Coinbase reported a robust Q3 performance with $1.9 billion in revenue, exceeding expectations due to increased trading volumes and profitable services, including its Ethereum Layer 2 solution, Base. This strong financial showing comes amid a challenging environment for Bitcoin, which recently dipped below $110,000, contributing to significant outflows from BlackRock's Bitcoin ETF, IBIT, totaling $290.8 million. Despite these outflows, IBIT's cumulative inflows remain substantial at $88 billion, indicating ongoing institutional interest in Bitcoin. Coinbase's success highlights its strategic positioning as a key player in the crypto market, particularly as it continues to attract institutional clients.
October witnessed a historic surge in trading volumes on decentralized exchanges (DEXs), surpassing $1.36 trillion, a significant increase from August's $759 billion peak. This shift indicates a growing investor confidence in on-chain finance, with platforms like Hyperliquid and Lighter leading the charge, processing $299 billion and $265.4 billion, respectively. As traditional exchanges face challenges, this trend towards DEXs may reshape market dynamics, attracting more institutional players seeking to capitalize on the volatility and liquidity of on-chain trading. The shift reflects a broader movement within the crypto ecosystem towards decentralized finance solutions.
XRP is currently holding above $2.50, showing resilience despite mixed market sentiment. The anticipation surrounding Bitwise's XRP spot ETF, which could attract significant institutional inflows, is contributing to a bullish outlook, although traders remain cautious ahead of a major token unlock event on November 1. Market analysts suggest that XRP's price movement will be influenced by the balance between ETF-driven optimism and the potential supply pressure from the escrow unlock. Should the ETF receive regulatory approval, it could significantly enhance liquidity and market depth for XRP.
Bitcoin is currently trading around $110,150, reflecting a modest gain of 0.72% over the past 24 hours. Analysts are closely watching the $100,000 support level, as a dip below this threshold could negatively impact market sentiment. Conversely, bullish momentum remains strong, with institutional players like Strategy Inc. confirming their commitment to Bitcoin accumulation. Strategy Inc. holds 640,808 BTC, valued at approximately $70.9 billion, and reported a 26% yield on its Bitcoin treasury in Q3.
This institutional backing reinforces confidence in Bitcoin's long-term trajectory, suggesting that the market may be poised for a rebound if it can maintain above critical support levels.
Coinbase is racing for stablecoin infrastructure, having entered into a deal to acquire BVNK for $2.5 billion. This move is seen as a significant step in the evolution of crypto services, potentially positioning Coinbase as a major player in the stablecoin market.
Ripple has announced a new plan to monetize 35.9 billion XRP held in escrow. This strategy is aimed at addressing inflation concerns and restoring confidence in the XRP ecosystem.
Lenskart is planning to list its IPO early next month in Mumbai. This move indicates a significant step for the company in the public market.
The cryptocurrency market saw a notable decrease in the total value lost to hacks and exploits, with only $18.18 million stolen across 15 incidents in October 2025. This figure marks an 85.7% decline from the $127.06 million reported in September. The largest hacks of the month were attributed to Garden Finance, Typus Finance, and Abracadabra, which together accounted for $16.2 million of the total stolen funds, indicating a concentrated risk in specific projects.
Charles Hoskinson, the founder of Cardano, addressed criticisms regarding the network’s total value locked (TVL) and its relatively slow growth in decentralized finance (DeFi). He emphasized that while Cardano's DeFi activity lags behind leading blockchains like Ethereum and Solana, the numbers do not fully reflect the network's broader participation and governance capabilities. Hoskinson also challenged the notion that the introduction of major stablecoins like USDT or USDC would automatically enhance Cardano's DeFi ecosystem, suggesting a more nuanced approach is necessary for growth.
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