How much key market intelligence did you miss on October 9?

Featured News

1.Record-breaking stablecoin liquidity and surge in Bitcoin trading volume may drive Bitcoin prices to soar

2.Puffer Finance: PUFFER tokens are about to be listed

3.ZachXBT: 11 addresses highly associated with Murad were found, holding approximately $24 million in MEME tokens

4.Galaxy Digital withdrew 470,000 EIGEN from CEX, equivalent to approximately $175 10,000 USD

Trending Topics

Source: Overheard on CT (tg: @overheardonct), Kaito

SCROLL: The main discussion around SCROLL today focused on the upcoming launch on Binance Launchpool and pre-market trading scheduled for October 11th. Many users discussed the airdrop details, and some users expressed concerns about the 5.5% token allocation of Binance Launchpool. On the other hand, due to the potential high returns and the opportunity for BNB holders to participate in DeFi and receive double rewards through the new clisBNB token, people began to discuss the expanding ecosystem of BNB Chain and its new partnerships and developments in DeFi capabilities.

BABYLON: The discussion around BABYLON today focused on the successful launch of Babylon Bitcoin Staking Phase-1, Cap-2. The amount of BTC staked increased significantly, reaching nearly 23,000 BTC. This milestone established Babylon as a major player in the Bitcoin staking space, with discussions highlighting participation from various protocols such as Lombard Finance and Bedrock, as well as new features such as the Bitcoin staking oracle launched by RedStone. The event sparked interest in BTCFi, with many users discussing the potential for high yields and the strategic significance of the Babylon staking model.

ThreadsTweets

1. Application revenue on Ethereum and Solana is exceeding infrastructure, @RyanWatkins_

2. Summary of Murad's super meme theory, @sandraaleow

3. Make the meme narrative bigger: About "CultureFi", href="https://x.com/mattigags/status/1843930252394848724" target="">@mattigags

Selected articles

1.《Who is making money in the infrastructure field with "overcapacity"? ｜ Rhythm of Finance》

Raymond, BlockBeats

From Crypto Native to Old Money, starting a business with infrastructure as a support seems to have become a "stable" business. The track is stable, the model is worthy of reference, and you can collect rent without losing money. Technologists and resource tycoons do not seem to want to get involved in high-risk Mass Adoption, and more and more high-FDV projects are emerging like factory copy-paste. In the end, the speculators' dream of 100 times and the valuation bubble of the project were ruthlessly punctured by the market, and endless infrastructure brought the ultimate question to the industry: Do we really need so much infrastructure? With this question, this article selects mainstream projects in the field of Crypto infrastructure as representatives to analyze their operating conditions, giving readers a perspective to judge whether the current market infrastructure should be cleared.

2.《Solana killer narrative works? A quick look at the current status of the SUI ecosystem》

WOO Research

However, SUI has performed strongly in recent times, rising from $0.76 in early September to $2.16, approaching its all-time high of $2.18, a surge of about 185% in a month and a half. The SUI hype was initiated by institutions, telling the story of replacing Solana. The injection of funds into the public chain not only benefits the coin price, but also TVL, ecological projects and even memes.

3.《HBO Nakamoto concept is a mess, SPX and other "abstract indexes" continue to ferment | What is meme hyping today? 》

Original translation: 0xFacai, BlockBeats

Today, boosted by the popularity of the HBO documentary, a series of cults called out by the "new meme traffic king" Murad continued to attract the market's attention, among which the "abstract school" represented by HarryPotterObamaSonic10Inu and SPX6900 was particularly popular.

On-chain data

On-chain fund flows from October 2nd to 9th

Biggest gainers and losers

Token volatility on October 9th, sorted by 24h trading volume

Biggest gainers

1.$SIGMA (Solana)

2.$MOODENG (Solana)

3.$APU (ETH)

Biggest Drawdown

1.$MAGA (ETH)

2.$MOODENG (ETH)

3.$MANYU (Solana)