{"id":69563,"date":"2022-11-04T12:38:27","date_gmt":"2022-11-04T10:38:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69563"},"modified":"2025-09-07T20:46:09","modified_gmt":"2025-09-07T17:46:09","slug":"october-in-numbers-miners-on-the-brink-of-unprofitability-ethereum-censorship-and-a-potential-bitcoin-price-bottom","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/october-in-numbers-miners-on-the-brink-of-unprofitability-ethereum-censorship-and-a-potential-bitcoin-price-bottom\/","title":{"rendered":"October in Numbers: Miners on the Brink of Unprofitability, Ethereum Censorship, and a Potential Bitcoin Price Bottom"},"content":{"rendered":"<div class=\"wp-block-monthly-reviews-top-blk review_top_blk\">\n<h2 class=\"wp-block-heading\">Key Highlights<\/h2>\n<ul class=\"wp-block-list\">\n<li>Trading volume on centralized exchanges fell 25%, marking a low not seen since late 2020.<\/li>\n<li>Dogecoin surged after Elon Musk\u2019s Twitter purchase.<\/li>\n<li>Over the month, MEV-Boost relays censored 90% of Ethereum blocks passing through them.<\/li>\n<li>In October, the total TVL of the liquid staking segment rose by 39%.<\/li>\n<li>Many on-chain metrics signalled a market-cycle bottom.<\/li>\n<li>The Foundry USA pool\u2019s share of Bitcoin\u2019s hashrate reached 25.9%.<\/li>\n<li>Since the start of the year, Bitcoin mining difficulty rose by more than 50%, placing miners on the brink of unprofitability.<\/li>\n<li>Stablecoin market capitalization fell to $145 billion, a level not seen since late 2021.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Performance of Leading Assets<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"489\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/BTC-64-1024x489.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189720\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/BTC-64-1024x489.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/BTC-64-300x143.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/BTC-64-768x366.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/BTC-64-1536x733.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/BTC-64.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">BTC\/USDT daily chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"457\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/ETH-58-1024x457.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189721\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/ETH-58-1024x457.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-58-300x134.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-58-768x343.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-58-1536x685.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/ETH-58.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">BTC\/ETH daily chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/ETHUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In October Bitcoin <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-breaches-20000-after-a-prolonged-lull-in-volatility\">managed to break out of a prolonged consolidation<\/a> and test the $21,000 level. The Ethereum price exceeded $1,650, significantly outpacing Bitcoin\u2019s momentum.<\/li>\n<li>For the month, Bitcoin rose 5.56%, while Ethereum climbed 18.4%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"322\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/gainers-28-1024x322.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189723\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/gainers-28-1024x322.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/gainers-28-300x94.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/gainers-28-768x241.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/gainers-28-1536x482.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/gainers-28.png 1614w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Gainers &#038; Losers of the month (projects with market cap above $200m and 24h trading volume above $1m). Data: <a href=\"https:\/\/messari.io\/screener\/monthly-gainers-(copy)-E99DF2E8\">Messari<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"325\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/losers-27-1024x325.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189724\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/losers-27-1024x325.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/losers-27-300x95.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/losers-27-768x244.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/losers-27.png 1617w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>The best performers among mid-cap assets were meme crypto Dogecoin (DOGE) and exchange token Huobi Token (HT). DOGE rose by more than 140%, helped by <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-closes-deal-to-buy-twitter\">Elon Musk\u2019s Twitter purchase<\/a>. Investors seem to expect future crypto integrations into the social network, while Musk continues to <a href=\"https:\/\/forklog.com\/en\/news\/dogecoin-price-tops-0-15-for-the-first-time-since-april\">raise the audience<\/a>. HT surged 110% after leadership changes at Huobi \u2014 in October <a href=\"https:\/\/forklog.com\/en\/news\/media-outlets-name-justin-sun-as-huobi-buyer-tron-founder-denies-rumours\">Justin Sun<\/a>, founder of TRON, joined the advisory council and immediately foreshadowed activities with HT, partnerships and a rebrand.<\/li>\n<li>Luna Classic (LUNC), Celsius Network (CEL) and Axie Infinity (AXS) were among the month&#8217;s laggards. In October, Binance launched a burn of 1.2% of fees in LUNC\/BUSD and LUNC\/USDT, but the effect was modest in scale and did not impact LUNC prices. The exchange later reduced the burn to 0.2%.\n<\/li>\n<li>Another underperformer was Celsius Network\u2019s CEL token. The main trigger <a href=\"https:\/\/forklog.com\/en\/news\/court-approves-asset-auction-schedule-for-celsius-network\">was<\/a> clarity on the timing of the auction for selling bankrupt assets. The drop in Axie Infinity (AXS) quotes was driven by the unlocking of more than 21 million tokens among early investors and project advisers.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3>Crypto-Linked Stocks<\/h3>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>MicroStrategy (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-MSTR\/\">MSTR<\/a>): <br \/><span style=\"color: #33B905\">+25%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Coinbase (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-COIN\/\">COIN<\/a>): <br \/><span style=\"color: #33B905\">+2%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Bakkt (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NYSE-BKKT\/\">BKKT<\/a>): <br \/><span style=\"color: #FA0021\">-7.8%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Galaxy Digital (<a href=\"https:\/\/ru.tradingview.com\/symbols\/TSX-GLXY\/\">GLXY<\/a>): <br \/><span style=\"color: #33B905\">+9.9%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<h3>Mining Stocks<\/h3>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Canaan (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-CAN\/\">CAN<\/a>): <br \/><span style=\"color: #FA0021\">-10.8%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Ebang International (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-EBON\/\">EBON<\/a>): <br \/><span style=\"color: #FA0021\">-26.2%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Riot Blockchain (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-RIOT\/\">RIOT<\/a>): <br \/><span style=\"color: #FA0021\"> -2.5%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Hut 8 (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-HUT\/\">HUT<\/a>): <br \/><span style=\"color: #33B905\">+21.7%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Marathon Digital (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-MARA\/\">MARA<\/a>): <br \/><span style=\"color: #33B905\">+19.7%<\/span><\/strong><\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_half\">\n<p style=\"font-size:24px\"><strong>Core Scientific (<a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-CORZ\/\">CORZ<\/a>): <br \/><span style=\"color: #FA0021\">-85.5%<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<p>Stocks linked to crypto performed broadly mixed. Some market-positive signs supported MicroStrategy due to the large reserve of cryptocurrency on the balance sheet. At the same time miners faced difficulties amid a stagnant market, higher energy costs and <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-mining-difficulty-hits-a-new-record-3\">a fall in hashrate<\/a>. Core Scientific\u2019s cash reserves and equivalents are likely to <a href=\"https:\/\/forklog.com\/en\/news\/core-scientific-faces-bankruptcy-risk\">run out<\/a> by the end of 2022.<\/p>\n<\/div>\n<h2 class=\"wp-block-heading\">Macroeconomic Backdrop<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"636\" height=\"299\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/photo_2022-11-01_11-08-25.jpg\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189734\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/photo_2022-11-01_11-08-25.jpg 636w, https:\/\/forklog.com\/wp-content\/uploads\/photo_2022-11-01_11-08-25-300x141.jpg 300w\" sizes=\"auto, (max-width: 636px) 100vw, 636px\" \/><figcaption class=\"wp-element-caption\">UK 10-year gilt yields. Data: <a href=\"https:\/\/www.investing.com\/rates-bonds\/uk-10-year-bond-yield\">Investing.com<\/a><\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>The new government under Rishi Sunak <a href=\"https:\/\/www.bloomberg.com\/news\/videos\/2022-10-26\/uk-government-delays-fiscal-plan-to-november-17\">announced<\/a> a plan to cut the budget deficit, discarding the initiatives of former prime minister Liz Truss. Yields on 10-year UK gilts fell to 3.5%, easing pressure on risk assets.<\/li>\n<li>Senate Banking Committee Chair Sherrod Brown <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-25\/top-democrat-urges-fed-remember-workers-ahead-of-expected-hike\">urged<\/a> Fed Chair <span data-descr=\"Federal Reserve\" class=\"old_tooltip\">the Fed<\/span> to avoid a sharp rise in unemployment amid tighter policy. The head of the San Francisco Fed, Mary Daly, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-21\/fed-s-daly-repeats-rates-on-track-to-rise-to-4-5-to-5-in-2023\">said<\/a> debates on lowering the pace of rate hikes were warranted.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"895\" height=\"563\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/photo_2022-11-01_11-08-27.jpg\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189736\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/photo_2022-11-01_11-08-27.jpg 895w, https:\/\/forklog.com\/wp-content\/uploads\/photo_2022-11-01_11-08-27-300x189.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/photo_2022-11-01_11-08-27-768x483.jpg 768w\" sizes=\"auto, (max-width: 895px) 100vw, 895px\" \/><figcaption class=\"wp-element-caption\">Headline: US inflation indicators from Bloomberg.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>US consumer price growth in September <a href=\"https:\/\/www.cnbc.com\/2022\/10\/13\/consumer-price-index-september-2022-.html\">slowed<\/a> from 8.3% to 8.2%, but the core rate rose against expectations\u2014from 6.3% to 6.6%.<\/li>\n<li>According to <a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\">the CME FedWatch tool<\/a>, at the upcoming November 2 meeting the Fed is priced in to raise by 75 bps (88.7%), with December expectations split between 50 bps (52.5%) or another 75 bps (46.8%).<\/li>\n<li>Despite disappointing reports from some tech giants, equities and the crypto market have turned positive in anticipation of signals from the Fed regarding the peak of rate hikes.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Market Sentiment, Correlations and Volatility<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"499\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-11-1024x499.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189739\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-11-1024x499.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-11-300x146.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-11-768x375.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-straha-i-zhadnosti-11.png 1267w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Fear and Greed Index dynamics. Data: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"776\" height=\"152\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-6.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189740\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-6.png 776w, https:\/\/forklog.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-6-300x59.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/indeks-straha-i-zhadnosti2-6-768x150.png 768w\" sizes=\"auto, (max-width: 776px) 100vw, 776px\" \/><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Nearly the entire October was spent in the &#8220;extreme fear&#8221; zone for the Fear &#038; Greed Index; only at month end did it edge out of that range. The average reading was 24.4 (23.2 in September).<\/li>\n<li>The unstable macroeconomic and geopolitical backdrop continues to weigh on investors, who fear putting money into high-risk assets.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"502\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-10-1024x502.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189742\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-10-1024x502.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-10-300x147.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-10-768x376.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-10-1536x752.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/90-dnevnye-pokazateli-korrelyatsii-aktivov-10.png 1562w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">90-day price correlation of assets. Data: <a href=\"https:\/\/www.blockchaincenter.net\/en\/cryptocurrency-correlation-study\/?timeframe=90days&#038;asset1=SP500&#038;asset2=BTC#correlationtable\">BlockchainCenter<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"529\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-2-1024x529.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189743\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-2-1024x529.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-2-300x155.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-2-768x397.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-indeksa-volatilnosti-BVOL24H-2.png 1332w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Historical intraday volatility index BVOL24H for Bitcoin. Data: <a href=\"https:\/\/www.bitmex.com\/app\/index\/.BVOL24H\">BitMEX<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In October, Bitcoin\u2019s correlation with the US stock market weakened. The 90-day moving average stood at 0.54 for the S&#038;P 500 and 0.47 for the Dow (0.61 and 0.59 in September respectively).<\/li>\n<li>Some analysts <a href=\"https:\/\/forklog.com\/en\/news\/analysts-propose-accumulating-bitcoin-amid-signs-of-bottom-formation\">believe<\/a> that Bitcoin will eventually break its link to traditional risk assets.<\/li>\n<li>Bitcoin\u2019s correlation with gold also weakened after a three-month run (0.19 versus 0.27 in September). In Q3 2022 the asset posted the best performance versus precious metals.<\/li>\n<li>In October, the average BVOL24H reading was 1.9%, below September\u2019s 3%.<\/li>\n<li>The maximum reading was 4.6% \u2014 the extreme occurred on October 13, when, amid US inflation data, Bitcoin prices <span class=\"old_tooltip\" data-descr=\"fell\">dropped<\/span> below $18,200.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">On-Chain Data<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"827\" height=\"594\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/onchain-metrics1.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189745\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/onchain-metrics1.png 827w, https:\/\/forklog.com\/wp-content\/uploads\/onchain-metrics1-300x215.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/onchain-metrics1-768x552.png 768w\" sizes=\"auto, (max-width: 827px) 100vw, 827px\" \/><figcaption class=\"wp-element-caption\">Puell Multiples, RHODL Ratio, Reserve Risk indicators. Data: <a href=\"https:\/\/arcane.no\/research\/2-year-low-daily-volatility\">Arcane Research<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/BTC-Amount-of-HODLes-or-Lost-Coins-2048x1024-1-1024x512.jpg\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189746\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/BTC-Amount-of-HODLes-or-Lost-Coins-2048x1024-1-1024x512.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/BTC-Amount-of-HODLes-or-Lost-Coins-2048x1024-1-300x150.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/BTC-Amount-of-HODLes-or-Lost-Coins-2048x1024-1-768x384.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/BTC-Amount-of-HODLes-or-Lost-Coins-2048x1024-1.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Amount of lost Bitcoins and hodlers\u2019 coins on wallets. Data: <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-held-by-hodlers-reaches-five-year-high\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Most on-chain metrics, including <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-puell-multiple-and-how-is-it-used\">Puell\u2019s multiplier<\/a>, <a href=\"https:\/\/www.lookintobitcoin.com\/charts\/rhodl-ratio\/\">RHODL Ratio<\/a> and <a href=\"https:\/\/www.lookintobitcoin.com\/charts\/reserve-risk\/\">Reserve Risk<\/a>, signal deep Bitcoin oversold conditions and a likely bottom in the bear market. However some indicators <a href=\"https:\/\/forklog.com\/en\/news\/analysts-forecast-bitcoin-consolidation-in-a-16500-21100-range\">suggest<\/a> a risk of a renewed redistribution wave and price consolidation in the $16,500\u2013$21,100 range.<\/li>\n<li>MVRV <a href=\"https:\/\/forklog.com\/en\/news\/when-will-bitcoin-rally-begin-an-analysis-of-indicator-data-and-expert-opinions\">indicates<\/a> that Bitcoin\u2019s realized cap is higher than its market cap. Earlier, similarly low readings coincided with bear-market lows.<\/li>\n<li>Total lost Bitcoins and hodlers\u2019 coins on long-term wallets <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-held-by-hodlers-reaches-five-year-high\">reached a five-year high<\/a>. This implies dwindling active supply and could bode well for price if demand remains firm or rises.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Suppy-Last-Active-1024x590.jpg\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189748\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Suppy-Last-Active-1024x590.jpg 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Suppy-Last-Active-300x173.jpg 300w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Suppy-Last-Active-768x442.jpg 768w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Suppy-Last-Active-1536x885.jpg 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin-Suppy-Last-Active-2048x1180.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Bitcoin supply held idle for the last six months. Data: <a href=\"https:\/\/twitter.com\/glassnode\/status\/1582241769697456128\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-1024x576.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189749\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-1024x576.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-300x169.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-768x432.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-1536x864.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3.png 1800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">aSOPR indicator dynamics. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=indicators.SoprAdjusted&#038;mAvg=7&#038;mMedian=0&#038;s=1640988000&#038;u=1667234970&#038;zoom=ytd\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Unspent supply of Bitcoin on idle addresses touched a record threshold around 18%. Glassnode analysts <a href=\"https:\/\/forklog.com\/en\/news\/when-will-bitcoin-rally-begin-an-analysis-of-indicator-data-and-expert-opinions\">highlighted<\/a> that such low numbers tend to occur after long bear markets.<\/li>\n<li><a href=\"https:\/\/forklog.com\/en\/news\/when-will-bitcoins-price-resume-its-rise-a-guide-to-on-chain-indicators\">aSOPR<\/a> rose above 1 for the first time since August amid market revival and increased volatility<\/a>. Previously, price declines diverged from rising indicator values, suggesting seller exhaustion.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"603\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1-BTC-1024x603.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189751\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1-BTC-1024x603.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1-BTC-300x177.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1-BTC-768x452.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/CHislo-adresov-s-balansom-bolee-1-BTC.png 1100w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Number of addresses with balance > 1 BTC. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;m=addresses.Min1Count\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-1024x576.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189749\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-1024x576.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-300x169.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-768x432.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3-1536x864.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/aSOPR-3.png 1800w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of the aSOPR indicator. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.RevenueSum&#038;s=1656853115&#038;u=1664629115&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Inactive Bitcoin supply on idle addresses remained at historically low levels around 18%. Glassnode analysts highlighted that such lows tend to coincide with bear market bottoms.<\/li>\n<li>aSOPR rose above 1 for the first time since August amid market revival and rising volatility. Previously, price declines diverged from rising indicator values, suggesting seller exhaustion.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"595\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu-3-1024x595.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189768\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu-3-1024x595.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu-3-300x174.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu-3-768x447.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-srednej-komissii-za-BTC-i-ETH-tranzaktsiyu-3.png 1080w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamique of BTC- and ETH-transactions fees. Data: <a href=\"https:\/\/charts.coinmetrics.io\/network-data\/\">Coin Metrics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"984\" height=\"465\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-13.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189769\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-13.png 984w, https:\/\/forklog.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-13-300x142.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dohody-bitkoin-majnerov-po-mesyatsam-mln-1-13-768x363.png 768w\" sizes=\"auto, (max-width: 984px) 100vw, 984px\" \/><figcaption class=\"wp-element-caption\">Bitcoin miner revenues by month. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=Miners&#038;m=mining.RevenueSum&#038;s=1656853115&#038;u=1664629115&#038;zoom=90\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In October, the average BTC transaction fee mostly stayed below $1; in the second half of the month it rose, reaching $1.59 as on-chain activity picked up with Bitcoin breaking above $20,000.<\/li>\n<li>The average Ethereum transaction fee at the start of the month reached $4.67, matching August levels. It later declined. The relatively low fees on Ethereum signal subdued DeFi activity and a downturn in the NFT space.<\/li>\n<li>Total Bitcoin miner revenue for the month rose 7% to $589.7 million. The share of fees in revenue fell to 1.28%, amounting to just $7 million.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Trading Volume<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"565\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-10-1024x565.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189771\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-10-1024x565.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-10-300x166.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-10-768x424.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/obem-torgov-10.png 1196w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volume on leading spot exchanges, USD billions. Data: <a href=\"https:\/\/www.theblockcrypto.com\/data\/crypto-markets\/spot\">The Block<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>October spot trading volume on ForkLog-tracked platforms fell 25% to $558 billion.<\/li>\n<li>All platforms posted lower volumes, but Coinbase saw only a modest decline \u2014 from $47 billion to $48 billion in September. Binance volumes dropped from $541 billion to $390 billion, FTX from $52 billion to $36 billion.<\/li>\n<li>As a result, overall trading volume on crypto exchanges reached a multi-year low not seen since December 2020.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Futures and Options<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-thirds-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"563\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-20-1024x563.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189773\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-20-1024x563.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-20-300x165.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-20-768x422.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/fyuchersy-20.png 1247w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Futures trading volume for Bitcoin and Ethereum, in trillions of USD. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.FuturesVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"408\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/OI-fyuchersy-2-1024x408.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189774\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/OI-fyuchersy-2-1024x408.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/OI-fyuchersy-2-300x119.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/OI-fyuchersy-2-768x306.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/OI-fyuchersy-2.png 1319w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Open interest on Bitcoin futures, thousand BTC. Data: <a href=\"https:\/\/www.coinglass.com\/BitcoinOpenInterest\">Coinglass<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"556\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/optsiony-20-1024x556.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189775\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/optsiony-20-1024x556.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/optsiony-20-300x163.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/optsiony-20-768x417.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/optsiony-20.png 1248w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Trading volumes of Bitcoin and Ethereum options, USD billions. Data: <a href=\"https:\/\/studio.glassnode.com\/metrics?a=BTC&#038;category=&#038;m=derivatives.OptionsVolumeDailySum\">Glassnode<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>October saw a clear contraction in futures trading volumes on Bitcoin and Ethereum\u2014total platform activity was the lowest since November 2020 ($810 billion and $680 billion, respectively).<\/li>\n<li>Options volumes held relatively steadier.<\/li>\n<li>After hitting a peak in September, open interest on futures began to retreat. Throughout October, total open positions fell by around 100,000 BTC.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">DeFi<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"482\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-13-1024x482.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189777\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-13-1024x482.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-13-300x141.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-13-768x361.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-stoimosti-sredstv-zablokirovannyh-v-DeFi-sektore-13.png 1311w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamic value of funds blocked in DeFi apps. Data: <a href=\"https:\/\/defillama.com\/\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"503\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-9-1024x503.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189778\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-9-1024x503.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-9-300x147.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-9-768x377.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Top-ekosistem-po-stoimosti-zablokirovannyh-sredstv-9.png 1293w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Top DeFi ecosystems by value of blocked funds, USD billions. Data: <a href=\"https:\/\/defillama.com\/chains\">DeFi Llama<\/a> (as of 01.11.2022).<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In October, the TVL of DeFi apps fell 3%, to $83.70 billion.<\/li>\n<li>The leading ecosystem by blocked funds remained Ethereum, up $3.76 billion. Ethereum accounted for more than 61% of total TVL ($51.49 billion). The move was driven by a rise in ETH prices and growing interest in staking.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1001\" height=\"495\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/top-20-DeFi-5.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189780\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/top-20-DeFi-5.png 1001w, https:\/\/forklog.com\/wp-content\/uploads\/top-20-DeFi-5-300x148.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/top-20-DeFi-5-768x380.png 768w\" sizes=\"auto, (max-width: 1001px) 100vw, 1001px\" \/><figcaption class=\"wp-element-caption\">Top-20 DeFi assets by market cap. Data: <a href=\"https:\/\/messari.io\/screener\/defi-assets-(copy)-563C5306\">Messari<\/a> (as of 01.11.2022).<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1013\" height=\"623\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-12.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189781\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-12.png 1013w, https:\/\/forklog.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-12-300x185.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Top-5-DeFi-proektov-na-baze-Ethereum-po-stoimosti-zablokirovannyh-sredstv-12-768x472.png 768w\" sizes=\"auto, (max-width: 1013px) 100vw, 1013px\" \/><figcaption class=\"wp-element-caption\">Top-5 DeFi projects by Ethereum-based locked funds, USD billions. Data: <a href=\"https:\/\/defillama.com\/chain\/Ethereum\">DeFi Llama<\/a> (as of 01.11.2022).<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>By October, almost all top-20 DeFi tokens by market cap were green. Exceptions: COMP (-14.09%), DeFiChain (-3.94%), Loopring (-3.37%).<\/li>\n<li>The price decline for COMP may be linked to the community\u2019s decision to delist low-liquidity assets.<\/li>\n<li>The strongest performer was SushiSwap\u2019s governance token \u2014 up 58.25%. The rally was aided by news that GoldenTree Asset Management bought SUSHI; GoldenTree manages assets worth about $47 billion.<\/li>\n<li>Within Ethereum projects, MakerDAO led TVL at $8.05 billion, with Lido second at $7.45 billion. Since The Merge, demand for applications in this segment has risen.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"613\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-14-1024x613.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189783\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-14-1024x613.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-14-300x180.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-14-768x460.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/TVL-po-osnovnym-sektoram-DeFi-ekosistemy-na-baze-Ethereum-14.png 1115w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">TVL by major DeFi categories. Data: <a href=\"https:\/\/defillama.com\/categories\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"487\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-12-1024x487.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189784\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-12-1024x487.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-12-300x143.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-12-768x365.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Kapitalizatsiya-populyarnyh-bitkoinov-na-Ethereum-12.png 1306w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Market capitalization of popular \u201cBitcoin on Ethereum\u201d assets, USD billions. Data: <a href=\"https:\/\/dune.com\/eliasimos\/btc-on-ethereum_1\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Decoded decentralized exchanges remain dominant within DeFi TVL \u2014 they account for more than 27% of the sector or $22.83 billion.<\/li>\n<li>Second place goes to lending protocols ($14.91 billion), followed by liquid staking services. Over October, TVL for the latter rose by 39%.<\/li>\n<li>By month\u2019s end, the combined market cap of \u201cBitcoin on Ethereum\u201d assets fell to $5.4 billion. The WBTC dominance index rose to 93%.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"582\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-10-1024x582.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189786\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-10-1024x582.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-10-1024x582.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-10-300x171.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-10-768x437.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-dnevnogo-chisla-tranzaktsij-v-ekosistemah-Polygon-Ethereum-Binance-Smart-Chain-i-Avalanche-10.png 1240w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily transactions in Polygon, Ethereum, Binance Smart Chain and Avalanche ecosystems. Data: <a href=\"https:\/\/tronscan.org\/#\/data\/stats2\/transaction\/txOverviewStatsType\">TronScan<\/a>, <a href=\"https:\/\/etherscan.io\/chart\/tx\">Etherscan<\/a>, <a href=\"https:\/\/bscscan.com\/chart\/tx\">BscScan<\/a>, <a href=\"https:\/\/snowtrace.io\/chart\/tx\">SnowTrace<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"512\" height=\"269\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/OpenSea-17.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189827\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/OpenSea-17.png 512w, https:\/\/forklog.com\/wp-content\/uploads\/OpenSea-17-300x158.png 300w\" sizes=\"auto, (max-width: 512px) 100vw, 512px\" \/><figcaption class=\"wp-element-caption\">OpenSea NFT marketplace trading volume, USD billions. Data: <a href=\"https:\/\/dune.xyz\/rchen8\/opensea\">Dune Analytics<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>In October, OpenSea\u2019s NFT market trading volume fell for five straight months, totaling $319.25 million (232,985 ETH).<\/li>\n<li>Meanwhile, some projects gained traction. NFT collections Art Blocks (+101%), Azuki (+76%) and Gods Unchained (+50%) posted notable gains.<\/li>\n<li>Reddit\u2019s NFT sell-through exceeded $9 million.<\/li>\n<li>There was a marked rise in NFT sales volume on Immutable X and Polygon networks.<\/li>\n<\/ul>\n<\/div>\n<h2 class=\"wp-block-heading\">Activity of Major Players<\/h2>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"383\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin-1024x383.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189830\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin-1024x383.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin-300x112.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin-768x287.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Krupnejshie-publichnye-kompanii-uderzhivayushhie-v-rezervah-bitkoin.png 1034w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Largest publicly traded companies holding Bitcoin in reserves. Data: <a href=\"https:\/\/bitcointreasuries.net\/\">Bitcoin Treasuries<\/a>.<\/figcaption><\/figure>\n<ul class=\"wp-block-list\">\n<li>Tesla, in its Q3 report, <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1582838612043124736?s=20&#038;t=gx1hnzPmZqEgNuGrTGVwMw\">said<\/a> it continues to hold Bitcoin on its balance sheet valued at $218 million. Market participants saw this as a positive signal given Tesla\u2019s stance on cash crypto hoards).<\/li>\n<li>Marathon Digital Holdings, for September, <span data-descr=\" mined BTC\" class=\"old_tooltip\">mined<\/span> 616 BTC and increased its crypto reserves to 10,670 BTC. Bitcoin Treasuries shows Marathon\u2019s holdings at 10,055 BTC, up 3.44% versus Tesla.<\/li>\n<li>Other miners\u2019 digital reserves have remained steady, underscoring confidence in Bitcoin\u2019s mid- to long-term prospects.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"990\" height=\"561\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchers-na-CME..png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189832\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchers-na-CME..png 990w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchers-na-CME.-300x170.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-otkrytogo-interesa-po-bitkoin-fyuchers-na-CME.-768x435.png 768w\" sizes=\"auto, (max-width: 990px) 100vw, 990px\" \/><figcaption class=\"wp-element-caption\">Open interest in Bitcoin futures on the CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"923\" height=\"517\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institucionalov-Commercial-na-CME..png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189833\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institucionalov-Commercial-na-CME..png 923w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institucionalov-Commercial-na-CME.-300x168.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Dinamika-pozitsij-krupnyh-igrokov-institucionalov-Commercial-na-CME.-768x430.png 768w\" sizes=\"auto, (max-width: 923px) 100vw, 923px\" \/><figcaption class=\"wp-element-caption\">Positions of large institutional players (Commercial) on CME. Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>Open interest (OI) on Bitcoin futures rose modestly for the month\u2014by 4%. Overall, the metric shows an upward trend and a gradual return to year-ago levels.<\/li>\n<li>Longs vs. shorts among hedge funds and other big players (Non-Commercial) were roughly balanced. Among smaller traders (Nonreportable) long positions slightly prevailed.<\/li>\n<li>Among institutional players (Commercial), shorts were dominant, but the gap with longs is narrowing.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk review_single_blk\">\n<div class=\"wp-block-monthly-reviews-two-halves-wrapper reviews_has_halves\">\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1019\" height=\"540\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Otkrytyj-interes-po-mikrofyuchersam-na-bitkoin-CME-3.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189834\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Otkrytyj-interes-po-mikrofyuchersam-na-bitkoin-CME-3.png 1019w, https:\/\/forklog.com\/wp-content\/uploads\/Otkrytyj-interes-po-mikrofyuchersam-na-bitkoin-CME-3-300x159.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Otkrytyj-interes-po-mikrofyuchersam-na-bitkoin-CME-3-768x407.png 768w\" sizes=\"auto, (max-width: 1019px) 100vw, 1019px\" \/><figcaption class=\"wp-element-caption\">Open interest in Bitcoin microfutures (CME). Data: <a href=\"https:\/\/www.cftc.gov\/MarketReports\/CommitmentsofTraders\/index.htm\">CFTC<\/a>.<\/figcaption><\/figure>\n<\/div>\n<div class=\"wp-block-monthly-reviews-half review_half\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"948\" height=\"383\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Obshhee-chislo-trejderov-mikrofyuchersami.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" class=\"wp-image-189835\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Obshhee-chislo-trejderov-mikrofyuchersami.png 948w, https:\/\/forklog.com\/wp-content\/uploads\/Obshhee-chislo-trejderov-mikrofyuchersami-300x121.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Obshhee-chislo-trejderov-mikrofyuchersami-768x310.png 768w\" sizes=\"auto, (max-width: 948px) 100vw, 948px\" \/><figcaption class=\"wp-element-caption\">Total number of microfutures traders. Data: CFTC.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<ul class=\"wp-block-list\">\n<li>OI in microfutures on Bitcoin remained broadly unchanged since March, currently below its peak at the end of October 2021 by about 63%.<\/li>\n<li>Over the year, the number of traders in these relatively new instruments declined sharply \u2014 down 45%. With a market revival, the indicators above may resume growth.<\/li>\n<li>In terms of long vs. short positions among market participants, the picture is broadly similar to Bitcoin futures. The notable difference is that among institutional players longs are still heavily outweighed by shorts.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-monthly-reviews-main-blk has_ventures review_single_blk\">\n<div class=\"wp-block-monthly-reviews-three-halves-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$165m<\/strong><\/p>\n<p>Uniswap, a decentralised exchange, in a Series B round led by Polychain Capital.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$150m<\/strong><\/p>\n<p>BlockTower Capital for a Web3-focused venture fund.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$55m<\/strong><\/p>\n<p>Celestia Foundation backing the development of modular blockchains. Funds will support launches and partnerships.<\/p>\n<\/div>\n<\/div>\n<div class=\"wp-block-monthly-reviews-three-halves-wrapper reviews_has_thirds\">\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$41.5m<\/strong><\/p>\n<p>Tatum, a platform for building blockchain apps. Round led by Evolution Equity Partners.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$40m<\/strong><\/p>\n<p>Golden, a Web3 data transfer protocol, with Andreessen Horowitz as lead investor.<\/p>\n<\/div>\n<div class=\"wp-block-monthly-reviews-third review_third\">\n<p style=\"font-size:24px\"><strong>$40m<\/strong><\/p>\n<p>Horizon Blockchain Games, behind Skyweaver, following Series A.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">Regulation<\/h2>\n<div class=\"review_single_blk has_map review_2_map\">\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Group-2644-8-1.png\" alt=\"October in numbers: miners on the brink of unprofitability, Ethereum censorship, and a potential Bitcoin price bottom\" width=\"2350\" height=\"1182\"><\/p>\n<div class=\"country_blk\" data-blk=\"1\">Kraken <a href=\"https:\/\/forklog.com\/en\/news\/kraken-bars-russian-users-from-registering-accounts\">blocked<\/a> users from the <strong>Russia<\/strong>. Later EU sanctions <a href=\"https:\/\/forklog.com\/en\/news\/localbitcoins-and-blockchain-com-suspend-services-for-russian-citizens\">followed<\/a> Crypto.com, Blockchain.com and others.<\/div>\n<div class=\"country_blk\" data-blk=\"2\">EU Council members <a href=\"https:\/\/forklog.com\/en\/news\/eu-council-finalises-mica-bill-text\">signed<\/a> the MiCA cryptocurrency regulation text. The initiative <a href=\"https:\/\/forklog.com\/en\/news\/european-parliament-committee-backs-mica-bill\">was backed by<\/a> the Economic and Monetary Affairs Committee of the European Parliament.<\/div>\n<div class=\"country_blk\" data-blk=\"3\"><strong>Kazakhstan<\/strong> <a href=\"https:\/\/forklog.com\/en\/news\/kazakhstan-approves-crypto-regulation-and-mining-in-first-reading\">approved<\/a> crypto mining and cryptocurrency regulation in the first reading.<\/div>\n<div class=\"country_blk\" data-blk=\"4\">In the <strong>UK<\/strong>, crypto assets <a href=\"https:\/\/forklog.com\/en\/news\/uk-to-classify-cryptocurrencies-as-financial-instruments\">will be treated as<\/a> financial instruments.<\/div>\n<div class=\"country_blk\" data-blk=\"5\">The Hong Kong Financial Services and the Treasury <strong>softened<\/a> crypto regulation and revised its stance on Bitcoin ETFs.<\/strong><\/div>\n<div class=\"country_blk\" data-blk=\"6\">In <strong>South Korea<\/strong>, authorities <a href=\"https:\/\/forklog.com\/en\/news\/south-korea-to-monitor-crypto-whale-activity\">will monitor<\/a> crypto-king activity with assets over 100 million KRW (~$70,000).<\/div>\n<div class=\"country_blk\" data-blk=\"7\">Portugal\u2019s budget includes crypto taxation <a href=\"https:\/\/forklog.com\/en\/news\/portugal-budget-proposal-includes-taxation-of-cryptocurrencies\">as a consideration<\/a>.<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\">Highlight of the Month<\/h2>\n<div class=\"reviews_has_halves stretch has_articles\">\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/forklog.com\/wp-content\/uploads\/Bitcoin_HB-min.png);\"><strong><a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-white-paper-marks-14-years-since-publication\">14 years since the Bitcoin white paper was published<\/a><\/strong><\/div>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/forklog.com\/wp-content\/uploads\/elon_musk_a-min.png);\"><strong><a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-closes-deal-to-buy-twitter\">Elon Musk closes Twitter deal<\/a><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"reviews_has_halves stretch has_articles\">\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/forklog.com\/wp-content\/uploads\/Telegram-min.png);\"><strong><a href=\"https:\/\/forklog.com\/en\/news\/telegram-team-launches-fragment-platform-to-sell-usernames\">Telegram team launches Fragment to sell usernames<\/a><\/strong><\/div>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/forklog.com\/wp-content\/uploads\/BinanceExchange.png);\"><strong><a href=\"https:\/\/forklog.com\/en\/news\/binance-announces-aptos-listing\">Aptos announces mainnet launch<\/a><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"reviews_has_halves stretch has_articles\">\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/forklog.com\/wp-content\/uploads\/hack_c-min.png);\"><strong><a href=\"https:\/\/forklog.com\/en\/news\/bnb-chain-team-restores-network-after-100-million-hack\">Unknown actor hacked BNB Chain, $100m stolen<\/a><\/strong><\/div>\n<\/div>\n<\/div>\n<div class=\"review_half\">\n<div class=\"review_article_blk\">\n<div class=\"review_article_image\" style=\"background-image: url(https:\/\/forklog.com\/wp-content\/uploads\/SUN-min.png);\"><strong><a href=\"https:\/\/forklog.com\/en\/news\/media-outlets-name-justin-sun-as-huobi-buyer-tron-founder-denies-rumours\">Media labels Justin Sun as Huobi buyer; he joins the Advisory Council<\/a><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trading volume on centralized exchanges fell to a 2020-low; many on-chain metrics signalled a market-cycle bottom; miners faced unprofitability, and October featured other notable developments.<\/p>\n","protected":false},"author":1,"featured_media":69564,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"4","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[1144],"tags":[1740],"class_list":["post-69563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-longreads","tag-bitcoin-industry-in-numbers"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"4","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69563"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69563\/revisions"}],"predecessor-version":[{"id":69565,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69563\/revisions\/69565"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69564"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}