CoinDesk

**BNB has secured its position as the third-largest cryptocurrency by market capitalization** following an impressive 45% price surge over the past month. The rally builds on recent positive developments including: - Reduced gas fees on the BNB Chain network - Kazakhstan's state-backed Alem Crypto Fund selecting BNB as its inaugural investment - Continued momentum from September when BNB overtook Solana for fifth place This rapid ascent demonstrates BNB's growing institutional adoption and technical improvements to its ecosystem. The token has now leapfrogged multiple competitors in just weeks.

**Institutional demand and favorable policies** drove crypto's Q3 recovery, with a surprising twist. **Ether ETF flows surpassed Bitcoin** for the first time, signaling a major shift in institutional allocation strategies. This marks a reversal from earlier trends where Bitcoin dominated institutional inflows. **Key developments:** - Altcoins surged as Bitcoin dominance declined - Multi-asset approach gaining traction among institutions - Policy environment becoming more crypto-friendly The shift suggests **institutions are diversifying** beyond Bitcoin, embracing a broader crypto portfolio approach rather than single-asset concentration.

**ByBit has achieved a significant milestone** by becoming the first cryptocurrency exchange to receive full regulatory approval from the UAE's Securities and Commodities Authority. This marks a major step forward from their previous in-principle approval received in March 2025. The full authorization allows ByBit to operate as a fully regulated crypto exchange in the UAE market. **Key implications:** - Sets precedent for crypto regulation in the Middle East - Strengthens UAE's position as a crypto-friendly jurisdiction - Provides regulatory clarity for other exchanges seeking similar approval The approval demonstrates the UAE's commitment to establishing clear regulatory frameworks for digital assets while maintaining investor protection standards.

The **Monad team announced** that their airdrop claims portal will open this month, allowing eligible users to claim their tokens. This follows Monad's official launch on September 29th, which marked a significant milestone for the Layer 1 blockchain project. - Claims portal opening represents the next phase of Monad's token distribution - Users should prepare their wallets and verify eligibility requirements - Specific opening date within the month has not been disclosed yet The announcement was shared via the team's official X account, providing the community with an update on the anticipated token distribution timeline.

**Analyst Mark Palmer highlights MicroStrategy's strategic advantage** through its bitcoin-linked perpetual preferred shares structure. The company's innovative financing approach provides: - **Sustained capital access** for bitcoin acquisitions - **Up to 6% dividend yields** on preferred shares - **Dedicated funding pipeline** with all proceeds earmarked for BTC purchases This perpetual preferred share model gives MicroStrategy a **competitive edge** in maintaining its bitcoin treasury strategy while offering investors exposure to both dividend income and bitcoin price movements. The structure allows continuous capital raising without diluting common shareholders while building the world's largest corporate bitcoin holdings.

**Bitcoin faced downward pressure** Thursday as the U.S. dollar strengthened and investor risk appetite declined. Meanwhile, **Binance launched Meme Rush**, a new platform specifically targeting the growing speculation in Chinese-language memecoins. The dual developments highlight ongoing market volatility and the exchange's strategic expansion into regional memecoin trading amid shifting global economic conditions.

**Barry Silbert's latest venture** targets accredited investors seeking exposure to decentralized AI. **Yuma Asset Management** serves as a gateway to the Bittensor ecosystem, which operates as a decentralized network for AI development and training. **Key details:** - Focuses specifically on accredited investors - Provides structured access to Bittensor's AI network - Part of DCG's expanding portfolio in decentralized technologies **Background context:** This follows Silbert's November 2024 launch of Yuma as a decentralized AI venture to fund Bittensor projects. **What this means:** Traditional investors now have a regulated pathway into decentralized AI infrastructure through established financial channels.

A new **State Street survey** reveals that tokenized private markets are emerging as the **first major wave** of blockchain adoption in traditional finance. The findings suggest that institutional investors are increasingly recognizing the potential of blockchain technology to transform how private market assets are traded and managed. **Key implications:** - Traditional financial institutions are moving beyond experimental phases - Private markets tokenization offers improved liquidity and accessibility - This trend builds on growing interest from major financial players in blockchain solutions The survey results indicate a **significant shift** in institutional sentiment toward blockchain technology, particularly in areas where it can solve existing market inefficiencies. This development follows previous observations that tokenized financial products represent just the beginning of broader blockchain integration across traditional finance sectors.

A major bank forecasts that **Solana exchange-traded funds** will capture significantly less investor interest than Ethereum ETFs. The prediction aligns with current market trends: - SOL ETFs have historically attracted **much smaller inflows** than Bitcoin and Ethereum funds - Ethereum maintains stronger institutional appeal despite Solana's technical advantages - **Market positioning** continues to favor established cryptocurrencies over newer alternatives This conservative outlook reflects the **cautious institutional approach** to altcoin exposure through traditional investment vehicles. The bank's assessment suggests Solana may face an uphill battle in attracting mainstream ETF investment despite its growing ecosystem.

**Institutional investors are upgrading their crypto analysis game.** Bitwise's Hunter Horsley reports that institutional players have moved beyond basic metrics to employ **sophisticated and reliable analysis methods** for crypto investment selection. This shift reflects the **digital asset market's maturation** - institutions are treating crypto with the same analytical rigor as traditional assets. - More advanced due diligence processes - Enhanced risk assessment frameworks - Professional-grade evaluation criteria The evolution suggests crypto is gaining legitimacy in institutional portfolios as investors demand **higher standards of analysis** before committing capital. This development builds on growing institutional confidence, with many firms planning increased long-term crypto allocations according to recent surveys.