Federal Reserve Governor Christopher Waller has called for the Fed to cut interest rates again in December to address the current economic situation. （Watcher.Guru）
In the past 4 hours, the cryptocurrency market has cleared over $242 million in long positions, indicating increased market volatility and investors need to pay attention to risks. （Cointelegraph）
[Whale Deposits 3,000 ETH to Binance, Profits Approximately $14.76 Million] On-chain data shows that a whale deposited 3,000 ETH to Binance after a 2.5-month interval, currently valued at approximately $11.17 million. The whale made a profit of about $14.76 million through trading. Previously, the whale had withdrawn 8,009 ETH, which was then valued at approximately $18.25 million. Currently, the address still holds 2,002 ETH, with a market value of around $7.48 million.
[Ethereum Stablecoin Trading Volume Reaches $2.82 Trillion in October, Setting a New Record] In October 2025, the trading volume of stablecoins on Ethereum reached $2.82 trillion, marking a historic high and a 45% month-on-month increase. Among them, Circle's USDC recorded a trading volume of $1.62 trillion, ranking first; USDT had a trading volume of $895.5 billion, coming in second; MakerDAO's DAI recorded a trading volume of $13.6 billion, ranking third. Analysts pointed out that during the crypto market correction, Bitcoin and Ethereum fell by 11.5% and 16.4%, respectively. Traders utilized stablecoins to manage liquidity and seek yield opportunities, with stablecoin issuers accounting for 65%-70% of the daily total revenue of crypto protocols.
[Hong Kong SFC Allows Virtual Asset Trading Platforms to Share Liquidity and Establish Compensation Mechanisms] The Hong Kong Securities and Futures Commission (SFC) has issued a circular titled 'Circular on Sharing of Liquidity among Virtual Asset Trading Platforms,' approving licensed virtual asset trading platforms to integrate order books with eligible overseas platforms to share liquidity, thereby enabling cross-platform trade matching and execution. Relevant platforms are required to adopt Delivery Versus Payment (DVP) mechanisms, intraday settlement, and monitoring of unsettled transaction limits. Additionally, they must establish reserve funds and insurance or compensation arrangements in Hong Kong that align with the scale of the limits to cover settlement asset risks. Furthermore, market surveillance must be implemented uniformly, ensuring that trading and customer data can be immediately provided to the SFC. Before serving retail clients, platforms must conduct adequate risk disclosures, obtain client consent, and submit a written approval application with relevant terms and conditions attached.
[October DEX Trading Volume Reaches $613.3 Billion, Setting a New Historical High] In October, the trading volume of decentralized exchanges (DEX) increased from nearly $500 billion in September to $613.3 billion, setting a new historical high, primarily due to traders adjusting their portfolio allocations. According to DefiLlama data, Uniswap ranked first with a monthly trading volume of $170.9 billion, up from $106.5 billion in September. PancakeSwap ranked second, with an October trading volume of $101.9 billion, rising from $79.8 billion in September. Meanwhile, centralized exchange (CEX) trading volume also reached $2.17 trillion in October, the highest level since January 2025, representing an approximately 28% increase from $1.69 trillion in September.