On October 29 the regulator cut<\/a> the key rate by 25 bps to 3.75\u20134%. According to the Fed, indicators point to moderate growth in economic activity while inflation remains elevated.<\/p>\n The central bank also announced it would wind down quantitative tightening from December 1. Chair Jerome Powell noted that the US economy is currently being materially affected by the government shutdown, which is also delaying the release of key indicators.<\/p>\n The move matched market expectations and, seemingly for that reason, failed to lift the leading cryptocurrency.<\/p>\n Almost immediately after the Fed meeting, digital gold slipped below $110,000. By Thursday the correction bottomed around $106,000.<\/p>\n Bitcoin then recovered to $110,000 after a \u201cwonderful\u201d meeting<\/a> between the US and Chinese presidents\u2014Donald Trump and Xi Jinping\u2014where they agreed to ease tariffs.<\/p>\n At the time of writing, digital gold trades around $110,700, down 5% on the week. Its market capitalisation is $2.2 trillion.<\/p>\n Ethereum also failed to hold<\/a> above $4,000. Over seven days the coin fell from $4,200 to $3,800\u2014down 9.5%.<\/p>\n Other top-10 assets also turned red. The worst performers were SOL (-6.1% over the week), DOGE (-6.3%) and ADA (-7.8%).<\/p>\n Total crypto market value fell to $3.8 trillion. Bitcoin dominance is 58%, Ethereum 12.3%.<\/p>\n The Crypto Fear and Greed Index<\/a> is at 37, indicating \u201cfear\u201d. <\/p>\n On Tuesday, October 28, the first US spot exchange-traded fund<\/a> based on Solana with staking<\/a>\u2014Bitwise\u2019s BSOL\u2014debuted<\/a> on the NYSE<\/span>. The company stakes 100% of assets in the protocol.<\/p>\n The next day Grayscale launched<\/a> an ETF under the ticker GSOL, converted from a trust. Seventy-seven percent of coins are staked.<\/p>\n For the truncated trading week, net inflows totalled<\/a> $199.2 million, and assets under management reached $500 million.<\/p>\n BSOL captured most of the flows and AUM\u2014$197 million and $400 million, respectively. Average daily turnover was about $60 million.<\/p>\n Bloomberg ETF analyst Eric Balchunas said the Bitwise product delivered the strongest start among all funds launched this year.<\/p>\n Even so, SOL barely reacted. At the time of writing the asset trades around $185. <\/p>\n ETFs based on LTC<\/a> and HBAR also launched during the week but attracted far less interest. Over the week the Hedera vehicle saw net inflows of $44 million<\/a>, while the Litecoin product drew just $719,000<\/a>.<\/p>\n Bitcoin ETFs, meanwhile, had a \u201cred week\u201d with outflows totalling $607 million<\/a>. Ethereum funds took in net inflows of $114 million<\/a>.<\/p>\n A new BIP<\/span>-444 split<\/a> the bitcoin community. The initiative would temporarily restrict the ability to add arbitrary data to the blockchain to reduce the risk of hosting illegal content.<\/p>\n \u201cIf the blockchain contains data that is illegal to store or distribute, node operators are forced to choose between breaking the law (or their moral principles) and disconnecting from the network. This unacceptable dilemma directly undermines incentives to validate, leads to inevitable centralisation and creates an existential threat to bitcoin\u2019s security model,\u201d the documentation states.<\/p>\n<\/blockquote>\n The change is aimed at limiting OP_RETURN, which some say clutters bitcoin\u2019s blockchain. Previously, the Bitcoin Core v30 upgrade raised the data limit in outputs from 80 to 100,000 bytes.<\/p>\n In BIP-444 a developer using the pseudonym dathonohm proposed capping OP_RETURN outputs at 83 bytes and most other scriptPubKeys at 34.<\/p>\n This would block large scripts and data, including \u201cinscriptions\u201d via Ordinals<\/a>, limit the size of embedded Merkle trees<\/a> in Taproot<\/a> outputs, and forbid OP_IF inside Tapscripts.<\/p>\n Implementing the proposal would require a soft fork, under which previously valid transactions would become invalid\u2014but only for one year. During that time, the plan is to assess the situation and implement alternative methods for storing arbitrary data on-chain.<\/p>\n \u201cThis is not a perfect proposal, but good enough and simple enough to buy time for developing a long-term solution,\u201d said lead Bitcoin Core developer Luke Dash Jr.<\/p>\n<\/blockquote>\n Critics of BIP-444 argue that limiting data sizes contradicts a fundamental principle of bitcoin and amounts to censorship, and that a soft fork could entail \u201clegal or moral consequences\u201d.<\/p>\n Over the past seven days, privacy tokens led the market by growth. Their combined capitalisation rose to $24 billion, according to CoinGecko<\/a>.<\/p>\n The main driver was Zcash<\/a> (ZEC). Over the past seven days the asset rose 16%; over the month, 163%.<\/p>\n At the time of writing the coin trades at $380.<\/p>\n Zcash matched Monero by market capitalisation and at times even surpassed<\/a> it.<\/p>\n On October 28 the project marked<\/a> its ninth anniversary. Since September, the volume of shielded transactions in the privacy coin<\/a> has reached a record 4.9m ZEC<\/a>.<\/p>\n Among other successful privacy coins was DASH. The asset rose<\/a> 90% over the week to $91.<\/p>\n Also on ForkLog:<\/strong><\/p>\n At the Blockchain Life in Dubai 2025 conference, Telegram founder Pavel Durov announced<\/a> Cocoon\u2014a decentralised network for privately executing AI requests on the TON blockchain.<\/p>\n The solution will allow app developers to pay for compute to process requests in Toncoin, while GPU owners will earn rewards for providing capacity. <\/p>\n \u201cAll data are encrypted, so participants cannot see which requests are being processed. You could call this \u2018private AI on the TON blockchain\u2019,\u201d the project description states.<\/p>\n<\/blockquote>\n Telegram will be the network\u2019s first client and will invest in its global roll-out. Cocoon is slated to launch in November.<\/p>\n Durov noted that the platform will allow more than one billion people to use AI features privately, transparently and efficiently.<\/p>\n On the past, present and possible future of digital-identity systems, read<\/a> our new feature on ForkLog.<\/p>\n![\"image\"](\"https:\/\/forklog.com\/wp-content\/uploads\/img-7fe437f4729437d9-8488021110173343-1024x488.png\")
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A strong start for SOL ETFs<\/h2>\n
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What to discuss with friends?<\/h2>\n
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Debating bytes<\/h2>\n
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Privacy in demand<\/h2>\n
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AI on Telegram<\/h2>\n
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What else to read?<\/h2>\n