Morning Report | Polymarket may launch the token POLY; MetaMask will launch a rewards program at the end of October and confirm the launch of a token; YZi Labs announces the establishment of a $1 billion builder fund
Overview of Important Market Events on October 8th整理：Zhou，ChainCatcher
Important News:
- Polymarket founder mentions POLY, may soon launch POLY token
- MetaMask announces reward program launching at the end of October, confirms token launch
- Federal Reserve meeting minutes show another rate cut expected in October
- YZi Labs announces establishment of a $1 billion builder fund to support BNB ecosystem founders
- Analyst: Short-term Bitcoin holders increased their holdings by 559,000 coins in the past quarter, indicating a surge of new buyers entering the market
What important events occurred in the past 24 hours?
According to ChainCatcher, as reported by Jin10, CME "FedWatch" shows a 5.9% probability of the Federal Reserve maintaining rates in October and a 94.6% probability of a 25 basis point cut. Additionally, the probability of maintaining rates in December is 0.9%, with a cumulative 19% probability of a 25 basis point cut and an 80.1% probability of a cumulative 50 basis point cut.
Polymarket founder mentions POLY, may soon launch POLY token
ChainCatcher reports that Polymarket founder and CEO Shayne Coplan posted: "BTC, ETH, BNB, SOL, POLY," possibly hinting at the upcoming launch of the official POLY token.
Federal Reserve meeting minutes show another rate cut expected in October
ChainCatcher reports that, according to Jin10, the Federal Reserve meeting minutes mentioned a recent decline in policy rate expectations, primarily due to weaker-than-expected employment data and a significant increase in employment downside risks. Almost all respondents expect the current meeting to lower the target rate range by 25 basis points, with about half expecting another cut in the October meeting. The vast majority expect at least two 25 basis point cuts by the end of the year.
MetaMask announces reward program launching at the end of October, confirms token launch
ChainCatcher reports that the crypto wallet MetaMask announced the launch of perpetual contract trading features, which are now live, and the MetaMask reward program will start at the end of October. MetaMask is introducing a points system and tiered rewards aimed at rewarding on-chain trading activities. Users can earn points for each token swap and perpetual contract trade, and can also earn points by referring others. In the future, users will also earn points by spending with the MetaMask card and holding mUSD, expanding rewards across the ecosystem. The reward program will run quarterly, offering over $30 million in LINEA tokens, perpetual contract fee discounts, and point bonuses.
The first season will provide bonuses for swaps on the Linea network and for swaps and bridging operations via MetaMask Mobile. Points can be accumulated for future seasons, which will offer more exclusive benefits, including the upcoming MetaMask token.
Later this year, in permitted regions, MetaMask will allow users to participate in on-chain prediction markets directly on the MetaMask platform through integration with Polymarket. Users will be able to trade markets covering various fields such as sports, cryptocurrency, and politics.
Solana smart network 375ai completes $5 million new funding round, led by Delphi Ventures
ChainCatcher reports that, according to market news, Solana smart network 375ai has announced the completion of a $5 million new funding round, led by Delphi Ventures, Strobe Capital, and HackVC, with participation from 6MV, ARCA, EV3, Peaq, and Heartcore. To date, the company's total funding has reached $10 million, providing blockchain-based decentralized edge data smart network nodes and mobile applications for real-time data collection, with plans to launch the token TGE at the end of October.
Current market sentiment leans bearish, need to watch BTC potentially testing $116,000-$118,000
ChainCatcher reports that Greeks.live researcher Adam posted on social media, stating, "The current community shows recent bearish sentiment, expecting a downward trend, particularly focusing on ETH dropping to $4200-$4300 and BTC testing $116,000-$118,000. However, there is a clear divide between short-term bearish traders and long-term bullish holders, with discussions around whether the reduced volatility of BTC and institutionalization signify maturity or weakness."
MetaMask announces launch of in-wallet perpetual trading feature via Hyperliquid
ChainCatcher reports that MetaMask has announced the launch of in-wallet perpetual trading features via Hyperliquid. Previously, MetaMask tweeted that perpetual contracts are now live, and users can start trading perpetual contracts on the MetaMask mobile app, with reward activities coming soon.
Predictive Oncology completes $343.5 million PIPE financing to support ATH token treasury strategy
ChainCatcher reports that, according to Globenewswire, Nasdaq-listed Predictive Oncology has announced the completion of $343.5 million PIPE financing, which the company will use to purchase ATH tokens in the open market to support its ATH token treasury strategy.
NYSE-listed DDC Enterprise completes $124 million financing, led by PAG Pegasus Fund, OKG, etc.
ChainCatcher reports that NYSE-listed DDC Enterprise Limited (NYSE: DDC) has completed $124 million in equity financing, led by PAG Pegasus Fund, OKG Financial Services Limited (a subsidiary of OKG Technology Holdings Limited), and Mulana Investment Management, with DDC founder, chairman, and CEO Zhu Jiaying personally investing $3 million.
It is reported that almost all participating capital in this round of financing (including the founder's investment) has committed to lock up their shares for 180 days from the completion of the transaction to support the execution of DDC's Bitcoin treasury strategy.
ChainCatcher reports that stablecoin startup Coinflow has announced the completion of $25 million in Series A financing, with participation from Pantera, Coinbase Ventures, Reciprocal Ventures, and Jump Capital. The company uses stablecoins as an intermediary layer to help merchants process payment transactions that support stablecoins.
ChainCatcher reports that after receiving a $2 billion investment from ICE at a valuation of $9 billion, Polymarket CEO Shayne Coplan disclosed two previously undisclosed financing transactions on the X platform.
The first transaction occurred last year, with Blockchain Capital leading a $55 million investment at a valuation of $350 million, with participants including Founders Fund, 1789, 1 confirmation, Abstract, Coinbase, Dragonfly, ParaFi, and SV Angel. The second transaction occurred earlier this year, with Founders Fund leading a $150 million investment at a valuation of $150 million, with participants including Ribbit, Valor, Point 72 Ventures, Blockchain Capital, and others.
ChainCatcher reports that, according to Lookonchain monitoring, BSC is once again leading the market, with decentralized exchange trading volume exceeding $6.05 billion in the past 24 hours and on-chain fees reaching $5.57 million, ranking first among all public chains.
YZi Labs announces establishment of a $1 billion builder fund to support BNB ecosystem founders
ChainCatcher reports that, according to official news, YZi Labs has announced the establishment of a $1 billion builder fund to double support for the BNB ecosystem, especially for founders on the BNB chain.
By leveraging the high-performance, low-cost infrastructure of BNB Chain, builders can now access enhanced tools, funding, integrations, and a user ecosystem of over 460 million to drive real-world impact. The upcoming EASY Residency Season 2: The final recruitment for the most valuable builders (MVB) committed to BNB-based innovations (trading, RWA, AI, DeSci, DeFi, payments, wallets). EASY Residency Season 2 will expand operations to New York, San Francisco, Dubai, and Singapore, aiming to create a highly engaged, immersive product delivery environment for builders.
ChainCatcher reports that CryptoQuant analyst Axel posted on social media, stating, "In the past quarter, the supply of Bitcoin held by short-term holders increased by 559,000 coins, from 4.38 million to 4.94 million, indicating a surge of new buyers entering the market."
ChainCatcher reports that, according to DeFillama data, the Binance platform has seen a net inflow of $3.958 billion in crypto assets over the past month, with total crypto assets reaching $21.6782 billion.
Binance Life's market cap briefly surpasses $500 million, setting a new historical high
ChainCatcher reports that, according to GMGN market data, the market cap of the BSC ecosystem meme coin "Binance Life" briefly surpassed $500 million, setting a new historical high, currently reported at $491 million, with a 24-hour increase of 635%.
Meme Popularity Rankings
According to meme token tracking and analysis platform GMGN market data, as of October 9, 08:30,
The top five popular ETH tokens in the past 24 hours are: USDe, sUSDe, ETH5000, LINK, BUN
The top five popular Solana tokens in the past 24 hours are: MetaMask, TRUMP, LILPEPE, 4, Solaween
The top five popular Base tokens in the past 24 hours are: EURC, ZEN, HOPELESS, ZORA, Polyfactual
What are some noteworthy articles to read in the past 24 hours?
From Frenzy to Rationality: The Value Shift in Crypto Investment by 2025
From January 1 to September 30, crypto venture capital totaled $4.09 billion across 463 rounds of financing, with 392 rounds disclosing check amounts. According to financing tracking data from Decentralised.co, this represents a 19% decrease compared to the same period last year. The total financing amount for the same period in 2024 was $5.04 billion across 980 transactions, with 725 transactions disclosing financing amounts.
Despite the decline in total financing, the average deal size for disclosed rounds surged by 50% to $10.4 million, while the median check amount rose from $3 million to $4 million in 2025. Thus, while the market appears calmer than the previous year, capital density is higher.
Cathie Wood is the founder and CEO of Ark Invest, and she shared why she firmly believes Bitcoin will become the leading cryptocurrency, detailing the important role of stablecoins in the crypto ecosystem. She also mentioned her friendly disagreements with Fundstrat's Tom Lee. While she believes Ethereum will not surpass Bitcoin, her attitude towards Ethereum has changed, and she recently invested in BitMine.
Additionally, Cathie discussed the potential impact of gold's recent strong performance on the cryptocurrency market and the overall financial market. She provided valuable insights for investors on how to navigate challenges in this rapidly changing field, helping them better grasp market trends and investment opportunities.
Why did the NYSE invest $2 billion in Polymarket?
On October 7, The Wall Street Journal reported that the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is nearing a $2 billion investment in the decentralized prediction market platform Polymarket. This could not only become one of the largest private placements in the history of the crypto space but also signifies a deep convergence between traditional financial infrastructure and Web3 market forms.
In the context of Bitcoin being adopted by corporate treasuries and stablecoins becoming global settlement assets, ICE's investment points to a more macro proposition: the boundaries of the market are being redefined. If the past financial markets priced "assets," then Polymarket represents a new order that prices "beliefs" and "expectations."
This article attempts to interpret the logic behind this investment—why an exchange managing $29 trillion in market value would bet on a new type of market rooted in the crypto world, centered on "predictions," and what this means for the next paradigm shift in the global price discovery system.
The market does not want the crypto community to have a peaceful National Day holiday. The U.S. government shutdown and Bitcoin hitting new highs may not make you feel like you've missed something, but if you missed the Mid-Autumn Festival explosion of meme coins on the BSC chain, that would indeed cause anxiety.
At CZ's call, three highly popular meme coins have emerged on the BSC chain in recent days: Binance Life, PALU, and 4.
The meme coin 4, deployed on October 1, currently has the highest market cap at $250 million; PALU is the community mascot that has been retweeted multiple times by Binance officials and CZ, and due to its unexpected launch on Binance Alpha on October 7, its market cap surged from about $3 million to $60 million, with a 2000% increase in one hour.
However, in terms of popularity and attention, Binance Life currently has the greatest influence. This meme derives from the viral "Apple vs. Android" debate by the internet celebrity Chen Feng, comparing Binance to "Apple" in the crypto space, creating the community catchphrase "Drive a Binance car, live in a Binance community, enjoy a Binance life."
"Derivatives are the holy grail of DeFi." The consensus that on-chain perp protocols are the ticket to the second half of DeFi was reached as early as 2020.
However, the reality is that for the past five years, perp DEX has struggled between "performance" and "decentralization," with the AMM model represented by GMX achieving permissionless trading but struggling to compete with CEX in terms of trading speed, slippage, and depth.
Until the emergence of Hyperliquid, which, with its unique on-chain order book architecture, achieved a CEX-comparable smooth experience on a fully self-custodied blockchain. The recently passed HIP-3 proposal has further broken down the walls between Crypto and TradFi, opening up infinite possibilities for trading more assets on-chain.
Risk warning
