Key Takeaways
- Crypto Market Performance: In October, the total cryptocurrency market capitalization showed a rise-then-fall pattern — climbing from around $4 trillion to above $4.4 trillion at the beginning of the month, then dropping to roughly $3.8 trillion mid-month, before a mild rebound at the end that still failed to recover the initial levels. This reflected weak market confidence and a stabilizing trend.
- Major Public Chain Activity: Among leading blockchains, Solana continued to dominate transaction activity, with an average of 80–100 million daily transactions. Base and Polygon PoS followed with roughly 10 million and 4 million daily transactions, respectively, while Ethereum and Arbitrum maintained relatively stable volumes.
Trending Ecosystem Developments: Driven by the rise of the “BTCFi” narrative, Starknet saw significant increases in both capital inflows and on-chain activity. Its TVL surged from $170 million at the end of September to $245 million, indicating growing ecosystem momentum and strengthening market confidence.
Funding & Security Incidents: The Web3 industry recorded 130 funding deals in October totaling $5.12 billion, representing a 28.43% month-over-month increase and a 104.8% surge in total capital raised, marking the second-highest level in nearly a year. Capital primarily flowed into “innovative finance and infrastructure,” with DeFi leading at $2.15 billion, surpassing blockchain services and CeFi, while application-layer projects experienced a decline in interest.
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Author: Puffy, Akane, Shirley, Ember
Reviewer(s): Puffy, Akane, Shirley, Ember
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