Friday Top Crypto News In one short thread…

Yesterday, the U.S. Bitcoin spot ETFs saw a total net outflow of $488 million, with all 12 funds recording zero inflows. Ethereum spot ETFs posted a total net outflow of $184 million, also with no inflows across nine products. In contrast, Solana spot ETFs recorded a net inflow of $37.33 million, marking three consecutive days of inflows.

Coinbase reported $1.9 billion in third-quarter revenue on Thursday, a 26% increase quarter-over-quarter. Coinbase disclosed a Q3 earnings per share of $1.50, coming in above analysts’ forecasts of $1.10 per share.

Grayscale’s Head of Research, Zach Pandl, predicted that a potential U.S. spot Solana ETF could mirror the success of Bitcoin and Ethereum products, attracting at least 5% of Solana’s total token supply within the next one to two years. At current prices, that would mean over $5 billion worth of SOL could be absorbed by firms such as Grayscale and Bitwise.

Standard Chartered’s Geoffrey Kendrick projects the market cap for tokenised real-world assets will surge from about $35 billion today to $2 trillion by the end of 2028 — about a 56x increase. Kendrick expects the “vast majority” of this onchain activity to take place on Ethereum due to its reliability and network effects.

According to Bloomberg, Strategy Inc. (formerly MicroStrategy) posted Q3 net income of $2.8 billion, or $8.42 per share, driven by unrealised gains on its $69 billion Bitcoin holdings…

Despite the rebound, the stock is down about 45% from its November 2024 peak amid concerns over its capital structure and Bitcoin purchase pace. The company said it is pursuing plans to issue credit securities in offshore markets

Bitcoin treasury firm Nakamoto Holdings has seen its stock fall over 98% from its May peak after a $563M PIPE deal triggered heavy investor selling. Their CEO David Bailey plans to merge Bitcoin Magazine, the Bitcoin Conference, and 210k Capital into the company to boost cash flow and build a “Bitcoin-first” group. Nakamoto still holds 5,765 BTC (≈$653M), ranking as the 19th-largest public Bitcoin holder.

Decentralized derivatives exchange dYdX is planning to enter the U.S. market by year-end, according to Reuters…

The platform plans to offer spot cryptocurrency trading in the U.S., and cut trading fees to between 50 and 65 basis points, according to the report.  However, dYdX will not be able to offer its signature product, perpetual futures trading, in the U.S., as it is currently barred by regulations.

Crypto majors trade at the following levels BTC 109,560 (down 1.1% in 24 hours) ETH 3,825 (down 2.5%) XRP 2.48 (down 3.6%) SOL 185.32 (down 5%) Have a great day!