Crypto Pulse——10/12 Market Trends and Hot Project Analysis

Preface:
In the past 24 hours, Bitcoin and Ethereum have increased by 3.12% and 0.99%, with current prices at $62,500 and $2,437, respectively. The ETH/BTC exchange rate remains at 0.04. The crypto market’s Fear & Greed Index is at 49, indicating a neutral sentiment.

Market Trending

Yesterday, the market saw a significant surge, with Bitcoin breaking through $63,000 before experiencing a slight pullback. Major altcoins followed Bitcoin’s lead, resulting in a 10% overall increase.
Public Chain Sector: SUI continues to perform strongly, with its TVL surpassing $1 billion, leading the public chain sector in this round of market momentum.
Meme Sector: NEIROCTO and NEIROETH topped the gainers’ list, continuing their rivalry. POPCAT rebounded after a brief decline, hitting a new all-time high again. Established meme tokens like WIF, PEPE, and SHIB also saw significant increases.
AI Sector: Tokens in this space experienced widespread gains, with ARKM, WLD, and TAO rising over 10% in 24 hours.
Bitcoin Ecosystem: On-chain assets for Bitcoin show positive trends, the runes sector is recovering, and DOG has performed strongly in the short term.

Spot Bitcoin ETF Flows

Yesterday, the U.S. Bitcoin spot ETF saw a net inflow of $253.54 million, including: Fidelity FBTC: net inflow of $117.1 million; BITB: net inflow of $38.8 million; ARKB: net inflow of $97.6 million; GBTC: net outflow of $22.1 million.
On the other hand, the U.S. Ethereum spot ETF saw a net outflow of $100,000 yesterday, including: FETH: net inflow of $8.6 million; ETHE: net outflow of $8.7 million.

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Daily Spotlight

Today’s hot project is ENA, with a 24-hour increase of 23.9%.
Ethena (ENA), established in 2023, is a synthetic dollar protocol on Ethereum that enables a stable and scalable crypto-native currency, USDe, without relying on traditional banking systems. The protocol uses collateralized Ethereum for Delta hedging, ensuring the stability of USDe and its composability in DeFi. The protocol also introduces “Internet Bonds,” combining yields from staked Ethereum and funding from perpetual and futures markets to create the first on-chain crypto-native “bonds,” which can be used as a savings tool denominated in U.S. dollars in permitted jurisdictions.
ENA is Ethena’s native utility token, primarily used for governance, allowing ENA token holders to vote on protocol governance decisions. Recently, the second season airdrop of Ethena has opened for claims, leading to a price surge of ENA above $0.33, with a 24-hour increase of 23.9%.

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The Word on the Street

The U.S. SEC has again postponed its decision on the spot Ethereum ETF options.
According to documents disclosed by the U.S. SEC on October 11, the decision on the proposed rule change allowing the Cboe Exchange to list options related to several popular spot Ethereum ETFs has been postponed. The deadline for the ruling has been moved from October 19 to December 3.
Bloomberg industry research analyst James Seyffart indicates that BTC ETF options are likely to launch in the U.S. in the first quarter of 2025.

Project Upgrade

The modular data layer CARV has announced the launch of its token airdrop claim page, distributing 40 million CARV tokens.
CARV is a modular identity and data layer aimed at gaming and AI, designed to change the way data is used and shared. To create a future where data generates value for everyone, CARV has built a modular data layer protocol integrated with over 40 blockchain ecosystems, along with its flagship game and super application, CARV Play. The total disclosed funding amounts to $49 million, with investors including ConsenSys and Animoca Brands.
The CARV airdrop is divided into three seasons, accounting for 10% of the total token supply.

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