Today: MON confirms airdrop rules

Bitcoin regained strength while alts faltered, signaling the likely end of this round’s alt season. BTC dominance rose 0.46% to 59.32%, while the Altcoin Index plunged to 34, confirming the market’s shift back to majors.
 

 

Stablecoin flows remained robust. On October 15, inflows hit $1.26B, including $834.11M into USDT and $398.36M into USDC, pushing the total stablecoin supply to $263.28B, the highest level in weeks.
 
ETF flows stayed positive. On October 14, excluding BlackRock data, BTC ETFs brought in $118.7M, while ETH ETFs added $212.4M, reflecting ongoing institutional interest despite broader caution.
 

Macro and policy

Markets steadied after a volatile stretch. The Dow gained 0.44%, while the Nasdaq slipped 0.76% and the S&P 500 edged down 0.16%. Treasuries rallied, with the 10-year yield down 0.67% to 4.03%, and the DXY dropped 0.22% to 99.01. Gold rose 0.57% to $4,166.89, extending its record streak.
 
In a dovish turn, Fed Chair Jerome Powell said the labor market is showing “clear signs of strain” and hinted at a possible end to quantitative tightening in the coming months. Powell called the employment downturn “sufficient evidence” to support another 25 bp rate cut, with FedWatch now pricing the move at nearly 100% certainty.
 
Meanwhile, the U.S. government shutdown entered its 14th day, with no resolution in sight. The White House budget office confirmed continued staff layoffs across federal agencies, though pay for military and law enforcement remains unaffected.
 
On trade, The Kobeissi Letter published a step-by-step pattern analysis of Trump’s tariff announcements, noting that the cycle of “shock, selloff, rebound, and resolution” may now be entering its ninth phase, suggesting that new trade deals could emerge within weeks.

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Industry highlights

BNB Chain confirmed that its “Rebirth Support” airdrop for meme traders is now live, distributing $45M in aid to affected users.
 
Elsewhere, DeFiance Capital’s Arthur reassured investors that the fund remains solvent despite drawdowns. “This was not among our top-five volatility days,” he said. “I’m more disappointed by the reputational damage this caused to the broader altcoin market.”

Alpha watch

  • Trader Eugene called the market “hell mode,” warning against major directional plays: “If you were hit in the last crash, do nothing. Sit out.”
  • MON airdrop criteria are live at claim.monad.xyz. Only high-activity mainnet users are eligible; testnet users will receive nothing.
    • Criteria include:
      • Active DEX traders on Hyperliquid, Phantom Wallet, Pump.fun, and Virtuals.
      • Major DeFi depositors on Aave, Curve, Pendle, Uniswap, and PancakeSwap.
      • Holders of prominent NFTs such as Azuki, Pudgy Penguins, Milady Maker, and SMB.
      • Participants in recent DeFi DAO governance votes.
    • Snapshot was taken on Sept 30, 2025, 23:59 UTC.
  • Farcaster launched a 52% APY deposit campaign for existing users on Base, paid weekly in USDC for ten weeks.
    • New users are excluded.
    • Each account’s max reward is $500 USDC, with a 1% weekly yield cap and balance-hold requirement.
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