Elon Musk releases banana emoji

[Amundi: Plans to Launch Bitcoin ETF] Europe's largest asset management company, Amundi, plans to launch a Bitcoin ETF, with total assets under management exceeding $2 trillion. (Bitcoin Archive)

[Bitcoin and Ethereum ETF Net Outflows Exceed $153 Million] 10 Bitcoin ETFs saw a net outflow of 97 BTC, valued at approximately $11.12 million; Grayscale experienced an outflow of 384 BTC and currently holds 176,100 BTC, with a total value of approximately $20.12 billion. 9 Ethereum ETFs saw a net outflow of 34,600 ETH, valued at approximately $142 million; BlackRock experienced an outflow of 19,900 ETH and currently holds 4,072,600 ETH, with a total value of approximately $16.74 billion. (Lookonchain)

[Ferra Completes $2 Million Pre-Seed Funding and Launches the First DLMM DEX on Sui Mainnet] Decentralized trading platform Ferra announced the completion of a $2 million Pre-Seed funding round, led by Comma3 Ventures. Participants in the round include Sui, Arche Fund, Antora Technology, and several angel investors who are founders within the Sui ecosystem. Ferra has launched the first Dynamic Liquidity Market Maker (DLMM) decentralized exchange (DEX) on the Sui blockchain, integrating both Concentrated Liquidity Market Maker (CLMM) and Dynamic Automated Market Maker (DAMM) models. The platform is now officially live on the Sui Mainnet.

Weng Xiaoqi, CEO of Xinhuo Technology, stated that after the sharp decline of major cryptocurrencies like BTC and ETH in the early hours of October 11, they quickly rebounded, with some even hitting new highs. This aligns with the typical characteristic of a bull market, where "sharp drops are followed by rapid rebounds," whereas bear markets usually exhibit prolonged downward trends. He pointed out that although short-term market volatility remains high and there is even a possibility of a second bottoming, the industry's fundamentals have not undergone a fundamental reversal despite the backdrop of interest rate cuts and liquidity releases. Weng Xiaoqi emphasized that the liquidation scale of this sharp decline may exceed $20 billion, leading to institutional and large-scale investor liquidations and short-term liquidity pressure. However, this has also weakened speculative forces in the market, creating opportunities for subsequent development. He advised investors to use leverage cautiously and always maintain respect for the market. Additionally, he mentioned that the prices of some crypto assets have already fallen below institutional entry costs. For example, ETH is currently around $4,100, which is lower than BMNR's average holding cost of $4,500. This presents a favorable opportunity for institutions that have yet to establish positions. Regarding this sharp decline, he believes it was triggered by an overreaction to Trump’s TACO diplomacy. After experiencing political fluctuations, the market may gradually desensitize and move toward more stable development.

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