News

Jinse Finance reported that Circle L1 blockchain Arc has released the list of the first 11 projects built on its public testnet. These include the on-chain stablecoin protocol ZKP2P, the universal crypto trading platform Sequence, the smart agent solution interconnection platform Superface, stablecoin wallet infrastructure Blockradar, stablecoin banking service Copperx, crypto API development company Crossmint, cross-border fund transfer and management application Hurupay, wallet infrastructure Para, personalized financial platform CFi, zero-knowledge proof-based wallet Hinkal, and cross-chain infrastructure Axelar Network.

According to Jinse Finance, Lookonchain monitoring shows that in the past 9 hours, Strategy has transferred 22,704 bitcoin (approximately $2.45 billion) to multiple new wallets.

On October 31, according to market data, the RWAfi project Novastro's token XNL fell below the public sale cost price of $0.05 after its TGE the day before, and is now trading at $0.0126, meaning public sale participants have lost about 75% at the current price. Novastro previously held a public sale on KaitoAI, raising $2 million, which was 2.3 times oversubscribed. The immediate post-sale loss for token sale participants has led the community to question Kaito AI, claiming that the fundraising platform bears partial responsibility for raising funds for "scam" projects.

On October 31, it was announced that the community fundraising platform Buidlpad has launched a new platform called Vibe. This platform will focus on providing a launchpad for high-quality projects at earlier stages and with smaller fundraising scales. Vibe will maintain Buidlpad-level review standards, including KYC and anti-sybil mechanisms, to protect genuine users.

According to a report by Jinse Finance, crypto analyst Emmett Gallic disclosed that Strategy tested 9 new addresses (excluding change addresses). The analyst speculates that this may be related to a custodial service migration. According to his observations, the script hash address type starting with "3" is the same as the Prime deposit address of a certain exchange, but in this case, the test funds were not swept.

Jinse Finance reported that Matt Hougan, Chief Investment Officer at Bitwise, stated that Solana is gradually becoming a favored asset among "alpha seekers"—investors looking for excess returns. Institutions view it as a "challenger asset" to Ethereum, and four major factors are driving large investors to favor Solana. 1. A pragmatic "launch first, optimize later" attitude Hougan noted that Solana has established a reputation for "moving fast and prioritizing deployment over perfection." While Ethereum may spend years debating upgrade proposals, Solana launches products first and then iteratively optimizes them in real time—this efficient pace is attracting institutions tired of Ethereum’s "delayed roadmap." 2. Leading position in tokenization Hougan pointed out that Solana has become the blockchain of choice for "equity tokenization": many real-world asset (RWA) projects prioritize Solana over competitors when selecting their underlying infrastructure. "Solana is ahead in the competition for equity tokenization," he emphasized. 3. Attractive high staking yields Institutions prefer assets that can "passively generate returns," and "stakeable blockchains" like Solana and Ethereum meet this need—among them, Solana’s staking business stands out. Data shows that over 81% of SOL tokens on the Solana network (worth about $51 billions) have been staked; in contrast, only 27% of ETH on the Ethereum network is staked. More importantly, Solana’s annualized staking yield is about 7%, allowing institutions to enjoy both potential token price appreciation and stable passive income; while Ethereum’s annualized staking yield is only about 3%. 4. Greater growth potential The last factor relates to Solana’s "scale." Hougan believes that one of the core reasons institutions are interested in Solana is its much smaller scale compared to Ethereum, which means greater growth potential. "Precisely because Solana is much smaller than Ethereum, its upside potential is much broader," he explained.

Jinse Finance reported that Ether.Fi DAO has released a new proposal authorizing the foundation to use part of the treasury funds for ETHFI token buybacks. According to the proposal, when the market price of ETHFI falls below $3, the foundation may execute buybacks from the open market or designated on-chain venues, with a total cap of $50 million. The plan aims to continue accumulating ETHFI tokens and increase the proportion of protocol revenue used for buybacks when the price is below this threshold. All buyback transactions will be transparently recorded on-chain and publicly reported through the ether.fi dune dashboard. The proposal will undergo a 4-day voting period on the Snapshot platform and will take effect immediately upon approval.

BlockBeats News, October 31, according to Bloomberg, Strategy released its Q3 financial report after the US stock market closed. Driven by unrealized gains from its approximately $69 billion cryptocurrency holdings, the company achieved a net profit of $2.8 billion for the quarter.

Although bitcoin reached an all-time high in the third quarter and dozens of listed companies have followed the reserve model pioneered by Michael Saylor five years ago, investors have begun to question this strategy. Since the stock price hit an all-time high last November, Strategy's share price has fallen by 44.16%, erasing the long-term premium of its stock price relative to its bitcoin holdings over the past few years.

Meanwhile, demand in the preferred stock market remains weak. Recent fundraising efforts have fallen far short of Michael Saylor's anticipated sensational effect, resulting in a slowdown in bitcoin purchases in recent weeks. CEO Phong Le stated during a conference call that the company is seeking to raise funds in international markets and is considering launching an ETF backed by preferred stock. MicroStrategy incurs approximately $689 million annually in interest and dividend expenses.

Possibly influenced by the financial report, MSTR rose 5.71% after hours.