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More →NEAR enters crypto’s top 20 after 140% surge in 30 days
NEAR climbed into the top 20 cryptocurrencies by market capitalization, as NEAR Intents surpassed $31 billion in cumulative transaction volume. NEAR Protocol’s native token entered the top 20 cryptocurrencies by market capitalization on Thursday after rising $138% in the last 30 days, according to <a href="https://x.com/coingecko/status/2108022680628682828" rel="nofollow noopener" target="_blank">>CoinGecko</a>. At the time of writing, NEAR <a href="https://www.coingecko.com/en/coins/near" rel="nofollow noopener" target="_blank">>traded</a> around $5.51, up about 7% over 24 hours, with a market cap of about $7.2 billion and 24-hour trading volume reaching roughly $1.2 billion. NEAR ranks ahead of Stellar (XLM), which has a market cap of nearly $7 billion. NEAR Intents, a cross-chain trading protocol, has <a href="https://explorer.near-intents.org/" rel="nofollow noopener" target="_blank">>handled</a> over $31 billion in cumulative transaction volume, according to the NEAR Intents Explorer. NEAR’s rise in the rankings also <a href="https://cointelegraph.com/news/bitwise-launches-first-us-spot-near-etf-after-tokens-recent-surge" rel="nofollow" target="_blank">follows the Sept. 29 launch</a> of the first US spot exchange-traded product tracking the token. The Bitwise fund trades on NYSE Arca under the ticker NRR, offering investors exposure to NEAR without directly holding the crypto. NEAR Intents <a href="https://cointelegraph.com/news/near-intents-recovers-entire-stolen-38m-after-ultimatum-to-exploiter" rel="nofollow" target="_blank">suffered a $3.8 million exploit</a> involving its deposit and withdrawal infrastructure last week. On Oct. 2, General Manager Alex Shevchenko said that all stolen funds had been returned, a day after the breach was disclosed. <em><strong>Related: </strong></em><a href="https://cointelegraph.com/markets/near-price-surge-intents-zcash-privacy" rel="nofollow" target="_blank"><em><strong>NEAR jumps nearly 80% in a week as Intents volume nears $30B</strong></em></a>
Circle brings USDC, EURC payments to SAP customers through Tereina
The partnership with SAP-backed Tereina will let businesses send and receive Circle’s stablecoins from within the financial software they already use. Circle is bringing its USDC and EURC stablecoins into enterprise payment workflows through a partnership with Tereina, a financial services company backed by German enterprise software giant SAP. The <a href="https://www.circle.com/pressroom/tereina-an-sap-backed-company-and-circle-bring-usdc-and-eurc-into-enterprise-workflows-starting-with-the-sap-ecosystem-behind-84-of-global-commerce" rel="nofollow noopener" target="_blank">>integration</a> will allow businesses using SAP’s financial software to send and receive USDC and EURC within the applications they already use to manage payments. USDC will be the preferred stablecoin for dollar-denominated transactions, while EURC will be available for euro-denominated payments. <em>Source: </em><a href="https://x.com/circle/status/2107803627477709148" rel="nofollow noopener" target="_blank">><em>Circle</em></a> Tereina provides payment infrastructure that companies can embed into business software, allowing them to make payments without switching to a separate financial platform. Tereina and Circle said they plan to test the stablecoin integration with customers over the coming months, including for global payments and treasury operations. SAP’s ecosystem generates 84% of global commerce, according to the announcement, giving the integration a potentially broad enterprise reach. The move comes less than a month after <a href="https://cointelegraph.com/news/circle-arc-mainnet-launch-usdc-native-gas" rel="nofollow" target="_blank">Circle launched the mainnet of Arc</a>, its layer-1 blockchain focused on stablecoin payments and financial markets. Arc uses USDC for transaction fees and supports more than 20 fiat-backed stablecoins, including USDC and EURC. <em><strong>Magazine: </strong></em><a href="https://cointelegraph.com/magazine/too-big-to-pause-the-economic-stakes-of-an-ai-slowdown" rel="nofollow" target="_blank"><em><strong>Too big to pause: Could an AI slowdown crash the economy?</strong></em></a>
CFTC Chair: Failure of Clarity Act Prompts New Crypto Rules
According to Benzinga, CFTC Chairman Selig stated that the failure of the Clarity Act prompted the introduction of new crypto rules, and said this is only the beginning.
Musk and TSMC hold cooperation talks on the Terafab project, potentially posing competitive pressure on Intel.
Benzinga reports that Musk has opened up the possibility of partnering with TSMC ($TSM) on his large Terafab project, which could bring new competitive pressure on Intel ($INTC). Musk said Tesla plans to use Intel's next-generation 14A process to produce chips, but discussions with TSMC are now also underway. He noted: "Just discussions, but it could go somewhere." This means Intel may no longer be the main external foundry partner for Terafab. Adding TSMC as a supplier would give Musk more bargaining leverage on pricing and capacity. For Intel, the 14A process is crucial to building a competitive contract foundry business, and Terafab could provide it with the major external customer needed to prove that 14A can handle high-volume advanced chip production. TSMC is actively expanding in the United States and has extensive experience in advanced chip production.
Tom Lee: Tech stocks and cryptocurrencies have already priced in an improved future financial environment.
According to Benzinga, Fundstrat's Tom Lee said that tech stocks and cryptocurrencies are already pricing in expectations of improved future financial conditions. He expects inflation to cool and the 10-year Treasury yield to fall below 5% within six months.
Warren: Big Tech should not profit from AI risks
Benzinga reports that U.S. Senator Elizabeth Warren criticized Sam Altman's argument that society should accept "some bad things happening" in exchange for the greater benefits of artificial intelligence. Warren said big tech companies should not reap the benefits while the public bears the risks, and called for stronger regulation of artificial intelligence.
BTC liquidation pressure: watch $81,000 to the downside and $87,600 to the upside.
CoinWorld data: BTC is currently priced at around $82,700. If the price falls by about 2% to around $81,000, some high-leverage longs may face concentrated liquidations; if the price rises by about 6% to around $87,600, some high-leverage shorts may face concentrated liquidations. The liquidation zone below is currently closer to the current price, meaning that if the price moves downward, long liquidation pressure may appear earlier. Other areas worth watching: $76,100 and $67,800 below; $88,100 and $93,000 above. The above levels are estimated based on public market prices and changes in open interest, do not mean the price will necessarily reach them, and are not predictions of rises or falls. Compared with the same-caliber snapshot 24 hours ago, it is down 1.22%; compared with the same-caliber snapshot 7 days ago, it is down 2.39%.
US Treasury debt needs both AI and spending cuts to be brought under control.
Benzinga reports that Max Baecker, president of Hartford Gold Group in the United States, said the U.S. may need significant gains in artificial intelligence and robotics productivity, combined with substantial spending cuts, to bring its roughly $40 trillion national debt under control. He noted that the U.S. is expected to run a deficit of about $2 trillion in fiscal year 2026, with annual interest costs climbing to a record $1.1 trillion. Baecker mentioned that Tesla CEO Elon Musk has said the rapid growth of AI and robotics technology could expand economic output and help stabilize the debt burden, but that such growth would need to be accompanied by spending cuts. He also mentioned that Kalshi traders see a 61% probability that U.S. debt will reach $47.5 trillion during President Trump's term. Baecker believes the long-term risk lies in the gradual depreciation of the dollar rather than the loss of its global role, which also explains his bullish view on gold, as investors increasingly seek SPDR Gold Shares ($GLD) as protection.
Peter Schiff: MicroStrategy's Bitcoin financing mechanism is collapsing.
Benzinga reports that Peter Schiff said MicroStrategy's Bitcoin financing "machine" is collapsing, as its preferred stock financing is becoming increasingly difficult to use. Nevertheless, MicroStrategy still purchased 334 Bitcoins last week, but spent $176.3 million on repurchasing STRC, while spending only $28.7 million on Bitcoin.
The total market capitalization of the crypto market stands at 2.79 trillion US dollars.
According to Bijie data: the total market capitalization of the crypto market is $2.79 trillion, and the trading volume over the past 24 hours was $14,280.39 trillion.