defi

Bitcoin Treasuries posted on platform X that DeFi Development Corp increased its holdings by 5,336 Solana, currently holding a total of 2.6 million SOL.CEO Joseph Onorati stated that tokenization will become an important driving force for the long-term development of SOL, and the company is continuously increasing its holdings based on this.

According to the compilation of the "2026 Crypto Dead Projects List", the number of dead projects this year has reached 368, an increase of 244 from the number disclosed on August 14. Among them, 85 projects actively announced their cessation of operations, accounting for 23.1%; the remaining 283 were identified by RootData based on operational status monitoring and review, accounting for 76.9%.The list includes on-chain projects such as Blast, Abstract, Balancer, Goldfinch, Zapper, Proof of Play, Linera, as well as trading platforms like CoinEx and BitMEX. Among these, 37 projects raised over $10 million, and 94 projects raised over $1 million. In terms of sector labels, DeFi projects are the most numerous, with a total of 110, accounting for 29.9%; infrastructure projects number 64, accounting for 17.4%, with 13 projects each in Layer1 and Layer2. The AI label involves 27 projects. The list covers multiple fields including trading and lending, underlying networks, gaming, and AI.It is reported that RootData regularly monitors the operational status of over 21,000 projects in its database. In addition to determining based on announcements and news, they also conduct further manual reviews of projects that have not updated their official websites and social media for over six months. For more details, see the article "Statistical Logic and Thoughts on RootData's Dead Projects List".

The Sun Wukong ecosystem will hold a deep roundtable discussion themed "As Web3 Enters the Revenue-Driven Era: Is the Value Logic of DeFi Changing from the JST Buyback Mechanism Upgrade to Continuous SUN Destruction?" on November 3rd at 8 PM at X Space.This event will focus on recent key developments such as the JUST upgrade of the JST buyback and destruction mechanism and the latest centralized destruction of SUN, exploring how the market's attention to token value is shifting from supply and demand relationships to the connections between real business performance, revenue sources, and token economic mechanisms. Invited industry KOLs will jointly analyze the insights these developments provide for establishing a sustainable token economic model, exploring the value logic of DeFi under a revenue-driven model, and how real business and token economics jointly influence the long-term development of the ecosystem.

According to RootData statistics, there were a total of 54 financing events disclosed in the crypto primary market in October, with a total disclosed financing amount of approximately 1.954 billion USD, an increase of 83.5% compared to 1.065 billion USD in September, and a decrease of 45.3% compared to 3.573 billion USD in October last year; the number of financing events increased by 12.8% compared to 47 in September, and decreased by 32.1% compared to 78 in the same period last year.From the perspective of sector distribution, both DeFi and infrastructure completed 17 financing events, with disclosed amounts of approximately 1.157 billion USD and 348 million USD, respectively; CeFi completed 9 financing events with a disclosed amount of approximately 343 million USD. Prediction markets, AI infrastructure, payment, and institutional financial services were the main directions for large financing this month.The top three projects by financing amount were Kalshi (1 billion USD), Whop (200 million USD), and Pearl (130 million USD), while Nous Research and Spiko disclosed financing of 90 million USD each. The top five projects accounted for approximately 1.510 billion USD, which is 77.3% of the total disclosed financing amount this month, with Kalshi alone accounting for about 51.2%.In terms of RWA, according to project tags, there were 6 RWA-related projects that disclosed financing this month, totaling approximately 12.2 million USD, accounting for 11.3% of the monthly financing events and 6.3% of the disclosed amount. Among them, Spiko completed a 90 million USD Series B financing, while Fission and Multiliquid disclosed financing of 10 million USD and 8 million USD, respectively.In terms of mergers and acquisitions, there were 11 recorded M&A events this month, the same as in September, with transaction amounts undisclosed, including projects like BTCBOX, Zodia Custody, Zeal, and Z.com EX.Regarding investment institutions, Tether participated in 4 financing events, Sequoia Capital, Pantera Capital, and North Island Ventures each participated in 3, while Blockchain Capital, Coinbase Ventures, and others also made multiple investments.

According to The Defiant, the decentralized protocol Origin Protocol has restored the liquidity of its OGN token after withdrawing funds during the Binance-related incident. Origin stated that the attacker sold OGN at an average discount of about 79%.Records on the Ethereum chain show that after withdrawing 46.74 million OGN from the Curve pool, liquidity is now flowing back into that Curve pool.

Blockchain data analysis company Chainalysis stated on October 31 that addresses related to stolen funds from Binance are attempting to transfer assets before the stablecoins are frozen. One method they are tracking involves depositing stablecoins into DeFi protocols and then retrieving them with new addresses.Chainalysis indicated that this method appeared early on the Tron blockchain following the approximately $6.4 billion attack. The related operations first convert TRX into stablecoins, and then into tokenized deposit receipts. These receipt tokens themselves cannot be frozen, but holders can exchange them back for the stablecoins they represent. The company noted that North Korean threat actors have used similar methods in other cases, citing the example of the TraderTraitor organization transferring $500,000.According to Chainalysis, the related funds were deposited into DeFi lending protocols and received non-frozen deposit tokens, which were then transferred to a new wallet that was not associated and exchanged back for stablecoins, before being converted to ETH on Ethereum through a cross-chain bridge. The company also stated that Circle and Tether have participated in freezing approximately $2.8 billion to date. Chainalysis mentioned that converting stablecoins to ETH does not exempt attackers from being tracked, and its investigators are monitoring the related on-chain patterns in real-time.

The CEO of the Argentine cryptocurrency platform Ripio publicly admitted to errors regarding the exchange of wARS tokens on the platform. Previously, users complained that the in-app exchange rate was approximately 0.95 Argentine pesos per token, below the 1:1 parity level.Subsequently, some users indicated that the exchange ratio had returned to parity. wARS is a wrapped token pegged to the Argentine peso, and this controversy focused on the pricing deviation during the exchange process on the platform.

The DeFi lending platform Tydro has lifted the previous preventive freeze, and the related markets have resumed operation, but the new borrowing function remains suspended.According to The Defiant, during the freeze, repayment, withdrawal, and liquidation operations remained available. Tydro's dashboard shows that the current outstanding loan amount on the platform is 62.36 million dollars.

According to The Defiant, Uniswap, venture capital firm a16z, and the DeFi Education Fund (DEF) are appealing to the cryptocurrency tax regulations in Illinois, USA, seeking exemptions for decentralized finance activities.The aforementioned organizations argue that wallet withdrawals and cross-chain bridging should not be included in the tax assessment based on asset value, while also requesting the elimination of the requirement to maintain records of private keys.

The fee revenue of the decentralized perpetual contract trading platform Hyperliquid has risen to a 30-day high, with the trading volume of perpetual contracts doubling during the same period.On October 29, the platform's perpetual contract transaction volume reached 17.44 billion USD, with a liquidation amount of approximately 252 million USD, while open positions saw a decline.

The trading volume on the Curve platform rose to 847 million dollars. Among them, the trading volume of the DAI/USDC/USDT 3pool reached 343 million dollars, which is the main source of trading.During the same period, the asset structure of this pool changed, with the USDT balance increasing, while the holdings of DAI and USDC decreased, further leaning the 3pool towards USDT.

Bitwise DeFi Strategy Director Jonathan Man stated that the treasury managed by Bitwise has no exposure to Binance and has confirmed that the collateral assets used in its management strategy have not been affected.Jonathan Man also mentioned that DeFi seems relatively unscathed, but currently, funds are flowing into safe assets, and liquidity is tight in many major lending markets. Bitwise will continue to monitor the situation. On the same day, Binance's hot wallet was hacked.

The decentralized lending protocol Aave stated in a social media post that it is aware of reports regarding Binance-associated wallets potentially being affected by the incident. Aave's contracts remain unaffected, and positions are still over-collateralized.As a precaution, all markets operated by the DAO in V3 and V4 have been frozen. This freeze suspends new deposits and loans, but users can still withdraw and repay their existing positions. Aave stated that it will continue to monitor the progress of the incident and restore normal operations as soon as possible.

The DeFi protocol Fluid has launched the DEX v2 beta version, which supports customizable collateral and debt ranges. Governance has set a borrowing limit of $50,000 for each asset for the new contracts deployed on Ethereum, while the creation of liquidity pools remains restricted.

According to The Defiant, the USDT market of the MakerDAO ecosystem lending protocol SparkLend currently has a borrowable liquidity of 11.95 million dollars, with a utilization rate maintained at around 96%. Earlier this week, the liquidity in this market tightened.In terms of interest rates, the current annualized yield for USDT depositors is approximately 6.9%, while borrowers are subject to an annualized borrowing rate of about 7.7%.

According to Pendle monitoring, the scale of STRCx on Pendle has surpassed 50 million dollars and set a historical record.Pendle currently holds about 30% of the total supply of STRCx, which is the largest tokenized equity asset in DeFi.

According to a report by Decrypt, a national survey commissioned by the cryptocurrency policy advocacy organization DeFi Education Fund and conducted by Ipsos shows that 22% of American adults have held or used cryptocurrency, up from 18% in 2025, but the usage rate over the past 12 months remains flat at 13%. The survey, conducted from September 8 to 16, interviewed 1,545 adults, with a margin of error of ±2.8 percentage points. The growth almost entirely comes from users who have dropped out: among those who have not used cryptocurrency in the past year, the proportion who had held or used it rose from 5% to 11%; the willingness to purchase in the future also remains flat, with 17% indicating they might hold or use it in the future, compared to 16% last year.In terms of user demographics, the usage rate for men in the past year was 18%, while for women it was 8%, with the former being more than double the latter. Adults under 60 showed a significantly higher usage rate than older individuals. The primary reason for trying cryptocurrency is curiosity (34%), followed by long-term investment (25%). Respondents expressed significant unease about the traditional financial system: only 19% believe it is safe, and 63% think it needs to be upgraded to address cybercrime and AI threats; 60% are concerned about data breaches at large financial institutions, and 54% doubt their ability to withstand AI-driven threats, while 74% indicate that financial privacy is important.This skepticism has not translated into trust in cryptocurrency. Only 4% have high trust in cryptocurrency exchanges, and 5% have high trust in decentralized platforms, while large national banks and credit unions have trust levels of 42% and 48%, respectively. The knowledge gap is also significant: only 2% of Americans are very familiar with DeFi, 6% can identify all four characteristics of cryptocurrency listed in the survey, and 35% are completely uncertain about how to describe cryptocurrency. However, 40% indicate that if DeFi were available, there is at least some possibility they would try it, with over 80% stating they would use it to save money, earn interest, or send money to friends and family; the desire to understand stablecoins and DeFi decreased from 11% to 7% and 8%, respectively.

The DeFi lending protocol Kamino announced the launch of a USDC loan service using Backpack tokenized stocks as collateral. Borrowers can receive up to 40% of the collateral's value.The market will maintain its last stock price outside of U.S. trading hours, which means that during U.S. stock market closures, the collateral valuation of the tokenized stocks will be based on their last transaction price, allowing borrowers to continue lending operations during non-trading hours.