🚀Bitcoin ETFs Cross $20 Billion in Net Flows

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Monthly trade volume on the Polymarket prediction market platform surpassed $1 billion in October, beating out its previous all-time high by double with two weeks to go. The milestone was driven by a surge in election market activity as odds on the platform diverge from national polls in favor of Trump.

Markets rallied on Friday, with Bitcoin quickly approaching $69,000. ETH, SOL and DOT rallied between 1% and 3%.

Solv announced the initial rollout of a Bitcoin liquid staking token (LST) on Solana. The token offers exposure to hedge liquidity provider positions on Jupiter.

Vitalik wants to achieve 100,000 transactions per second (TPS) on Ethereum following The Surge.

Also, the SEC appeals Ripple Labs ruling, Fantom adoption rebounds as Sonic overhaul looms, and Shape hosts works from prominent NFT artists.

✍️ In today’s newsletter:

Polymarket punters trade $1B in October so far
Bitcoin races toward $69,000
Election odds swing towards Trump on Polymarket
Solv unveils Bitcoin LST on Solana
Vitalik outlines The Surge
SEC is not fighting to classify XRP as a security
Fantom activity spikes ahead of Sonic overhaul
Shape L2 hosts prominent NFT art mints

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📈Polymarket Surpasses $1B Monthly Trading Volume, Driven by U.S. Election Betting

Polymarket has hosted more than $1 billion worth of trades this month amid a surge in election market activity. Users executed $98.4 million worth of predictions on Oct. 7, with election markets accounting for more than 95% of activity since Oct. 14.

🚀Crypto Markets Rally as Bitcoin ETFs Surpass $20 Billion Milestone

Crypto markets edged higher on Friday, with Bitcoin rallying 2% to $68,800. DOGE soared 15% after Elon Musk shared additional details about his proposed "Department of Government Efficiency (D.O.G.E.).”

🗳️Polymarket U.S. Election Odds Diverge Sharply from Traditional Polls

Polymarket’s implied odds are heavily drifting towards Trump, despite national polling averages giving a slight lead to Kamala Harris. However, the Polymarket trend is also reflected on mainstream betting platforms.

🥩Solv Launches Bitcoin Liquid Staking Token On Solana

Solv is bringing liquid Bitcoin staking to Solana. The project announced the initial rollout for a token offering BTC yields through hedged liquidity provider positions on Jupiter, Solana’s top DEX aggregator.

⚡Vitalik Outlines Ethereum’s Road to 100,000 TPS

Vitalik Buterin, Ethereum’s chief scientist, outlined his vision for The Surge — the component of Ethereum’s long-term roadmap aiming to significantly boost scalability. Buterin wants Ethereum to aim for 100,000 TPS through a variety of measures including upgrades to the network’s base layer, data sampling and compression, and Plasma-based scaling.

⚖️SEC’s Ripple Appeal Makes No Attempt To Classify XRP As A Security

The SEC appealed last year’s court decision concerning the agency’s lawsuit against Ripple Labs. The SEC wants Ripple and its executives’ XRP sales on exchanges reexamined, but is not seeking to overturn the court’s ruling that XRP does not comprise a security.

⬆️Fantom Ecosystem Activity Picks Up Ahead of Sonic Labs Rebrand

Activity on Fantom is picking up as the project gears up for its Sonic overhaul. Daily transactions doubled in one month to 440,000 as of Oct. 13, while 30-day annualized revenue is up 168%.

🎨Ethereum Layer 2 Shape Launches Mainnet with Notable NFT Artist Mints

Shape, an Ethereum Layer 2 hoping to attract adoption from creators, is onboarding artworks from prominent NFT artists. XCOPY, DeafBeef, Deekay Motion, and Harvey Rayner have all minted pieces on the chain since the network went live on Sept. 30.

🌍 ELSEWHERE

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