🚀 Bitcoin Climbs BUT Ethereum Leads

THE CRA CRYPTO MARKET WRAP
Bitcoin Climbs BUT Ethereum Leads

THE WRAP UP
Bitcoin closed the week up 2.55%, while Ethereum jumped 7.42%, outperforming broader markets. Total crypto market cap rose 2.14% to $3.480T. Most liquidations this week were on the short side, and funding rates stayed largely flat. Meanwhile, Michael Saylor’s MicroStrategy added 4,980 BTC and Metaplanet surpassed Tesla in BTC holdings.

What This Means & The Impact
While equities surged again, crypto still lags - but key purchases from institutions and ETF milestones on Solana may signal building momentum ahead of a potential US rate cut.

OVERVIEW IN THIS MARKET

• Bitcoin (BTC): +2.55%
• Ethereum (ETH): +7.42%
• Total Crypto Market Cap: Up 2.14% to $3.480T
• Equities: S&P 500 up 2.05%, Nasdaq up 1.68%

What This Means & The Impact
Crypto remains in consolidation, but outperformance from ETH and strategic BTC purchases hint at renewed confidence from long-term players.

MOVEMENT IN THE TOP 8

What This Means & The Impact
Altcoins were lifted by ETH’s lead and Solana’s ETF debut. Still, upside remains selective, rewarding narrative-aligned projects.

THIS WEEK’S NARRATIVE
Tokenized stocks stole headlines as Robinhood and others pushed deeper into the space:

• Robinhood launched tokenized stock & equity trading on Arbitrum
• Solana-based xStocks platform expands integrations
• OpenAI denied affiliation with tokenized equity claims

What This Means & The Impact
The TradFi and DeFi divide continues to narrow. Expect more legacy players to step into tokenized finance, creating new on-chain rails.

KEY ADVANCEMENTS

• Ripple applies for US national bank charter
• Coinbase acquires Liquifi
• Circle launches Circle Gateway (cross-chain USDC service)
• Safe unveils Harbour for trustless multisig ops
• Grass launches Android app for bandwidth monetization

What This Means & The Impact
Infrastructure expansion and regulation compliance are dominating major project roadmaps, shaping the next wave of crypto's institutional appeal.

DEFI BRIEF

• Jupiter launches "Jupiter Studio" token launchpad on Solana
• GMX expands to Bitcoin L2 Botanix
• Dolomite brings World Liberty’s UDS1 stablecoin to Ethereum

What This Means & The Impact
Launchpads and cross-chain DeFi tools are heating up, particularly on Solana and Bitcoin L2s. Builders are doubling down.

MEMES IN MOTION

• Moonshot Create lets users launch memecoins via Apple Pay

What This Means & The Impact
Memecoins continue to lower barriers to entry - fueling speculative frenzy and onboarding retail via ease of creation.

FUNDRAISES

• Datagram Network raised $4M (Blizzard Fund, Animoca, DePIN X)
• Limitless raised $4M (Coinbase Ventures, Maelstrom Fund)
• Perena backed by Echo, Native Crypto, and Backpack angels

What This Means & The Impact
VC appetite for DePIN, prediction markets and stablecoin infra remains healthy - suggesting conviction in key verticals.

AIRDROP BUZZ

• Drift Protocol opens DRIFT claims via its FUEL program - claimable until 14 November 2025

What This Means & The Impact
Big-name airdrops remain a powerful draw for active DeFi users - a reminder that engagement still pays.

THE WRAP DOWN
While Ethereum took the lead this week and Solana saw strong ETF-driven sentiment, crypto continues to shadow equities' momentum. But with TradFi integrations, institutional buys, and DeFi utility quietly compounding - don’t mistake silence for stagnation.

Your Trusted Crypto Research Team
Crypto Research Australia – CRA
“Quiet builds often spark loud runs.”