BNB Memecoin Mania

Find out our latest reports, listed below:

• Metaplanet Is Selling Vol, Who Is Next?

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• Bybit x Block Scholes August Volatility Review

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• Bybit x Block Scholes Quarterly Report: What will drive crypto in Q3 2025?

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Market Snapshot: Overnight Moves:

Daily Updates:

• Bitcoin fell from $123K to a key support level of $120K in yesterday’s trading, and has ranged sideways since. That matches a similar sentiment in US risk-on markets, where Wall Street once more took a breather following a small rally on Wednesday.
• The pullback in BTC’s spot price coincides with a slower pace of buying from Spot Bitcoin ETFs — yesterday, the 11 funds purchased $197.8M worth of the asset, though that was a better performance than Ethereum-based products which saw outflows of $8.7M, the first day of outflows in Ethereum Spot ETFs since Sep 26, 2025.

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• Over the past week, many blue-chip crypto assets have all dropped in price. Ether is down 3% since Oct 3, 2025, XRP is down 8% and SOL trades 5% lower. That weighs up against an almost flat BTC and an outlier to the trend — BNB, which has rallied more than 15% in the past 7 days, buoyed by a memecoin mania that’s gripped the Binance smart chain.

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• Currently, it is difficult to find the upbeat ‘Uptober’ sentiment that derivatives markets entered the month of October with. Relative to one week ago, the entire term structure of implied volatility has lifted slightly higher, particularly for one-week contracts where IV has jumped 5 vol points.
• The 25-delta put-call skew ratio contextualises heightened volatility as due to the market’s fear of a further selloff, rather than hopes of a continued rally. Compared to one week ago (Oct 3, 2025), short-tenor vol smiles have shifted from demand for call optionality to a modest premium for OTM puts (see Charts of the Week below).

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• More divergence in policymakers' views for the path of monetary policy was on display yesterday. New York Fed President John Williams said “My own view is that yes, we would have lower rates this year, but we’ll have to see exactly what that means” during an interview with the New York Times published yesterday.
• Part of his reasoning is that “The shift really has not been the inflation data over the past few months. If anything the information suggested that the tariffs effects have been a little smaller than I expected. I think the shift is more on the employment side. The risks of a further slowdown in the labor market is something I’m very focused on.”
• On the other hand, Federal Reserve Governor Michael Barr has argued for a cautious approach — “Common sense would indicate that when there is a lot of uncertainty, one should move cautiously”.
• Barr argued that the immediate effects of President Trump’s tariff policies have been smaller than expected on inflation, however he echoed similar comments to Chair Powell in the September FOMC meeting that price increases may be on the horizon ahead, as firms seek to pass their higher costs on.
• According to Barr, “While, in principle, tariffs are a one-time increase in prices and should not sustainably raise inflation, that may not be the case if prices keep rising month after month and affect expectations” according to Barr.
• At least for now, “There has been nothing ‘one-time’ or predictable about these tariff increases”.

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• Coinbase and Mastercard are both in advanced talks to acquire London-based stablecoin infrastructure firm BVNK, according to Fortune. The potential sale is valued between $1.5B and $2.5B, with Coinbase currently seen as the frontrunner.
• If successful, this would represent the largest acquisition in the stablecoin sector, surpassing Stripe’s $1.1B purchase of Bridge in 2024.
• Founded in 2021, BVNK provides stablecoin payment infrastructure to clients such as Worldpay, Flywire, and dLocal, processing more than $20B annually.

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• Sharps Technology (NASDAQ: STSS) has partnered with Coinbase Global to strengthen its Solana (SOL) accumulation strategy. The company now holds more than 2M SOL tokens, valued at roughly $435M, according to The Block.
• Through the agreement, Sharps will leverage Coinbase Prime for custody, liquidity, and OTC trading.
• Sharps’ holdings place it alongside other Solana-focused treasuries such as Helius, DeFi Development Corp., and Upexi, all with similar token levels.

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• Ripple has announced a strategic partnership with Bahrain Fintech Bay (BFB) yesterday, Oct 9, to accelerate blockchain and digital asset adoption in the Kingdom. The collaboration will focus on proofs-of-concept, pilot projects, educational initiatives, and ecosystem events, showcasing solutions in cross-border payments, stablecoins, tokenization, and digital asset custody.

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This Week’s Calendar:

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Charts of the Day:

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