- Robinhood’s Q3 crypto revenue fell 55% to $120 million as event contracts leapt.
- Wallets with at least 10 million XRP now control 68.5% of supply, per Santiment.
- One ICO whale finished selling 200,000 ETH, turning $62,000 into $273.6 million.
The global crypto market cap rose 1.5% to $2.81 trillion over the past 24 hours. Bitcoin traded at $80,905.62, up 1.6% on the day but down 2.1% over the past week. Ethereum changed hands at $2,353.51, up 2.0% in 24 hours and down 3.6% over seven days.
BNB rose 1.0% to $745.34, up 0.8% weekly. XRP gained 2.9% to $1.33, up 0.1% over the week. Solana rose 1.7% to $101.76, down 4.1% over seven days.
SoSoValue data showed the meme sector up 3.78% and the NFT sector up 3.32%, with Pudgy Penguins gaining 4.10%.
Trending Searches
Pepe led trending searches, up 12.8% to $0.000004863. Pearl fell 6.1% to $1.66, while Pons climbed 21.8% to $0.2927. Among top gainers, HoodPork surged 133.8% to $0.03545, Infinity Ground rose 116.3% to $0.1584 and Super Inu gained 58.7% to $0.01597.
Washington and Ripple Swell
Treasury Secretary Scott Bessent told the Ripple Swell conference that the Treasury will work with the SEC and CFTC to build a crypto framework through agency action. He said this approach is needed after Congress failed to pass the CLARITY Act. Bessent also said more than 90% of stablecoins are dollar-backed and that wider adoption could lift demand for US Treasuries.
The crypto industry has spent about $176 million in the midterm cycle. Fairshake and its affiliated PACs accounted for about $150.8 million of that as of October 20. Of the 58 candidates Fairshake backed in primaries or special elections this year, 53 won.
XRP and RLUSD Adoption
Ripple and Robinhood announced a partnership that makes RLUSD a core stablecoin across Robinhood’s platforms. RLUSD is already live on Robinhood Chain and Bitstamp and will reach the Robinhood App later this year. BNY added XRP and RLUSD to its digital asset custody platform and plans to let clients mint and redeem RLUSD directly.
Santiment said wallets holding at least 10 million XRP now control 68.5% of supply, the highest share since November 2022. The firm named $1.30 as the near-term pivot for XRP and $1.50 as a stronger confirmation level.
Whale and Treasury Moves
Data shows wallets labeled as Justin Sun’s, plus one address it attributes to him, hold about 2.82% of PEPE supply, worth roughly $51 million. The tokens were withdrawn from Poloniex on October 17 and 26. Between October 15 and 25, Sun moved $77 million in stablecoins to the exchange.
Yu Jin said an ICO-era whale sent its final 7,594 ETH to Kraken, completing its exit from a 200,000 ETH allocation bought at $0.311 each. SkyAI confirmed it sold all 2 million of its SOL at an average price of $107 and will not buy SOL back.
Data Breaches and Exploits
Coinbase said a security incident at analytics provider Amplitude exposed some customers’ contact details and that its own systems and customer funds were unaffected. SlowMist’s 23pds said the breach covered contact information for more than 70,000 users. Yonhap reported that Bithumb’s internal mobile system was hacked, exposing personal information.
Zilliqa said CEO Alexander Zahnd has resigned and that X-Bridge remains suspended. Predict.fun pledged to fully compensate users after about 400,000 USDT was moved from their wallets without authorization.
Related: Ripple and BNY Explore XRP Ledger to Speed Up Invoice Payments
ETF Flows and Earnings
SoSoValue data showed spot SOL ETFs losing $19.155 million on October 27, all from Grayscale’s GSOL. Robinhood reported Q3 revenue of $1.42 billion, up 12%. Its crypto revenue fell 55% to $120 million, while prediction market revenue rose more than sixfold to $173 million.
Macro and Fed
The Fed announces its rate decision at 11:30 p.m. IST on October 28, with markets expecting rates to stay at 3.75% to 4.00%. SK Hynix reported Q3 operating profit of 83.33 trillion won, up 632.1%, and the KOSPI extended gains to 6%. US stocks closed higher, with the Nasdaq up 1.18%, and Riot Platforms gained 7.09%.
Related: Ondo Brings 15 Tokenized Stocks to Robinhood Chain With Uniswap Pools
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