According to The Verge, Elon Musk's X platform will launch an "X Handle Marketplace" for Premium Plus and Premium Business users, allowing them to browse and request unused usernames. Usernames are divided into two categories: Priority (free, including names, phrases, or alphanumeric combinations) and Rare (paid, ranging from approximately $2,500 to over seven figures, depending on demand and uniqueness). After successfully changing your username, the old username will be frozen; downgrading your subscription will automatically restore your original username. Officials have stated that a paid redirection feature may be available in the future.
Hex founder Richard Heart transferred 81,000 ETH in the past 5 hours
According to Ember, addresses suspected to be associated with Richard Heart, founder of projects like Hex, PulseChain, and PulseX, have transferred 81,000 ETH (approximately $323 million) in the past five hours. This group of addresses previously purchased 132,000 ETH on-chain in March 2023 using 499 million DAI at an average price of approximately $3,770. With the exception of 9,500 ETH transferred via Tornado Cash over the past six months, the remaining ETH remains in their possession.
He Yi: The Tongzhou Plan is not compensation, but relief funds. Beware of being deceived.
Binance co-founder He Yi issued a clarification on the X platform: 1. The Tongzhou Plan is a relief fund, not compensation; it's intended to provide food security for struggling users. 2. The Tongzhou Plan targets a limited number of users whose losses exceed 30% of their total assets. 3. For users affected by the three depegged trading pairs, compensation has already been issued. We will shoulder the responsibility for any issues, but we regret any losses caused by market volatility. 4. If you believe you are receiving compensation or are not covered by the subsidy announcement, you can contact customer service for review. Users who incite legal action to threaten the platform will not be eligible for relief funds due to normal losses. Due to the large user base, we will review all user details after one week. 5. Currently, many cases of manipulation of user emotions, false claims of legal action, and requests for financial assistance have been verified as fraudulent. Beware of scams.
The one-year and five-year LPRs remain unchanged.
The People's Bank of China kept the one-year and five-year loan prime rates (LPR) unchanged at 3% and 3.5%, respectively.
Vitalik Buterin's latest article details how the Goldreich–Kahan–Rothblum (GKR) protocol is used to accelerate ZK proofs. Adapting to a "batch × multi-layer" computational structure, it significantly reduces intermediate commitments, requiring only input and output commitments. Using the Poseidon2 hash as an example, the article details a recursive proof process centered around sumcheck and offers optimizations (Gruen's trick, linear batching, and only the first element of the cube in some rounds). This can be combined with BaseFold or FRI in polynomial commitment scenarios. The author claims that the actual overhead is approximately 100 times lower than the theoretical value of traditional STARKs, with single-digit overhead expected. He also cautions against the risk of in-circuit predictability in the Fiat–Shamir challenge.
According to CryptoSlate, the Mt. Gox trustee must complete a three-stage process of repaying Bitcoin creditors: basic repayment, early lump-sum repayment, and interim repayments by October 31st. Currently, approximately 34,689 BTC remain in associated wallets. Bitcoin and Bitcoin Cash were distributed via Bitstamp, Kraken, or in cash, with some held in custody by BitGo. Historical data shows that approximately 64.1% of the funds were deposited into exchanges. If applied to the remaining balance, a worst-case scenario would see approximately 22,253 BTC simultaneously deposited, potentially creating approximately $2.4 billion in selling pressure. Kraken and Bitstamp have processing windows of up to 90 and 60 days, respectively. Actual deposits will be staggered and may also bypass order books through custody or over-the-counter (OTC) channels.
According to The Data Nerd, whales appear to be accumulating LINK, with several addresses withdrawing 892,460 LINK from Binance in the past 12 hours, worth approximately $15 million. Furthermore, 2.31 million LINK was withdrawn from Binance over the past week, worth approximately $40.76 million.
According to Onchain Lens monitoring, a newly created wallet withdrew 4 million USDC from Coinbase in the past two days and opened a 10x leveraged ENA short position and a 15x leveraged ETH short position, with a current floating loss of US$1.44 million.
Analysis: ETH may continue its rebound momentum and hit $4,500 before the end of October
According to Cointelegraph, some market indicators suggest that Ethereum could continue its rebound and reach $4,500 by the end of October. ETH currently appears to be forming a bullish flag pattern, a trend that typically signals a continuation of the upward trend after a brief period of consolidation. Furthermore, ETH prices have remained largely above the weekly bull market support band, suggesting a potential breakout above the upper limit of the channel, $4,450-4,500. A breakout could potentially push the price to $5,200 by November. However, if ETH falls below the lower boundary of the bullish flag pattern at $3,550, it could face further declines.
According to on-chain analyst Aiyi, a mysterious whale with a $220 million long position in BTC and ETH has increased its holdings to $250 million. This increase is primarily in BTC, while ETH holdings remain unchanged. Thanks to their continued efforts, their overall floating loss has narrowed to $3.12 million. A 15x long position in BTC holds 1,610.93 coins (US$173 million) at an opening price of $108,043.9; a 3x long position in ETH holds 19,894.21 coins (US$77.42 million) at an opening price of $4,037.43.
Token Unlocks data shows that tokens such as ZRO, XPL, and MBG will usher in large-scale unlocking next week. Among them: LayerZero (ZRO) will unlock approximately 25.71 million tokens at 7:00 pm Beijing time on October 20, accounting for 7.86% of the current circulation and worth approximately US$44.2 million; Plasma (XPL) will unlock approximately 88.89 million tokens at 8:00 pm Beijing time on October 25, accounting for 4.97% of the current circulation and worth approximately US$36.9 million; MBG (MBG) will unlock approximately 15.84 million tokens at 8:00 pm Beijing time on October 22, accounting for 11.97% of the current circulation and worth approximately US$17.1 million; Scroll (SCR) will unlock approximately 82.5 million tokens at 8:00 am Beijing time on October 22, accounting for 43.42% of the current circulation and worth approximately US$14.4 million. SOON (SOON) will unlock approximately 15.21 million tokens at 4:30 PM Beijing time on October 23rd, accounting for 4.52% of the current circulating supply and valued at approximately US$12.8 million; KAITO (KAITO) will unlock approximately 8.35 million tokens at 8:00 PM Beijing time on October 20th, accounting for 3.06% of the current circulating supply and valued at approximately US$8.7 million; Humanity (H) will unlock approximately 62.5 million tokens at 8:00 AM Beijing time on October 25th, accounting for 3.01% of the current circulating supply and valued at approximately US$7.3 million; Venom (VENOM) will unlock approximately 59.26 million tokens at 4:00 PM Beijing time on October 25th, accounting for 2.23% of the current circulating supply and valued at approximately US$6.2 million.
Twitter co-founder Jack Dorsey: Bitcoin is not a cryptocurrency, it is currency
Jack Dorsey, co-founder of Twitter (renamed X after being acquired by Musk), posted: Bitcoin is not crypto. Bitcoin is money.
Michael Saylor once again released Tracker information on the X platform. He wrote: “The most important orange dot is often always the next dot,” which means that Strategy may disclose Bitcoin increase data next week.
According to a post by on-chain analyst MLM on the X platform, multiple wallet clusters associated with HYPE are suspected to be controlled by the same entity or individual, involving a total of 12.26 million HYPE tokens, and closely align with the activities of the well-known on-chain whale Technorevenant. Currently, the relevant wallets still hold approximately 9.59 million HYPE (approximately $347 million), of which 2.56 million have been unlocked, and the remainder is staked. Meanwhile, Technorevenant also holds approximately 1.42 million HYPE (approximately $51.4 million) in DeFi protocols on HyperEVM, using this as collateral to borrow 17.7 million USDT0. Analysis shows that these wallets have exhibited consistent transaction times, execution patterns, and protocol usage habits over the past period. Some wallet clusters have established large Aster hedging positions on Hyperliquid, which coincided with the HYPE sell-off. If Technorevenant's registered wallets are included, its total HYPE holdings reached 14.66 million (peak value approximately $870 million) at one point, before subsequently reducing their holdings in batches. Several wallets involved in the HYPE sell-off shared API key signatures with other Technorevenant addresses, and their transaction execution patterns were nearly identical. This led to speculation that these wallets were likely controlled by the same individual or group.
Ethereum co-founder Vitalik Buterin previously expressed his hope that more developers working on ZK and FHE would express performance as a ratio, rather than operations per second. In response, some community users questioned how to ensure hardware independence and pointed out that closing the gap between C and FHE(C) would require expensive, specialized FHE hardware. In response, Vitalik Buterin suggested that publicly available hardware could be used, and that the geometric mean of the capital expenditure dollars per operations per second and the joules per operation for both the encrypted and raw computations would be a reasonable first-pass metric.
The short position of the address associated with Andrew Kang has increased to $77.97 million
According to on-chain analyst Ai Yi's monitoring, the short positions of Andrew Kang's associated address have increased to 77.97 million US dollars, including 46.86 million US dollars in ETH short positions and 31.14 million US dollars in BTC short positions. These two positions have a floating loss of 990,000 US dollars, but his ENA long positions have a floating profit of 2.97 million yuan.
According to a post by BMNRBullz on the X platform, on-chain monitoring data indicates that Tom Lee's Ethereum treasury company, BitMine, has accumulated 379,271 ETH, worth approximately $1.5 billion, through three purchases since the "October 11th crash" last weekend. Tom Lee, who once claimed that "Ethereum will become the backbone of the digital economy," stated in an interview with CNBC after the close of trading on Friday that crypto investors are still "licking their wounds" in response to record leverage shocks, but stated that this is not the peak of the cycle, but rather a short-term bottom and will strive to recover.
According to Caixin.com, Minsheng Securities macroeconomic analyst Shao Xiang stated that Bitcoin could have been a significant competitor to gold in the fiat currency era, but its continued high speculative nature has led to a recent significant pullback. Bloomberg investment columnist John Authers noted that the performance of gold and Bitcoin has diverged significantly during two recent periods of market stress (one in April and the other in recent days). During these periods, gold prices remained stable or even rose, while Bitcoin plummeted. This suggests that when risk events strike, the market still classifies Bitcoin as a "risk asset," while gold is considered a "safe haven."
X will soon launch the Handle Marketplace, an account ID trading market.
X has launched the Handle Marketplace, a marketplace for reassigning unused handles. Eligible Premium subscribers will be able to search and submit requests, with both free and paid options available. This feature is reportedly coming soon, and you can join the waitlist now.
Hong Kong Financial Secretary Paul Chan Mo-po published an essay entitled "From New York to Washington", in which he pointed out that when he attended the annual meetings of the International Monetary Fund and the World Bank Group, members of various economies realized that the influence of digital assets is expanding rapidly, and related blockchain technologies also have many application scenarios in reality, especially in promoting regional trade and solving cross-border settlement efficiency and pain points. Among them, digital assets such as stablecoins have considerable development potential. International cooperation should be strengthened to prudently control the risks they bring to the stability of the financial system.
According to MLM monitoring, a newly created wallet withdrew $3 million in USDC from KuCoin in the past two days, deposited it into Hyperliquid, and opened long orders for ENA worth $41 million in two wallets, while shorting $20 million in ETH and $22 million in BTC.
According to on-chain analyst Ai Yi's monitoring, Andrew Kang's associated address has turned from long to short again. This is his second change in three days. He has currently opened a 25x leveraged short position for 10,275.86 ETH and a 40x leveraged short position for 269.53 BTC, with a total value of US$68.24 million. The account has made a profit of US$5.6 million in the past week.
In the latest issue of his essays, Hong Kong Financial Secretary Paul Chan Mo-po pointed out that during the annual meetings of the International Monetary Fund and the World Bank Group, members of various economies recognized that the influence of digital assets is expanding rapidly, and related blockchain technologies also have many application scenarios in reality, especially in promoting intra-regional trade and solving cross-border settlement efficiency and pain points. Among them, digital assets such as stablecoins have considerable development potential. International cooperation should be strengthened to prudently control the risks they bring to the stability of the financial system.
A newly created wallet withdrew 142,428 LINK from Binance, worth $2.4 million
According to Onchain Lens, a newly created wallet withdrew 142,428 LINK from Binance, worth US$2.4 million.
According to Jiemian News, Shanghai has released several innovative blockchain applications, highlighting areas such as shipping and trade, finance, and social governance. In the shipping and trade sector, these applications serve as a key component of international exchange and the Belt and Road Initiative. Weng Yicong, Deputy Director and Party Member of the Shanghai Municipal Data Bureau, emphasized that the bureau is establishing a digital business enterprise incubation pool. Through in-depth exploration and tiered cultivation, the bureau will strengthen multi-dimensional data security, scenario provision, and investment and financing services, specifically supporting a group of benchmark companies. The bureau hopes to attract more outstanding digital innovation companies to join the blockchain ecosystem and jointly create the "dividends of the era" of the digital economy.
