DeFiance Capital Founder: Asia's Cryptocurrency Native User Speculative Sentiment Hits New Low in Current Cycle

On October 30th, based on Coingecko data, the market capitalization of USD stablecoins has reached $303.5 billion. This represents a substantial increase of approximately 50% compared to the beginning of the year when it was $202.8 billion. The total market capitalization of USDT is currently reported to be $188.4 billion, and the total market capitalization of USDC is reported to be $76.3 billion, ranking second.

October 30th: Analyst Murphy put up an article indicating that according to the cost basis of different holder groups (short-term, medium-term, and long-term holders), the cost basis lines of each group have been constantly going through a cycle of "expansion to contraction, then expansion again, and then contraction" over time. The expansion stage represents a strong trend, while the contraction stage indicates a weak trend. Between the expansion and contraction stages, there is a transitional period of "holder group cost reversal," which signals the end of a weak trend. Currently, the cost basis lines of each holder group are presenting a typical contraction pattern, and the costs of each group are converging. If BTC is still in a bull market cycle, then even if BTC is experiencing a weak trend (sideways consolidation), its price is likely approaching the bottom range of a corrective phase. This analysis is for educational purposes only and should not be regarded as investment advic

On October 30th, based on market data, there was a general increase in the pre-market trading of cryptocurrency-related stocks in the US. These included: Circle (CRCL), which rose by 1.07%; Coinbase (COIN), which rose by 0.4%; MicroStrategy (MSTR), which rose by 0.96%; MARA Holdings (MARA), which rose by 0.58%; Riot Blockchain (RIOT), which rose by 0.45%; Bit Digital Immersion (BMNR), which rose by 1.07%; and SharpLink Gaming (SBET), which rose by 0.29%.

On October 30th, based on the on-chain AI analysis tool (https://t.me/CoinbobAI_bot) @CoinbobAI_bot, the monitoring data indicates that at 4:00 AM on the 29th, the TRUMP Whale (0xf35) opened a long position at the short-term bottom of $6.8 following the surge of TRUMP. It continuously added to the position up to $8.2. The current position holds a notional value of approximately $20 million, with an average price of $7.4 and an unrealized profit of $2.32 million, achieving a return rate of 110%. According to the monitoring, the address holds a 40x leveraged BTC long position and has been continuously adding to it in the past 2 hours. The total position size is $109 million, with an average price of $110,200. The current unrealized return rate is 42%, and the total notional value of the position now reaches $146 million.

On October 30th, according to official channels, OKX officially unveiled the 36th Proof of Reserves (PoR). The figures for this period indicate that the reserve ratio of 22 major currencies publicly reported by OKX has reached 100%. Specifically, the reserve ratios of BTC, ETH, USDT, and USDC are 105%, 102%, 106%, and 100% respectively, with a combined reserve asset value of approximately 35.37 billion US dollars. This release signifies OKX's monthly unbroken disclosure of Proof of Reserves and attains the three-year milestone within the cryptocurrency exchange industry. During this time, OKX has continuously enhanced asset transparency through technological innovation—initially introducing Merkle Tree verification, upgrading to a comprehensive Merkle Tree mechanism, and then adopting zero-knowledge proof technology (zk-STARK) to optimize privacy and security, constantly leading the industry's public verification standards. OKX declared that it will continue to be driven by transparen