By Omkar Godbole (unless otherwise indicated)
Bitcoin Despite the overnight pullback, it remains on an uptrend. The world’s largest cryptocurrency is on fire, attracting nearly 10% in a week.
Though the topics around BTC are natural, other sub-sectors such as real assets (RWAS) are illuminating a great deal of time and are worth noting.
On Monday, Ondo Finance, one of the top five RWA projects by market value, announced the acquisition of Oasis Pro, a US company with full SEC broker-dealer, ATS and transfer agent licenses.
The acquisition allows ONDO to provide US-compliant tokenized securities products, including the issuance, transaction and management of tokenized assets such as stocks, corporate obligations and structured products. Ondo Token rose nearly 5% to 96 cents, continuing well below its December 2024 peak of $2.14.
In parallel development, the Plume Network, an RWA-centric Layer 2 blockchain, has been registered as a transfer agent by the SEC.
This license allows Plume to directly manage digital securities and shareholder records on-chain and support interoperability with the US Deposit Trust & Clearing Corporation (DTCC) Settlement Network. The network’s native token (Plume) rose 25% in the announcement to surpass 12 cents.
To sum up, these announcements show that traditional assets digitisation and tokenization have gained regulated traction, bridging the gap between traditional finance and blockchain innovation.
In other news, Cathie Wood’s Ark Venture Fund has invested around $10 million in Securitize, a BlackRock-backed tokenization company. This stake will be ARK’s eighth largest holding.
Speaking of market outlook, the path with minimal resistance in BTC remains on the high side supported by ETF inflows. However, there are some interesting points to consider. According to Coindesk analyst James Straten, it pulled over $1 billion in a day or two, bringing Bitcoin prices to the tentative top spot, and has since been revised low.
Furthermore, the dollar index, which tracks the value of greenbacks against major currencies, remains resilient despite discussions about faster Fed rate reductions against the backdrop of US government closures.
Potential gatherings in the greenback have been able to put pressure on cryptocurrency and gold. The latter is quickly closed at the $4,000 mark. Keep alerts!
What to see
For a list of more comprehensive events this week, see Coindesk’s Crypto Week Affore.
- Crypto
- Macros
- October 7th, 10:05am: Supervisor Vice-Chair Michelle W. Bowman makes a welcome statement at the 2025 Community Banking Research Conference in St. Louis, Missouri.
- October 7th, 10:30am: Conversation with Fed Governor Stephen I. Miran at New York’s Managed Fund Association (MFA) Policy Outlook 2025. Watch live.
- Revenue (Estimation based on fact set data)
Token Event
For a list of more comprehensive events this week, see Coindesk’s Crypto Week Affore.
- Governance votes and phone calls
- Gnosis DAO votes for GIP-138 to fund Nodesentinel, a validator monitoring tool used by 94 operators for 60k+valiters. Voting will end on October 7th.
- Unlock
- Token launch
- October 7th: KGEN (KGEN) listed in Binance, MEXC, BINGX, KUCOIN, and more.
- October 7th: Klink Finance (Klink) listed in Binance, Kucoin, and more.
meeting
For a list of more comprehensive events this week, see Coindesk’s Crypto Week Affore.
Token talk
Oliver Night
- Plasma’s XPL token rose more than 11% as it approached the $1.00 mark after shrugging from negative emotions last Tuesday, sliding to $0.87 on Monday.
- The project fought against the criticism of the founding team’s alleged token sales that was defiantly rebutted last week by founder Paul Fex.
- There were also complaints about the plasma team following links to non-impression Layer 2 Network Blast.
- “Of the 50 teams, three spent time at Blur or Blast,” Faecks wrote to X:
- Currently, due to negative emotions in the plasma’s rearview mirror, the stubcoin-focused blockchain is beginning to find a groove, with a total value lock (TVL) of $5.1 billion, of which $1.2 billion is in the Plasma Savings Vault Vault Protocol.
- The attention to XPL tokens is rising as daily trading volumes rose by more than 90% to $5 billion on Tuesday.
Positioning of derivatives
- BNB has led to open interest in futures in most major tokens, including Bitcoin, a sign of continuing capital inflows into the market.
- One thing about signs: The OI of the unforgiving token fartcoin has risen by more than 12% in the last 24 hours. This usually represents a bubble that is often observed at the top of the provisional market.
- XRP volatility could increase as open interest in perpetuals dominated by USD and USDT listed in major exchanges has skyrocketed to XRP 938 million, the highest level since late July.
- BTC is approaching record highs, but the market has not overheated. Most tokens, including the annual funding rate MemeCoin, remain at around 10%.
- At CME, BTC’s open interest has seen a slight bounce against the three-week high, but in December last year it was well below 211K BTC. Meanwhile, the Ether OI hit a record high of 2.2 million ETH.
- At Delibit, traders are chasing the BTC Bull Call Spread, with some profits gaining from longer call positions and moving towards higher strike bets. Overall, calls still look cheaper than Puts.
Market movements
- BTC fell 0.84% from 4pm on Monday, $124,220.89 (24 hours: +0.27%)
- ETH is down 0.17% at $4,683.25 (24 hours: +2.58%)
- Coindesk 20 is down 1.09% at 4,360.28 (24 hours: +0.43%)
- Ether CESR Composite staking rate increases by 3 bps at 2.85%
- BTC’s funding rate is 0.0076% (8.3132% per year) for Binance
- DXY is up 0.34% at 98.44
- Gold futures remain unchanged at $3,978.10
- Silver futures fell 0.57% at $48.17
- The Nikkei 225 was unchanged at 47,950.88
- Hang Seng fell 0.67% at 26,957.77
- FTSE has not changed at 9,479.43
- Euro Stoxx 50 has not been changed at 5,627.61
- DJIA fell 0.14% on Monday at 46,694.97
- S&P 500 closed 0.36% at 6,740.28
- NASDAQ Composite rose 0.71% at 22,941.67
- S&P/TSX Composite rose 0.2% at 30,531.88
- S&P 40 Latin America closed 0.86% at 2,877.42
- The 10-year financial ratio in the US is up 0.6 bps at 4.168%
- E-Mini S&P 500 futures are no different at 6,785.25
- E-Mini Nasdaq-100 futures are no different to 25,186.00
- E-Mini Dow Jones Industrial Average Index is down 0.17% at 46,878.00
Bitcoin statistics
- BTC dominance: 58.82% (-0.17%)
- Ether to Bitcoin ratio: 0.03768 (0.29%)
- Hash rate (7-day moving average): 1,022 EH/s
- Hashpris (spot): $52.18
- Total Fee: 4.41 BTC/$550,867
- CME Futures Open Interest: 147,835 BTC
- BTC priced in gold: 31.2 oz
- BTC vs. Gold Market Cap: 8.80%
Technical Analysis
- ETH jumped to $4,740, marking an upside-down break in the consolidation of countertrends identified by the trendline connecting highs and lows on August 24th and September 13th on September 25th.
- Breakout refers to a wider uptrend reopening, and a range of record highs.
- On the downside, Monday’s low of $4,489 is the bear’s defeat level. It would negate bullish breakouts.
Crypto stocks
- Coinbase Global (Coin): $386.07 (+1.59%) on Monday, closing at -1.44% at $380.51 in front of market
- Circle Internet (CRCL): $148.51 (+1.87%), closed at +1.96% at $151.42
- Galaxy Digital (GLXY): $38.84 (+7.41%), closed at $2.70% at +2.70%
- Bullish (BLSH): $68.79 (+6.14%), closed at -0.36% at $68.54
- Mara Holdings (Mara): $20.57 (+9.3%), closed at -1.12% at $20.34
- Riot Platforms (Riot): $21.56 (+10.91%), closed at -0.42% at $21.47
- Core Scientific (CORZ): $17.91 (+0.51%), +0.28% closes at $17.96
- CleanSpark (CLSK): $17.43 (+9.35%), closed at +0.75% at $17.56
- Coinshares Valkyrie Bitcoin Miners ETF (WGMI): $52.29 (+8.51%), +1.36% at $53.00 at +1.36%
- Exodus Movement (Exod): $31.7 (+5.46%), closed at -3.03% at $30.74
Cryptocurrency company
- Strategy (MSTR): $359.69 (+2.29%), closed at -1.58% at $354.00
- Semler Scientific (SMLR): Closed at $30.75 (+0.62%)
- Sharplink Gaming (SBET): $19.24 (+5.83%), closed at -0.73% at $19.10
- upexi(upxi): $7.7 (+3.49%), closed at -2.6% at $7.50
- Lite Strategy (Lits): $2.6 (+1.56%), closed at -0.77% at $2.58
ETF Flow
Spot BTC ETF
- Daily Net Flow: $11.9 million
- Cumulative net flow: $61.2 billion
- Total BTC holdings: 134 million
Spot ETH ETF
- Daily Net Flow: $176.6 million
- Cumulative net flow: $146.1 billion
- Total ETH holdings are approximately 675 million
Source: Farside Investors