Total net inflow into U.S. spot Bitcoin ETFs exceeded $2.3 billion this week.

Crypto trader Ansem stated that airdrops remain one of the strongest catalysts driving users and trading activity back on-chain. During the previous market cycle, trading terminals recorded massive trading volumes, yet many of these platforms have still not offered rewards to their users. Ansem argues that as competition between platforms to secure traders intensifies, rewarding early users will prove an effective means of building user loyalty and retaining liquidity. Past experience demonstrates that well-timed airdrops can unlock substantial on-chain activity, and he anticipates this strategy will reemerge in the current cycle.

According to DefiLlama data, Circle's public chain Arc has reached $494 million in DeFi total value locked (TVL) 10 days after its mainnet launch. It grew 44.52% over the past week, ranking first in growth rate among top blockchains. In terms of DEX trading volume, the network recorded $55 million in trading volume in the past 24 hours.

According to monitoring by Onchain Lens, trader MK4 (@mk4_lul) currently holds open positions worth $43.63 million, with an unrealized profit of approximately $12.95 million. His largest position is a long NEAR trade: ? Holding 5.84 million NEAR tokens, valued at roughly $28.48 million; ? Average entry price: $2.35; ? Unrealized profit: ~$14.74 million; ? Cumulative historical profit and loss: ~$57.04 million (from spot and perpetual contracts).

Ethereum founder Vitalik Buterin wrote in a post that he is testing a community-developed offline local knowledge application for mobile devices. The app works significantly better than the version he built himself two months ago, though it still lags behind models running on laptops in solving challenging problems. His evaluations included queries such as "the best vegan restaurant in my current city"—notably, all such apps currently perform poorly on travel-specific questions. Buterin thanked the relevant developers, expressing anticipation for further improvements and hoping to soon be able to query any world facts he cares about without an internet connection.

Ethena (ENA), a synthetic USD protocol, announced in an official statement that token incentives linked to the growth of its USDe stablecoin have fallen by roughly 85% since its first airdrop in 2024. All token incentives and inflation related to USDe will be fully discontinued by the end of this month, with no further distributions to follow. The project thanked all users who participated in growing the product to its current scale. Per HTX market data, ENA is leading today’s altcoin rally, hitting $0.28. On September 25, Ethena revealed a partnership with Binance to expand USDe’s basis trading strategy from crypto perpetual contracts to stock perpetuals. The strategy involves spot purchases of bStocks—tokenized stock certificates issued by Binance’s affiliates—to hedge short positions in USDT-denominated stock perpetuals on the same platform. For further analysis, see "Behind ENA’s Surge: What’s the Impact of Ethena’s Expansion to US Stock Perpetuals?"

According to OnchainLens monitoring, a whale address withdrew 28,000 HYPE tokens from HTX less than an hour ago, valued at roughly $2.57 million, before transferring them to a multi-signature wallet.