Market Overview 📉
*Data as of 7:00 AM UTC on October 24, 2025.
Bitcoin (BTC) ended the week back up 4.56%, while Ethereum (ETH) trailed close behind, up 4.35% in the same period. Total crypto market cap recovered every so slightly, closing 0.69% up to end the week at $3.790T, down from $3.764T in the week before.
This week’s liquidations stayed relatively muted after last week’s bloodbath, with a significant portion of leverage wiped out from the markets. While funding rates recovered slightly, they continue to remain under historically normal rates, implying a lowered risk appetite after last week’s crash.
Crypto trading firm, FalconX, acquires ETF issuer, 21Shares, as the firm considers a potential IPO.
YouTuber Mr Beast, files for a trademark for MrBeast Financial, a planned crypto exchange app and payments service.
ETH treasury company, SharpLink Gaming, acquires an additional 19.271 ETH at an average price of $3,892 per ETH.
Why does it matter?
Markets recovered slightly across the week, continuing to make relatively large moves intraday, but generally trading within a tight range, as traders await the next catalyst to decide the market’s direction. Traditional markets continue to outperform, with the S&P 500 up 1.89% and the Nasdaq up 2.02% over the past week.
Notable altcoin outperformers this week included Keeta (KTA), Humanity Protocol (H), Zcash (ZEC), Falcon Finance (FF) and Ethena (ENA).
View CMC Gainers & Losers board
Narrative of the Week 📰
Prediction markets take centre stage, amidst big moves by key players in the sector, Polymarket and Kalshi.
The National Hockey League (NHL) officially partners with both Polymarket and Kalshi as their official prediction market partners.
Polymarket Clearing is now the designated clearinghouse for DraftKings as they enter the prediction market space.
Jupiter Exchange introduces prediction markets, powered by Kalshi.
Popular EVM wallet, Rabby, teases an integration with Polymarket, opening a new stream of revenue for Rabby and new users for the prediction market.
Why does it matter?
Prediction markets have quickly gained traction outside of the usual crypto crowd, finding product-market fit especially in sports betting.
Major Project Updates 🗓️
MegaETH announces details for their upcoming token sale on Sonar, which will follow an English auction format, starting a valuation of $1M FDV, capped at $999M.
Coinbase acquires Cobie’s crypto fundraising platform, Echo, for $375M.
Opensea announces their upcoming token, SEA, which is expected to launch in Q1 2026.
Proof of Work L1, Kadena, announces their shutdown, ceasing all business operations and maintenance immediately.
Why does it matter?
MegaETH’s new updates around the MEGA token continue to build hype leading into their upcoming token sale, which stands as one of the most highly anticipated token launches of the year.
DeFi Brief 🏦
Source: https://coinmarketcap.com/chain-ranking/
(*Data as of 7:00 AM UTC on October 24, 2025)
Aave acquires crypto savings app, Stable, integrating Aave into Stable’s consumer focused applications.
Circle introduces Bridge Kit, a developer toolkit to aid in the development of cross-chain stablecoin transfers, leveraging Circle’s CCTP and USDC.
Solana DEX aggregator, Jupiter Exchange, announces Ultra V3, promising the best price, execution and protection to traders on Solana.
Solana founder, Anatoly, is allegedly building a perpetuals DEX named Percolator, according to commits on GitHub.
Why does it matter?
Consumer adoption and real-world use cases continue to be the way forward as lending giant, Aave, acquires Stable to further expand their reach beyond the usual crypto-native crowd.
Fundraises 💰
AI agent infrastructure project, Keycard, raises $38M in a funding round led by a16z, Boldstart Ventures and Acrew Capital, with support from Tapestry VC, Exceptional Ventures, and more.
Stablecoin and payments infrastructure project, Cybrid, raises $10M in a Series A funding round led by BDC Capital, with participation from Golden Ventures, Luge Capital, and Panache Ventures.
Bybit-backed memecoin launchpad, Printr, raises $4.5M in a seed extension round, with investors including Bybit, Mantle, Mirana Ventures, L1D, Sferminion, and more.
Stripe-backed stablecoin L1, Tempo, raises $500M in a Series A round led by Greenoaks and Thrive Capital, placing its valuation at $5B.
Airdrops Abound 🎁
Meteora opens claims for the MET token airdrop, allowing users to claim their MET tokens from the MET-USDC liquidity pool on Meteora.
Tweet of the Week 📝
Source: @KalshiEco
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