Friday Forecasts: 24/10/25
October 24, 2025
Your weekly pulse on markets, narratives, protocols, and policy.
Market Pulse
Why Some Bitcoin Whales Are Converting Their BTC Into Spot ETF Shares: Bloomberg
Some large bitcoin holders are moving coins into spot exchange-traded funds through in-kind creations, converting off-platform BTC into brokerage-account assets they can borrow against or include in estate plans, Bloomberg reported Tuesday.
On July 29, 2025, the U.S. Securities and Exchange Commission (SEC) announced the decision to approve orders allowing in-kind creations and redemptions for crypto-asset exchange-traded product (ETP) shares, a policy which covers spot bitcoin exchange traded funds (ETFs).
Altcoin Market Flashing 2020-Style Bull Signal, Says Crypto Expert
Crypto analyst Michaël van de Poppe believes the altcoin market is on the verge of entering a new bull phase after enduring its longest downturn in history.
Van de Poppe highlighted what he calls “the best chart in the markets right now” – the ratio between the total altcoin market capitalization and Bitcoin. The chart, which includes the Moving Average Convergence Divergence (MACD) indicator, shows a pattern almost identical to the pre-bull setup of the previous cycle.
Narratives to Watch
Ripple’s $1 Billion XRP Treasury Plan Sets XRP On Cusp Of Massive Boom
Ripple Labs plans to purchase a huge amount of XRP for its reserve through a new digital asset treasury company. The company, already a significant holder of XRP, will increase its stash as several corporations’ strategy aligns with the market. This move is bullish for the altcoin, facing prolonged sideways trading despite positive projections.
SBI Holdings Supercharges XRP — Building One of the World’s Largest Public Treasuries
Tokyo-based SBI Holdings has announced a strategic $200 million investment in U.S.-based Evernorth Holdings through a PIPE (Private Investment in Public Equity) financing round, joining forces with Ripple Labs and other key investors.
This move underscores SBI’s deepening commitment to advancing institutional adoption of the XRP digital asset on a global scale.
Evernorth Holdings, founded to drive institutional adoption of XRP, is emerging as a key force in digital asset infrastructure.
The XRP Shockwave Will Hit When No One’s Watching—Analyst
XRP flirted with stronger levels this week but slipped back as traders reassessed positions. According to a tweet by community figure Zach Rector, the next rally could arrive without much warning and push the token to a fresh all-time high.
Price was at $2.40 on Wednesday, down from $2.43, marking a 1.14% fall over 24 hours. Daily trading volume rose to $4.9 billion, up 6.39%.
Protocol Watch
‘We Scaled Ethereum, Got Zero Help’ – Polygon and Sonic Labs Slam Ethereum Foundation
Polygon co-founder Sandeep Nailwal publicly questioned his loyalty to Ethereum after years of contributing to the ecosystem without receiving support from the Ethereum Foundation or community.
His criticism came alongside revelations that former Geth lead developer Péter Szilágyi earned just $625,000 over six years working on Ethereum’s $480 billion network.
Ethereum Preaches Decentralization, But Core Dev Says 10 People Run Everything
Former Geth lead developer Péter Szilágyi published a scathing May 2024 letter to Ethereum Foundation leadership, revealing that a small circle of five to ten people effectively controls the entire ecosystem despite public claims of decentralization.
The letter exposes how project success depends on securing backing from the same individuals around co-founder Vitalik Buterin, who maintains “complete indirect control” over Ethereum’s direction through his attention, donations, investments, and researcher brain-power allocation.
Regulatory Radar
Senate Republicans to meet crypto CEOs as bipartisan talks advance
Senate Republicans are scheduled to meet with top crypto executives next week. This follows a similar meeting between industry leaders and Senate Democrats, signaling a renewed push toward bipartisan consensus on a comprehensive crypto market structure bill.
The meeting aims to keep progress on the crypto bill that would set clear rules for the U.S. market.
Grayscale seeks SEC approval to launch spot Chainlink ETF in the US
Grayscale has filed an S-1 registration statement with the Securities and Exchange Commission in a bid to manage what could be one of the first spot Chainlink exchange-traded funds in the United States—including a potential staking component.
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:
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