Bitcoin
Bitcoin reserves on exchanges have dropped to a six-year low, suggesting that investors are leaning towards holding coins over actively trading.
Business
FTX creditors will soon start to receive as much as $16.5 billion in distributions now that the bankrupt crypto exchange’s reorganization plan has been approved. But that doesn’t mean all this money will immediately flow back into the crypto markets.
Bitcoin has recovered its losses for the month, while memecoins are posting strong gains. However, some caution against overly optimistic expectations for October.
Ethereum
A new Ethereum Improvement Proposal calls for lowering the network’s slot time, increasing blobs per block and scaling layer 1 performance.
DeFi
A malicious actor compromised an email thread between an investor and EigenLayer’s custodial service, resulting in over 1.6 million EIGEN tokens being erroneously transferred to the attacker’s address.
Tech
While total value secured has been the primary metric to track oracle adoption, a Blockworks Research report funded by oracle provider Pyth suggests total transacted value as a better metric, which would place Pyth above its rival Chainlink.
Long-term bitcoin holders now account for 47.4% of all coins held at a loss, according to Glassnode.
Binance’s share of the crypto market dropped to the lowest level since 2020 amid a broader decline in trading volumes across centralized crypto exchanges.
Conflict in the Middle East caused substantial price swings in the crypto markets, likely prompting liquidity providers to rebalance their positions which led to increased volumes.
One of the most widely-used metrics in DeFi comes under fire as Coinbase’s Viktor Bunin and Solana’s Anatoly Yakovenko argue about its importance.
