Analysts: Bitcoin’s on-chain activity shows notable divergence, with whales shifting to hoarding coins while spot demand remains weak.
On-chain data analyst XWIN, citing CryptoQuant data, noted that Bitcoin’s current on-chain metrics show a significant divergence between whale behavior and the spot market. While large holders have begun re-accumulating, spot market demand remains weak, with the market transitioning from "seller exhaustion" toward a potential bottoming phase. XWIN added that on-chain data points to positive accumulation signals: large holders holding 1,000 to 10,000 Bitcoin have sharply reversed their 60-day net accumulation from a negative 62,600 BTC to a positive 5,230 BTC, indicating major whales are shifting back from a distribution mode to accumulation. Meanwhile, Binance’s USDT reserves have surged from roughly $790 million to $1.76 billion, signaling growing potential buying power in the market. However, U.S. spot buying has not kept pace. The Coinbase Premium Index is currently around -0.1416%, while weekly exchange flows have shifted to a net inflow of 8,428 BTC. Additionally, the Short-Term Holder Spent Output Profit Ratio (STH-SOPR) hovers near 0.9982, indicating short-term holders are still selling at a small loss around the break-even point. The analyst believes that while the underlying market structure is improving, stronger spot demand is urgently needed to fuel a sustainable rally. He advised investors to closely monitor three key signals moving forward: the trajectory of the Coinbase Premium Index, changes in exchange net flows, and whether the STH-SOPR can successfully rise above the 1 threshold.
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On-chain data for X-Agent is growing rapidly, with x402 payments exceeding 680,000 transactions.
X-Agent’s latest Dune analytics data shows that as of October 20, the platform’s related on-chain activities have reached 1,268,897 transactions, with the number of Agentic Wallets standing at 39,649. Cumulatively, there have been 680,285 x402 payments and 233,188 AI Activity Syncs. Per Dune trend data, X-Agent’s on-chain activities saw clear growth in October, with transactions surging rapidly month-over-month, and x402 Payments also posting notable recent growth. Unlike traditional AI products that primarily track user counts, conversation volumes, and model call volumes, this dataset is particularly noteworthy because AI Agents in the X-Agent ecosystem are gradually generating verifiable, real on-chain economic activities. Through infrastructure such as Agentic Wallets, x402 payments, and AI Activity Syncs, Agents are evolving from mere information interaction tools to economic participants capable of executing tasks, using wallets, initiating payments, and generating on-chain records. This further validates the Agent Economy path X-Agent is advancing: Build → Act → Pay → Verify. From "creating AI Agents" to "enabling Agents to truly execute and transact", X-Agent is working to connect Agent capabilities, on-chain execution, and payment settlement into a complete closed loop. As x402 payments and Agentic Wallet scales continue to grow, the Agent Economy is transitioning from a concept to real network activities that can be directly observed and measured via on-chain data.
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US-listed AI concept stocks give back some of their prior day's gains in pre-market trading, with SKHY falling 3.95%.
According to market data from BIT (bit.com), US-listed AI concept stocks gave back part of their gains from yesterday in pre-market trading. Optical module stocks: COHR fell 2.22%, LITE dropped 2.09%, AAOI declined 3.66%, NOK fell 1.21%, and MRVL dropped 2.04%. Storage stocks: SKHY fell 3.95%, STX dropped 0.76%, WDC declined 2.06%, SNDK fell 2.13%, and MU dropped 2.18%.
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MiniMax M3.1 Flash Faces Ranking Manipulation Controversy: Near Full Score on Old Questions, Almost Zero Score on New Ones
Beating AI Express News reports that large language model (LLM) evaluation blogger "Cat Boss" discovered during testing of MiniMax M3.1 Flash that the model scores nearly full marks on old questions but almost zero on new ones. On average, the model consumes tens of thousands of tokens per question, though it only uses around 10,000 tokens to answer some difficult questions correctly. This anomalous performance has sparked suspicion that the model may have memorized answers to some questions in advance.
Cat Boss maintains the private "Zhizhi" LLM leaderboard, using a non-disclosed test set focused on evaluating logic, math, and coding capabilities. The test set typically includes no more than 28 questions and 270 test cases, with partial questions updated monthly. Each question is tested three times, and both the highest and median scores are tracked.
The median score for M3.1 Flash reached 51.76, more than double the previous generation M3's 23.86, and is close to DeepSeek V4.1 Flash 1017's 56.03. Some developers suspect the model was specifically trained on old questions rather than truly mastering problem-solving methods. This practice of optimizing models solely to improve evaluation scores is known as "Benchmaxxing".
6 minutes ago
Revolut experiences widespread service outage, affecting app and physical card payments.
According to a report from The Independent, UK digital bank Revolut has suffered a widespread service outage, including limited app functionality and users being unable to make offline payments using physical cards. In response, Revolut stated that it is currently experiencing a service outage affecting multiple features, some services may be temporarily unavailable, and its engineering team is working at full capacity to restore full service as soon as possible.
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Cysic: Mainnet operations remain unaffected, cross-chain bridges are still suspended.
Cysic released a service status update on social media, noting that the Cosmos blockchain explorer is temporarily unavailable, though Cysic’s mainnet operation remains unaffected. The team is working to restore access to the explorer as quickly as possible. Following the recent security incident, the cross-chain bridge remains suspended. Funds linked to pending cross-chain transactions are still secure in the cross-chain bridge contract; once the bridge is fully restored to a secure state, pending transactions will be processed.
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