Mizuho Securities downgraded its Circle rating to underperform the market, with a target price of $50

Binance BNB/USDT is currently trading at $750.05, up 0.08% in 5 minutes. Please be aware of market fluctuations.

The total revenue of the Hyperliquid protocol has exceeded 1.4 billion US dollars, of which over 1.26 billion US dollars were used to repurchase HYPE tokens. This protocol accounts for over 56% of the total open perpetual contracts on the chain. The Phantom wallet earned over $25 million in revenue through Builder Codes, while MetaMask earned over $10.5 million in revenue.

From October 2nd to 8th, the daily average number of transactions on Robinhood Chain was 6.2 million, a decrease of 42% from 10.8 million in mid September; The daily active addresses are about 322000, a decrease of 31%; The daily average network cost is about 65000 US dollars, a decrease of 39% compared to the previous period; The spot DEX trading volume was 7.45 billion US dollars, a decrease of 21% compared to the previous period; The 7-day transaction volume of perpetual contracts is approximately 7.35 billion US dollars, an increase of 26%. (Source: CoinDesk)

Blockworks analyst Jake Koch Gallop refutes the theory that Ethereum's liquidity moat has been breached, arguing that its reserve asset attributes, Layer 2 ecosystem, and institutional adoption constitute a long-term competitive advantage. Jake pointed out that the market value of ETH is about 1100 times that of REV in the past 12 months, and Ethereum accounts for about 65% of DeFi's total lock up value and about 45% of RWA's on chain management scale share. Currently, spot ETFs and corporate treasuries hold approximately 13% of the total ETH supply, with another 36% of the ETH supply in a pledged state. Although the market share of stablecoins is facing dilution, their absolute size may still grow.

XRP Ledger fixes a payment vulnerability that has existed for nearly 11 years, which allowed attackers to bypass restrictions and generate XRP out of thin air, disrupting the total limit mechanism of 100 billion XRP. Researchers Cayden Liao and Veria AI reported the vulnerability on September 22, and RippleX confirmed the vulnerability and released xrpld 3.4.1 version on September 25 to fix it. Currently, there is no evidence to suggest that the vulnerability has been exploited.