Portofino Mint - 6 October 2025

🚀 𝗪𝗲𝗹𝗰𝗼𝗺𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗣𝗼𝗿𝘁𝗼𝗳𝗶𝗻𝗼 𝗠𝗶𝗻𝘁!

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📊 Week in Review: Crypto Roars Back

Crypto markets stormed back to life this week, and Bitcoin stole the show. The king of crypto smashed through $125,000, breaking previous records and igniting a wave of optimism across the market. Ethereum followed suit, climbing past $4,600, while Solana, BNB, and XRP enjoyed solid gains.

ETF inflows poured in like clockwork: $3.24 billion into Bitcoin and $1.3 billion into Ethereum. Meanwhile, the decentralized world celebrated as perpetual DEX volumes topped $1 trillion in September, driven by Aster, Hyperliquid, and Lighter. On the stablecoin front, the total market cap soared past $300 billion, led by USDT at $176 billion—a strong signal of renewed liquidity and participation.

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🏆 Bitcoin & Ethereum: Setting New Records

• ‍Bitcoin (BTC)‍
  • Started the week at $112,163, rocketed to All-Time-High $125,708, posting six of seven green sessions.
  • ETF inflows hit a record $3.24 billion, triggering over $130 million in short liquidations.
  • Derivatives show a positive spot/vol correlation, reflecting strong demand for upside exposure.
  • Exchange reserves sit at six-year lows, signaling institutional accumulation
  • ‍RSI neutral, positive spot/vol correlation; short-term pullbacks likely absorbed quickly.

• Ethereum (ETH)
  
  • Climbed from $4,142 to $4,618, supported by $1.3 billion in ETF inflows.
  • The Fusaka upgrade on the Holesky testnet passed with flying colors, introducing PeerDAS to reduce validator costs and streamline Layer 2 operations.
  • Holding above $4,500, staking yields may add upside support.

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🪙 Altcoins & Layer-1 Stars

• Solana (SOL): $232, +2%
• BNB: $1,167, +8%, powering PancakeSwap’s 34% rally to $3.58 and record DEX revenue of $49.7M in 30 days.
• NEAR Protocol: $2.86, +10%, surged on a Cardano partnership enabling cross-chain ADA swaps.
• Zcash (ZEC): Up 172% over the past week, spotlighting growing investor appetite for privacy-focused projects.
• ‍Perpetual DEXs reached a milestone: September volumes topped $1 trillion, up 48% from August. Early October trading already exceeded March’s monthly total, proving the momentum is far from slowing.

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🏢 Macro & Market Context

• The U.S. government shutdown paused key economic data releases, leaving markets to rely on alternative indicators like ADP payrolls (-32,000 jobs).
• Risk appetite remains strong: both S&P 500 and gold hit new highs, while crypto soared.
• With official data on hold, Fed policy guidance will be closely watched. Markets expect that rate-cut optimism will continue to support crypto and other hedges.

Seasonal tailwind: “Uptober” is in full swing. Historically, October has been Bitcoin’s strongest month, averaging 28% gains since 2013. Combine that with macro uncertainty and strong ETF flows, and the setup looks bullish.InsightsMajors dominated trading, particularly BTC and ETH, with measured altcoin engagement in SOL, SUI, and smaller names like GEOD, BASEDAI, and L3.

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🏛️ Regulatory & Institutional Highlights

• Coinbase: U.S. national trust charter application moves crypto closer to traditional banking.
• VanEck: Lido-staked Ethereum ETF filed, unlocking regulated staking exposure.
• Robinhood CEO predicts tokenization adoption in major markets by 2030, calling it a “freight train that can’t be stopped.”
• NFT Legal Update: Bored Ape NFTs ruled not securities, clearing uncertainty for the NFT ecosystem.

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🌐 NFT & Tokenization Spotlight

• Hyperliquid Hypurr NFTs: ~$75,000 weekly trading post-launch.
• Trump-backed World Liberty Financial: Exploring tokenized commodities (oil, gas, cotton, timber).
• FLOKI: Launched first European ETP, bridging meme coins with regulated markets.
• Sui Group Holdings: Planning dual stablecoins—yield-bearing suiUSDe and non-yield USDi.

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📆 Key Events Next Week: A data-heavy week likely to guide markets

• 𝗙𝗢𝗠𝗖 𝗠𝗶𝗻𝘂𝘁𝗲𝘀 (𝗦𝗲𝗽)  Wednesday  key insights into the Fed’s inflation outlook and potential rate-cut timing.

• 𝗘𝗖𝗕 𝗠𝗶𝗻𝘂𝘁𝗲𝘀 (𝗦𝗲𝗽) - Thursday - markets will parse language for signs of a dovish shift amid slowing EU growth.

• 𝗨𝗦 𝗘𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗧𝗿𝗲𝗻𝗱𝘀 (𝗦𝗲𝗽) - Monday - a proxy for labor market strength in the absence of official payroll data.

• 𝗚𝗲𝗿𝗺𝗮𝗻 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗢𝗿𝗱𝗲𝗿𝘀 (𝗔𝘂𝗴) - Tuesday - a critical read on European manufacturing momentum and risk sentiment.

• 𝗖𝗮𝗻𝗮𝗱𝗶𝗮𝗻 𝗘𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗥𝗲𝗽𝗼𝗿𝘁 (𝗦𝗲𝗽) - Friday - labor data that could influence North American rate expectations and CAD-USD flows.

• 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝗠𝟮 & 𝗡𝗲𝘄 𝗬𝘂𝗮𝗻 𝗟𝗼𝗮𝗻𝘀 (𝗦𝗲𝗽) - Friday - fresh signals on China’s liquidity stance and global risk appetite—key for crypto demand cycles.

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📌  Takeaway: Crypto roared back in style this week

Bitcoin smashed records, altcoins rallied, DEX volumes soared, and institutional adoption accelerated. ETF flows, tokenization initiatives, and strong market positioning suggest Q4 could be explosive for the sector.Markets are watching macro cues, derivative positioning, and regulatory developments, but the story is clear: crypto is thriving amid uncertainty.

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📅 Missed last week’s update? Catch up on all headlines in the previous Portofino Mint.

𝘛𝘩𝘪𝘴 𝘮𝘦𝘴𝘴𝘢𝘨𝘦 𝘪𝘴 𝘧𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺 𝘢𝘯𝘥 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘤𝘰𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘐𝘭𝘭𝘶𝘴𝘵𝘳𝘢𝘵𝘪𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘦𝘥 𝘸𝘪𝘵𝘩 𝘊𝘩𝘢𝘵𝘎𝘗𝘛.

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