Morning News | Tom Lee: Ethereum is still in a supercycle phase. This week, tokens such as SUI, GRAS

The US side no longer considers imposing an additional 100% tariff on China.

Market trends and developments.

Market conditions yesterday.

● The Indian exchange WazirX will resume operations on October 24th, with a transaction fee of 0%.

This Indian cryptocurrency trading platform announced that, after undergoing a new round of restructuring and obtaining approval from the Singapore High Court, it will resume operations on October 24th, 2025. To attract users back, WazirX has introduced a “recovery bonus” offer, where all transaction fees are waived for all trade pairs.

● Tom Lee: Ethereum is still in a supercycle phase.

According to BlockBeats, on October 26th, Tom Lee, chairman of BitMine, the largest holder of Ethereum, stated that Ethereum is still in a supercycle phase. Prices usually precede fundamentals, but sometimes fundamentals can precede prices.

The demand for stablecoins is increasing rapidly, and Ethereum’s trading volume has reached record highs. In an interview with CNBC, Tom Lee noted that both the Layer 1 and Layer 2 networks of Ethereum have seen significant growth, but the price of Ethereum has not yet fully reflected this improvement. Increased activity on the blockchain provides insight into market movements before the end of the year.

● Ferrari plans to launch a digital token called “Token Ferrari 499P”.

According to Reuters, Ferrari recently announced that it will introduce a digital token called “Token Ferrari 499P”. This token will be used to auction a Ferrari 499P racing car, which has won the Le Mans 24-hour race three times consecutively.

This initiative is partnered with the Italian fintech company Conio. It is primarily targeted at Conio’s “Hyperclub” members, a group of top-tier customers who are passionate about endurance racing. These members can trade and bid for racing models with each other.

Tokens of this project are expected to be launched during the 2027 World Endurance Championship season. Conio is currently applying for licenses under the new EU crypto regulations.

● Trump has appointed Michael Selle as the chairman of the CFTC

According to ChainCatcher, Trump has chosen Michael Selle to serve as the chairman of the Commodity Futures Trading Commission (CFTC). Selle currently serves as the chief legal advisor to the SEC’s cryptocurrency task force and was once an assistant to the SEC chairman. This is Trump’s second attempt to fill the position of CFTC chairman. It is expected that this position will gain more influence during the legislative proceedings related to cryptocurrency market regulation.

● Capital flow in the cryptocurrency market and sector dynamics: Privacy coins lead the gains, while overall market value remains stable at around $3.84 trillion

Latest market data shows that the total value of global cryptocurrency assets is approximately $3.84 trillion. On-chain data indicates that daily trading volume is around $99 billion. Privacy coins such as Zcash and DASH have performed strongly, with increases of approximately 23.9% and 16.2%, respectively. Analysts believe that the market is currently in a phase of sector rotation, with risk appetite gradually increasing.

● Institutional movements: Ethereum “ whales” have increased their holdings again, indicating long-term investment intentions

链上数据显示，以太坊大户(“鲸鱼”)近期悄然增加持仓，这与此前牛市形态中的布局行为相似。分析师认为，这可能预示机构对以太坊中长期前景的信心正在积累。

● 特朗普政府遴选美联储主席，沃勒与哈塞特成核心竞争者

据金十数据报道，中信证券研报指出，特朗普政府正在遴选下任美联储主席，沃勒和哈塞特成为核心竞争者。市场数据显示哈塞特暂时领先，但特朗普对贝森特的信任可能影响最终结果。

中信证券认为，若沃勒当选，可能引发“美联储失去独立性”的反转交易，利多美元资产，利空黄金，市场或削减对明年降息的预期。若哈塞特胜出，市场可能上调对明年降息的预期，利空美元资产，利多黄金。

● CZ：吉尔吉斯斯坦国家稳定币将在BNB Chain上推出

CZ在X平台发文披露造访吉尔吉斯斯坦的部分事项，包括：

1、吉尔吉斯斯坦的国家稳定币将在BNB Chain上推出;

2、吉尔吉斯斯坦央行数字货币(CBDC)已准备好推出，用于政府相关支付等;

3、吉尔吉斯斯坦国家加密货币储备已建立，包含BNB;

4、币安学院与10所顶尖大学合作;

5、币安App全面实现吉尔吉斯语本地化。

● The United States has announced that it will no longer consider imposing an additional 100% tariff on China. This development has led to increases in the prices of BTC and ETH.

According to PANews, chain-based analyst ai_9684xtpa observed that as a result of the US decision not to impose additional tariffs on China, the price of BTC rose to $114,936, while the price of ETH increased to $4,166.

The “100% winning rate” trader has accumulated a profit of up to $15.98 million. Additionally, he placed a bid for 7,450.69 ETH at the price range of $4,100 to $4,129.5. If ETH prices decline, he plans to continue buying more ETH, valued at $30.65 million.

● Western Union is testing a stablecoin settlement system to reduce its reliance on traditional banks.

According to DeepTide TechFlow, Western Union will pilot a stablecoin-based settlement system to provide modern payment services for its 150 million customers.

CEO Devin McGranahan said that this project uses blockchain-based settlement methods to reduce dependence on traditional banking systems, shorten settlement times, and improve capital efficiency. He noted that this provides opportunities for faster, more transparent, and cost-effective money transfers, while maintaining compliance and customer trust. Western Union processes approximately 70 million transactions per quarter. Stablecoin services will offer customers more options, especially those in countries with high inflation rates.

● Danisco Bank predicts that the risk of inflation in the US is likely to increase.

According to ChainCatcher, Danisco Bank is looking ahead to inflation trends in the US and believes that the risk of inflation is increasing. However, the Federal Reserve skipped the usual interest rate cut schedule in October.

● The Solana ecosystem plans to lower the threshold for becoming a validator after the Alpenglow upgrade

. According to ChainCatcher, Michael Repetny, CEO of Marinade Labs, stated that the Solana ecosystem is preparing for an upgrade by the end of this year or early 2026. After the Alpenglow upgrade, it is planned to reduce the requirements for becoming a validator, while also increasing bandwidth and reducing latency.

This week, tokens such as SUI, GRASS, and EIGEN will experience significant unlocking events, with a total value exceeding $300 million

. According to Token Unlocks data, several tokens will experience significant unlocking events this week. Among them:

• SUI will unlock 43.96 million tokens on November 1st, worth approximately $117 million, accounting for 1.21% of the total supply;

• GRASS will unlock 181 million tokens on October 28th, worth approximately $80.27 million, accounting for 72.40% of the total supply;

• EIGEN will unlock 36.82 million tokens on November 1st, worth approximately $44.55 million, accounting for 12.10% of the total supply;

• OMNI will unlock 7.99 million tokens on November 2nd, worth approximately $23.97 million, accounting for 30.30% of the total supply;

• JUP will unlock 53.47 million tokens on October 28th, worth approximately $23.29 million, accounting for 1.72% of the total supply;

• ENA will unlock 40.63 million tokens on November 2nd, worth approximately $20.73 million, accounting for 0.60% of the total supply;

• ZORA will unlock 167 million tokens on October 30th, worth approximately $15.51 million, accounting for 4.55% of the total supply;

• KMNO will unlock 229 million tokens on October 30th, worth approximately $14.86 million, accounting for 5.99% of the total supply;

• OP will release 31.34 million tokens on October 31, valued at approximately $14.59 million, representing 1.71% of the total supply.

• IMX will release 24.52 million tokens on October 31, valued at approximately $13.77 million, representing 1.24% of the total supply.

• SIGN will release 290 million tokens on October 28, valued at approximately $12.07 million, representing 21.48% of the total supply.

• ZETA will release 44.26 million tokens on November 1, valued at approximately $5.56 million, representing 4.13% of the total supply.

• REZ will release 424 million tokens on October 30, valued at approximately $4.62 million, representing 8.79% of the total supply.

• W will release 50.41 million tokens on October 31, valued at approximately $3.83 million, representing 1.04% of the total supply.

• TREE will release 11.25 million tokens on October 29, valued at approximately $2.17 million, representing 6.12% of the total supply.

• IOTA will release 12.37 million tokens on October 29, valued at approximately $1.87 million, representing 0.33% of the total supply.

• GUN will release 87.58 million tokens on October 30, valued at approximately $1.74 million, representing 7.25% of the total supply.

• YGG will release 10.68 million tokens on October 27, valued at approximately $1.52 million, representing 1.25% of the total supply.

• AI will release 18.21 million tokens on November 1, valued at approximately $1.5 million, representing 4.14% of the total supply.

• DYDX will release 4.17 million tokens on November 1, valued at approximately $1.48 million, representing 0.58% of the total supply.