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The number of stablecoin holder addresses worldwide has surpassed 300 million for the first time, Unfolded said. The Ethereum ecosystem accounted for 37% of the total, up eight percentage points from 29% two years earlier. Around 75% of stablecoin holder addresses within the Ethereum ecosystem were on layer-2 networks.

Bernstein expects prediction market revenue at Robinhood, the U.S. stock and cryptocurrency trading platform listed on Nasdaq under HOOD, to reach $1.7 billion in 2028, surpassing its projected crypto-related revenue of $1.6 billion, according to Cointelegraph. In a report, Bernstein projected Robinhood’s prediction market revenue will grow from about $650 million this year to account for roughly 18% of its total 2028 revenue forecast of $9.4 billion. It kept its price target unchanged at $160.

Cryptocurrency and investment firms linked to U.S. President Donald Trump’s family are hiring lawyers and lobbyists as they prepare for possible congressional investigations after the midterm elections, Bloomberg reported. Democratic lawmakers are currently seeking documents from World Liberty Financial (WLFI) and venture capital firm 1789 Capital as they examine possible preferential treatment and conflicts of interest in the awarding of government contracts. Even if Democrats win a congressional majority in the midterms, compelling overseas officials to provide materials and securing follow-up action from federal agencies including the Justice Department could hinder the inquiries. The companies involved and the Trump family maintain their business activities comply with regulations.

The three major U.S. stock indices opened higher today. - S&P 500: +0.25% - Nasdaq: +0.28% - Dow Jones: +0.2%

AI-computing-focused layer-one network Qubic said it has provided an update on fund recovery following a recent security incident involving vulnerable wallet recovery seeds. Funds drained from the Qubic network during the breach are being returned on-chain to their original addresses, Qubic said. CoinNess reported on Oct. 19 that attackers exploited a vulnerability in wallet recovery seed generation on older Apple software and browsers at Qubic, stealing 294 trillion QU worth about $1.3 million from 1,404 wallets.

Global asset manager Franklin Templeton is preparing to launch an ETF, FBEQ, that would automatically reinvest dividends from 500 large-cap U.S. stocks into Bitcoin, CoinDesk reported. The product would initially allocate 5% of assets to BTC and then gradually increase its Bitcoin exposure by reinvesting stock dividends.

Elysium, a new Layer 2 network being developed by Hyperliquid ecosystem-based liquid staking protocol Kinetiq, plans to integrate Uniswap’s decentralized trading infrastructure on-chain, Crypto Briefing reported. Built on Arbitrum Orbit, Elysium is a high-speed Layer 2 blockchain focused on trading, using HyperEVM technology and HYPE as its gas token. The network is targeting block times of 100-200 milliseconds and throughput of around 300 Mgas per second. Uniswap smart contracts could serve as a core part of Elysium’s trading infrastructure. No detailed launch timeline or roadmap has been disclosed.

S&P Global said today it has completed its acquisition of onchain security firm OpenZeppelin on a stated date. The deal is intended to expand S&P Global’s risk assessment capabilities in digital assets into onchain technology risk, and the two companies plan to strengthen smart contract security assessments and risk analysis related to onchain finance. OpenZeppelin will retain its existing name as a standalone business unit, with founder Demian Brener continuing to lead the business. OpenZeppelin Contracts, the company’s open-source smart contract library, will also remain free and publicly maintained. CoinNess reported in September that S&P Global planned to acquire OpenZeppelin.

The dYdX Foundation said an on-chain vote has been launched on whether to shut down 17 markets: APE, ATH, BLUR, CHZ, DYM, ENA, LIT, ONDO, ORDI, TRUMP, WIF, WLFI, WTI, XAG, ZEN and ZORA. The vote closes at 12:40 p.m. UTC on Oct. 29.

Tether, the issuer of the dollar-pegged stablecoin USDT, has launched the nonprofit FASE foundation to expand financial inclusion, prevent fraud and support victims of human trafficking, according to its official blog. The foundation includes 11 founding contributors, including Bybit, Kraken, Chainalysis and the Solana Foundation. Its main initiatives include digital education and fraud-prevention programs for up to 10 million young people, a humanitarian aid pilot for up to 1 million people using stablecoins, and support for organizations assisting victims of human trafficking.

Bitcoin has already formed a bottom, making the current period an attractive time to buy and hold for the long term, Galaxy Research said in a recent report, according to The Block. Alex Thorn, head of research at Galaxy Research, said selling by long-term holders has slowed and key technical indicators have recovered. BTC, after spending 44 straight weeks below its 50-week moving average, posted weekly closes above that level for five consecutive weeks through Oct. 18. The average monthly volume of BTC that had been dormant for more than five years also fell to 34,000 BTC this year from 67,000 BTC in 2024. Spot ETFs and BTC-accumulating listed companies have absorbed a significant share of selling from long-term holders, while rising U.S. debt and fiscal deficits are also enhancing Bitcoin’s appeal as an investment, Thorn said. He added the bullish outlook could weaken if BTC closes a weekly candle below its 50-week moving average of $76,540 and fails to reclaim that level within a month.

The unspent transaction output, or UTXO, model, a core part of Bitcoin’s transaction structure, plays an important role in preventing double spending and enabling transaction privacy, according to an analysis by on-chain analytics platform Arkham. Arkham said UTXO tracks individual unspent transaction outputs rather than managing a total balance like a bank account. That structure helps prevent the same asset from being spent more than once without a central authority. The model is also used by Litecoin (LTC), Dogecoin (DOGE) and Zcash (ZEC), Arkham said. Combined with proper address management, including the use of a new address for each transaction, UTXO can also strengthen transaction privacy. Arkham described UTXO as a core element underpinning Satoshi Nakamoto’s Bitcoin design.

Circle, the issuer of the dollar-pegged stablecoin USDC, has issued about 4 billion USDC on the Solana network over the past seven days, SolanaFloor reported. It was not confirmed whether the issuance included asset transfers from other blockchains or led to an increase in USDC circulation on Solana.

Bitmine said it bought an additional 10,452 ETH over the past week, raising its holdings to 6,051,933 ETH. The total equals 4.95% of Ethereum’s total supply, while the company’s combined holdings, including crypto, cash and marketable securities, stand at about $15 billion. Of its total ETH holdings, 5.23 million ETH is currently staked.

Crypto-linked stocks were broadly lower in U.S. premarket trading. Circle (CRCL) fell 2.88%, SharpLink (SBET) declined 2.62%, Bitmine (BMNR) dropped 2.23%, and Strive (ASST) was down 1.92%. Coinbase (COIN) fell 1.37%, Strategy (MSTR) slipped 1.34%, and Robinhood (HOOD) lost 0.92%.

Blockchain application tokens centered on high-quality projects could emerge as viable investment targets despite weakness in the crypto market, according to a Real Vision crypto market analyst Jamie Coutts analysis. Coutts said application tokens had previously underperformed amid selling pressure from token unlocks, speculative demand and regulatory uncertainty, but recent shifts tied to the GENIUS Act and changes in the regulatory stance of the U.S. SEC and CFTC are creating conditions for broader entry by traditional financial institutions into onchain markets.

Pump.fun, a Solana-based memecoin issuance and trading platform, said on its official X account that its app now supports integration with X Layer. The company said the update lets users trade all X Layer-based tokens with a single USDC balance, without manual bridging or switching wallets.

A large call options trade betting on a rise in Bitcoin was recorded on on-chain options platform Derive, CoinDesk reported. According to Derive, a single address bought 800 BTC call option contracts with a $90,000 strike price and a Nov. 6 expiry on Oct. 20. Each contract is tied to one BTC, putting the total notional value at about $68 million. Derive said this is the platform’s largest single open Bitcoin position. The trade suggests the trader is betting on a BTC price increase after the U.S. midterm elections in early November. CoinDesk added that options bets expecting BTC to break above $100,000 by Christmas are also increasing.

Strive said it bought an additional 6,182 BTC for $511.4 million at an average purchase price of $82,732, raising its total holdings to 43,000 BTC. The latest purchase pushed Strive past MARA Holdings into fourth place among corporate Bitcoin holders.

Strive said in a filing with the U.S. SEC that it plans to issue up to $1 billion in additional Series A perpetual preferred stock, known as SATS, with a 15% annual dividend, as part of its Bitcoin accumulation strategy. The company signed a sales agreement on Oct. 26 with seven financial institutions including Cantor Fitzgerald, Barclays, Clear Street and StoneX, and plans to sell the preferred shares from time to time at market prices depending on market conditions. The offering is separate from the 7 million SATS preferred shares issued earlier, and the actual size and timing of any sales have not been determined.

Multichain cryptocurrency wallet platform MATH said on its official X account it will end its Cloud Wallet service on Jan. 1, 2027. Users must withdraw all assets before 4:59 p.m. UTC on Dec. 31, 2026, after which a monthly account maintenance fee will be charged on assets remaining in accounts. The change applies only to Cloud Wallet, while the functions and services of MATH’s self-custodial decentralized wallet, MathWallet, will continue unchanged.

Strategy, the largest corporate holder of Bitcoin, made no additional BTC purchases last week, according to a filing with the U.S. SEC. In the previous buying week, the Nasdaq-listed company added about 267 BTC, bringing its total holdings to 848,517 BTC.

BTC’s recent drop below $80,000 puts the Oct. 27-28 Federal Open Market Committee meeting and upcoming Big Tech earnings at the center of the market outlook, according to QCP Capital. Amid geopolitical tensions in the Middle East and spot ETF outflows, BTC recently slipped under $80,000 and long futures positions were liquidated, QCP Capital said. The firm added that earnings from Microsoft, Alphabet and Amazon could prompt a revaluation of AI-related assets if they support continued AI investment, while weaker signals could extend the correction in AI-linked stocks. Markets expect the October FOMC to leave rates unchanged, while pricing shows about an 84% probability of a rate hike in December. QCP Capital identified BTC’s key support and resistance levels at $78,000 and $86,000, respectively, and ETH’s at $2,150 and $2,500.

Bitcoin’s continued sideways trading relative to the S&P 500 may be a warning sign not only for speculative, high-volatility cryptocurrencies but also for the broader risk-asset market, Bloomberg senior commodity strategist Mike McGlone said. McGlone said Bitcoin was once seen as the fastest horse among risk assets, but despite showing about three times the volatility of the S&P 500 since 2021, it has recently remained rangebound against the index. He added the ratio between BTC and the S&P 500 is closely tied to expectations for Federal Reserve tightening, and those expectations have recently declined. He also said today that U.S. 30-year Treasury yields have risen this year while gold and Bitcoin have fallen, creating a divergence that could be resolved in favor of U.S. Treasuries. Rising inflation is pushing Treasury yields higher, while declines in Bitcoin and gold may point to stronger deflationary pressure, McGlone added.

Mizuho Securities maintained an Underperform rating on Circle (CRCL) and set a $43 price target, The Block reported. The target is about 48.1% below the current share price of $82.87. Mizuho warned AI assistants could steer users toward alternative products offering higher yields and insurance protection, potentially weakening USDC’s competitiveness.