Prominent Analyst: Ethereum's Consolidation Phase to Continue Until End of November, December Could Bring Accelerated Growth

According to TradingBeats monitoring, a Hyperliquid whale address 0x45d2…4029 holds approximately 6.416 million ENA short positions, with a position value of around $1.54 million, using 10x full leverage at an average entry price of roughly $0.552. The address is currently sitting on an unrealized profit of about $2 million, translating to a position return of approximately 564.5% based on the initial leverage. This address has held ENA short positions since late September. As of press time, the ENA contract’s mark price is around $0.24, some 56.5% lower than the address’s average entry price.

Former acting Chair of the U.S. Commodity Futures Trading Commission (CFTC) and current Chief Legal Officer and Chief Administrative Officer at MoonPay, Caroline Pham, stated that the Commodity Exchange Act grants the CFTC broad regulatory authority, meaning the existing regulatory framework can cover emerging commodity sectors like crypto assets without waiting for congressional legislation. Pham believes the CFTC’s recently proposed rules will help strengthen protections for U.S. retail crypto traders. She noted that integrating relevant transactions into strictly regulated trading platforms is more conducive to investor protection than separate regulation by individual U.S. state laws. On stablecoins and tokenized deposits, Pham said tokenized deposits are more suited for wholesale financial markets. If all trades in a single trading day were settled via real-time atomic settlement on a blockchain, the required cash volume could hit $15 trillion—an amount existing funds cannot support. Banks currently offset counterparties’ receivables and payables through net settlement, so tokenized deposits will play a key role in wholesale markets; stablecoins, by contrast, are better for scenarios where counterparties lack trust and need to mitigate settlement risk. Additionally, Pham projects that over the next two years, the New York Stock Exchange (NYSE) and Nasdaq will begin listing genuine tokenized stocks and generate substantial trading volume. She stressed that real tokenized stocks should retain shareholder rights such as voting power, distinguishing them from synthetic tokens not approved by the issuing company.

Beating AI News (Dongcha) — Mosi Intelligence, founded by Fudan University professor Qiu Xipeng, announced the completion of over RMB 1 billion in Pre-A round financing, led by Huake Fund, with participation from Guokai Science and Technology Innovation and Shanghai Science and Technology Innovation Fund, among others. Founded at the end of 2024, the company is led by Li Shimin, a student of Qiu Xipeng, as its CEO. The proceeds from this round will be used for research and development of full-modal real-time interactive technology and global commercialization. Mosi aims to build AI that not only understands human speech but also grasps users' emotions and surrounding context. For example, if a user says "It's a bit cold" in a car, the AI will adjust the air conditioning based on in-vehicle temperature, the speaker's identity, and past preferences. It also needs to know when to respond and when to remain silent. Technically, the team has open-sourced models including MOSS-Audio and MOSS-VL-Realtime. The former can analyze emotions in speech, identify different speakers, and recognize ambient sounds. The latter can continuously process video, answer questions in real time while viewing, and revise responses based on changes in the visual feed. Currently, Mosi is integrating voice, vision, memory, and tool calling capabilities into the MOSS Live real-time interaction system, targeting use cases such as smart cockpits and AI hardware. The company said it has already delivered products to some enterprise clients, with a long-term goal of building an AI assistant like the one in the movie *Her*, capable of continuously understanding the user's context.

According to official announcements from Solana, Hong Kong will launch its second spot Solana ETF. The Pando Solana ETF (2831.HK) is scheduled to list on the Hong Kong Stock Exchange on October 13. Solana noted that the total net asset value of global spot SOL ETFs currently stands at $1.9 billion, with cumulative net inflows reaching $1.61 billion.

Beating AI Express News: Tsinghua-backed AI infrastructure firm Wuwei Xinqiong has secured 2.3 billion yuan in Series C financing, bringing its total funding to 4.3 billion yuan. Founded in 2023, Wuwei Xinqiong does not develop chips or build its own data centers. Instead, it integrates computing power from chips including Huawei Ascend, NVIDIA, and AMD via software, offering large language model (LLM) training and inference services to clients. Developers can also directly call models through APIs without self-deployment. Bloomberg reported on October 1, citing people familiar with the matter, that Wuwei Xinqiong has secretly submitted an IPO application to the Hong Kong Stock Exchange, with an expected listing as early as the first half of 2027. Its pre-IPO valuation is said to be around 14.3 billion yuan.

The Compound Foundation has released its September progress report, announcing that Compound V4 has completed core product and technical specification development, with preliminary smart contract development and code review now underway. The institutional market went live on September 8; as of September 25, total deposits and collateral supplies exceeded $60 million, while outstanding USDC borrowings surpassed $18 million. The report notes that the institutional market is a research and development deployment designed to test select V4 features and gather real-world feedback. A September 29 update further showed that weekly borrowing demand rose nearly 10% that week, with USDC suppliers’ base rate standing at 6.35% at the time. Additionally, Compound has expanded its institutional market distribution channel via Gate Earn; old-version COMP rewards opened for claiming via Merkl on September 10, with over 106,900 COMP tokens available. On the operational front, the Compound Foundation stated that the annual cost of renewing its Cactus contract has been reduced by roughly one-third, while the comparable annual service cost for its security provider’s renewal dropped by 17%. The overall progress of V4 remains on schedule; in October, work will continue on development, code review and testing, alongside advancing the security review of the Integration Kit and preparing for the launch of partial liquidation functions.