Odaily reports that Yi Lihua, founder of Liquid Capital, stated in a post that the ongoing decline of the crypto primary market is mainly driven by four factors: first, traditional narratives ranging from whitepapers and institutional backing to TVL wash trading are gradually losing effectiveness; second, project supply is severely oversupplied, with tens of thousands of projects competing, making it significantly harder for quality projects to stand out; third, the "1+3" unlock mechanism is unfavorable to VCs; fourth, the listing costs on top-tier CEXs are prohibitively high, pushing primary market projects to seek higher valuations and larger-scale fundraising.

Yi Lihua believes that reversing the current situation requires joint efforts from leading industry participants, including improving the listing screening mechanisms of top CEXs like Binance, abolishing the "1+3" unlock mechanism, and pushing crypto projects to return to real revenue and token buybacks, so that through performance growth and value sharing, secondary market investors can genuinely identify quality projects.

Odaily reports that according to SoSoValue data, HYPE spot ETFs recorded a net inflow of $3.306 million during last week's trading days (September 28 to October 2, Eastern Time).

The HYPE spot ETF with the largest net inflow last week was Grayscale's Hyperliquid Staking ETF HYPG, with a weekly net inflow of $8.3355 million. HYPG's total historical net inflow has now reached $153 million.

The HYPE spot ETF with the largest net outflow last week was the Bitwise ETF BHYP, with a weekly net outflow of $5.0295 million. BHYP's total historical net inflow has now reached $144 million.

As of press time, the total net asset value of HYPE spot ETFs stands at $478 million, with the ETF net asset ratio (market value as a proportion of HYPE's total market value) reaching 2.48%, and cumulative historical net inflows having reached $346 million.

Odaily News: According to SoSoValue data, XRP spot ETFs recorded net inflows of $4.7439 million during last week's trading days (September 28 to October 2, Eastern Time).

The XRP spot ETF with the largest net inflow last week was the Franklin Templeton ETF XRPZ, with weekly net inflows of $4.0650 million, bringing XRPZ's total historical net inflows to $505 million; followed by the Canary ETF XRPC, with weekly net inflows of $780,900, bringing XRPC's total historical net inflows to $490 million.

The XRP spot ETF with the largest net outflow last week was the Bitwise ETF XRP, with weekly net outflows of $101,900, while XRP's total historical net inflows currently stand at $677 million.

As of press time, the total net asset value of XRP spot ETFs is $1.660 billion, the ETF net asset ratio (market value as a proportion of XRP's total market value) stands at 1.79%, and cumulative historical net inflows have reached $1.790 billion.

According to Odaily Meme Express monitoring, the market cap of Chinese Dragon on BSC has broken $690,000.

Multiple users on X stated that Chinese Dragon has been packaged as a "Chinese Space Station mascot" concept coin on BSC; some have referred to it as the "Asteroid on BSC" and China's mascot.

"Meme Express" is curated by Odaily's exclusive AI model to screen potential community-hyped targets. The content is based on publicly available information and does not constitute investment advice. Please conduct your own due diligence and be aware of the high volatility risks associated with meme coins.

Odaily reports, according to Arkham monitoring, a wallet suspected to belong to IOSG Ventures staked 75,000 LINK this morning, worth approximately $1.06 million. The address subsequently withdrew over $11,000 in LINK staking rewards. Monitoring shows that the staked LINK tokens primarily came from another wallet address, 0x18a, rather than being purchased through a centralized or decentralized exchange.

Odaily reports that according to Onchain Lens monitoring, Hyperliquid bought back and burned 112,580 HYPE at a 90.2 USD volume-weighted average price over the past 24 hours, worth 10.15 million USD, possibly using AQAv2 revenue and fees. Its 24-hour estimated fees were 989,000 USD, 7-day revenue was 9.85 million USD, and 30-day revenue was 52.06 million USD. Currently, a cumulative total of 49.25 million HYPE has been permanently removed from supply, worth approximately 445 million USD.

Odaily reports that NFT whale Pranksy posted on X that "BAYC ruined NFTs." Pranksy argued that the technology of NFTs itself was overshadowed by the image of avatar-based projects like BAYC, and the public ultimately equated NFTs only with "ape projects." In the years that followed, the market was flooded with a large number of copycat NFT projects.

BAYC co-founder Greg Solano subsequently responded, saying that Pranksy had sold BAYC assets he believed "could have been worth $500 million" for several million dollars, and accused him of later promoting a large number of copycat projects. Greg Solano also said that Pranksy had founded multiple NFT-related companies, but those projects have now been removed from his X bio, adding: "Either be the change you want to see, or enjoy the wealth BAYC brought you."

Odaily Report: Zcash has activated the NU7 network upgrade on testnet at block height 4,465,026.

Odaily News: According to Onchain Lens monitoring, SMARTESTMONEY (0x082e...ca88) holds a 1.38 million HYPE long position with 5x leverage on Hyperliquid, valued at $125 million, with current unrealized profit of $71.13 million. The entry price was $38.68, the liquidation price is $76.34, $6.3 million in funding fees have been paid, and cumulative historical profit stands at $63.22 million.

Odaily News: According to MSX.COM data, shares of SKY treasury company SDEV have been climbing steadily since around $1 in late September, closing at $7.48 on October 2, with a cumulative gain of over 700% within 15 days. Its current market capitalization is approximately $387 million. During the same period, the price of SKY rose from around $0.8 to above $0.9.

According to the company's S-3/A filing submitted in September, as of September 13, SDEV held approximately 2.315 billion SKY, accounting for about 10% of SKY's total supply, with nearly all of these tokens staked in the Sky protocol.

1. SEC Chairman: More crypto regulatory rules will be introduced to ensure the market stays in the U.S.;

2. BTC and ETH short positions are both 1.5x the size of long positions, Hyperliquid whales lean bearish;

3. Deadline October 15: U.S. taxpayers with crypto transactions who filed for an extension for the 2025 tax year need to verify their filing information;

4. Over $6 million in assets stolen from an anonymous multisig vault on Base, identities of 7 signers unknown;

5. Safe early investor Greenfield Capital files complaint with Swiss regulators over foundation governance;

6. Bitget User Protection Fund replenished to 3,705 BTC, valued at $316 million;

7. Trump announces establishment of a Superintelligence Working Group to coordinate federal government efforts;

8. Strive Vice President Joe Burnett: AI may make it harder to accumulate Bitcoin through labor;

9. HyperLink completes $2.5 million funding round, aims to capture 10% of Hyperliquid's trading volume;

10. U.S. community bank organization sues OCC, seeking to block crypto firms from entering the banking system through trust charters.

Odaily: The deadline for extended individual federal income tax filings for the 2025 US tax year is October 15. This applies to taxpayers who previously requested an extension and is not a new deadline specific to crypto assets. An extension only extends the time to file, not the time to pay taxes. For digital asset transactions in 2025, the Form 1099-DA provided by brokers may not include cost basis, and taxpayers still need to calculate their gains or losses themselves and report them as required.

According to Lookonchain monitoring, trader Frank (@frankdegods) has been continuously buying 5.7 million EDEL since October 1, spending a total of $191,000. The position is currently worth $285,600, with an unrealized profit of $94,500.

Odaily reports that according to the latest Gate data, the price of gold has risen to $4,156.51 per ounce, up 0.36% intraday. Silver has climbed to $61.286 per ounce, up 1.8% intraday.

In forex, USD/CNH rose 0.05% intraday, with the current exchange rate at 6.70769. USD/JPY rose 0.06% intraday, with the current exchange rate at 157.731.

In global equity indices, the Euro Stoxx 50 (EUSTX50) rose 1.03% intraday to 6,255.43; the UK FTSE 100 (UK100) fell 0.03% intraday to 10,499.5; and the Germany DAX 40 (GER40) fell 0.06% intraday to 25,280.3.

In commodities, WTI crude oil fell 1.27% intraday to $92.78 per barrel. Brent crude oil fell 0.6% intraday to $105.66 per barrel.

Gate supports users in directly trading traditional financial market products within the platform, offering one-stop coverage of multiple asset classes including precious metals, forex, global stock CFDs, major indices, and commodities, enabling deep integration between crypto assets and traditional financial assets. Gate TradFi-related features have been fully integrated into the Gate App and Web platforms, allowing users to conveniently participate in global asset price trading without switching platforms, unlocking more strategies and opportunities beyond the crypto market and continuously enhancing the multi-asset allocation experience.

According to Lookonchain monitoring, 8 hours ago, Patricio Worthalter (@worthalter) deposited 4,000 ETH worth $10.79 million to Gemini.

Odaily News: As of October 5 at 08:19, among approximately 200 active addresses valued at over $3 million, BTC long positions totaled approximately $518 million, while short positions totaled approximately $830 million, giving a long-to-short ratio of 0.62; ETH long positions totaled approximately $687 million, while short positions totaled approximately $1.05 billion, giving a long-to-short ratio of 0.65.