Leaders agree to postpone export restrictions on rare earths and semiconductors after South Korea summit, with China resuming purchases of American soybeans and the US cutting tariffs on Chinese fentanyl to 10%. The European Central Bank maintained its key interest rates unchanged for a third policy session in a row, as policymakers assessed that the outlook was broadly unchanged, but still uncertain due to global trade conflicts and geopolitical tensions. The euro area economy expanded at a faster pace in the third quarter as France and Spain reported strong growth, while Germany and Italy experienced stagnation, amid a highly uncertain outlook due to the ongoing trade policies and political instability, with gross domestic product climbing 0.2 percent sequentially in the September quarter.
US Spot ETF Flows
Asset
Daily Inflow
Daily Change
Weekly Inflow
Total Assets
Daily Volume
BTC ETFs
$-488.4M
+3.8%
$-607.4M
$143.9B
$5.2B
ETH ETFs
$-184.3M
+126.3%
$114.2M
$25.0B
$2.1B
US BTC Spot ETF Flows
US ETH Spot ETF Flows
Crypto Liquidations Summary
Liquidation Type
Value
% of Total
24h Change
Total Liquidations
$840.50M
-
$+59.99M (+7.69%)
Shorts
$112.27M
13.4%
$-44.32M (-28.30%)
Longs
$728.23M
86.6%
$+104.31M (+16.72%)
BTC
$307.80M
36.6%
$-55.44M (-15.26%)
ETH
$193.79M
23.1%
$+5.45M (+2.90%)
Ethereum's transaction fees have stayed near all-time lows even as the network experienced peak activity, with daily transactions reaching over 1.6 million for the first time since October's market crash, marking a significant milestone in network efficiency and usage.
Bitcoin spot trading volume hit $300 billion in October with Binance accounting for $174 billion (the second-highest month of the year), according to CryptoQuant, as traders shifted from derivatives to spot markets after Bitcoin dropped nearly 20% from all-time highs, following a record $20 billion liquidation event that wiped out significant futures open interest earlier in the month.
Onchain revenue from user-paid blockchain fees is on track to reach $19.8 billion in 2025 (following a record $9.7 billion in the first half alone), representing a more than 10-fold increase since 2020 with a 60% compound annual growth rate, according to venture capital firm 1kx's Onchain Revenue Report, while tokenized real-world assets excluding stablecoins surged past $35 billion by Q3 2025 (more than doubling over the past year) as major institutions including JPMorgan, BlackRock, and BNY Mellon invest heavily in asset tokenization infrastructure.
Strategy reported $2.8 billion Q3 net income (down from a record $10 billion in Q2 but beating analyst expectations of $8.15 EPS with $8.42 actual), lifting shares 5.7% after-hours to over $269 after closing down 7.5% at a six-month low of $254.57, as the company added 42,706 BTC in Q3 to hold 640,808 BTC at an average cost of $74,032 and reaffirmed its full-year 30% Bitcoin yield target and $24 billion net income outlook based on a $150,000 BTC price estimate.
JPMorgan tokenized a private-equity fund on its blockchain platform Kinexys Fund Flow in its first transaction with participation from Citco, rolling out the tokenized product to high-net-worth clients through its private bank and asset management divisions, with plans for broader rollout in 2026 including additional asset classes such as private credit and real estate, according to Thursday's announcement.
DYdX President Eddie Zhang reportedly announced that the decentralized exchange will launch spot trading for cryptocurrencies as part of its expansion into the US market later this year.
Coinbase CEO Brian Armstrong made prediction market bettors who wagered that crypto buzzwords would be mentioned during Thursday's Q3 earnings call instant winners by listing "Bitcoin, Ethereum, blockchain, staking, and Web3" in the final seconds after someone on his team shared a prediction markets link in the chat, paying out all "yes" bets on Kalshi ($80,242 in bets) and Polymarket ($3,912 in bets), as Coinbase reported $432.6 million net income and $1.9 billion revenue (up 55% year-over-year) while adding 2,772 BTC to reach 14,458 BTC holdings.
Western Union filed a trademark for "WUUSD" on Wednesday covering crypto wallet, trading, payment processing, and lending services, just one day after announcing its USDPT stablecoin launching on Solana in H1 2026, though the differences between WUUSD and USDPT remain unclear as both have identical trademark filings with the USPTO.
