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Traditional finance, or TradFi, assets accounted for a larger share of trading volume than crypto on decentralized perpetual futures exchange Variational, crypto analyst Tom Wan said on X. Over the past 30 days, 62% of Variational’s total trading volume came from TradFi assets, while crypto made up 38%. Around 90% of TradFi volume came from swap products. Variational currently supports more than 150 trading markets tied to TradFi assets. Wan described the trend as an example of rapid growth in the on-chain TradFi market.

Crypto-related stocks were mixed ahead of the U.S. market open, according to BIT(bit.com) price data. Strategy (MSTR) fell 0.75%, Strive (ASST) dropped 1.56%, Circle (CRCL) declined 1.24%, and Coinbase (COIN) slipped 0.69%. In contrast, SharpLink Gaming (SBET) rose 0.10% and Robinhood (HOOD) gained 0.16%.

Cardano community group Intersect has returned 115,172 ADA in unused funds from last year’s Cardano Product Committee budget, worth $23,500, to the network treasury, The Crypto Basic reported. Intersect sent the funds back on Oct. 20-21 using the fund return function of the Treasury Reserve Smart Contract, or TRSC. It was the first time Intersect had used the feature on mainnet, confirming that unspent funds from approved budgets can be recovered to the treasury.

Liquid staking protocol Marinade said Alpenglow’s Agave 4.3.2 node has been skipping about half of the first leader window slots in each epoch. The fix has been merged but has not yet been deployed. Until the deployment, Protected Staking Rewards (PSR) will not impose validator bond charges for those slots, and the Stake Auction Marketplace (SAM) will also exclude those slots from uptime calculations. Marinade said the client bug is not the fault of validators themselves.

The spot CVD chart is an order-book analysis chart for the BTC/USDT spot trading pair, with the upper panel showing the volume heatmap and the lower panel showing cumulative volume delta, or CVD. - The volume heatmap in the upper panel tracks trading volume by price range. The background color becomes brighter when the price stays in a specific range for an extended period or moves sharply. Brighter zones may act as support or resistance. - The CVD indicator in the lower panel reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color moves higher. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Strategy will hold a special shareholders’ meeting on Oct. 28 to vote on introducing daily dividend accruals for preferred shares including STRC, Bitcoin.com reported. Approval requires majority support from the voting rights attached to all outstanding common shares, while abstentions or uncast votes are effectively treated as votes against. Michael Saylor, Strategy’s founder, holds 32.9% of total voting rights, meaning the proposal needs about 17 additional percentage points of support to pass. If approved, STRC holders will begin accruing daily dividends in November based on a 12% annual dividend rate. The total November dividend will be $1 per share, with actual payments made on the business day after each dividend record date.

HYBE, the agency behind BTS, has decided to transfer all 861,004 shares of Dunamu it holds, equal to a 2.47% stake, to its U.S. subsidiary HYBE America, according to a filing the company submitted today. The stake was valued at about 378.2 billion won ($271.3 million) in the transfer. Sports Kyunghyang reported HYBE had bought the entire stake about five years ago for around 500 billion won, while the digital goods service the company had pushed at the time has already shut down.

A DEF-Ipsos survey found 35% of Americans wanted election candidates who support next-generation financial technology, but that figure fell to 13% when blockchain, cryptocurrency and DeFi were mentioned specifically, Crypto in America host Eleanor Terrett said. The survey also found 74% said the financial system should be changed to give individuals more freedom to manage their money and assets, while only 9% said they were familiar with cryptocurrency and just 5% said they largely or fully trust decentralized platforms. Terrett said public perceptions of cryptocurrency remain poor and there is still a long way to go in proving real utility to everyday Americans.

The crypto market may be preparing for its next upswing, according to a CryptoQuant analysis by contributor Crypto Dan. Crypto Dan said strong Bitcoin price gains have typically followed a shift in the share of total BTC supply held for more than 18 months from an uptrend to a decline, adding that changes in the proportion of long-term holdings could serve as an indicator for a bullish turn in the BTC market. Crypto Dan added, however, that past patterns do not guarantee future price gains.

Polymarket has investigated dozens of bets tied to the Nov. 3 U.S. midterm elections and referred at least two of those cases to the U.S. Commodity Futures Trading Commission, NPR reported. Shana Bautista, Polymarket’s head of global intelligence and investigations, said the platform is operating a 16-member investigations team and a new surveillance system ahead of the Nov. 3 midterms to monitor insider trading and market manipulation. Bautista said the system analyzes data from social media, the Federal Election Commission, crypto firms and partner banks, and receives hundreds of unusual-trading alerts each day. Bautista added that when patterns emerge such as the rapid creation of multiple accounts for concentrated trading or the use of several new wallets on the same device, the findings are fed back into the detection system.

Stablecoin payment infrastructure provider Interlace said on X it has entered into a partnership with cryptocurrency exchange Echobit. Through the collaboration, Interlace will use its card issuance API to provide stablecoin payment cards and customized ceramic cards on the Echobit platform.

Binance has applied to Brazil’s central bank for a license to continue operating its cryptocurrency business in the country, Cointelegraph reported. Brazil requires existing operators to submit license applications by Oct. 30. In line with local regulations, Binance will restrict some services, including crypto lending and margin trading, starting today, and will also delist 22 cryptocurrencies.

Bitcoin hybrid layer-2 network BOB said support for oUSDT on the BOB network is scheduled to end on Oct. 31. Holders of the asset must transfer it through a bridge by that date.

A brutal year is beginning for Bitcoin, U.S. Silicon Valley angel investor Jason Calacanis said on X, arguing spot ETF net outflows are only a signal and will continue. Calacanis said BTC will retest its $57,000 low within the next year, citing more opportunities to invest in assets he sees as creating greater value, Bitcoin’s network offering little beyond a store of value, and the disappearance of people, memes, and NFTs that once persuaded others to buy BTC. Calacanis added nobody now says BTC can change the world because it cannot, and argued AI has done that instead. He urged investors to sell BTC immediately and switch to AI, saying BTC creates little or no value while AI offers unlimited potential for humanity, and predicted Bitcoin will never break its all-time high again. Calacanis also questioned Bitcoin’s price in April and July. He is known as an early investor in Uber and Robinhood and has more than 1.8 million followers on X.

Whale Alert reported that 6,325 BTC has been transferred from Binance to an unknown wallet. The transaction is valued at about $504 million.

Financial strains at AI companies could also weigh on the crypto market, including BTC, CoinDesk said in an analysis. The outlet said the AI industry has been one of the key drivers of risk-asset sentiment, including for BTC, since late 2022, and rising financial risks among AI-related companies could ripple into crypto as well. According to CoinDesk, concern over AI companies' ability to repay debt has recently intensified, with credit default swap trading surging as investors hedge against default risk. Justin Bimonte of JPMorgan Private Bank said rising CDS prices do not necessarily mean a crisis is imminent, but they are a warning sign for risk. Unlike large AI companies with solid cash flow, some debt-reliant firms are now facing a significantly higher risk of default, Bimonte said.

Layer-1 blockchain Initia (INIT) said it has completed a patch for a security vulnerability identified on Oct. 23 and is now undergoing audits by its security partners. Once the audits are complete, Initia plans to share detailed steps for restoring affected assets and resuming normal operations on the Initia L1 and rollup networks. The process is expected to be completed within days.

Whale Alert reported that 5,000 BTC has been transferred from Binance to an unknown wallet. The transaction is valued at about $399 million.

South Korea’s Democratic Party and the government are expected to discuss delaying the planned January implementation of taxation on virtual assets, also referred to as digital assets, at a policy coordination meeting on Oct. 28, Digital Asset reported. The report came after opinions were raised at the Democratic Party’s general meeting that the tax, scheduled to take effect in January next year, should be postponed. Hwang Jong-seop, an aide in the office of Democratic Party lawmaker Kim Han-kyu, said a party-government meeting is set to be held tomorrow and the issue of delaying digital asset taxation is also expected to be on the agenda, according to the report.

Firedancer’s development team has changed its rules to require users to burn one SOL for each bug report in an effort to curb indiscriminate submissions, CoinDesk reported. Firedancer, software developed by Jump Crypto, is used to validate and process Solana transactions. Under the new policy, a reporter becomes eligible for a bug bounty only after burning one SOL, and the burned token will not be returned even if the submission is duplicate or invalid. The move comes as a surge in bug reports generated with artificial intelligence has made it harder to verify genuine vulnerabilities. Jump Crypto also decided to double rewards for eligible bug reports through Nov. 20 and to pay triple rewards for bugs tied to Alpenglow, Solana’s new voting system, according to the report.

Binance announced it will delist 10 cross-margin trading pairs at 6:00 a.m. UTC on Oct. 30: RE/USD1, 币安人生/U, KAT/U, BTC/USDS, ETH/USDS, AVNT/U, FET/U, TRUMP/U, APT/U and WLFI/U.

South Korean exchange Bithumb announced it will temporarily suspend HBAR deposits and withdrawals starting at 11:00 a.m. UTC on Oct. 28 to support the Hedera network upgrade.

Matthew Driver, head of services for Asia-Pacific at global payments company Mastercard, said faster stablecoin payments require infrastructure to support conversions between fiat currencies and stablecoins. In an interview with CNBC, Driver said stablecoins could be useful for some cross-border remittance corridors and thinly traded currency pairs, but if conversions between fiat and stablecoins are slow, faster blockchain transfers in the middle of the process may not improve overall payment speeds. Driver added that in markets where retail payment systems are already efficient, such as Singapore, stablecoins may have greater potential in business payments than in consumer payments.

Ethereum developers fixed a flaw in the Glamsterdam upgrade that could have allowed validator deposits to be credited to a builder, CoinDesk reported. According to Ethereum researcher avsetsin, the issue could arise if an operator registered as a builder with a specific public key and a staking service then deposited ETH to launch a validator using the same key, causing both deposits to be credited to the builder. Avsetsin said the finding involved conditional code, with no confirmed real-world exploitation and no reported losses. Glamsterdam is now live on the Sepolia testnet, while deployment on the Hoodi testnet has been delayed once. The upgrade aims to improve block production, state growth and execution limits while laying the groundwork for expanding Layer 1 capacity.

South Korean exchange Upbit announced the addition of NIL, Nilion, for KRW trading at 7:40 a.m. UTC today.