🌙 Night-time Recap | October 4, just after midnight
The biggest crypto-industry drama tonight: Paradigm's bet on the Ethereum L2 $BLAST has officially announced its shutdown. At its peak, on-chain assets hit $2.2 billion; now it’s down 98%. The official statement is blunt: "Operating costs have exceeded revenue," with no sustainable business model found. Bybit will delist BLAST spot and perpetual contracts today. In the chaotic L2 battlefield, projects without real revenue—zeroing out is only a matter of time.
On the other side, institutions are quietly scooping up: BlackRock’s IBIT bought another $196 million of $BTC yesterday, and over the past month alone, net purchases totaled $1.57 billion. $BTC is ranging around $84,000—retail can’t hold out, but institutions keep stocking.
Two more notes before bed:
🔹 The SEC approves the first batch of 3x leveraged BTC/ETH ETPs—an era of high volatility is here
🔹 South Korea plans to move a $5T-level stock market on-chain using Avalanche; $AVAX landed a national-level order
Market education always arrives late, but it never misses. Good night.
NFA | DYOR
#比特币 #以太坊 #L2 #贝莱德 #AVAX
The biggest crypto-industry drama tonight: Paradigm's bet on the Ethereum L2 $BLAST has officially announced its shutdown. At its peak, on-chain assets hit $2.2 billion; now it’s down 98%. The official statement is blunt: "Operating costs have exceeded revenue," with no sustainable business model found. Bybit will delist BLAST spot and perpetual contracts today. In the chaotic L2 battlefield, projects without real revenue—zeroing out is only a matter of time.
On the other side, institutions are quietly scooping up: BlackRock’s IBIT bought another $196 million of $BTC yesterday, and over the past month alone, net purchases totaled $1.57 billion. $BTC is ranging around $84,000—retail can’t hold out, but institutions keep stocking.
Two more notes before bed:
🔹 The SEC approves the first batch of 3x leveraged BTC/ETH ETPs—an era of high volatility is here
🔹 South Korea plans to move a $5T-level stock market on-chain using Avalanche; $AVAX landed a national-level order
Market education always arrives late, but it never misses. Good night.
NFA | DYOR
#比特币 #以太坊 #L2 #贝莱德 #AVAX