Papertrade’s trading funds have dwindled to just $6.4 million, plunging nearly 70% in 24 hours.

Bank of Korea Governor Rhee Chang-yong said on the 12th at the National Assembly’s Finance and Economy Committee state audit meeting: “We failed to issue sufficient warnings about single-stock leveraged ETFs, and we apologize to the public for this. At the end of May, I did not fully grasp the volatility in South Korea’s domestic stock market and the memory chip sector.” Additionally, regarding the Bank of Korea’s June Financial Stability Report, which had judged that single-stock leveraged ETFs “are expected to prevent domestic investment funds from flowing overseas and help expand foreign capital inflows,” Rhee also admitted the judgment was wrong, stating: “In hindsight, this assessment was inappropriate.”

According to HTX market data, tokens in the cross-chain interoperability sector have rallied sharply, with Wormhole (W) leading the surge, gaining over 60% in 24 hours and briefly breaking $0.03. LayerZero (ZRO) also strengthened, surpassing $2.2 with a 24-hour increase of more than 12%. Axelar (AXL) crossed $0.06, rising 9.7% in 24 hours; Stargate (STG) broke $0.2, up 23.7% in 24 hours. On the news front: Wormhole is advancing W 2.0 tokenomics, introducing reserves, staking yields and a bi-weekly unlock mechanism, and has completed multi-chain deployments for Hyperliquid HYPE as well as institutional-grade integrations including Ripple RLUSD. LayerZero has seen a sharp recent growth in TVL, launched the Bridge Sentinel security solution in partnership with Blockaid, and completed the integration of Stargate (STG) tokens into the ZRO ecosystem while carrying out ongoing buybacks. Axelar is expanding multi-chain connections, actively participating in the XRP ecosystem as a bridge for the XRPL EVM sidechain. Stargate is finalizing its token merger and migration to the LayerZero ecosystem, with multiple major trading platforms supporting STG-to-ZRO conversions.

Benjamin Cowen, founder of crypto market research platform ITC, posted that Bitcoin closing above $83,000 on its weekly chart signals bulls remain in control, while bears need to prove they have taken over market dominance. Cowen noted that based on his past experience, employing the dollar-cost averaging (DCA) strategy in the second half of U.S. midterm election years is a prudent move; this strategy worked in 2018 and 2022, and he hopes it will hold true in 2026.

According to TradingBeats monitoring, W is currently trading at $0.02929, up around 66.3% in 24 hours. Its contract trading volume stands at approximately $24.32 million, with open interest nominal value at roughly $31.08 million. A large bull investor bought W from a short position as early as the morning of September 29, spending about $201,300. On the evening of October 10, this account abruptly added around 10.4511 million W tokens, trading for approximately $183,600 (0x8be0…), after which W saw a sharp rally on the evening of the 11th. Currently, the investor still holds a long position of about 63.4056 million W tokens with 5x leverage, valued at roughly $1.857 million, with an average entry price of $0.014509, unrealized profit of around $937,000, and a return of approximately 509%. Following the price surge, the account has started taking profits. Over the past hour, it has continuously reduced its position by about 3.274 million W tokens, trading for around $90,300, realizing a profit of roughly $42,800 (excluding fees and funding rates). No pending W orders are currently left. Two other low-cost long holders still hold large positions and have not yet taken profits: - Approximately $1.524 million long position: holds 52.0315 million W tokens, average entry price of about $0.013470, unrealized profit of around $823,000 (0x0121…) - Approximately $1.465 million long position: holds 50 million W tokens, average entry price of about $0.011436, unrealized profit of roughly $893,000 (0xeadc…) The three early holders collectively hold long positions worth about $4.846 million, with total unrealized profit of approximately $2.653 million.

As monitored by TradingBeats, on October 12, the NEAR perpetual contract on Hyperliquid hit a high of $5.959, marking a new yearly high. The price is currently quoted at around $5.862, up approximately 10.66% in 24 hours. Trader mk4 (X: @mk4_lul) still holds roughly 5.7565 million NEAR in long positions, with a position value of about $33.74 million, an average entry price of just $2.353, an unrealized profit of around $20.2 million, and a return of approximately 1491%. NEAR is currently the only long position in this address’s main contract account; the trader also holds short positions in seven other assets including BTC, ETH, and SOL, with a combined value of roughly $14.53 million and a net unrealized loss of about $1.18 million. After offsetting long and short positions, the net unrealized profit of all current contract positions is approximately $19.02 million; no position reductions or public orders have been placed so far.

Goldman Sachs released a report stating it maintains its base case that ongoing adjustments to Middle East oil supplies will eventually push crude prices lower, though renewed conflict remains a significant upside risk. The bank raised its December Brent crude price forecast to $90 per barrel, while keeping its 2027 average Brent crude forecast at $80 per barrel. It also projects December 2024 WTI crude prices to average $81 per barrel, and 2027 WTI prices to average $73 per barrel. Goldman Sachs noted that if 2027 average daily oil production in the Gulf region is 5 million barrels lower than its February 2026 level—instead of the 300,000-barrel drop in the base case—2027 average Brent crude prices could reach around $125 per barrel. Conversely, if 2027 average daily Gulf production is 1 million barrels higher than its February 2026 level, Brent crude prices could fall to above $60 per barrel in 2027. (Jin10)