Morning News | Solana's official Twitter announced its Chinese name "索拉拉"; VanEck submitted an application for a Lido-staked Ethereum ETF
Overview of Important Market Events on October 20整理：Zhou，ChainCatcher
Important News:
- Trump: If no trade agreement is reached by November 1, China may face a 155% tariff
- Base co-founder mentions "Base Life": Looking forward to more Chinese content appearing on the Base network
- Solana's official Twitter releases the Chinese name "索拉拉"
- VanEck submits application for Lido staking Ethereum ETF
- Insider: Polymarket tokens will be issued in 2026, implemented after the US market reopens
What important events happened in the past 24 hours?
Probability of a 25 basis point rate cut by the Fed in October reaches 99.4%
According to ChainCatcher, as reported by Jinshi, CME's "Fed Watch" shows that the probability of a 25 basis point rate cut by the Fed in October is 99.4%, while the probability of maintaining the current rate is 0.6%. Additionally, the probability of a cumulative 50 basis point cut by December is 98.6%, and the probability of a cumulative 75 basis point cut is 0.9%.
Data: Insider whale 1011 increases short position of 100 BTC, position size reaches $121 million
According to ChainCatcher, monitoring by Lookonchain shows that insider whale 1011 has increased its short position of 100 BTC, with a position size of $121 million (1,100 BTC), and the liquidation price is $135,320.
Trump: If no trade agreement is reached by November 1, China may face a 155% tariff
According to ChainCatcher, as reported by Crypto Rover, U.S. President Trump stated that if a trade agreement is not reached by November 1, China may face a 155% tariff.
Zhao Changpeng predicts Bitcoin's market value will eventually surpass gold
According to ChainCatcher, Zhao Changpeng posted on the X platform, predicting that Bitcoin's market value will eventually surpass gold, though he does not know exactly when. It may take some time, but it will happen.
Solana co-founder responds to building a new Perp Dex: Just trying to use Claude for testing
According to ChainCatcher, Solana co-founder toly responded to "suspected solo building of a perp DEX on Solana," stating, "I’m just casually trying with Claude to see how well it can generate Pinocchio and test it with surfpool.
Please steal this idea. I want to see if it’s possible to replicate the same prop-amm competitive model for perpetual contracts, just like in the spot market.
A perpetual contract decentralized exchange program that uses only one memory block in one account to handle all transactions, with its own liquidity provider/risk management/matching engine.
A router that can rebalance positions among any number of these exchanges."
According to ChainCatcher, Base co-founder Jesse Pollak posted on the X platform, stating that Base Life is the first popular project on the Base App, and he looks forward to seeing more content from China appearing on the Base network.
Solana's official Twitter releases the Chinese name "索拉拉"
According to ChainCatcher, Solana's official Twitter has released the Chinese name "索拉拉."
It is reported that this "solicitation of a Chinese name for Solana" event was organized by Trends.fun, and the name "索拉拉" was provided by X user muper (@easytopredict), who drew inspiration from a post by Solana Foundation chair Lily Liu.
Muper stated that he received a reward in the Solana Chinese name event and will donate the prize to friends in China as promised.
Prediction market Limitless completes $10 million seed round financing, led by 1confirmation
According to ChainCatcher, as reported by Decrypt, the prediction market platform Limitless Exchange announced the completion of a $10 million seed round financing, led by 1confirmation, with participation from Collider, F-Prime, DCG, Coinbase Ventures, Node Capital, and Arrington Capital.
The new round of financing will be used to accelerate product iteration, expand shorter market types (such as 15/10/1 minute markets), increase user growth scale, and explore specific jurisdiction licensing qualifications to ensure global compliance development. These initiatives will solidify Limitless's unique position in the intersection of finance and prediction markets.
According to ChainCatcher, as reported by PR Newswire, BitMine Immersion Technologies announced today that its total crypto assets, cash, and "vision investment" portfolio has reached $13.4 billion.
As of October 19, 6:30 PM Eastern Time, the company's crypto asset holdings include: 3,236,014 ETH, 192 BTC, $119 million in Eightco Holdings (NASDAQ: ORBS) equity, and $219 million in unrestricted cash.
BitMine chairman and Fundstrat analyst Tom Lee stated, "Last week, the crypto market experienced the largest deleveraging event in history, putting pressure on ETH prices. Currently, the open interest in ETH has fallen back to the level of June 30 of this year (when ETH was $2,500).
Given the anticipated super cycle for Ethereum, the current price misalignment presents an attractive risk-reward ratio. We increased our holdings by 203,826 ETH last week, bringing our total holdings to 3.24 million ETH, accounting for 2.7% of the total ETH supply."
Strategy spent about $18.8 million to increase its holdings of 168 BTC last week
According to ChainCatcher, the official news reveals that Strategy has spent about $18.8 million to purchase 168 BTC at an average price of $112,051 per BTC, and as of the beginning of 2025 (YTD 2025), its Bitcoin yield has reached 26%.
As of October 19, 2025, it holds 640,418 BTC, which were purchased at an average price of $74,010 per BTC, with a total expenditure of about $47.4 billion.
VanEck submits application for Lido staking Ethereum ETF
According to ChainCatcher, the ETF issuer VanEck has submitted an S-1 registration application for the "VanEck Lido Staked ETH ETF" fund to the U.S. Securities and Exchange Commission (SEC), which aims to allow investors to earn Ethereum staking rewards through Lido's staked ETH tokens (stETH).
Kean Gilbert, head of institutional relations at the Lido ecosystem foundation, stated, "This application marks the gradual recognition of liquid staking as a core component of Ethereum infrastructure. The stETH of the Lido protocol proves that decentralization and institutional standards can coexist, laying the foundation for broader market development."
CZ responds to Binance Life launching on Base App: Broad-minded, focusing on users
According to ChainCatcher, on October 20, Binance founder CZ responded on social media to the launch of Binance Life on the Base App, stating, "Good discussions lead to good results. Binance Life becomes the first project issued on BNB Chain and listed on the Base App with a Chinese ticker. Broad-minded, system open, focusing on users."
According to ChainCatcher, Binance founder CZ (Zhao Changpeng) posted a reminder that as the popularity of Meme coins rises, hackers are starting to target social media accounts with weaker security, using stolen accounts to post fake contract addresses (CA) for scams. CZ emphasized that no official account will recommend or endorse specific Meme projects, urging users to be vigilant to avoid asset losses due to clicking or interacting with unknown contracts.
Insider: Polymarket tokens will be issued in 2026, implemented after the US market reopens
According to ChainCatcher, as reported by Decrypt, insiders revealed that Polymarket plans to issue crypto tokens after re-entering the U.S. market, but it may not be implemented until 2026. Meanwhile, with the confirmation of the Polymarket token issuance plan, platform users have changed their airdrop strategy, adopting more complex methods to avoid being witch-hunted.
Unlike last year's obvious volume manipulation, current users have turned to using over 100 wallets for operations or optimizing their performance in trading volume, profitability, liquidity provision, and the number of trading markets to meet the expected airdrop conditions.
According to ChainCatcher, Backpack announced that it has completed the verification and handling of all cases during the market flash crash on October 11. Throughout the event, Backpack did not experience socialized loss or clawback, and the risk engine remained stable under extreme pressure, with the system operating normally during and after the event.
To assist affected users, Backpack has launched a cash compensation plan, including:
Basis trade (spot-contract arbitrage) accounts:
Accounts with leverage below 5x will receive 100% compensation;
Accounts with leverage above 5x will receive partial compensation based on leverage and market conditions.
Users whose BTC lending positions were passively reduced due to ADL: 100% compensation.
Funds deposited before settlement: 100% distribution.
All liquidation fees: 50% refund.
Meme Popularity Rankings
According to the meme token tracking and analysis platform GMGN, as of October 21, 08:58,
The top five popular ETH tokens in the past 24 hours are: sUSDe, LINK, USDe, HYPER, Flōki
The top five popular Solana tokens in the past 24 hours are: CR7, TRUMP, Percolator, SORRY, USELESS
The top five popular Base tokens in the past 24 hours are: ZORA, UPONLY, Jesse, EURC, MOON
What are some interesting articles worth reading in the past 24 hours?
From oversubscription of 520 times to a 70% crash, Astra Nova's sell-off event explained
On October 18, the new coin Astra Nova (RVV) launched on Binance Alpha, causing widespread controversy. Within hours of its launch, related wallets of the project were found to be continuously selling tokens, causing the RVV price to plummet from a peak of about $0.03 to $0.007, a drop of 76%. It is rare in the crypto industry for a project to be so blatant in "dumping" right after its launch on Binance. Why did Astra Nova become such a typical case?
The prediction market has continued to boom in 2025, with Kalshi and Polymarket achieving a combined trading volume of $1.44 billion in September, setting a historical record. Recently, both platforms announced the completion of a new round of financing: Polymarket raised $2 billion from its parent company (ICE), with a valuation rising to $9 billion; Kalshi raised $300 million at a $5 billion valuation.
However, as the prediction market sector continues to thrive, social media has raised three major questions about this market: Will this market breed a large amount of insider trading? What is the regulatory attitude of major countries towards prediction markets? Why is there a general lack of Chinese narrative types of prediction events? This article discusses these questions.
Why I gradually gave up on researching Web3 projects?
This article explains the author's reasons for gradually stopping the writing of specific project analyses. He believes that the Web3 industry has undergone fundamental changes in 2025, and the traditional research methodology based on public information has basically failed as a short-term profit path.
Interview with Tether CEO: Sleeping 5 hours a night, aiming for 100 times growth for Tether
Paolo Ardoino, CEO of Tether and CTO of Bitfinex, shares how he built one of the world's most profitable companies—each employee averages about $100 million in profit.
Tether launched USDT, the most widely used stablecoin globally, providing financial support to approximately 3 billion people who cannot access banking services, especially in countries facing extreme inflation and financial crises.
In the current context of increasing global economic instability, Paolo founded a company dedicated to bringing stability through "democratizing finance," achieving extraordinary success. Last year, Tether's revenue reached $13.7 billion.
Fun Fact: The first DApp on Ethereum is the prediction market Augur
Recently, while sorting out which Web3 prediction markets exist, I suddenly remembered Augur. After searching for related information, I found that Augur announced it would restart in March this year, but I had no idea when it had stopped operating.
The reason for this reflection is that Augur was the subject of my first translation article when I entered the field. The article was published on March 19, 2019, and I remember the requirement was to add my personal understanding based on the translation. I also recall that I used the movie "The Butterfly Effect" poster as the cover for the article because my personal understanding was that prediction markets have the ability to change the future.
I wonder if that momentary opinion from over six years ago can be considered prophetic. My view on the reasons for the current leading Web3 prediction market approaching a $10 billion valuation remains unchanged: when an event will definitely have a certain outcome in the future, and the betting on that outcome is mixed with economic interests, the betting itself will have the ability and motivation to change the final result.
Risk warning
Risk warning
