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Several cryptocurrencies, including Chainlink (LINK), Pepe (PEPE), Uniswap (UNI), and Worldcoin (WLD), could face further selling pressure after a hacker liquidated millions of dollars worth of these tokens.
According to blockchain transaction data shared by Lookonchain, the attacker sold substantial holdings of seven altcoins before converting the proceeds into Ethereum.
Hacker Sells Over $158M in Altcoins
The attacker sold around 7 million UNI tokens worth $39 million at an average price of $5.65 on-chain. ENA followed, with 217 million tokens sold for $33 million million at an average price of $0.16.
Meanwhile, the hacker sold over 7 trillion PEPE tokens for around $32 million at $0.0000041 per token. The attacker also disposed of 2.5 million LINK tokens worth $26 million.
The remaining transactions involved 127,953 AAVE tokens worth $14 million, 21.85 million ONDO tokens valued at $6.62 million, and 17.32 million WLD tokens worth $6 million.
Collectively, the sales converted the seven altcoin holdings into nearly 70,500 ETH, valued at $158 million.
Why the Sell-Off Could Trigger Further Losses
Large cryptocurrency sales can weigh on prices when selling volume exceeds buying demand. Furthermore, substantial liquidations by major holders can unsettle investors and encourage others to reduce their exposure.
Consequently, the hacker’s transactions could intensify selling pressure on the affected tokens as traders react to the possibility of further declines.
At press time, all seven tokens were recording losses over the past 24 hours. UNI had declined 4.38%, while ENA was down 5.57%. Similarly, PEPE had fallen 1.3%, LINK had dropped 3.51%, and AAVE had lost 3.38%. ONDO and WLD were also down 4.02% and 4.2%, respectively.
These declines indicate that the tokens were already under pressure. Nevertheless, it remains unclear whether the sell-off will intensify or whether buyers will absorb the available supply and help stabilize prices.
How the $6.3 Billion Binance Hack Happened
The token sales follow a major security incident involving Binance, the world’s largest cryptocurrency exchange, in which attackers stole $6.3 billion.
Binance stated that the incident did not compromise wallet private keys. Meanwhile, blockchain intelligence firm TRM Labs attributed the attack, with high confidence, to TraderTraitor, a North Korean state-sponsored hacking group.
Recovery efforts have frozen roughly $3 billion of the stolen funds on-chain. However, the attacker’s wallet still holds a reported balance of $5.79 billion. Meanwhile, Binance has reopened deposits but suspended withdrawals, with plans to restore the service within 48 hours. The exchange also pledged to cover unrecovered losses.
Binance Hacker Portfolio
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Finance coach John Vasquez, popularly known as Coach JV, has declared that XRP and Ripple are gaining ground as the company announces new developments in banking, digital asset custody, and stablecoin distribution.
In a video titled “XRP RIPPLE IS ON FIRE,” Vasquez pointed to Ripple’s latest announcements during Ripple Swell, arguing that the crypto industry is moving from regulatory resistance toward greater institutional participation.
“First they resist it, then they sue it, then they regulate it, then they join it,” Vasquez said. “We’re now in regulation and joining phase.”
Ripple Banking Deals Boosting Confidence
Vasquez said Ripple’s recent progress has increased his confidence in the company. He highlighted its final approval from the OCC to establish a national trust bank.
He also pointed to Ripple’s growing partnership with BNY, which focuses on digital asset custody and exploring blockchain uses, such as tokenized trade finance.
Vasquez also mentioned Ripple’s RLUSD stablecoin, including its partnership with Robinhood and its availability on Coinbase, with deposits and withdrawals supported on the XRP Ledger, Base, and Ethereum.
He believes these developments show that Ripple is expanding its presence in both traditional finance and the digital asset market.
Coach JV Says XRP Holders Need Patience
Despite his enthusiasm, Vasquez acknowledged that the growing number of Ripple announcements has not translated into the XRP price levels many investors expect.
“Why isn’t it at 10 bucks? Patience. Patience. Patience,” he said.
He argued that increased institutional involvement must eventually translate into actual utility and transactions before investors can assess the impact on XRP.
“We need the actual utility. We need all the transactions running through it,” Vasquez said, adding that this process would take time.
His comments highlight the distinction between Ripple’s corporate expansion and XRP’s market performance. While new banking relationships, custody services, and stablecoin distribution channels expand activity in Ripple’s ecosystem, their impact on XRP depends partly on whether they generate demand for the token.
XRP Remains Coach JV’s Top Crypto Holding
Vasquez revealed that XRP is his largest cryptocurrency holding, followed by Bitcoin and Solana. He said he is currently buying more of all three.
He noted that he likes buying crypto when the market is fearful. For example, he bought more XRP during Ripple’s SEC lawsuit in 2020, when negative sentiment was high.
Vasquez also shared his plan for the bull market. He intends to sell some of his altcoins as prices rise and move the profits into his Capital DR system, while continuing to hold Bitcoin.
He believes the crypto industry is entering a new phase as more traditional financial institutions get involved, with Ripple well-positioned to benefit.
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Cardano’s real-world asset (RWA) ambitions face a governance test as constitutional objections challenge a proposal to invest over 20 million ADA tokens in physical copper.
Dubbed the #Cardano Strategic Copper Reserve, the proposal was submitted by Toto Finance and seeks to purchase copper cathodes and represent the physical metal on-chain through CuTT tokens.
How Toto Finance Plans to Build a Copper Reserve
Submitted on October 15, Toto Finance Inc.’s proposal requests a one-time withdrawal of 22 million ADA tokens from Cardano’s treasury, with the company acting as the accountable administrator.
Approximately two-thirds of the requested capital will be allocated toward acquiring high-grade copper, which will be kept in an authorized domestic warehouse. Every validated pound of this copper backing will represent one CuTT token.
Under the plan, Toto Finance would hold the copper for up to two years before conducting a controlled sale. The company would then return the net proceeds and any unused funds to the treasury within 36 months.
However, the proposal does not guarantee the recovery of the original ADA or any profit. It estimates a break-even copper price of $10.06 per pound if all stated fee ceilings apply, compared with an illustrative entry price of $6.73.
Constitutional Committee Flags Two Compliance Issues
Despite the proposal’s investment objectives, two Constitutional Committee members voted against it on October 22 and October 23, respectively. They cited two constitutional concerns.
First, the proposal’s documentation is hosted on the proposer’s website. The committee members argue that Cardano’s Constitution requires governance documents to remain immutable after submission. Although a cryptographic hash can detect changes, it cannot prevent the website operator from replacing the published document.
Second, the receiving account delegates to the “abstain” option while also delegating to a stake pool. The members consider this arrangement unconstitutional.
Additionally, one member questioned Toto Finance’s position as the sole administrator, noting that independent checks on how the company uses the funds have yet to be appointed.
The proposal needs at least two-thirds of the Constitutional Committee to find it constitutional. At the time of writing, five members had yet to vote.
DRep Voting Signals Early Resistance
Meanwhile, voting among delegated representatives (DReps) also shows limited support for the proposal.
According to the latest figures, 32.8% of DRep votes oppose the action, while only 0.32% support it. The remaining 66.87% have yet to vote.
Nevertheless, voting remains open, meaning the figures could change before the November 15, 2026, deadline.
Unfinished Arrangements Add to Implementation Risks
Beyond the constitutional objections, several aspects of the proposed investment remain conditional.
For instance, a U.S. PwC member firm is the preferred independent oversight provider, but Toto Finance has not yet engaged it. Similarly, the Cardano Foundation’s Reeve reporting layer remains a proposal, while audit mandates and security reviews for the Ethereum-to-Cardano bridge remain outstanding implementation milestones.
Under the proposed structure, the treasury-funded CuTT tranche would be locked in Ethereum escrow, with corresponding bridged tokens issued on Cardano.
Consequently, the arrangement introduces additional requirements for verifying the physical copper, securing the underlying assets, and ensuring that the on-chain tokens accurately represent the metal held in custody.
Although the proposal permits submission before the relevant contracts are finalized, it requires disclosure of their status.
Toto Finance’s CEO is scheduled to discuss the proposal with the Cardano Foundation’s governance lead during “Cardano Governance Hour #12” on October 28. Meanwhile, the governance action remains open for voting until November 15, 2026.
Cardano’s RWA Support
Notably, the proposal tests whether Cardano can pursue its RWA ambitions without compromising its constitutional safeguards. The current voting figures indicate resistance, while the outstanding compliance and implementation issues add further uncertainty.
Nevertheless, Cardano founder Charles Hoskinson has strongly advocated RWA tokenization, describing it as a major driver of growth for the crypto sector over the next five years.
The Cardano Foundation has also participated in RWA initiatives involving the London Stock Exchange Group (LSEG), MembersCap, and Archax. However, the broader push toward tokenization does not resolve the specific constitutional and operational questions facing the copper reserve proposal.
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#XRP may fall below $1 again after showing a bearish signal that previously led to a 30% price drop, according to crypto analyst ChartNerd.
In a post on X, ChartNerd said XRP formed a daily 20/50 EMA death cross on October 19. This occurs when the 20-day exponential moving average (EMA) falls below the 50-day EMA, signaling weakening price momentum.
The analyst noted that XRP has struggled to recover above both moving averages, raising concerns about another potential price decline.
XRP Could Drop Below $1 Again
ChartNerd compared the current signal with a similar one observed between May and August, when XRP fell from around $1.40 to below $1.00, marking a drop of roughly 30%. The price later rebounded to $1.70 in August and $1.60 in September following a 20% dip.
Now that XRP has formed another death cross and remains below both moving averages, the analyst warns that the price could fall toward or even below $1 if history repeats itself. XRP is currently trading at $1.30, down 15% over the past month.
XRP’s Next Move Depends on Breaking Above Key Levels
XRP’s next move depends on whether it can rise above its short-term moving averages. If it succeeds, the price could recover. However, if it continues to struggle, XRP may fall further.
The previous 30% drop illustrates what happened the last time XRP formed this bearish signal, but it does not guarantee that the same scenario will play out again.
XRP Flashes a Buy Signal
Interestingly, XRP has flashed a buy signal on its three-day chart, according to crypto analyst Ali Martinez, raising hopes of a potential price rebound.
In a post on X, Martinez said the TD Sequential indicator had signaled a possible buying opportunity for XRP. The TD Sequential is a technical indicator that traders use to identify potential trend reversals. He noted that the last three similar signals were followed by price rebounds of 31%, 24%, and 18%, respectively.
However, XRP’s next move depends on what happens around the $1.25 level. Martinez said that if XRP stays above $1.25, it could recover toward $1.40.
Losing $1.25 Could Send XRP to $0.98
On the other hand, if XRP falls below $1.25, its price could drop toward $0.98, Martinez warned. He added that the risk could increase if large XRP holders, often called whales, continue selling to take profits.
Notably, XRP dipped to $0.98 in August but surged 70% days later. However, that rally eventually lost momentum, and the price is now at $1.30, amid renewed fears of a fall below $1.
For now, traders will be watching to see whether XRP can hold the $1.25 level, which was already tested over the weekend. The price has yet to fully recover from that test.
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Shares of IREN Ltd. (NASDAQ: IREN), an AI cloud and data-center operator, fell more than 4% to $23.90 in premarket trading Monday after Elon Musk warned that hundreds of specialized AI cloud providers could go out of business or be forced to merge. Musk also ruled out SpaceX acquiring any neocloud companies.
The decline coincided with share-price declines in fellow AI infrastructure companies CoreWeave (CRWV) and Nebius Group (NBIS).
In a Sunday post on X, Musk said lenders had nearly stopped providing financing to companies without substantial revenue outside AI data centers. He predicted that more than 200 neocloud providers would face what he called “guppy-level death and consolidation,” adding that only a small number would survive.
Responding to speculation that his comments were intended to push down neocloud stock prices ahead of potential acquisitions, Musk wrote, “SpaceX is not buying any neoclouds. Pointless.”
Musk also said SpaceX had closed $40 billion in debt financing to purchase graphics processing units, or GPUs, used in AI computing. He attributed the company’s access to borrowing to its investment-grade credit rating and revenue from Starlink satellite services and rocket launches.
However, Bloomberg reported that discussions over the debt’s pricing remained ongoing as of late Sunday and that the financing had not yet been priced, despite Musk’s statement that the deal had closed.
IREN Shares Trade Below Previous 52-Week Low in Premarket
IREN shares had already fallen about 47%, from $47.05 on September 23 to $24.905 at Friday’s close. Monday’s $23.90 premarket quote placed the stock nearly 69% below its 52-week high of $76.87 and below the previous regular-session 52-week low of $24.855, recorded October 22.
Short interest in IREN stood at 81.65 million shares as of September 30, up from 55.88 million at the end of March but below the 98.22 million shares reported at the end of July.
Separately, IREN Limited Tokenized bStocks (IRENB) was trading at $23.91, down 3.28% over 24 hours, according to CoinMarketCap. The tokenized instrument’s 24-hour performance is separate from the Nasdaq-listed shares’ premarket movement.
Gartner Forecasts Widespread Neocloud Consolidation by 2030
Musk’s warning followed an October 14 Gartner report predicting that more than 80% of neocloud providers would cease operating independently by 2030 because of rising costs and insufficient differences between competing business models.
Gartner estimated that spending on AI-optimized infrastructure-as-a-service (IaaS) would rise from $66 billion in 2027 to $174 billion in 2030. Despite that growth, the research firm warned that most AI computing providers would struggle to recover their infrastructure investments before the current generation of AI chips is replaced.
The forecast concerns the industry’s loss of independent operators, including through consolidation, rather than necessarily the closure of every affected business. It does not establish that IREN itself will fail or lose its independence.
IREN is scheduled to report its fiscal first-quarter 2027 financial results on November 5, followed by a conference call at 5 p.m. Eastern Time.
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October 22 brought a new financing partnership for the XRP Ledger, an interest-paying digital deposit from SoFi and expanded trading capabilities at Uniswap. The day’s announcements also included regulatory action against Coinbase Ireland, a major venture-capital rebrand and a governance decision at Starknet.
Ripple and Arf Target Payment Firms’ Funding Needs
Ripple and Arf announced a partnership to provide licensed payment companies with short-term financing in RLUSD through the XRP Ledger. The funding is intended to cover the period while international payments settle, with Arf’s financing typically repaid within one to five days. A later phase would use XRPL’s proposed native lending features once the required amendments are activated.
SoFi Introduces a Tokenized Deposit Paying 4.40% APY
SoFi unveiled SOFIE, a tokenized bank deposit offering a variable 4.40% annual percentage yield, with deposits eligible for FDIC insurance within applicable limits. Customers can exchange SOFIE for SoFiUSD at a one-to-one rate, then use the stablecoin for crypto purchases or transfers to supported external wallets. Access is being introduced to SoFi Crypto members in stages through November.
Uniswap Expands Access to Liquidity From Other Exchanges
Uniswap Labs activated aggregator hooks on Ethereum, Base and Robinhood Chain, allowing its trading system to draw on liquidity from external platforms. Seven sources are available initially through the web app and API, giving the system additional prices and trading routes to compare. Swaps using these connections also generate protocol fees that contribute to UNI token burns.
Coinbase Ireland Receives €3.25 Million Penalty
Ireland’s central bank announced a €3.25 million penalty against Coinbase Ireland for shortcomings in protecting customer funds and overseeing outsourced operations. The settlement was reached on October 21 and disclosed on October 22, with the sanctions still requiring High Court confirmation. Coinbase said it had corrected the issues and that customers had neither lost money nor been prevented from accessing their funds.
Starknet Voters Support Research Into an Independent Blockchain
A Starknet poll that closed on October 22 recorded more than 93.5% of voting power in favor of researching a transition from an Ethereum Layer 2 into an independent blockchain designed for post-quantum security. StarkWare plans to prepare a draft whitepaper for public review in November. Any actual network transition would require further governance approval.
a16z Crypto Adopts the Frontier Name and Broadens Its Focus
Andreessen Horowitz announced that a16z Crypto is becoming a16z Frontier as its new fund expands into a wider range of emerging technologies. Managing partner Chris Dixon identified opportunities around artificial intelligence, new computing devices and other businesses that may take years to develop. The firm said cryptocurrency investments and its work on crypto regulation will continue under the broader mandate.
Dune Launches Faster Data Feeds for Onchain Markets
Dune introduced a market-data service that delivers information about blockchain trades roughly one second after execution, according to its announcement. Its spot coverage spans more than 200 trading venues across 12 networks, while a separate feed covers perpetual futures on Hyperliquid and Lighter. The service supplies standardized trade details and links them to the underlying blockchain transactions.
Fireblocks Rejects Report of Acquisition Talks With Visa
Fireblocks disputed an October 22 Axios report claiming Visa was in advanced discussions to acquire the company for approximately $2.5 billion. In a response to The Block, Fireblocks said the reported talks were untrue at that time, while Visa declined to comment. The companies have announced no acquisition agreement.
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Crypto analyst MasterAnanda has argued that #Cardano could be approaching the end of its prolonged bear market ahead of a strong recovery.
In what he called a friendly reminder, the analyst cautioned that investors might not get another chance to buy Cardano at similarly low prices if the anticipated bullish trend materializes.
To support his outlook, MasterAnanda shared a three-day ADA/USDT chart on Coinbase. The chart highlights an extended downtrend that followed Cardano’s late-2024 rally, alongside a falling wedge and a prolonged bearish wave. It also shows a rounded-bottom formation that developed over approximately two months.
ADA Rebounds From $0.1384 Low but Faces Resistance
According to the chart, ADA recovered from a low of $0.1384 in July 2026 before climbing toward $0.28 this month. However, the cryptocurrency subsequently retreated to around $0.221, bringing it close to the $0.22 support zone highlighted in the analyst’s analysis.
MasterAnanda interprets this price action as an early recovery phase in which ADA is consolidating before potentially beginning another upward move. He believes the initial rebound was relatively modest and expects the next bullish wave to deliver a more substantial rally.
Analyst Projects ADA Could Reach $1, $2, and $3.25
MasterAnanda outlined several upside targets for ADA, with $1 representing his first major milestone. He believes the cryptocurrency could reach this level in the coming months if bullish momentum strengthens.
Beyond that, the analyst expects ADA to potentially climb to $2 in 2027, while leaving room for a move to $3.25, marking a new all-time high for the token.
However, these figures represent speculative projections rather than guaranteed outcomes. ADA would need to overcome intervening resistance levels and sustain buying pressure to reach these targets.
“Investors May Not See Current Prices Again”
Beyond his technical analysis, MasterAnanda argued that the prolonged bear market has created an opportunity that investors might not encounter again. In his view, the relatively low prices recorded throughout 2026 could become a distant memory if Cardano enters an extended bullish cycle.
He also suggested that ADA could continue appreciating for several consecutive years, potentially extending its gains into 2028 and beyond. Consequently, he encouraged investors who share his outlook to consider a long-term buy-and-hold approach.
Nevertheless, his claim that cryptocurrency markets will not experience another prolonged bear market remains speculative. Cardano continues to face broader market risks, and its ability to sustain an upward trend will depend on investor demand, market sentiment, and developments across the cryptocurrency industry.
ADA Retreats 25% From Its Recent Peak
Meanwhile, ADA has struggled to maintain the momentum behind its latest rally. Earlier this month, it climbed above $0.28, prompting several analysts to project a potential advance beyond $0.41.
However, the rally subsequently reversed, with ADA falling toward $0.21. This represented a 25% decline from its 30-day peak.
At the time of the reported figures, ADA was down 11.99% over the past seven days and ranked as the 15th-largest cryptocurrency by market cap.
Despite this weakness, some sentiment indicators continue to point to optimism surrounding Cardano.
Cardano Ranks Among Top Assets by Analyst Sentiment
In a separate development, CryptoQuant CEO Ki Young Ju highlighted Cardano among the leading crypto assets by analyst sentiment. ADA ranked fifth in the assessment, recording a positive reading of +1.2 sigma, behind Bitcoin (BTC), Solana (SOL), BNB, and Hyperliquid (HYPE).
The reported ranking suggests that analyst sentiment toward Cardano remains relatively constructive despite its recent price decline. The assessment also linked ADA’s position to its potential adoption in AI-focused payments and real-world enterprise applications.
However, positive sentiment alone does not guarantee a sustained price recovery. ADA must regain upward momentum and overcome key resistance levels before MasterAnanda’s ambitious price targets become attainable.
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