At TOKEN2049, the head of BitMine said the company has nearly finished buying Ethereum: it now holds 6.016 million ETH — around 4.9% of the total supply. Once it reaches 5%, BitMine will stop buying altogether — Lee called that mark a “hard limit.”
And most interestingly, explaining the decision, he said the company is wrapping up its accumulation “ahead of a 25x move.”
In his scenario, the crypto market is only just entering a new supercycle, while the tokenization of traditional assets and the rise of AI agents will be among Ethereum’s main drivers. $ETH $USDC
Billionaire Ray Dalio believes the artificial intelligence bubble will soon burst. This is due to rising interest rates and investors needing to convert virtual wealth into cash to cover massive debts. $TAO
The Abstract team, the Ethereum L2 backed by the owners of Pudgy Penguins, announced that the network will shut down on December 15, 2026
The reason is rather mundane: growth has stalled, liquidity is low, there’s almost no institutional demand, and maintaining the network costs more than it earns. Igloo has already lost tens of millions of dollars on the project
This is the second notable L2 in a week — earlier, Blast announced it was shutting down $ETH $PENGU $USDC
🟠 Grok predicts Bitcoin could reach $1.5 million by the end of 2026
Elon Musk’s AI model Grok has issued a forecast: in a full-fledged bull market scenario with a strong catalyst, Bitcoin could reach $1.5 million by the end of 2026.
A reminder: AI forecasts are neither analysis nor trading signals. Grok generates probability-based scenarios from patterns, not real market data. These figures shouldn’t be treated as a benchmark. $BTC
🏛 Ray Dalio: A U.S. debt crisis could hit in 3 years
Bridgewater Associates founder Ray Dalio told Bloomberg that the U.S. could face a debt crisis within three years. According to him, the cost of servicing the national debt is crowding out other federal budget items, and the bond market is already reflecting this pressure.
This is an important macroeconomic backdrop for the crypto market: historically, rising debt burdens and declining trust in fiat systems have increased interest in Bitcoin as an alternative asset. $BTC $USDC
📢 Ripple sets its sights on Turkey’s $200 billion crypto market
Ripple has announced a strategic interest in Turkey’s crypto market, valued at $200 billion. The company links its plans to pressure on the Turkish lira and growing demand for dollar-pegged stablecoins among local consumers and businesses.
According to Ripple, Turkish banks are gaining access to crypto custody services amid changes to local regulations. Institutional players are following retail users, who are actively using crypto to protect themselves against the lira’s depreciation.
Ripple sees Turkey as a key market for promoting dollar-pegged stablecoins and crypto solutions for banks. $XRP
🛢 The world’s available oil reserves are nearly depleted
Saudi Aramco chief Amin Nasser warned that the crisis around the Strait of Hormuz has already deprived the market of nearly 3 billion barrels of supply. About 6 billion barrels remain in storage, but most of these reserves, he said, are practically inaccessible to the market.
Even after the Strait of Hormuz fully reopens, replenishing reserves could take up to two years if demand remains at normal levels. $AAVE $SOL $LTC
🕯Sam Altman, CEO of OpenAI, noted that society will need to accept some negative consequences of AI development in order to benefit from its advantages. $OPENAI $WLD
🐸 Canary Capital обновила заявку на PEPE ETF в США
Company Canary Capital submitted an updated registration form for a PEPE memecoin-based ETF on October 2. This is another step toward a possible product launch.
Bloomberg ETF analyst Eric Balchunas called the filing “another sign that crypto winter is over.” Memecoins are reappearing in the US ETF pipeline—PEPE became one of the first memecoins for which such an application was officially filed in the United States. $PEPE
Trump raises the stakes: all Americans will get $5,000 if Republicans win the congressional elections 💸
Earlier, Donald promised $5,000 only to adult U.S. citizens. Now everyone will get the money, bringing the total payout to $1.58 trillion.
The odds that Democrats will win majorities in both chambers of Congress are currently 64%, so Donald has a good chance of saving $1.58 trillion and getting a third impeachment $TRUMP $WLFI $USD1
❤️ 2025 (ISM 48.9): The economy stalled; BTC and ETH grew on ETFs, but the altseason didn’t start
❤️ 2026 (ISM 54): An index above 50 creates conditions for liquidity
An ISM above 50 indicates manufacturing expansion. Since the beginning of 2026, this indicator has been consistently staying above 50, signaling business profitability and rising economic activity. This could lead to liquidity flowing first into traditional markets and then into cryptocurrencies, as happened in 2017 and 2021. $BTC $ETH $USDC
🇪🇺 Europe is investing in a quantum internet prototype—a network where attempts to intercept data can be detected by changes in the quantum signal.
Over the next 42 months, engineers plan to connect urban networks using quantum repeaters and test whether this technology can be scaled over long distances. $BTC $ETH $USDC