I’ve been paying more attention to where people actually trade and where they leave their capital. This week’s DefiLlama numbers show a pretty interesting divide. Solana processed $14.2B in DEX volume over 7 days, compared with Ethereum’s $9.8B and BSC’s $5.4B. Yet Ethereum still holds around $48.5B in DeFi TVL, roughly 8x Solana’s capital base. To me, that gap says a lot about how these ecosystems are being used. Solana has clearly built a strong trading environment. Ethereum remains the place where a much larger amount of capital is deployed. BSC is worth mentioning too. Its weekly DEX volume is growing by around 4.5%, even as Ethereum and Solana have seen weaker momentum. Personally, I’m watching whether trading activity starts translating into deeper, more persistent liquidity. I’d give more weight to a network that can retain capital through quieter markets than one that only dominates during periods of speculation.

Gm champs ☀️

One company now owns almost 5% of Ethereum's supply, yet $ETH is still struggling to reclaim $2,500. I think the divergence deserves more attention. BitMine purchased another 12,535 ETH last week, bringing its holdings to 6.041M ETH, worth approximately $14.47B. It's 4.9% of circulating supply, just below its 5% accumulation target. Meanwhile, the broader market tells a different story: • ETH remains around $2,400 • Spot ETH ETFs lost $320M last week, their third consecutive week of outflows • The 20-day and 50-day EMAs sit around $2,500, creating a significant resistance zone • The $2,350 area is the next important support. To me, BitMine's buying signals long-term conviction, but concentrated accumulation doesn't automatically translate into broader market demand. Can one major treasury buyer absorb enough supply to change ETH's trajectory?

Most major DeFi ecosystems lost liquidity this week. But a handful of networks managed to grow against the trend. Latest 7-day TVL changes from DefiLlama: • Tempo: +32.0% • Plasma: +11.25% • Provenance: +1.75% • NEAR: +1.74% • Starknet: +1.35% Meanwhile, Ethereum fell 5.5%, Solana 8.49%, and BNB Chain 6.28%. Tempo stands out, although its ~$106M TVL is still relatively small. Plasma looks interesting too, with an 11.25% increase on a much larger ~$546M base. I’d be careful treating TVL growth as proof of fresh inflows, though. Asset prices and collateral composition can distort the picture. Are these networks genuinely attracting new liquidity?

A7 is set to unveil a service that could reshape the global payments market On 13 October the Russian settlement system A7, created by Bank PSB, will present A7 International Clients will be able to pay a foreign invoice in USDT and receive the money via a standard SWIFT transfer in the needed currency The service targets primarily foreign-trade companies, but private individuals are also welcome. The commission stays fixed at 0.3 % Petr Fradkov (Chairman of PJSC Bank PSB) and Ilan Shor (CEO of A7) will reveal the details on 13 October at 10:13 UTC Watch the live stream: a7.biz/live

Major blockchain ecosystems lost DeFi liquidity this week. But a few managed to grow against the trend. Latest 7-day TVL data from DefiLlama: • Tempo: +41.1% • NEAR: +10.0% • Starknet: +1.7% • TRON: +1.3% • Robinhood Chain: +0.7% Meanwhile, Ethereum fell 3.7% and Solana dropped 6.3%. $NEAR is the one that stand out to me the most. Its TVL reached ~$238M despite the broader sell-off, while TRON’s $5.7B shows how differently established ecosystems can behave during market stress. Still, TVL growth isn’t necessarily fresh capital. Token prices and changes in collateral composition can influence these numbers. Which networks are genuinely attracting new liquidity, and which are simply benefiting from capital rotating out of weaker ecosystems?

$BTC has now failed at $87K three times since September 23. For me the backdrop is more interesting than the level itself. Nasdaq is sitting at record highs and FinCEN just dropped proposals that would have added reporting requirements around $10K+ transfers to non-custodial wallets. Yet BTC still got pushed back toward $85.6K. It tells me regulatory relief and equity strength aren’t enough to overpower the supply sitting around $87K right now. Rising Treasury yields are probably part of that friction too. Three rejections can confirm resistance, but they also mean sellers at the same level keep getting tested. Does $87K break because that supply eventually gets absorbed?

Gm to everyone who says Gm back

Basically, @Stockpocks already turned the mint into a game before you even get the Pock. 10k supply, 24 hours, price starts at 250 USDG and keeps dropping toward 20. So buying early means paying more for certainty. Waiting gets you a better price, sure, but you’re also watching everyone else make the same calculation in real time. For a product built around digital pets earning stock tokens, making patience/risk part of the genesis auction actually fits pretty well. Will be there to see where people collectively decide “cheap enough” is.

Which chains handled the most trading this week? @DefiLlama last 7 days of spot DEX volume: 1. Solana — $15.88B 2. Ethereum — $10.15B 3. Robinhood Chain — $9.38B 4. Base — $7.83B 5. BNB Chain — $7.33B Solana handled roughly 1.6x Ethereum’s volume. Robinhood Chain took third, ahead of Base and BNB Chain The TVL picture tells a different story: Base grew 1.65% over the week, while Solana was nearly flat at +0.13% and Ethereum slipped 0.21% Trading activity and growth in capital locked don’t always move together And this week’s numbers make that pretty clear