BTC and ETH Slide as ENA Surges; Fasttoken Unlock and DeFi Events in Focus

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Bank of England will propose stablecoin regulations by end-2026, aligning reserves with US standards and boosting institutional confidence. Grayscale's launch of US spot crypto ETFs with staking is expected to drive institutional inflows. Regulatory scrutiny in the UK and Portugal may increase compliance costs and impact stablecoin and DeFi market structures.

Crypto Market

The crypto market saw broad declines over the past 12 hours, with BTC down 1.63% to $107,100 and ETH down 1.68% to $3,864, pressured by weak risk sentiment and ETF outflows. Altcoins were mixed; ENA surged 8.97% to $0.44 on DeFi demand, PUMP rose 2.81% to $0.00356, while WLFI dropped 4.00%. Meme and DeFi sectors showed relative strength, driven by ecosystem activity and synthetic dollar protocol adoption.

Today's Outlook

Today, Fasttoken will unlock 20 million tokens at 12 AM UTC, potentially impacting its liquidity and price. Mars Protocol is holding a v2.4.0 upgrade vote, which may influence governance and staking dynamics for $MARS holders.

Fear and Greed Index

56.00% Annual Percentile

28 Fear

Total Crypto Market Cap

$3.61T

1.85%

Total Market Trading Volume

$243.15B

9.78%

Altcoin Season Index

0.00%

Quarterly Percentile

27 / 100

Total Futures Market Open Interest

3.38B

4.03%

Futures

986.92B

5.46%

Perpetuals

II. Industry Updates

Macro-economic Policies

The Bank of England will propose stablecoin regulations by end-2026, with a public consultation starting November 10, 2025; this move may increase institutional confidence in GBP-backed digital assets and impact DeFi and stablecoin liquidity flows.

A new framework will align stablecoin reserve requirements with U.S. standards, mandating reserves in short-term government bonds; this could enhance stablecoin stability and attract more capital into crypto markets, supporting on-chain liquidity.

Grayscale has launched the first U.S. spot crypto ETFs with staking, enabling investors to earn blockchain rewards via regulated products; this innovation may boost institutional inflows and staking participation, affecting DeFi yields and token demand.

Cryptocurrency Regulatory Trends

Ondo Finance has urged the SEC to delay approval of Nasdaq's tokenization proposal, citing lack of settlement transparency. This raises concerns about fair competition and could slow institutional adoption of tokenized assets.

The Bank of England will launch a public consultation on stablecoin regulations on November 10, 2025, aiming to align reserve requirements with U.S. standards. This move may boost issuer confidence and impact stablecoin market structure.

Portugal's parliament is advancing new crypto regulations, including MiCA transposition and stricter anti-money laundering rules. Enhanced supervision is expected to increase compliance costs and affect crypto service providers' operations.

Singapore-based exchange Hyperliquid faces regulatory scrutiny over its centralized governance and lack of user identity checks, highlighting ongoing global concerns about DeFi platform compliance and user protection.

The UK House of Lords criticized the Bank of England's proposed cap on stablecoin holdings, warning it could harm the country's crypto competitiveness. Regulatory uncertainty may dampen institutional and retail participation.

Ethena (ENA): ENA surged 9.25% in 24h to $0.44, with $665.9M volume and TVL at $12.53B, driven by strong DeFi demand and synthetic dollar protocol adoption.

Pump.fun (PUMP): PUMP rose 2.8% in 24h to $0.00355, 24h volume $315M, benefiting from high meme coin trading activity and launchpad ecosystem growth.

World Liberty Financial (WLFI): WLFI traded at $0.1307, with recent volatility and notable social media attention, reflecting increased speculation in Solana ecosystem tokens.

Smart Money Movements

BlackRock shifted $28.36 million in Bitcoin to Coinbase Prime and withdrew $45.47 million in Ethereum, signaling a major portfolio reallocation toward ETH.

A dormant Bitcoin wallet linked to Russian entrepreneur Bilyuchenko moved 6,500 BTC, valued at $694 million, after three years of inactivity.

Chainlink accumulated 523,158 LINK tokens worth $8.5 million for its reserve, using operational income to reduce circulating supply and support long-term growth.

CDT Equity acquired 9.25 BTC for $1,005,000 at an average price of $108,301.75, increasing its total Bitcoin holdings to 17.91 BTC.

A whale or institution invested $65.34 million to acquire 566.9 BTC at an average price of $115,260, despite facing a floating loss of $5.37 million after the recent price drop.

Events to Watch

Oct 20 (Mon)

LayerZero will unlock 25.71M tokens (7.86% of supply) at 11 AM UTC; Sei will unlock $12M in tokens, potentially impacting market liquidity.

Oct 21 (Tue)

Printr will launch a new product with 12.5M tokens on a multichain launchpad, expanding its ecosystem reach.

Oct 22 (Wed)

The US Federal Reserve will hold a key meeting on monetary policy and interest rates, closely watched by global markets.

Oct 23 (Thu)

Meteora will hold its MET Token Generation Event and DeFi token launch within the Solana ecosystem; FacilPay will launch its FACIL Payments Token.

Oct 24 (Fri)

The US Bureau of Labor Statistics will release September CPI and inflation data, a major indicator for global financial markets.

Table of Contents