Today: Whales lose their winning streak

Traditional markets and macro tone

• The Dow Jones fell 0.48%, while the Nasdaq rose 0.46% and the S&P 500 gained 0.17%.
• Bond yields and the dollar inched higher, with the 10-year Treasury yield up 0.66% to 4.11% and the DXY rising 0.11% to 99.99.
• Gold retreated 0.37% to $3,987.42, extending its correction as rate-cut bets remained uncertain.

Industry highlights

Whale streak breaks: 

DeFi setback: 

Security exploits hit again as Balancer confirmed losses exceeding $116.6M, adding to its historical cumulative damage above $21M from previous flash-loan and front-end attacks.

Giggle collapses:

After briefly spiking above $110, GIGGLE plunged to $60.64 following confusion over whether the token was officially affiliated with the Giggle Fund. Market skepticism intensified after a senior figure clarified the token was not officially issued, triggering a rapid sell-off.

How to start trading Solana

Alpha watch

• Whales take heavy losses: One prominent wallet reportedly liquidated $4.3M in holdings, posting an estimated $3.6M realized loss. Individual token breakdowns include –$2.5M on a single position and nearly –$1M tied to another retail-linked wallet.
• Prediction market momentum: Polymarket set a new record in October with 477,850 monthly active traders, up 93.7% MoM, surpassing its previous January high of 462,600. The rebound marks a sharp recovery from August's trough of 227,420, confirming growing retail participation in on-chain prediction markets.