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CoinCatch Market Daily Report (October 28, 2025)
Intermediate
2025-10-28 | 10m
On October 28, the cryptocurrency market exhibited mixed signals on October 28, 2025, balancing between macroeconomic optimism and technical resistance. The total market capitalization was held at $3.84 trillion, with a 24-hour trading volume of $163.39 billion . Bitcoin (BTC) and Ethereum (ETH) faced short-term headwinds, with BTC falling 1.50% to $113,900 and ETH dropping 3.39% to $4,091 amid profit-taking and macro uncertainty. Meanwhile, the dYdX community is reviewing a new proposal to compensate traders who suffered losses during the chain halt on Oct. 10, with payouts totaling $462,097.79. The New York Stock Exchange (NYSE) posted listing notices on Monday for four new spot cryptocurrency exchange-traded funds (ETFs), signaling they will begin trading as soon as Tuesday. Enso announced that USD1 is the latest project to utilise its tech stack.
Crypto Market Overview
BTC (-1.50% | Current Price: $113,902.34)
Bitcoin’s price trajectory indicated a contention between bullish catalysts and technical vulnerabilities. Although BTC briefly reclaimed $111,000 as support, it faced difficulties maintaining upward momentum above the 50-day Simple Moving Average (SMA). Significant factors included: Macro Tailwinds: Anticipation of a Federal Reserve interest rate cut on October 29 enhanced risk appetite, potentially depreciating the USD and facilitating increased BTC inflows. Technical Risks: The CoinDesk BTC Trend Indicator remained in bearish territory, and the inability to surpass Ichimoku cloud resistance posed a risk of decline toward $109,000. Liquidity Shock: The recent depletion of liquidity below the $116,000 zone intensified market fragility, with hourly charts exhibiting minimal bullish signals.
On October 27th, Bitcoin ETFs experienced a net inflow of $149.3 million. BlackRock IBIT experienced an inflow of $65.3 million.
ETH (-3.39% | Current Price: $4,091.87)
Ethereum exhibited relative strength despite prevailing broader market pressures. Its resilience was primarily supported by strong fundamentals and technical demand indicators:
Recovery Attempt: ETH pursued a reclaim of the $4,200 resistance zone. Successful breach could catalyze a rally toward $4,500, whereas failure might necessitate a retest of the $4,000 support level.
On-Chain Indicators: The network’s Total Value Locked (TVL) increased to $900 billion, representing a 5% rise following a correction, reinforcing its function as a settlement layer for DeFi protocols and Real-World Assets (RWAs).
Staking Yield Attractiveness: With over 36.19 million ETH staked, offering yields in the range of 3–5%, the network continued to attract institutional capital, as exemplified by SharpLink’s accumulation of $78.3 million worth of ETH.
On October 27th, ETH ETFs experienced a total net inflow of $133.9 million, including an inflow of $72.5 million from BlackRock ETHA and 11.5 million from Fidelity's FETH.
Altcoins
The Crypto Fear & Greed Index reflected equilibrium at
42 (Neutral), up from 33 the previous week, indicating a pause in emotional trading. Meanwhile, the Altcoin Season Index languished at 27%, signaling a muted environment for smaller tokens amid Bitcoin’s dominance of 59.2%.
Altcoins encountered structural headwinds but exhibited localized momentum. Bitcoin’s 59% market dominance constrained widespread altcoin rallies; however, select assets outperformed, with
TRUMP increasing by 11.7% driven by meme-related activity within the Solana ecosystem. Hedera (
HBAR) appreciated 7.4% owing to increased enterprise adoption, while Bittensor (
TAO) advanced by 4.5%, supported by emerging AI narratives. Underperforming sectors include smaller tokens, which remained approximately $800 billion below typical bull-cycle valuations, with many projects experiencing year-to-date losses of 57%.
Macro Data
Federal Reserve Policy: The anticipated 25-basis-point interest rate reduction on October 29 has the potential to enhance liquidity-driven capital inflows into the cryptocurrency sector. Geopolitical Developments: Progress in US-China trade negotiations, with leaders scheduled to meet on October 30, supported risk-on asset classes. Regulatory Actions: Japan introduced JPYC, the first regulated stablecoin pegged to the Japanese yen. The European Union prohibited the issuance of ruble-backed stablecoins as part of sanctions measures against Russia.
On October 27th, the S&P 500 gained 1.23%, standing at 6,875.16 points; the Dow Jones Industrial Average increased 0.71% to 47,544.59 points, and the Nasdaq Composite gained 1.86% to 23,637.46 points.
Trending Tokens
RECALL Recall (+22.56%, Circulating Market Cap: $104.26 Million)
RECALL is trading at $0.5184, up approximately 22.56% in the past 24 hours. Recall is a decentralized skill market where communities fund, rank, and discover AI solutions that meet their needs. Recall creates transparent, verifiable reputation infrastructure for the AI agent economy through economic coordination and performance-based evaluation. RECALL’s decentralized AI agent network, launched on Coinbase’s Base L2, enables communities to fund and govern AI solutions. A $100K RECALL prize pool for AI trading competitions (Recall Network) further incentivized participation. The AI narrative remains a key crypto driver in 2025, with RECALL positioned as infrastructure for decentralized AI development. Staking and governance use cases for RECALL tokens could tighten supply if adoption grows.
HBAR Hedera (+16.89%, Circulating Market Cap: $9.06 Billion)
HBAR is trading at $0.2133, up approximately 16.89% in the past 24 hours. Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face — such as slow performance and instability.
The SEC greenlit spot HBAR ETFs from Canary Capital and Grayscale, with trading set to begin on October 28. This follows a regulatory workaround during the U.S. government shutdown, allowing filings to auto-approve after 20 days. ETFs enable institutional exposure without direct token custody, historically driving demand (e.g., Bitcoin ETF inflows hit $149.5B AUM). HBAR becomes one of the first non-BTC/ETH tokens with U.S.-listed ETFs, validating its regulatory positioning.
MELANIA Official Melania Meme (+14.94%, Circulating Market Cap: $104.69 Million)
MELANIA is trading at $0.1150, up approximately 14.94% in the past 24 hours. Melania memes are digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA. On October 23, wallets linked to MELANIA received $1.23M in Meteora’s MET token airdrop. This occurred despite Meteora’s former lead facing a lawsuit over alleged MELANIA-related pump-and-dump schemes. Traders may interpret the airdrop as indirect validation of MELANIA’s ecosystem ties, despite legal risks. MET’s own 18% weekly drop suggests profit-taking could spill into MELANIA.
Market News
dYdX Proposes $462K Compensation for Users Affected By Recent Outage
The dYdX community is reviewing a new proposal to compensate traders who suffered losses during the chain halt on Oct. 10, with payouts totaling $462,097.79. According to Oct. 28 post on the dYdX community forum, the exchange’s team identified 27 valid claims after investigating the disruption.
The dYdX Chain, built on the Cosmos, encountered instability during a period of extreme market volatility on Oct. 10 at around 5:35 PM ET. The system experienced a negative balance due to a rare bug in the exchange’s isolated market configuration, which triggered an automatic halt designed to maintain the network’s state. Validators took several hours to restart oracle services, and stale price feeds briefly persisted once the network resumed. Although no funds were directly lost on-chain, some users experienced liquidations and incorrect trade executions during the halt, resulting in financial losses.
According to dYdX Labs’ Oct. 27 post-mortem, the issue was caused by a recent code update that was not properly organized. It also discovered issues with validator coordination, which are common in proof-of-stake systems and can result in oracle desynchronisation during high-stress events, delaying recovery.
NYSE Lists Solana, Hedera, Litecoin Spot Crypto ETFs for Trading This Week
The New York Stock Exchange (NYSE) posted listing notices on Monday for four new spot cryptocurrency exchange-traded funds (ETFs), signaling they will begin trading as soon as Tuesday.
The filings include the Bitwise Solana Fund, Canary Capital Litecoin and HBAR Fund and the Grayscale Solana Trust, the latter of which is scheduled to launch Wednesday.
The move surprised many in the market, as ETF issuers had not expected any decisions from the Securities and Exchange Commission (SEC) during the ongoing U.S. government shutdown. The agency has been operating with reduced staff, like the rest of the federal government — None deemed essential is furloughed, and essential employees are working without pay for the duration of the shutdown.These ETFs had faced final decision deadlines earlier this month, but the shutdown pushed the process back. The sudden appearance of listing notices suggests issuers are launching the funds under the newly developed generic listing standards or taking advantage of other mechanisms that similarly allow issuers to go live with products without seeking SEC approval.
Spot ETFs allow investors to gain exposure to the underlying digital assets without holding them directly. These ETFs are the first ones to launch new crypto assets after the approval of the spot BTC and ETH ETFs in 2024. Some of these funds will also include a staking feature. Several other issuers have applied to launch similar products tied to Solana and other digital assets, both on the NYSE and rival exchanges like Nasdaq and Cboe. When those funds will be approved remains unclear, especially if the shutdown continues.
Trump-Backed USD1 DeFi Deal With Enso Sparks WLFI Breakout Toward $0.20
USD1, a stablecoin linked to US President Donald Trump is deepening its ties to decentralised finance. On Monday, Enso, a provider of so-called chain shortcuts that allow crypto projects to deploy across different blockchains easily, announced that USD1 is the latest project to utilise its tech stack.
This will make “DeFi attractive to major players, including institutions, enabling them to tap into deep liquidity and optimal pricing,” Connor Howe, founder of Enso, said in comments shared with DL News.
World Liberty Financial, part of the sprawling crypto empire backed by the Trump family, is the issuer behind USD1. The stablecoin launched in March.
USD1’s growth is part of a broader theme of market expansion for stablecoins in 2025. The sector has grown to over $308 billion, a more than 50% growth this year, amid favourable regulations in the US. In July, Trump signed the Genius Act into law, which legally recognises stablecoins in the US.
Reference:
CoinMarketCap. (n.d.).
CoinMarketCap.
https://coinmarketcap.com
Farside Investors. (n.d.-a).
Bitcoin.
https://farside.co.uk/btc/
Farside Investors. (n.d.-b).
Ethereum.
https://farside.co.uk/eth/
Investing.com. (n.d.-a).
USA Indices.
https://investing.com/indices/usa-indices
GoldPrice.org. (n.d.).
Spot gold price today.
https://goldprice.org/spot-gold.html
Crypto.News. (2025).
dYdX proposes $462k compensation for chain halt. Crypto.News.
https://crypto.news/dydx-proposes-462k-compensation-chain-halt-2025/
CoinDesk. (2025, October 27).
NYSE lists Solana, Hedera, Litecoin spot crypto ETFs for trading this week. CoinDesk.
https://www.coindesk.com/markets/2025/10/27/nyse-lists-solana-hedera-litecoin-spot-crypto-etfs-for-trading-this-week
Yahoo Finance. (n.d.).
Trump-backed USD1 stablecoin gets regulatory nod in multiple states.
https://finance.yahoo.com/news/trump-backed-usd1-stablecoin-gets-165614147.html
CoinCatch Team
Disclaimer:
Digital asset prices carry high market risk and price volatility. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance. CoinCatch is not responsible for any losses that may occur. This article should not be considered financial advice.
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