Powerpei

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I’ll make another push this afternoon 🧧🧧🧧

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Today is the fifth day of voting.
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Privacy coins are performing well overall today, with ZEC leading the sector. It’s up around 9%–11% over the past 24 hours, bringing its price to around $1,260 and its market cap to over $21B.

The main driver is anticipation surrounding the NU7 network upgrade. The upgrade will cut block times from 75 seconds to 25 seconds, making confirmations three times faster. The fee distribution mechanism will also be adjusted. Mainnet activation is targeted for November 5, and the testnet is already running.

There’s always demand for privacy-focused assets. ZEC’s ability to rally independently while most major coins are still trading sideways shows that the market is assigning a fair amount of premium to expectations for this upgrade. But whether it can hold these levels will depend on whether on-chain activity picks up after the upgrade...
For now, let’s keep watching.

The above reflects my personal opinion and does not constitute investment advice. Please refer to official sources for the data.
$ZEC

Everyone, if you see this, please vote for me—I’d be so grateful! If there’s anything you need help with, just DM me. If you have any questions, I’m happy to help with anything.

Quack AI (Q) jumped 40–50% today, with the price surging to around $0.16 and its market cap reaching $700–800 million. Trading volume has also picked up.

The project focuses on on-chain payments and authorization for AI agents. Through Q402, agents can settle in stablecoins across multiple chains without holding native tokens, effectively removing the friction of agents having to pay gas themselves. This is a very real pain point.

But honestly, I haven’t seen any clear product launch or partnership announcement behind this rally. It looks more like a combination of rotating interest in the AI agent narrative, short liquidations, and momentum-driven buying...

The price has already priced in a lot of the narrative. The key question going forward is whether this can translate from speculative rotation into real agent usage and settlement volume. Otherwise, this could just be another rally that fades when sentiment cools.

These are my personal views and not investment advice.
$Q

The former head of PayPal AI Payments has moved on
Not to Stripe, not to Square
But to a crypto project building payment infrastructure for Agents

That choice alone is a signal

When Circle launched the Arc mainnet last month, it shared a figure: USDC accounted for 98.8% of Agent transaction volume

Agent-to-Agent payments are already happening, almost entirely in USDC
But who manages how Agents spend, how much they spend, and what happens if they exceed their authority?

//

@KITE AI 中文 is building exactly that layer

A three-layer identity architecture

➢ Users set budgets and boundaries
➢ Agents act within those constraints
➢ Each session gets temporary permissions

Go over the limit and the transaction is rejected. Permissions can be revoked anytime, and everything is verifiable on-chain

I took a look at the list of partners. It’s impressive

One of the first agentic economy partners on Circle Arc
A community partner of Google’s Agent Payments Protocol, alongside Mastercard, PayPal, and Shopify

The first AI Agent-focused member of the Avalanche Payments Collective, alongside Paxos and Franklin Templeton

The product lead is the person mentioned earlier, recruited from PayPal AI Payments

They recently launched a use case
The new version of Agent Passport supports automatic Aave USDC repayments on Base

Set a threshold and amount, authorize it once, and it executes when the conditions are met

Limited actions within preset rules, fully auditable from start to finish

//

Of course, there are still questions

If an Agent makes a mistake, an audit can prove it didn’t exceed its authority—but the money lost is still yours

What happens if thousands of Agents compare prices, place orders, and rebalance portfolios at the same time, and they all go off course? No one has a good answer yet

Standardization is also still a long way off
Kite supports multiple chains and protocols, but there’s no common standard yet for settling across chains or deciding who handles disputes

//

The future of the Agent economy probably won’t involve handing the keys to AI
More likely, AI will get a temporary card with a spending limit that can be frozen at any time.

Kite is the most complete implementation of this idea I’ve seen so far
Identity, authorization, settlement, and auditing—all connected in one end-to-end flow
I’ll keep watching this space.

These are independent observations based on publicly available information and do not constitute investment advice.

#KiteBBW $KITE @KITE AI 中文

Anyone who trades on-chain knows how frustrating this can be: you place a stop-loss order, and before it even gets triggered, someone has already spotted it. Pull up a liquidation map and you’ll see the stop-loss levels of thousands of traders laid out in plain sight. Stop hunts work precisely because all this information is transparent. It’s not that someone leaked anything—that’s simply the cost of transparency on a blockchain...

So is it possible to make your trading intentions completely unreadable until they’re executed? That’s what I found most interesting while researching @Nillion recently. After reading about it, I went ahead and bought 500U worth of $NIL spot to start building a position.

Most privacy projects focus on hiding the transactions themselves—the amounts, senders, assets, and so on. But Nillion takes a different approach: it focuses on the intent behind a transaction. Your orders, the conditions you’re waiting for, your strategy—all of this is normally transparent on-chain. Nillion’s core product, Covenants, is designed to solve this problem.

A Covenant is an encrypted instruction. You specify an action—such as selling at a certain price, placing a bid in an auction, or releasing a payment at a certain time—then seal it and bind it to a condition before sending it on-chain. While it remains encrypted, nobody can see its contents. Once the condition is met, it automatically opens and executes. There’s no need to run a bot, use a keeper service, or rely on a third party to hold it for you and promise not to peek.

There are already plenty of potential use cases: stop-loss orders that nobody can hunt, bids that stay sealed until an auction ends, proof that you made a prediction before an event happened, and payments that are automatically released at a set time. These are all essential for large-scale operations and protecting strategies.

Dusk is already live on Ethereum mainnet. This is a real mainnet launch, not a testnet—you can create Covenants, run nodes, and build with the SDK right now. Dusk is only the first of the seven eras in Nillion’s roadmap. More releases are expected before the end of the year, and the next six eras will continue to expand what the platform can do. What we’re seeing now is still just the earliest version.

500U isn’t much, but I wanted to get involved early and see how things develop. I’ll keep an eye on the roadmap and share more as things progress.

#NIL $NIL @Nillion

The broader market is still seeing weak, choppy trading today, with major coins under pressure. But a few small- and mid-cap coins have been moving independently, which is pretty interesting.
The clearest example is $WAL (Walrus), a decentralized storage project in the Sui ecosystem. Both its 24-hour trading volume and price gains have been strong, with obvious signs of concentrated inflows. The move has been driven mainly by the narrative around AI data infrastructure. However, there is still unlock pressure ahead. For now, the rally seems largely driven by the narrative and concentrated trading, while real demand has yet to be proven. A sharp price rise and a proven investment thesis are two different things...
There’s also been activity in a few other areas. AI Agent-related tokens like Quack AI (Q) continue to attract attention, while Bitway (BTW), with its relatively large market cap, has also appeared on the trending list. In areas like storage, AI, and privacy, ZEC and STRK have also put in decent weekly performances, so there’s some interest in pockets of the market.
Overall, today’s action is driven by selective themes rather than a broad-based rally. When the wider market is weak, capital tends to concentrate in assets with a compelling narrative and strong trading volume. But when sentiment fades, prices can fall just as quickly. For WAL, the key things to watch are whether trading volume can hold up and whether product development can keep pace—don’t focus only on its one-day gain.
The above is purely market commentary and my personal opinion, not investment advice. Markets move quickly, so please do your own research.

Today I came across a pretty wild meme coin, Doge Pepe (DOPE), which combines two classic meme characters, Doge and Pepe. The craziest part is how it supposedly came about: someone apparently used the wrong API while generating images with AI and accidentally created it, spending around $1,900 in the process. And just like that, it became a meme coin...

It’s up around 100% in 24 hours, with a price of around $0.025 and a market cap of about $25M. It’s pure meme with no real utility—the kind that’s exciting on the way up, but won’t warn you before it drops.

One more reminder, folks: there are several tokens with the same name on the market, especially on Solana. Be sure to verify the contract address before getting involved, or you might end up buying the wrong one and have nowhere to turn when things go south.$DOGE

XDP is definitely the hottest token on Base today. Its trading volume has topped $100 million, while its market cap is only a little over $20 million—that ratio looks pretty wild.

From what I can tell, it’s basically a project built around XRP yields. After the token launched on Base, it got caught up in the hype.
Trading is very active, with buying and selling roughly balanced, but liquidity in the pool is only around $2 million. At this volume, the price could get hammered at any moment.

In my view, this looks more like short-term capital chasing a hot trend on Base than something backed by deep fundamentals.
The hype is real, but if you’re thinking of getting in, weigh the risks for yourself. Don’t get carried away just by the trading volume.

A hundred billion in market cap evaporated in a day. On Friday, every headline screamed “SpaceX declares war on telecom.”
T-Mobile fell 13%, and the comments section was already writing the telecom operators’ obituaries.

But I noticed one detail while watching the market: tower companies were up.
Crown Castle and American Tower—both rose that same day.

If satellites were really going to wipe out cell towers, tower companies should have fallen too.
The fact that they rose suggests investors are betting that ground infrastructure won’t disappear—but the people collecting rent on it might be replaced.

//

Starlink Mobile has secured low-band spectrum, giving it the ability to reach indoors.
But its bandwidth is narrow and latency is high; it’s still a long way from replacing the everyday mobile experience.

But it doesn’t actually need to replace it. It only needs to convince the market that “replacement is possible” for telecom operators’ valuations to collapse. You can’t defend against an opponent that doesn’t need cell towers by simply building more cell towers.

Friday was the teaser. But that teaser was already worth a hundred billion.

#SPCX $SPCX

There’s one thing I most want to know this earnings season: after the giants have poured so much money into AI, can their balance sheets actually handle it?

For more than a year, cloud providers and AI labs have kept ramping up capital spending.
GPUs, HBM, advanced packaging, optical modules, data center power—the whole supply chain has been lifted by this spending.

It no longer matters how compelling the story sounds.
Now we need to see how much of that money comes back after it’s spent.

Earnings reports start coming thick and fast in the second half of October.
➢ Around the 21st and 22nd: IBM, Tesla, and Intel
➢ On the 28th: Microsoft, Google, and Meta all report on the same day
➢ On the 29th: Apple and Amazon
I’m most interested in the group reporting on the 28th.
If Microsoft, Google, and Meta keep raising their capex guidance without squeezing cloud margins, the case for the hardware and power supply chains will remain solid.

On the other hand, if spending growth slows, or free cash flow comes under significant pressure,
the first to be sold will be the high-valuation stocks propped up by a narrative.

//

As it happens, FOMC is also that same week, on the 27th and 28th.

Long-term yields are already at multi-year highs.

Oil prices have climbed back toward $100 on geopolitical concerns.

If the meeting minutes or dot plot remain hawkish, and oil prices stay elevated, real interest rates will be hard to bring down.

Tech stocks are already stretched on valuation; add this on top and volatility will be high.

━━━━━ • ━━━━━

The direction of money has actually become clear lately:
it’s moving toward areas with real supply-and-demand bottlenecks.
Memory, especially HBM and scarce DRAM; data center power; independent power producers and nuclear power; optical modules; advanced packaging. These areas have long order visibility and strong pricing power. They won’t be afraid of questions about where the money went this earnings season.
Companies relying purely on the AI story, but without capacity or locked-in customers, will be most vulnerable to repricing when earnings pressure and interest-rate pressure hit at the same time.
——
My view is this:
this earnings season will separate the winners from the rest.

Companies that can deliver orders and cash flow will keep attracting capital.
Those that can’t will give back some of the gains they made in recent months on the back of a narrative.
Tech stocks as a whole will be more volatile in the short term, especially with FOMC and earnings landing in the same week.
But volatility doesn’t mean the trend has reversed.
The long-term AI capex cycle isn’t over; we’ve just entered the phase where companies have to show me the numbers. Three reports come out on the 28th.
The amount of information that night could determine where things go over the next month.$IBMB

TOKEN2049 Singapore, October 7–8. A few unlocks—just so happen to get stuck right around here

The days when institutions, market makers, and the most concentrated attendee funds are present are also when supply is the most concentrated

On October 1, $SUI unlocks about 13.26 million tokens; the circulating ratio is roughly 0.32%, worth about $16.7 million

On the same day, $EIGEN unlocks about 36.82 million tokens; circulating ratio 5.19%, about $10.3 million

On October 2, $ENA releases about 40.63 million tokens following a monthly rhythm; circulating ratio 0.45%, about $11 million

The amounts aren’t particularly extreme
But when a few happen to overlap and coincide with a major event, time itself becomes an amplifier

—

ENA, one more thing to add

After the tokenomics was adjusted in August, the remaining investor allocation that was originally scheduled for March 2028 was moved up and released all at once on October 5

The market’s figures are roughly 1.41 billion tokens; plus the total of regular allocations for core contributors, it brings the number to about 1.5 billion tokens. The headline numbers are really scary

But StablecoinX’s roughly 3.03 billion tokens are locked up and, although they reach maturity in the same period, selling is still constrained by the foundation’s approval rights and preferential purchase rights

The actual amount that can enter the market is much smaller than the headline suggests

EIGEN’s next unlock is about 38 million tokens around October 11, still at the tail end of the conference week

//

“Unlocking doesn’t mean dumping”—we’ve said this many times, but you also can’t treat it like a get-out-of-jail-free card

The circulating share of SUI and ENA’s regular allocations is already not high; some early holdings may have been repurchased by the foundation or pre-hedged

What really matters is whether wallets send tokens to exchanges, how the funding rate moves, and whether the distribution of orders on the order book changes. Those expectations should first show up there

If the conference news is heavily positive, it won’t be hard for buy-side demand to eat through sell pressure. If the narrative is bland, then the same supply turns into a distribution window

Time overlap amplifies sentiment—not the tokens themselves.

Pudgy Penguins’ parent company, Igloo, announced it’s shutting down Abstract, a consumer-focused L2 on Ethereum. Its mainnet will shut down on December 15, just over a year after launch.

The numbers don’t look too bad:
400,000 users, more than 140 apps, and partnerships with Disney and Red Bull Racing.
Hundreds of millions of transactions.

But Luca Netz himself said they burned tens of millions of dollars over the past 18 months.
Growth stalled, liquidity was thin, and the DeFi ecosystem never took off. Subsidies couldn’t keep things going.

No token, no ICO.
Just a straightforward shutdown.

There’s still around $47–48 million sitting on-chain.

Users need to bridge their assets out before December 15. After that, they won’t be able to access them.
If you have assets there, don’t wait.

All resources are being redirected to the Pudgy Penguins brand and PENGU.
On the day the news broke, PENGU fell around 5.6%, to about $0.009.

In the short term, this narrows the narrative. The “own chain” premium is gone, and PENGU has one less part of its story.

In the medium term, it’s about where the savings go:
Will they really be invested in the brand and token utility, or is this just a way to stop the bleeding?

Honestly, I don’t think shutting down the chain itself is anything to criticize.
If you can’t afford to keep it running, shutting it down is better than keeping up appearances.
But what will support PENGU’s valuation now that the chain is gone? That’s the question that’s finally on the table.
$PENGU

The Nasdaq hit another record
The forces behind it are clear
AI and computing power are leading the charge
Investors’ stance is direct:
Set high interest rates aside for now, and put oil-price jitters aside too. It’s all in on one theme: computing power, models, and infrastructure.

Nvidia rose about 2.1%, bringing its market cap to $5.76 trillion
The market has been talking about the $6 trillion mark for a long time. Now it’s visibly getting closer

It was still the S&P 500’s biggest single driver of gains on the day. The narratives around chip demand and capital spending remain intact

Microsoft, Meta, and Tesla were generally up more than 1%–2%, with the Magnificent Seven broadly strong

Expectations for AI orders and applications are still sustaining valuations

//

Three threads made me stop and take notice today
SpaceX rose more than 7%
Morgan Stanley reiterated its Overweight rating and $300 price target, saying the valuation looks low ahead of Starship’s 15th test flight
The pricing logic is changing
The market is starting to assign it three labels at once: launch services, satellite communications, and AI computing infrastructure
When one stock carries three narratives, investors are willing to chase it

TSMC strengthened, amid discussions about a partnership with Elon Musk’s Terafab chip factory

Advanced-process capacity meets a hyperscaler’s self-built wafer fab
If a deal really comes together, it would directly address the bottleneck in AI computing supply. Cerebras attracted buyers
Altman called it a
close partner

With OpenAI’s endorsement, attention shifted from general-purpose GPUs to specialized chips and alternative architectures.

//

With all three threads converging, today’s market action wasn’t about the gains. It was about
a shift in pricing logic

Nvidia’s market cap is nearing $6 trillion, and consensus is solidifying

SpaceX is being repriced as an AI infrastructure asset, with its set of labels expanding

Terafab and Cerebras have moved self-built fabs + specialized chips
from narrative to concrete partnership discussions
A new variable on the computing-power supply side is starting to take shape. From models to chips to wafer fabs, investors are buying further and further down the stack
The ability to build computing power at the physical layer is now just as valuable as the models themselves.
$SPCXB

The most notable move among major-cap coins today is $ADA

Up roughly 10% to 11% in 24 hours, with the price near 0.27. That’s a 90-day high and one of its strongest daily performances since May.

Trading volume was about $1.09 billion, nearly twice the 30-day median. This wasn’t a thin-market pump.

Two catalysts came together:

RealFi launched on mainnet on October 1, bringing tokenized real-world assets and the USDr stablecoin to Cardano. They’re available on Lace, Liqwid, and SundaeSwap.

That same day, Hoskinson brought scaling back into the spotlight with #LeiosIsComing.

Linear Leios testnet throughput is roughly six times the mainnet’s current capacity, while the mainnet target remains the Dijkstra hard fork at the end of the year.

The price broke out where these two narratives converged—not simply because it was following the broader market.
$ADA

Today I’m focusing on just one thing
ENA

Not because it’s been surging
It’s because the investors’ vesting line was cut off early today

The original plan was to release roughly 78 million-plus tokens each month, gradually through March 2028

By the end of August, the rules changed. The remaining batches for about 17 months were consolidated and released all at once today

Working backward, that’s about 1.41 billion tokens—around 14% of the circulating supply

The foundation hasn’t officially stamped and confirmed this figure
Another calendar used on the market only shows 170 million tokens for regular monthly releases
But what the market is trading today is the previous expectation.

//

On the same day, there’s also a second layer

StablecoinX holds about 3.03 billion tokens, accounting for 20% of the total supply. The contract lock-up was also lifted today

But this is not a dump that can be done casually

Selling and transferring require the foundation’s written approval, and operational needs must be notified five business days in advance. The foundation also has the right of first purchase

What can actually be put on the market immediately is mainly the investors’ portion whose vesting ended early, plus the team’s monthly batches released as usual.

——

The idea is simple

They want to release it all at once, to replace the supply uncertainty hovering over each month for more than a year into the future

But the shadow hasn’t disappeared
It’s gone from a slow drip to concentrated delivery landing today

Unlocking doesn’t automatically mean a sell-off
What I’m looking at is whether wallets are moving toward exchanges, and whether there’s actual trading
The team and foundation’s monthly releases still need to continue until 2028
Today is the endpoint of the investors’ line—not the endpoint of supply.

$ENA

HYPE unlocked on October 6
The calendar says about 9.92 million tokens, roughly over $800 million— the largest single deal across the market in October

But don’t just look at the calendar
In the past few months, Labs has actually un-staked per month roughly between 140,000 and 530,000 tokens. That’s completely different from 9.92 million—nothing on the same scale

This time is a bit different
On September 30, Labs un-staked 3.75 million tokens at once—about 7 times the monthly average. The co-founder said it was done with institutions via OTC, not through the public market. The buyer, price, and lock-up period were not disclosed

——

First look at the claims and transfers—don’t focus on the nominal value

It’s not the first time that “available to claim” has been much larger than “truly claimed.”
The OTC just delayed supply, it didn’t disappear. There was still a volatility window on the 6th to 7th, but the unlock isn’t automatically a bearish signal.
$HYPE