With the perpetual preferred share STRC now trading at par, Strategy may unlock a new path to acquire bitcoin through its at-the-market program.

[Wintermute: Growth in Cryptocurrency Market Liquidity Slows, Capital Inflows Stagnate] Cryptocurrency market maker Wintermute stated on the X platform that the current cryptocurrency market cycle is driven by liquidity, but capital inflows have stopped. Since early 2024, the total scale of stablecoins, ETFs, and digital asset treasuries has grown from $180 billion to $560 billion, but this growth momentum has significantly slowed. At this stage, capital is primarily rotating within the market rather than flowing in as new capital, which has led to a rapid decline in market rallies and a continued narrowing of market breadth. Wintermute pointed out that liquidity in the cryptocurrency sector will only return if any of the three major capital inflow channels—stablecoins, ETFs, or digital asset treasuries—reaccelerates. Until then, the cryptocurrency market will remain in a self-funded phase.

**[GoPlus Report: Meme Coin "Binance Life" Creator Profited Only Around $4,000]** According to information released by the GoPlus Chinese community, the creator of the BSC chain Meme coin "Binance Life" only profited approximately $4,000 from the project, missing the opportunity when the token's market cap briefly reached $500 million. On October 4, the creator deployed the "Binance Life" token and, following their usual "quick cash-out" strategy, liquidated all holdings in two transactions within just 20 seconds. However, hours later, the token's market cap skyrocketed to $500 million, with daily trading volume reaching $410 million. Subsequently, the creator attempted to replicate the success by creating 359 tokens in the following period, averaging about 51 tokens per day, including 292 Chinese Meme coins such as "Binance Alipay" and "Binance Avenue." However, these efforts failed to generate significant profits.

[Joseph Wang Predicts the Fed May Resume Balance Sheet Expansion by Year-End] Joseph Wang, a former trader in the New York Fed's Open Market Operations department and now active on the YouTube channel *The Fed Guy*, believes the Federal Reserve may resume balance sheet expansion by the end of the year. He pointed out that if the Fed does not inject liquidity through securities purchases, it will lose control over short-term interest rates and be unable to implement monetary policy. Additionally, strong demand for repos and the continuously expanding TGA account may force the Fed to expand its balance sheet by $300 billion to $500 billion annually.

According to the popularity ranking, MMT's popularity has decreased by 1.05 million followers compared to yesterday, ranking first. The popularity ranking is as follows: ① MMT （$0.6000，-52.76%） ② ZEC （$518.17，20.00%） ③ ASTER （$1.07，2.88%） ④ DASH （$107.97，-0.14%） ⑤ ETH （$3386.76，2.38%） The buying power of MMT's main funds is average, with a net inflow of $551.28 within 24 hours and a transaction volume of $43100 within 24 hours, of which the main funds have a net inflow of $0.00.