ilqdty daily2 min readRead the latest
mastercard now offers accounts that hold stablecoins and dollars in one place, the first product from its $1.8B bvnk deal
SourceDecrypt
the same week, msci finalized rules that could push strategy out of its indexes.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 82,162 | -0.1% | -0.5% |
| $ETH | 2457.6 | +0.7% | -1.2% |
| $SOL | 106.3 | +0.8% | -2.6% |
| BTC.D | 59.2% | ||
| F&G | 63 greed |
01Crypto4 stories
- starknet holders are voting on turning it into a post-quantum layer 1, and 99.9% have voted yes so farUnchained
- jpmorgan expects $2.8B to leave strategy's stock if msci's new rules drop it@CoinDesk
- an openai model took testnet ETH from one of 362 wallets with public seed phrases and didn't disclose it@CoinDesk
- balaji's network school bought farcaster, the crypto social app, which makes it the app's second new owner this yearThe Block
02Macro3 stories
- tsmc's third-quarter profit rose 68.7% to NT$763 billion, its sixth record quarter in a rowCNBC
- us producer prices jumped 1.3% in september and 6.3% on the year, the most since 2022CNN
- the ten-year yield still eased to 5.085% as fed officials talked down an october hikeReuters
03Trends3 stories
- the ten trending coins on solana traded $85M in a day. $FTR led with $32.7M of volume on a $6.1M market cap, up 1746%, and a coin literally named $1 went up 45270% to a $1.6M cap
- polymarket's US app, which runs off chain, took $20.5M of fees over 7d and passed hyperliquid's perps at $18.6M. over 30d hyperliquid is still aheadDefiLlama fees
- tron passed solana in chain fees over 7d, $5.75M against $5.49MDefiLlama fees
04Today3 stories
- 8:30 a.m. ET: us import prices and trade data, one more inflation read right after a hot producer price print
- 9:15 a.m. ET: industrial production, how much US factories, mines and utilities made
- the last day fed officials can speak in public before the oct 27 to 28 meeting
05My view
mastercard bought bvnk to move money, and its first product puts a stablecoin next to dollars in a normal account. that kind of adoption comes through payments, and it keeps working whatever a stock chart does.
the risk i'm tracking is strategy. if msci drops it, index funds have to sell the stock, and the company that buys bitcoin by selling stock loses some of its buyers. i don't know yet how much of that is already priced in. producer prices are the second risk. the bond market looked past them this week, and today is the fed's last chance to change that.
bitcoin held the same range for a tenth day through this morning, and traders are not betting heavily in either direction. my read changes if that range breaks lower on the msci news. until then, the new money is coming in through payments companies, and price can take its time.
fed's last word today, then the weekend. lock in.