While most market participants were resting, the crypto industry experienced several landmark events: from a massive rally in the first cryptocurrency to a serious security incident in the Cosmos ecosystem and the entry of a traditional bank into the stablecoin market. I break down the key movements and news that will set the tone for the upcoming week.
Bitcoin storms $80,000: dynamics of the leaders
The main digital asset continues its confident recovery. As of 09:00 Moscow time, BTC is trading near the $80,692 mark, showing a gain of 4.65% over the last 24 hours. Volatility remains high: over the day, the price fluctuated in the range from $76,750 to $81,000. Such momentum indicates the return of buying appetite after a period of consolidation.
Ether (ETH) is also in the green zone, adding 2.47% and reaching the level of $2,508. The intraday high was about $2,530, which suggests an attempt to hold above a psychologically important level. Among altcoins in the top 25, Monero (XMR) stands out with a gain of 8.52%, Solana (SOL) — by 8.10%, and Cardano (ADA) — by 3.32%. Bitcoin Cash (BCH) rose by 2.88%.
In the top 100, the best result was shown by Stacks (STX), which soared by 18.17%. Next come Aerodrome Finance (AERO) and Virtuals Protocol (VIRTUAL) with gains of 16.19% and 15.92%, respectively. The day's laggard was the Aave (AAVE) token, which lost 8.52% of its value. Among the decliners are also Ethena (ENA) and Lighter (LIT) — down 6.58% and 6.19%.
ETF flows and liquidations: institutions increase positions
Institutional interest continues to grow. Spot bitcoin ETFs recorded an inflow of $337.56 million per day. Ethereum-based products attracted $115.57 million, while funds on Solana, XRP, Hyperliquid, and Chainlink added $33.49 million, $13.82 million, $5.74 million, and $2.68 million, respectively. Even Dogecoin ETFs received small inflows — $146,020.
This capital inflow triggered a wave of liquidations in the futures market. Over the last 24 hours, positions totaling $646.93 million were liquidated. The main blow fell on short sellers — $457.28 million versus $189.65 million for longs. The largest liquidation order was recorded on Bitget for the BTCUSDT pair at $103.54 million.
Security incident in Cosmos EVM
Cosmos Labs reported an ongoing security incident in the Cosmos EVM module affecting users. Security and development teams strongly recommended that validators of related networks halt their operations until the vulnerability is fully resolved. The nature of the issue, the list of affected networks, and the scale of potential losses have not yet been disclosed. A full report on the incident will be published after the investigation is completed.
Standard Chartered enters the stablecoin market
In a landmark move for traditional finance, Standard Chartered bank has become the first bank distributor of the regulated Hong Kong stablecoin HKDAP from issuer Anchorpoint Financial. The token is offered to qualified institutional clients and partners. In the fourth quarter, the bank plans to launch subscription and redemption services for tokenized money market funds, and is also testing HKDAP for intra-group settlements and cross-border payments.
Base tokenizes Apple and NVIDIA shares
The Base network launched tokenized shares from Coinbase under the B20 standard. The tokens are backed by real securities on a 1:1 basis, which are held with regulated custodians. Qualified users will be able to hold tokenized Apple and NVIDIA shares in non-custodial wallets and use them in the network's DeFi ecosystem. Asset management is carried out through the regulated broker and custodian Alpaca, opening up opportunities for on-chain trading, lending, and other financial operations.
My view: The market is demonstrating a classic recovery pattern after oversold conditions, supported by institutional capital inflows. However, the Cosmos EVM incident reminds us of systemic risks in cross-network bridges and modules — vulnerabilities of this level can quickly negate the positive sentiment. I recommend maintaining caution when increasing positions in altcoins associated with the affected ecosystem.