ilqdty daily2 min readRead the latest
jpmorgan put JPM coin on ethereum mainnet, and its kinexys network already moves $7B a day
Source@CoinDesk
ether had a red week anyway, and this is the line i'd want every holder reading first.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 81,541 | -0.5% | -1.9% |
| $ETH | 2386.1 | -0.9% | -4.4% |
| $SOL | 104.0 | -0.9% | -2.6% |
| BTC.D | 59.6% | ||
| F&G | 55 greed |
01Crypto4 stories
- blackrock filed for a buffered bitcoin ETF, and IBIT pulled $665M as the only fund with inflowsDecrypt
- skyai sold its whole SOL treasury, once over 2M tokens, and launched a $201M buybackThe Block
- metaplanet swapped 2,100 bitcoin for 93.7% of nasdaq-listed super league, now renamed superplanet@Cointelegraph
- the cftc told a court that cme has no standing to block perps, which kalshi got approved for in may@CoinDesk
02Macro3 stories
- china's economy grew 4.5% in the third quarter, above the 4.4% forecast, on surging exportsCNBC
- canada's inflation rose to 3.1%, with gasoline up 27.8% in a yearStatistics Canada
- gartner warned that $3.5 trillion of AI data centers and chips could be written down by 2030CNBC
03Trends3 stories
- on solana, pumpfun took $2.19M of fees in a day and the ten trending coins traded $35M. $Pokémon ran +8925% to a $1.2M cap and $COLLECTOOOR +9305% to $0.4M, while last week's runner $FTR dropped another 55% to $0.6M
- tron out-earned solana as a chain over seven days, $5.80M of fees against $5.17M. over 30 days solana still leads, $27.7M against $23.7MDefiLlama fees
- on robinhood chain, the launchpad pons doubled its daily fees to $528KDefiLlama fees
04Today3 stories
- before the US open: GM, RTX, northrop grumman and united airlines report, the first look at how big companies are handling expensive oil
- the german and eurozone ZEW survey asks investors whether europe's outlook got better or worse this month
- after the close, netflix reports. the fed stays in its quiet period through oct 29, so no fed speakers all week
05My view
two of the biggest names in finance moved deeper into crypto during a down week. jpmorgan's settlement network now runs on ethereum, and blackrock's fund was the one place bitcoin money still came in. the buyers who matter for the next year are building right now.
the risk i'm tracking is simple. stablecoins shrank 0.78% over seven days to $303.7B, so there's less fresh money sitting inside crypto, and the ten-year yield was 5.14% this morning. junk bond spreads widened 20 basis points in five days, and credit tends to move before crypto does.
what would change my mind is a third straight week of stablecoin outflows with those spreads still widening. i honestly don't know yet which shows up first, the new buyer or the higher yield. until the data says otherwise, i read this dip as money waiting on the sidelines while the biggest institutions keep building on crypto rails.
netflix tonight, tesla and meta tomorrow. earnings week sets the mood from here. lock in.