Your weekly crypto digest is here: market shifts explained, top news unpacked, and one coin spotlighted for your radar.
Bitcoin dropped below $108,000 early Monday in Asian trading, ending the “Uptober” optimism and continuing last week’s market pullback. Sentiment stayed cautious after Fed officials signaled rate cuts may take longer than hoped.
Astar has been experiencing significant volatility after surging nearly 20% earlier this week. The move followed reports that Binance founder Changpeng Zhao purchased 2 million ASTR tokens, which fueled a spike in speculative demand.
DeFiLlama data indicates that within just 24 hours, trading volume jumped almost tenfold — from roughly $224 million to more than $2 billion — while the project’s market cap grew from about $1.8 billion to nearly $2.5 billion.
This dramatic rise in activity has placed Astar firmly in focus as traders look to see whether the momentum sustains or cools off in the short term.
Four crypto ETFs made it to market this week through a regulatory workaround.
The issuers relied on a procedural rule that causes filings to become effective automatically after a set waiting period unless the SEC intervenes. This enabled the launches even during the ongoing approval slowdown.
Since the SEC didn’t intervene, four crypto ETFs were able to launch this week by default.
That success has encouraged others to file. Fidelity updated its Solana ETF filing, and Canary Capital did the same for its XRP ETF.
If the SEC doesn’t block the process, the first XRP ETF could launch as early as November 13.
However, this shortcut might not work for every crypto ETF.
The SEC has already looked at filings for Solana, HBAR, and Litecoin ETFs, but it hasn’t reviewed the XRP one closely yet. That could give the SEC a reason to step in and pause its automatic approval.
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