% in the last three months, while Ethereum treasury company Bitmine Immersion Technologies Inc. has also shed 67% over the same period.

Justin Sun, who serves as an adviser to Tron Inc. and is the founder of TRON, has long been at the center of speculation and allegations, from his early ICO days in China to a recent run-in with U.S. law enforcement for allegedly selling unregistered securities related to TRON and BitTorrent.

Despite navigating regulatory challenges, Sun’s recent actions involving the Trump-family-linked World Liberty Financial project have had an immediate impact.

After WLFI’s token generation event on September 1, Sun claimed 600 million tokens and moved 9 million to the HTX exchange, which he alleged were “routine tests and address splits,” without any intention to sell.

The move prompted the WLFI project to freeze Sun’s remaining 591 million unlocked tokens.

TRX is down nearly 1% in the past 24 hours and is currently trading at $0.33, with a market capitalization of $31.56 billion, making it the tenth-largest crypto in the industry.

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October 1, 2025 0 comments

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Crypto Market Prediction: XRP Should Not Celebrate Too Early, Did Ethereum (ETH) Secure $4,200? This Is Bitcoin’s (BTC) $113,000 Chance

by admin October 1, 2025

The market is trying to avoid entering a prolonged downtrend and is fighting back. With Bitcoin smashing through the 50 EMA, XRP is trying to recover but failing for now, and Ethereum hitting $4,200, with solid volume growth.

Bitcoin fights back

After a period of erratic trading and downward pressure, Bitcoin has successfully pushed back above a critical level, regaining $113,000. This move occurs as Bitcoin surpasses its 50-day EMA, a dynamic resistance that has frequently held back price action in September.

Although the breakout is a good technical development, it is still unclear if Bitcoin will be able to sustain these gains. Bitcoin’s continuous struggle in a midterm consolidation zone is highlighted by the daily chart. Buyers intervened to protect the 100-day EMA after the market had dropped to about $111,000 earlier this week, which led to a dramatic recovery.

BTC/USDT Chart by TradingView

The 50 EMA’s successful recovery points to fresh bullish momentum, but the overhead supply is still high between $113,000 and $115,000, the starting point of earlier breakdowns. The rally has seen moderate volume, lacking the bursts of inflows typically seen during long-term breakouts. This makes it more likely that Bitcoin will be rejected at the current levels once more and fall back toward the $111,000-$112,000 range.

Bitcoin would need to clear the September swing highs around $118,000, in addition to maintaining above the 50 EMA, for a more robust bullish confirmation. This uncertainty is reflected in momentum indicators. The RSI, which is neutral and allows for movement in either direction, is at about 50.

Upward targets in the near term point toward $115,000 and $118,000, if bulls continue to exert pressure and consolidate above $113,000. On the downside, if the 50 EMA is not maintained, there may be a quick retest of the 100 EMA and, in a more severe correction, the 200 EMA close to $106,500.

Bulls now have the upper hand again, as Bitcoin has reclaimed a significant resistance zone at $113,000. However, the market may just as easily experience another retracement before attempting a more definitive breakout, given the low volume and resistance above.

XRP secures recovery

Although XRP has recovered from its September lows around $2.80, the recovery is already beginning to show signs of weakness. The token is having difficulty breaking through a significant technical barrier, the 26-day EMA, which is still acting as overhead resistance despite bulls’ optimism following the rebound. The recent upward push runs the risk of being little more than a brief relief rally if there is not a clear break above this level.

The issue is evident on the daily chart. XRP tried to rise higher after retesting the 100-day EMA as support, but the rally halted as soon as the price hit the 26 EMA. The short-term momentum is often determined by this moving average, and XRP’s failure to break through it indicates weakened buying pressure. Additionally, volume has been quiet during the recent rebound, not indicating that there was strong conviction behind the move.

XRP/USDT Chart by TradingView

To make matters more cautious, the overall structure of XRP continues to show a downward trendline that has capped each rally since the middle of July. Upward targets like $3.00-$3.10 are still out of reach until bulls decisively break through the trendline and the 26 EMA. The 200-day EMA at $2.61, the next significant support zone, could be reached by XRP if it is unable to maintain above $2.80.

Momentum indicators range from neutral to marginally pessimistic. Since the RSI is at 46 and does not appear to be oversold, there is potential for additional declines if sellers take advantage of the situation.

Ethereum’s attempt

Ethereum has recovered somewhat, returning to $4,200 following a decline to the $3,800 region last week. Bulls are somewhat reassured by the rebound, but the move’s momentum is not very strong. Technical indicators show that ETH might be running into significant resistance, which could prevent further gains.

The way that Ethereum interacts with the 26-day EMA is the most pressing problem. ETH tried to regain this short-term moving average following the recent rebound, but it was canceled at the 26 EMA, indicating a lack of short-term momentum. The market runs the risk of rolling over once more in the direction of deeper support zones unless ETH can maintain a firm close above this level.

Volume is another warning sign. Trading volume has been steadily declining despite the price recovery, indicating a thinning of participation. Usually, strong recoveries need growing volume to validate buyer conviction. The absence of volume expansion, in ETH’s case, suggests hesitancy and casts doubt on the viability of the current rally.

Ethereum is still capped on the daily chart by a descending triangle pattern made up of strong horizontal support and lower highs. Despite not fully collapsing, ETH’s inability to overcome the $4,400-$4,500 resistance cluster keeps bulls on edge. Because it is in neutral territory and does not exhibit any overbought or oversold signals, the RSI at 45 reflects this uncertainty.

To boost confidence in the near future, ETH needs to push volume higher and reclaim the 26 EMA. An additional retracement toward the 100-day EMA at $3,870, or in a bearish scenario even the 200-day EMA close to $3,620, could result from failing to do so.

Ethereum’s recovery to $4,200 is currently not a complete bullish reversal but rather a cautious one. ETH might be vulnerable in the upcoming sessions if there is not more buying interest and a clear break above resistance.

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October 1, 2025 0 comments