Friday Forecasts: 17/10/25
October 17, 2025
Your weekly pulse on markets, narratives, protocols, and policy.
Market Pulse
Mt. Gox’s 34,000 Bitcoin Deadline Sparks Market Jitters — Analysts Warn of FUD
The long-running Mt. Gox saga has returned to center stage as blockchain analysts detect new movement in the defunct exchange’s wallets for the first time in seven months. The move comes just weeks before a key repayment deadline, sparking concerns about renewed market FUD (fear, uncertainty, and doubt). Mt. Gox Wallet Moves Ahead of 34,000 BTC Repayment Deadline
BitMine adds $417 million worth of Ethereum to treasury during market dip: onchain data
BitMine Immersion Technologies added 104,336 ETHworth $417 million, to its corporate Ethereum treasury on Wednesday. Lookonchain, using Arkham data, reported that the ETH was received in three new addresses through seven transactions originating from two wallets, one each from Kraken and BitGo. However, BitMine has not officially confirmed the transaction.
BitMine’s official ETH holdings stood at 3.03 million, worth around $12.2 billion, according to its last update on Oct. 13. The treasury firm, led by Fundstrat co-founder Tom Lee, is currently the largest ETH treasury and the second-largest crypto treasury, behind Michael Saylor’s Strategy.
Blackrock Q3 earnings smashes forecasts as revenue surges 25% driven by record iShares ETF demand
Larry Fink’s BlackRock reported third-quarter earnings for the period ending September 30, with a $6.51 billion revenue figure, up 25% year-over-year, driven largely by $205 billion in total net inflows.
The largest asset manager on earth said the growth came from massive inflows into iShares ETFs, driven mostly by crypto’s monster rally, plus steady cash management and private market activity.
Narratives to Watch
Ethereum Adds 16K Developers in 2025, Yet Solana Steals All the Hype
Ethereum added 16,181 new developers from January to September 2025, more than any blockchain, yet Solana captured the narrative as the industry’s hottest ecosystem, according to Electric Capital data.
The Ethereum Foundation confirmed that its network remains the “#1 ecosystem for new developers in 2025” and hosts 31,869 total active developers, nearly double the number of active developers on Solana, which stands at 17,708.
TD Cowen sees onchain capital surpassing $100 trillion in five years amid tokenization push
Onchain capital has swelled to roughly $4.6 trillion since 2020 but could exceed $100 trillion within five years, TD Cowen wrote in a new note, arguing that political and regulatory momentum has outpaced expectations and that major financial institutions are converging on common protocols for moving assets on blockchain.
The bank’s analysts, fresh from Blockworks’ Digital Asset Summit in London, said tokenization’s appeal lies in its practical benefits: lower costs and faster settlement for cross-border transfers, alongside programmable finance that directly integrates with capital markets plumbing.
Protocol Watch
CME Group Launches Options on Solana and XRP Futures
CME Group, the world’s leading derivatives exchange, has officially launched options trading on Solana (SOL) and XRP futures, expanding its lineup of regulated cryptocurrency derivatives beyond Bitcoin and Ethereum. The new offerings, which went live on October 13, 2025, are designed to give institutional investors a secure and compliant way to gain exposure to two of the most actively traded altcoins in the market.
Solana to Develop Korean Won-Pegged Stablecoins Via Partnership
Solana Foundation has partnered with Korean blockchain infrastructure company Wavebridge to build a “compliance-ready” KRW-pegged stablecoin.
The partners signed an MoU on Tuesday, to create institutional-grade tokenization products. Besides, the aim is to make stablecoins adopted within regulated financial markets.
Regulatory Radar
XRP ETF Filing by CoinShares Marks Key Step for U.S. Market Entry
CoinShares has submitted a proposal to list the CoinShares XRP ETF (ticker: XRPL) on Nasdaq. This filing comes after years of regulatory uncertainty, marking a breakthrough for U.S. institutional access to XRP. The move could significantly expand XRP adoption if the SEC grants approval in the coming days.
The IMF Urged Countries to Recognize Digital Currencies as Part of the New Financial Reality
IMF Urges Nations to Embrace Digital Currency Transition. In a compelling address at the IMF-World Bank Annual Meetings, Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), emphasized the urgent need for countries to adapt to the digital transformation of fiat currencies. She stated, “I’m telling countries, ‘Accept reality, fiat money is moving digital,’” underscoring the inevitability of this shift. The Rise of Central Bank Digital Currencies (CBDCs) Georgieva highlighted that the digitalization of national currencies is a ”very positive and powerful” trend.
Moonrig Perspective
Markets are maturing — and so are narratives.
Real opportunity now lies in utility-backed protocols, tokenomics with intent, and cross-chain infrastructure.
This is where Moonrig gives you the edge:
Smarter research via Moonbase
Strategic portfolio design via BUIDL
360-degrees view of your Crypto holdings via HODL
Turn intelligence into strategy. Stay ahead with Moonrig.
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