Bitcoin, Ethereum Rise as Virtuals Protocol and Humanity Protocol Lead Altcoin Surge

I. Crypto Market Overview

Key Takeaways

Macro Environment

US September CPI rose 3.0% year-over-year, below expectations, fueling optimism for a Fed rate cut and boosting risk appetite. Fed Governor Waller's proposal for 'skinny master accounts' could enhance stablecoin integration and DeFi liquidity. Global equity funds saw $11.03 billion in net inflows, supported by easing US inflation and improved US-China trade sentiment.

Crypto Market

The crypto market showed mild gains over the past 12 hours, with Bitcoin up 1.43% to $111,732 and Ethereum rising 0.63% to $3,944, supported by strong ETF inflows and institutional accumulation. Altcoins were mixed; Virtuals Protocol surged 41.2%, Humanity Protocol jumped 34.4%, and XRP gained 4.2%, driven by speculative trading, user growth, and institutional treasury moves. Arbitrum also rose 1.1%, while FET dipped 2.2%.

Today's Outlook

Today, MultiBank Group and Khabib Nurmagomedov launch a global joint venture in Dubai to build the first regulated tokenized sports ecosystem, potentially driving sector-specific interest and innovation.

Fear and Greed Index

40.00% Annual Percentile

32 Fear

Total Crypto Market Cap

$3.76T

0.57%

Total Market Trading Volume

$106.58B

32.67%

Altcoin Season Index

8.33%

Quarterly Percentile

24 / 100

Total Futures Market Open Interest

3.39B

4.16%

Futures

883.79B

2.25%

Perpetuals

II. Industry Updates

Macro-economic Policies

The U.S. Consumer Price Index (CPI) rose 3.0% year-over-year in September, below expectations, fueling optimism for a potential Federal Reserve rate cut and boosting risk appetite in crypto markets.

Federal Reserve Governor Christopher Waller proposed a 'skinny master account' for crypto firms, granting limited access to Fed payment systems, which could enhance stablecoin integration and liquidity in DeFi ecosystems.

Global equity funds saw $11.03 billion in net inflows this week, driven by easing U.S. inflation and improved U.S.-China trade sentiment, supporting upward momentum in Bitcoin and digital asset prices.

The supply of USD Coin (USDC) increased by $600 million in the past week, reflecting rising demand for stablecoins and greater liquidity across crypto exchanges and DeFi protocols.

AVAX-based stablecoins' market capitalization surged 33.88% this week, indicating growing adoption of Avalanche DeFi protocols and increased capital deployment in decentralized markets.

Cryptocurrency Regulatory Trends

Federal Reserve Governor Christopher Waller proposed a 'skinny master account' for crypto firms, aiming to integrate stablecoin issuers into the U.S. payment system while minimizing systemic risk. This move could enhance regulatory clarity and support stablecoin market growth.

UK tax authorities have intensified enforcement on crypto investors, sending nearly 65,000 reminder letters in the 2024-25 tax year. This crackdown increases compliance pressure and may impact investor sentiment in the UK crypto market.

Stablecoin payments have surged 70% since February 2025, driven by regulatory changes and increased B2B adoption. The U.S. and Singapore lead global flows, reflecting growing regulatory acceptance and integration into mainstream finance.

WazirX resumed trading after a 16-month shutdown, following a court-approved restructuring and enhanced security measures. The relaunch underlines the importance of regulatory compliance and user protection in the Indian crypto exchange sector.

South Africa and Nigeria have been removed from the FATF grey list after implementing robust crypto regulations and enforcement actions. This development is expected to boost cross-border payments and foreign investment in both countries.

Virtuals Protocol (VIRTUAL): Surged 44.7% in 24h, driven by high speculative trading and renewed market attention, but lacks clear fundamental news or major partnership announcements.

Humanity Protocol (H): Jumped 34.4% in 24h, reaching a $675M market cap and $500M volume, fueled by strong user growth and new all-time high at $0.3887.

Jupiter (JUP): Despite a slight 0.9% dip, recent high volatility and increased holder activity have kept it among top traded tokens, with 31.4K holders and ongoing ecosystem engagement.

Smart Money Movements

Ethereum whales accumulated 218,470 ETH in the past week, reversing previous sell-offs, as exchange outflows increased and ETH price consolidated near $3,900.

A major whale acquired 44,000 SOL worth $8.37 million, raising total holdings to 844,000 SOL ($149 million) since April 30, with all tokens staked for long-term investment.

A significant transfer of 1,097,732 SOL, valued at $213 million, was executed from Coinbase Institutional to an unknown wallet, sparking speculation about institutional activity.

Ethereum's strategic reserves reached $23.56 billion, reflecting increased institutional accumulation and long-term confidence in ETH's role in DeFi, NFTs, and scaling solutions.

Paradigm purchased $5.9 million in META tokens from MetaDAO at $7.83 each via an OTC deal, using a 24-hour TWAP to ensure fair market value for the transaction.

Events to Watch

Oct 25 (Sat)

MultiBank Group and Khabib Nurmagomedov launch a global joint venture in Dubai to build the first regulated tokenized sports ecosystem.

Oct 26 (Sun)

Jito (JTO) will unlock 542,871 tokens worth about $611,273, representing 0.05% of total supply; potential market impact expected.

Oct 29 (Wed)

Federal Reserve to announce interest rate decision; FOMC expected to cut rates by 25 bps to 3.75%-4.00%. BlaBla Protocol (BLA) IDO launches on Spores.

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