● Analyst: Bitcoin demand grows at fastest rate since April 22
According to TechFlow, on October 12, CryptoQuant analyst Julio Moreno posted on the X platform that Bitcoin demand seems to be recovering. Bitcoin demand is growing at the fastest monthly rate since April 22. Although demand momentum is still in the negative range, indicating that selling volume still exceeds buying volume, the degree of this imbalance has eased.
● SUI rose 10.8% in the past 24 hours, reaching a new high
According to PANews, market conditions show that the popular token Sui (SUI) has risen 10.8% in the past 24 hours and is now trading at $2.28, a record high.
● Sui Network TVL reaches $1.378 billion, a record high
According to BlockBeats, on October 12, according to DefiLlama data, Sui Network TVL reached $1.378 billion, a record high. Lending agreement NAVI Protocol TVL reached $493.65 million, a weekly increase of 1.41%. Lending platform Suilend TVL reached $256.38 million, a weekly increase of 13.41%. Lending agreement Scallop Lend TVL reached $245.33 million, a weekly increase of 2.21%.
● USDT balance on cryptocurrency exchanges increased by 146% to a record high
According to TechFlow, on October 12, Onchain HQ research director Leon Waidmann published an article on the X platform, showing that the USDT balance of major cryptocurrency exchanges increased by 146% to $22.7 billion, a record high. Waidmann pointed out that from historical data, this usually indicates that Bitcoin and the entire crypto market are about to usher in strong buying power.
● DWF Labs co-founder said the Meme coin market is mature and stable
According to TechFlow, DWF Labs co-founder Andrei Grachev said in an article on X: "The Memes market has become a mature and stable part of the industry. It takes advantage of extreme fear and greed, allowing smart investors and traders to make huge fortunes. DWF Labs institutionalized investment in Meme coins a few years ago, and this remains one of our priorities."
● El Salvador accepts $940 million debt buyback offer
According to Odaily Planet Daily, Salvadoran President Nayib Bukele announced on the X platform that the country has accepted a debt repurchase offer totaling approximately US$940 million.
Analysts believe that El Salvador’s debt buyback could have a positive impact on the price of BTC, enhancing the country’s ability to support BTC investment and positioning itself as a stronger advocate of cryptocurrency.
