Perspective: 'Junk L2s' Are Being Phased Out, Ethereum’s Value Capture Logic Poised to Return

Multichain decentralized exchange (DEX) Jumper has unveiled the JUMP token sale allocation plan. The sale received subscription commitments totaling approximately $48.614 million from 9,690 participants—24 times the initial $2 million target—with the final accepted amount set at $3 million. The subscription commitments hit the $3 million hard cap just 18 minutes after the sale launched. Of the final allocation, $1.64 million (around 55% of total sales) is allocated to the community wallet, with weights primarily based on Jumper Loyalty Pass (JLP) tier and ranking, giving higher priority to long-term, deeply engaged users. The second-largest allocation category goes to strategic contributors, including angel investors, developers, traders, and content creators; an additional 5% of the allocation is reserved for Republic participants. The waitlist category covers the top 500 ranked participants, with rankings determined by a combination of Legion Score and referrals, with greater weight placed on the Legion Score. Existing Jumper users can boost their priority via waitlist ranking, but different weights are not additive—only the highest eligible tier applies. Jumper noted that it has combined long-term loyalty data and wallet linkage signals from Legion to filter out suspected Sybil participants.

Solana Accelerate China, a high-profile tech innovation exchange gathering, will kick off in four Chinese cities starting October 16: Shanghai, Hangzhou, Shenzhen, and Beijing. The event centers on cutting-edge technology infrastructure, AI and digital applications, and global product expertise, aiming to connect talent, technology, and capital between East and West, while driving the implementation and development of next-generation innovative applications. It will bring together outstanding developers and innovative teams from home and abroad, fostering deep integration between local innovation strengths and the international frontier ecosystem through cutting-edge sharing sessions and technical demos. Event website and registration link: https://solana.com/nl/accelerate/china

On Wednesday, the U.S. dollar and U.S. Treasury yields rose again, putting pressure on gold prices. The U.S. Dollar Index is currently trading around 102.30, hovering near its highest level since April 2025. Meanwhile, the yield on the 10-year U.S. Treasury note climbed to around 5.324%, near the 5.349% high it hit on Monday, marking its highest level since 2002. The Middle East conflict has pushed up oil prices and heightened inflation risks, coupled with rising government debt and fiscal deficits, and the resilience of the U.S. economy, all of which have driven higher financing costs. Traders will closely monitor the minutes of the Federal Open Market Committee (FOMC) meeting for fresh clues on whether the Federal Reserve may further tighten its policy. Since the outbreak of the Middle East conflict at the end of February, market expectations of the Fed’s hawkish policy outlook have continued to weigh on gold prices, which are now more than 25% lower than their near-$5,600 all-time high in January. However, long-term demand still provides fundamental support for gold. (Jin10)

Gate Founder and CEO Dr. Han attended Singapore’s TOKEN2049 conference and delivered a keynote speech on the main stage. During the speech, Dr. Han formally announced the launch of Gate Money, stating: “Accounts should not be boundaries for funds. Gate Money supports one-click opening of global bank accounts under the same name, breaking down barriers between assets, funds and payments to enable free capital flow.” Dr. Han noted that the development of stablecoins, real-world assets (RWA) and blockchain payment infrastructure has empowered more assets with digital liquidity and instant settlement capabilities, making asset holding, transfer and use increasingly integrated. Based on this shift, Gate Money connects bank accounts with digital assets, fiat currencies, stocks, ETFs, gold and payment services. Eligible users can open their own global bank e-accounts with one click, supporting receipt of over 60 local currencies. They can complete fund transfers, asset conversion and management within the Gate App, and use the Gate Card for online and offline payments with fiat or digital assets. The launch of Gate Money marks Gate’s financial services expanding beyond trading and asset management to cover capital flow and daily consumption, unifying different assets, funds and payment scenarios into a single ecosystem. Users can now activate Gate Money with one click by updating the Gate App to version 8.39.0. Going forward, Gate will further expand asset categories, payment methods and financial service capabilities, and continue building a comprehensive financial service system connecting assets to real-world consumption.

According to Iranian media outlet Fars News, Iran has reaffirmed that the Strait of Hormuz will remain closed until its relevant demands are fulfilled. Additionally, an advisor to Iran’s Revolutionary Guards stated that Iran will soon block "illegal" shipping lanes in the Strait of Hormuz.

According to Bloomberg, Intel CEO Pat Gelsinger stated in an October 7 interview in Tokyo that Intel will continue to participate in Elon Musk’s Terafab project. Intel signed a deal in April this year to become a development partner for the project, and this confirmation means the company has not withdrawn from it. Earlier, Musk revealed he was in talks with TSMC over potential collaboration on Terafab, sparking market concerns that Intel’s role in the project could be impacted by TSMC’s involvement, which pushed Intel’s stock price down 3.9% at one point. Terafab is a key initiative for Musk to enter the advanced chip manufacturing space. As AI infrastructure continues to expand, global demand for chips and related equipment is growing, leaving multiple segments of the supply chain facing capacity pressure. Bloomberg previously reported that Musk has asked suppliers to accelerate progress on Terafab, with various suppliers including those of ball bearings, chip manufacturing equipment, industrial chemicals and rails currently operating at full capacity.