Friday Forecasts: 13/10/25

Your weekly pulse on markets, narratives, protocols, and policy.

Market Pulse

Metaplanet becomes 4th-largest corporate Bitcoin holder after $600M buy

Japanese investment company Metaplanet has acquired an additional 5,268 Bitcoin, worth roughly $600 million at current market prices.

Metaplanet announced on Wednesday that its latest purchase has brought its total Bitcoin, holdings to 30,823 BTC. The move catapulted the Tokyo-listed company to the fourth spot among corporate Bitcoin holders, overtaking the Bitcoin Standard Treasury Company, according to BitcoinTreasuries.NET data.

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Bitcoin gears up for ‘Uptober’ after $114K rally revives bulls

BTC $120,002 price rallied 4.5% in less than 48 hours, retesting $114,000 on Monday. The recovery followed last week’s sharp correction between Monday and Saturday, where data indicated the pullback was less about aggressive shorting and more about longs de-leveraging to set up a cleaner base for future upside.

Between Sept. 21 and Saturday, Bitcoin slipped to $109,500 from $115,600, a 5.3% decline alongside a 6.2% drop in futures open interest (OI) to $39.9 billion from $42.6 billion. The 30-day correlation between price and OI tightened to +0.46, signaling longs were trimming exposure rather than shorts forcing the move.

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Narratives to Watch

Solana ETF approval now ‘100% certain,’ says analyst

Solana could get its first spot exchange-traded fund any day now.

That’s according to Bloomberg Intelligence analyst Eric Balchunas who said that a slew of regulatory changes at the Securities and Exchange Commission means “the odds are really 100%” that a spot Solana ETF will become a reality.

“The baby could come any day,” Balchunas said on X.

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Republic Steps Up Tokenization Efforts with Animoca Brands on Solana

Global investment platform Republic has hinted at plans to tokenize Animoca Brands’ equity. This is an avenue through which investors all over the world can gain exposure to the leading Web3 firm. Moreover, this access will be granted within a compliant regulatory environment.

Animoca Brands to Utilize Republic’s Infrastructure

On Sept. 30, Republic announced that it is planning the tokenization of the equity of Animoca Brands, providing global investors with access to a compliant framework. Currently, Animoca Brands prides itself on owning a vast portfolio of more than 600 leading Web3 investments. It is known to leverage tokenization and blockchain to deliver digital property rights to investors.

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Aster Shocks Crypto World by Overtaking Tether in Daily Revenue

In just a matter of days, Aster has gone from an ambitious new entrant to one of the most profitable names in crypto.

The decentralized exchange, which has support from Binance founder Changpeng Zhao, recorded higher daily revenue than Tether – a feat that signals how fast trading activity is shifting.

Numbers from DeFiLlama show the platform brought in nearly $94 million in fees over the past week, eclipsing Hyperliquid’s $26 million and trailing only Tether’s $154 million. On a single-day basis, Aster surged to the top spot, pulling ahead of both Tether and Circle.

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Protocol Watch

Stripe Unveils Its Stablecoin Launchpad Open Issuance with AI Commerce Tools

Stripe has launched a stablecoin issuance platform powered by its $1.1 billion stablecoin startup Bridge, acquired in October 2024. Open Issuance also features AI commerce tools for online transactions.

According to the announcement, the new platform launches with crypto wallet provider Phantom’s CASH token, the first to be issued, and with plans to add Hyperliquid’s USDH and MetaMask’s mUSD.

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Chainlink integrates Swift messaging to streamline tokenized fund workflows with UBS

Chainlink and Swift have expanded their collaboration with a new system allowing financial institutions to manage tokenized fund processes directly through their existing systems using Swift messaging and the Chainlink Runtime Environment.

“This shows how institutions can access blockchains without needing to upgrade to new infrastructure, replace their existing processes, or integrate new identity and key management solutions,” Chainlink said in a statement.

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Regulatory Radar

US Senator Ted Cruz pushes back on bill aimed to stop American doxing

US Senator Ted Cruz of Texas has blocked a privacy bill that seeks to protect all Americans from having their personal information exposed by data brokers — arguing that law enforcement needs access to some data and that the bill requires refinement.

The Bitcoiner was the only US senator to object to Democrat Senator Ron Wyden’s bill — Senate Bill 2850 — on Wednesday, arguing a lack of data could disrupt efforts to ensure that convicted sex offenders are kept away from children.

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Sweden eyes entering the Bitcoin ‘digital arms race’

Two members of Sweden’s parliament, the Riksdag, have proposed that the country investigate establishing a strategic Bitcoin reserve to tackle inflation and diversify its holdings.

They also want the government to promise it won’t change the legislation governing the monetary policy of Sweden’s central bank, to show it doesn’t intend to introduce a digital central bank currency.

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Moonrig Perspective

Markets are maturing — and so are narratives.
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