Key Market Intelligence for October 23: How Much Did You Miss?

Selected News

1. ORE surged over 110% in the past 24 hours, with its market cap rising to $50.11 million

2. WLFI reserve company ALT5 Sigma CEO has been suspended, and the company's stock price has dropped 83% from its 52-week high

3. U.S. crypto concept stocks generally rose in pre-market trading, and quantum computing concept stocks also saw broad gains

4. Binance Alpha announced the new airdrop MET points threshold, requiring at least 226 points

5. Institutions such as Apollo Global and Jane Street participated in Kraken's $500 million financing in September

Trending Topics

Source: Overheard on CT, Kaito

The following is the Chinese translation of the original content:

[MEGAETH]

MEGAETH has attracted widespread attention due to its upcoming public sale. The sale will use an English auction format, with a valuation cap of $999 million. The project emphasizes broad distribution and community participation, and introduces a unique U-shaped allocation mechanism in the event of oversubscription. The project has attracted well-known investors including Dragonfly and Vitalik Buterin, and is being discussed as a potential major blockchain project. In addition, MEGAETH has been listed on the Hyperliquid platform for leveraged trading, further fueling market interest and speculative enthusiasm.

[LIMITLESS]

Today, LIMITLESS ($LMTS) drew attention for its token generation event (TGE) and subsequent trading launch, with a fully diluted valuation (FDV) reaching $400 million. The event unfolded as a "stealth TGE," with participants receiving generous rewards, some even exceeding $10,000. The project is backed by well-known institutions such as Coinbase Ventures and 1confirmation, and aims to reshape the short-term prediction market. Community discussions focus on its rapid growth, community activity, and strategic marketing efforts including "stealth launch" and partnerships. Despite some FUD (fear, uncertainty, doubt) regarding liquidity allocation, overall sentiment remains positive, with many users expressing anticipation for the platform's potential and future opportunities.

[HYPERLIQUID]

HYPERLIQUID is in the spotlight today due to several key developments. The platform launched MEGA-USD hyperps, supporting leveraged trading of the yet-to-be-issued MEGAETH. Its subsidiary, HYPERLIQUID Strategies, has filed an S-1, planning to raise up to $1 billion, possibly to purchase HYPE tokens. The platform's daily revenue has grown significantly, and AF is accumulating large amounts of HYPE tokens. In addition, the community is actively discussing the impact of AI trading agents and the automatic deleveraging mechanism during market crashes.

[THEO]

Today's discussion about THEO centers on its performance in RWA (real-world asset) projects, especially its innovative approach to bringing real assets into the crypto space through Theo Network. Tweets highlight the potentially high returns from participating in Theo activities, and users are actively discussing how to optimize strategies to accumulate more points. Overall sentiment is positive, with the community full of anticipation for upcoming developments and profit potential.

Featured Articles

1. "A Golden Dog 30 Times Bigger Than Inscriptions: What Is the x402 Protocol?"

Yesterday, a special golden dog was born on Base: $PING. Calculating the cost of minting and the current token price, a successful mint yields about 18 times the return. What makes $PING special is that its minting process is reminiscent of inscriptions from two years ago. The cost to mint $PING is about $1, and if successful, you receive 5,000 $PING. The minting page for $PING, like the old inscription days, lacks a fancy frontend and feels quite hardcore. This is the first token issued through the x402 protocol. So, what is the x402 protocol? Why is the $PING minting process so unique? And what is the current state of this protocol's ecosystem?

2. "MrBeast's Financial Gamble"

In October 2025, MrBeast filed a trademark application named "MrBeast Financial" with the United States Patent and Trademark Office. This 27-year-old, who has buried himself alive for video content in the real world and has 450 million fans in the virtual world, plans to expand his business empire from fast food and snacks to banking, investment, and even cryptocurrency trading platforms.

On-chain Data

On-chain capital flows for October 23