Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

Trader degentrading commented on PAPER’s new token minting mechanism, pointing out that compared to the previous supply model, new users will receive a relatively higher share while early mining users’ advantages have diminished. The adjustment is unfavorable to early participants but beneficial to the protocol’s long-term development and organic users. This morning, Papertrade officially announced it has no plans to enable PAPER token transferability, and will adjust fees and the token minting mechanism. On token issuance: going forward, for every $1 million in losses, approximately 0.1% of the current PAPER supply will be minted, with the specific ratio dependent on the minting rate during contract upgrades. When the fund pool is near or enters an insolvent state, the protocol will no longer mint 100 PAPER per $1 in losses, instead adopting a time-increasing weighted multiplier mechanism. The team noted that in the long run, the new mechanism will gradually dilute the share of early holders, giving recent users greater advantages.

Four people with knowledge of the matter revealed that the Bank of Japan (BOJ) may raise its inflation outlook for the next fiscal year in its forecast to be released this month, as rising oil prices are exerting more persistent price pressure on the economy than expected. Sources said that given the BOJ just raised interest rates last month, the central bank is expected to keep rates unchanged at its two-day policy meeting ending on October 30, unless the yen depreciates sharply again, which would push up import costs and overall inflation. However, sources also noted that the BOJ may continue to highlight growing inflation risks in its post-meeting quarterly report, leaving room for another rate hike as early as December. One of the sources said, "Consumer price growth may persist longer than expected, although underlying inflation has not changed significantly."

Beating AI Express News: Nous Research co-founder Teknium announced plans to rework Hermes into a DIY game development studio. Developer Luke proposed a multi-sub-Agent collaborative workflow: one Agent handles game logic coding, another creates character and scene assets, a third is responsible for music and sound effects, and a dedicated Agent playtests the game, reports bugs, and even identifies unengaging areas. Teknium then outlined required capabilities to add, including 3D model generation, animation, sound effects, and integration with Unity and Godot game engines. He clarified all features will be implemented via plugins, with no modifications to Hermes’ core. Luke also suggested adding NPC voice acting, 2D pixel assets, and one-click export for web and mobile game versions. Hermes already has built-in programming, image generation, and sub-Agent collaboration capabilities. The team previously launched a Blender plugin and supports Unreal Engine editor control via MCP, with pre-existing options for music and sound effect generation. Similar concepts have emerged before: open-source project Claude Code Game Studios has been leveraging specialized multi-Agent collaboration for game design, development, and testing since February this year, and community developers later adapted it into a Hermes version.

According to TradingBeats monitoring, HYPE is trading at approximately $78.95. Below the $74.165–$77.521 range, six addresses hold 204 regular buy orders totaling around 150,100 HYPE, valued at roughly $11.319 million, or 1.8% to 6.1% lower than the current price. The six addresses include five regular accounts and one strategy treasury, with order distributions as follows: - $74.75–$77.521: ~$3.261 million. The corresponding account already holds a HYPE long position and plans to add to it (0x389b…). - $75.75: ~$3.1 million. The corresponding account currently has no HYPE position and is waiting for a pullback to open a long position (0xbd33…). - $74.22 and $75.26: Total ~$2.813 million. Both accounts currently hold only 0.01 HYPE each, near zero positions; the related buy orders are for re-establishing long positions (0xafe4…, 0x6cb9…). - $76–$77.5: ~$1.026 million. From a strategy treasury that already holds a HYPE long position, it plans to add to its position (0xca23…). - $74.165–$74.959: ~$1.118 million. The corresponding account currently has no HYPE position and is waiting for a pullback to open a long position (0x90db…). Notably, the order timing and amount ratios of 0xafe4 and 0x6cb9 are highly synchronized.

Robinhood CEO Vlad Tenev followed the meme coin account Giga Tenev X, which may have driven its price movement. Per GMGN data, GIGATENEV rallied 17 times in a short period, with its current market cap standing at $5.26 million. It should be noted that the token was not issued via mainstream platforms. Prior analysis pointed out that most of the token was purchased by newly created wallets, and there is a possibility that Tenev’s account follow was a result of a hack. As such, the token poses considerable risks, and users should exercise caution when investing in it.

According to Bitget's market data, the two leading Hong Kong-listed large language model stocks both declined: Zhipu AI fell 6.76%, with its current share price at HK$483.2; MINIMAX-W dropped 6.64%.