PEARL breaks through $2, with a monthly gain of 82.2%.

Bitwise Head of Research Ryan Rasmussen stated that corporate Bitcoin purchases generally slowed in the third quarter. Strategy’s Bitcoin holdings rose by a net 1,666 coins, down from 83,901 in the second quarter; other public companies added a net 5,617 BTC, also lower than the prior quarter’s 45,725. He expects corporate Bitcoin buying could accelerate again as early as this year. Bitfinex Derivatives Head Jag Kooner argued that if Bitcoin’s rally allows treasury-focused companies to regain valuation premiums relative to their Bitcoin holdings, firms can continue purchasing Bitcoin by issuing new shares without diluting existing shareholders’ per-share Bitcoin exposure. However, investors now prioritize financing costs, balance sheet discipline, and Bitcoin per share, so capital may flow to more mature firms with stronger scale, liquidity, and operating track records—last year’s blanket financing environment is unlikely to return. Rasmussen also pointed out that 12 companies that entered the market during the 2025 treasury Bitcoin boom have liquidated their holdings, primarily to repay debt or return cash to shareholders. Still, corporate buying is not the only demand source: spot Bitcoin ETFs saw net inflows of $6.4 billion in the third quarter. Kooner warned that some ETF activity involves basis trades that could be closed out quickly; data shows U.S. spot Bitcoin ETFs posted net outflows of roughly $229 million last week, marking the second straight week of net outflows.

According to CertiK Alert monitoring, the Aztec Rollup attacker deposited 1255.8 ETH into Tornado Cash, valued at approximately $3 million.

According to Lookonchain’s monitoring, trader 0x35b2 has logged a cumulative net profit of $1.04 million on Papertrade. He only traded on the platform’s launch day, generating a $10.1 billion trading volume and incurring a $979,000 loss, while receiving 252 million PAPER tokens. Since then, he has not engaged in further trading, instead earning rewards solely through staking PAPER—this not only recouped his prior $979,000 loss but also netted him an additional $1.04 million in profit.

Smart trader 0x35b2 has now made a total profit of $1.04M on @papertrade_xyz! He traded only on the first day of launch, generating $10.1B in trading volume and losing $979K, but earned 252M $PAPER tokens. Since then, he's done nothing but stake his $PAPER, earning enough

HIP-3 market deployer Paragon announced that PAPER trading has been suspended and fully settled, with all open positions cleared at a settlement price of $0.026296. The suspension occurred at 06:31:15 Beijing Time. Paragon explained that Papertrade’s October 1 launch plan originally included an open transfer phase for PAPER, which led to PAPER launching as a pre-market perpetual contract, with plans to convert to a standard perpetual after the spot market went live. However, Papertrade has now stated it will not proceed with PAPER’s open transfer, leaving the market without a spot price foundation required for price convergence. In response, Paragon immediately halted trading after the announcement, setting a unified settlement cutoff for all open positions. The settlement price uses the time-weighted average of the oracle price from the one-hour period immediately before the suspension, applying the same 1-hour average window used for the delisting of HyperCore perpetual contracts led by Hyperliquid validators. All pending orders have been canceled, remaining margin has been released, and realized profits and losses have been credited to traders’ account balances, requiring no action from users. Paragon added that it will assess resuming PAPER trading if Papertrade revises its transfer plans.

Aster issued an announcement stating that, in light of recent developments related to PAPER, it has immediately adjusted the PAPER pre-market perpetual contract market to reduce-only mode, with delisting scheduled for 9:45 AM Beijing time on October 20. Aster advised users holding open positions to close their trades before delisting, noting that this move is a preventive measure aimed at managing market risks and maintaining orderly trading. Earlier reports noted that Papertrade had stated it currently has no plans to allow external transfers of PAPER tokens, and will adjust short-term trading fees and the token issuance curve. The team believes that PAPER perpetual contracts expose the fund pool’s solvency to short selling, and external short positions may increase the profitability of manipulation attacks, as these markets are not controlled by the protocol.