🗞️ Stablecoin Reserves Are Falling Across Exchanges, With Binance at a 1-Year Low Stablecoin reserves on Binance have just hit their lowest level of the year. With $41.6B of stablecoins (ERC-20) in reserve, Binance is back to its early October 2025 level. Since April 2026, $6.3B has left the platform. Stablecoin market cap on Binance has been in the red since June, with an estimated -4.7% change over 90 days for now. This is consistent with Binance stablecoin netflows, which average -$62M on a monthly average. This trend is not unique to Binance, which still holds over 70% of stablecoin reserves across exchanges. Since April, reserves have also fallen by $2.3B on Bybit, $2.5B on Coinbase Advanced and $2.4B on OKX. After a slight liquidity rebound in late August, momentum has faded and several factors may explain this : - Exchanges adjust the supply of stablecoins available on their platforms to match investor demand, and investors appear reluctant to take on crypto exposure for now. - Some investors may have withdrawn their liquidity to earn a yield on other platforms while waiting for better conditions. Either way, this dynamic continues to weigh on the market. The lack of incoming liquidity is contributing to the current lethargy. For the situation to change, we would need to see flows return to exchanges, a sign that demand is recovering.

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🗞️ Gold felt 30% while Binance futures volumes hit $12.3B a week Since the start of the year, gold has corrected by up to 30% after hitting a high of $5 595. The economic and geopolitical backdrop continues to push investors toward this asset, seen as a way to protect capital in times of uncertainty. As a result, the closer the price gets to $4 000, the more futures volumes on Binance keep rising. On a weekly average, XAU volumes on the platform now exceed $12.3B, compared with $3.8B in April. A few days ago, $3.5B were even traded in just 24 hours. Since gold trading launched on Binance, nearly $320B in derivatives volume has been traded. Like commodity investors, crypto investors are increasingly gaining exposure to these tokenized hard assets, either to protect their capital or to put it to work, while the crypto market struggles further.

JPMorgan CEO on Bitcoin 👇 • 2017 : Bitcoin is a fraud
 • 2018 : Regrets it and admits blockchain makes sense
 • 2019-2020 : Bitcoin is not his cup of tea
 • 2021 : Not interested in Bitcoin and calls it worthless
 • 2023 : Would ban Bitcoin and crypto if he could
 • 2024 : Bitcoin is a pet rock, compares it to a Ponzi scheme
 • 2025 : Bitcoin has no value and is used for money laundering
2025 again: Everyone has the right to buy Bitcoin
 • 2026 : JPM Coin launched on Ethereum And now JPMorgan ranks Bitcoin as the best long-term return asset, with a 2027 outlook 😅

🗞️ XRP whale outflows hit a 5-year low Since its peak at around $3.3, XRP has seen a clear shift in whale outflow dynamics. In February 2025, at the top of the cycle, whale outflows on Binance (90-dma) reached $3.5 billion. It was a massive accumulation, marked by several daily spikes well above $10 billion. Since then, the trend has completely reversed. XRP is attracting less and less attention from whales, who are probably waiting for a better price to step back in. As a result, whale outflows on Binance (90-dma) have just dropped to their lowest level in 5 years. With a 90-day average of $49.7M, they are back to their October 2021 level, which marked the top of the previous Bitcoin cycle. ripple:native has shown notable resilience throughout this bear market, which likely prevented whales from finding a price attractive enough to accumulate heavily, as they did in 2022 and 2023. From a long-term perspective, this suggests XRP could lack buying volume without whale support. That said, it's not a hard rule, sometimes the trend reverses precisely when volumes and interest collapse.

🗞️ Memecoins on Binance face $1.4B in selling pressure since Bitcoin's Top Since its October peak, Bitcoin has seen a maximum drawdown of 54% and is now trading about 35% below that peak. One of the sectors hit hardest by this bear market is the highly speculative and volatile memecoin sector. On Binance, cumulative selling pressure across the entire sector has exceeded $1.4B since Bitcoin's last high. Lacking solid fundamentals and driven purely by cultural trends, this sector has arguably suffered the heaviest losses. As a result, memecoin dominance among altcoins by market cap has fallen to its lowest level: they now account for less than 3% of total altcoin market cap, a sign that liquidity has fled the sector. Overall, this situation reflects massive selling pressure on the riskiest segment of the crypto ecosystem. It is also a reminder that memecoins suffer the most in every correction, and that exposure to them carries a very high risk of capital loss.

IS THE ALTCOIN SEASON NARRATIVE LOSING STEAM? Nearly half of Binance-listed altcoins are now trading below their 200-day moving average. Over $134B has left altcoins in just 15 days, according to analyst @Darkfost_Coc, as Bitcoin dominance increased to 60.7%. Two weeks ago, nearly 9 in 10 altcoins were in an uptrend.

🗞️ Memecoins on Binance face $1.4B in selling pressure since Bitcoin's Top Since its October peak, Bitcoin has seen a maximum drawdown of 54% and is now trading about 35% below that peak. One of the sectors hit hardest by this bear market is the highly speculative and volatile memecoin sector. On Binance, cumulative selling pressure across the entire sector has exceeded $1.4B since Bitcoin's last high. Lacking solid fundamentals and driven purely by cultural trends, this sector has arguably suffered the heaviest losses. As a result, memecoin dominance among altcoins by market cap has fallen to its lowest level: they now account for less than 3% of total altcoin market cap, a sign that liquidity has fled the sector. Overall, this situation reflects massive selling pressure on the riskiest segment of the crypto ecosystem. It is also a reminder that memecoins suffer the most in every correction, and that exposure to them carries a very high risk of capital loss.

🗞️The Altseason Is cooling fast as Altcoin breadth drops from over 90% to around 52% Between late August and early October, altcoins went through a brief altseason, which is now starting to fade. To measure these favorable periods, the number of altcoins trading above their 200-day moving average, a key technical level, is a good indicator. Over these two months, the share of Binance altcoins trading below their 200-dma fell from 81% to less than 10%. In other words, 9 out of 10 altcoins listed on Binance had entered a confirmed uptrend. This move was fueled by an inflow of more than $814 billion across all altcoins over the same period. Since then, the trend has lost momentum: 48.4% of Binance altcoins have fallen back below their 200-dma. The trend has therefore reversed for nearly one altcoin out of two on the platform. Over the last 15 days, more than $134 billion has left altcoins, an outflow likely driven in large part by quick profit-taking. Altcoins remain a sector where dynamics, like investor sentiment, shift very quickly. Yet history shows that it is when interest in and performance of altcoins are at their lowest that it becomes worthwhile to consider building an appropriate exposure.

Following the discovery of another compromised Ledger at MediaMarkt, I've updated the list of resellers/distributors that may be at risk. Aqipa GmbH has been an official Ledger distributor since August 2023, mainly in Germany and Austria. I've added the list of European distributors that may have been supplied by Aqipa, but once again, nothing is proven except for MediaMarkt and CryptoBilis. Don't you find it crazy that random accounts on X give you more information on the risks, how to check, and which devices may be compromised than the manufacturer itself does ? They didn't even offer to cover the shipping costs for the latest Ledger bought at MediaMarkt, even though they asked for it to be sent in.

🟢 Geopolitical de-escalation sparks $618M in net taker volume, wiping out Bitcoin shorts This weekend, which looked set to be complicated on the geopolitical front, ended with the abandonment of a massive military operation that the United States had been preparing. This positive news, relayed last night, allowed markets to wake up in the green. That was all speculators needed to shake up the Bitcoin derivatives market hard this morning. Within an hour, net taker volume jumped from +$11 million to +$618 million on Binance at the opening of European markets. It is fairly rare to see this much buying power flow into derivatives in such a short time. This burst of positivity liquidated more than $400 million in short positions across the entire crypto market, helping Bitcoin break above $85 000. This marks a trend change, as it is a break of structure relative to the May high. Despite a context that remains tense, Bitcoin appears to be continuing its momentum, notably fueled by investors who still don't believe in it and are positioning against the crowd.

The more time goes by, the more I get the feeling that certain entities, like the ECB, fear that a very different economy could emerge from their digital euro proposal. They’re even rewarding companies willing to be pioneers. Maybe they’ll throw in an airdrop at the end too…

🗞️ Ethereum's silent accumulation Hits a 3-Year High In just 3 months, ethereum:native has gone from $1 510 to $2 650, a gain of more than 75%. This move structurally breaks the prevailing trend by clearing April's high. Compared to Bitcoin, which has yet to establish itself durably above its May high, ETH has taken a bit of a lead. This has been made possible by the accumulation of ETH on Binance, which has just reached its highest level in 3 years. The monthly average of ETH withdrawal transactions from Binance has just surpassed 90 000, a high not seen since 2023, which is double the level recorded at the start of the year. It highlights just how significant, and fairly sudden, this accumulation has been. When ETH leaves a platform like Binance in this way, it suggests that many investors bought and then withdrew their ETH to move it into private custody solutions. This type of behavior is associated with an accumulation logic, aimed at medium to long term holding. This dynamic is reinforcing the trend building on ETH, a trend that is currently much stronger on Ethereum than on Bitcoin.

🗞️ USD1 crosses $60B in Cumulative Volume on Binance ethereum:0x8d0d000ee44948fc98c9b98a4fa4921476f08b0d 's cumulative trading volume on Binance has just passed $60B. That's a significant figure for a stablecoin launched less than 18 months ago. For those less familiar with it, USD1 was launched in March 2025 by World Liberty Financial, a company partly co-founded by the Trump family. It is backed by U.S. dollars and short-term U.S. Treasury bills, under an institutional-style compliance framework. Its market cap now exceeds $4B (~$4.33B) and continues to grow. One nuance, though, a single institutional transaction, tied to a $2B settlement as part of an investment in Binance, accounts for a large share of that market cap. The growth in market cap should therefore be read with some perspective. Volumes give a more accurate picture of actual usage. On Binance, monthly trading volumes are stabilizing between $5B and $8B, pointing to steady usage rather than a one-off spike. USD1 keeps carving out its place in the stablecoin ecosystem, notably thanks to Binance, a platform that holds around 70% of the stablecoins present on exchanges.