enso

Cryptocurrency KOL and former FTX community partner Benson Sun posted that Bitcoin experienced an extreme drop this morning. Calculating with a 200-day lookback period, BTC's decline reached -5.65 standard deviations (σ). The Six Sigma standard in manufacturing allows for only 3.4 defects per million occurrences, which defines "almost impossible" in human industrial civilization. Yesterday's BTC volatility was just 0.35 standard deviations away from this "industrial-grade impossibility."A -5.65σ occurrence has a theoretical probability of about one in ten million under normal distribution. Despite the fat tail effect in financial markets, this level of volatility has only occurred 4 times since BTC began trading in July 2010, accounting for about 0.07% of all trading days. Even during the deep bear phases of 2018 and 2022, such a rapid decline had not occurred within a rolling 200-day period. This poses a severe challenge to quantitative strategies.Currently, most quantitative models are built on data after 2015, and historical samples exceeding 5.65σ, apart from the anomalous "312" flash crash in 2020, occurred before 2015, leaving almost no reference precedent.CoinKarma's quantitative strategy has shown a paper loss in this round of market conditions, but due to maintaining low leverage (about 1.4 times) over the long term, it remains manageable, with a maximum drawdown of about 30%. While extreme market conditions are an expensive "tuition," contracts and on-chain data will become important nutrients for future risk control models.

Former Coinbase CTO and angel investor Balaji Srinivasan stated today that the signs of a fiat currency crisis are already emerging, and physical gold is susceptible to government seizure (as seen with Roosevelt's order in 1933), while digital gold like Bitcoin has greater resistance to seizure due to its invisibility and programmability.In the article, Balaji noted that the gold reserves of BRICS countries have surged since the 2008 financial crisis, indicating a shift in the East towards tangible assets, but the internet will replace the dollar-dominated Keynesianism with digital assets.Balaji concluded that for people in sovereign debt crisis countries like North America and Western Europe, gold may not necessarily be the best safe-haven asset, and Bitcoin is a hedge worth considering.

Ethereum researcher Thomas Thiery (also known as soispoke) proposed FOCIL as a core anti-censorship feature in the Hegota upgrade. Hegota is Ethereum's second major upgrade scheduled for the second half of 2026. FOCIL is a protocol layer mechanism that modifies Ethereum's fork choice rules to enforce the inclusion of any valid transaction in on-chain blocks within a limited time.The main goal of this proposal is to reduce Ethereum's reliance on centralized validators to mitigate the potential risk of large-scale transaction censorship in the future, thereby enhancing Ethereum's core value as a neutral, censorship-resistant blockchain. An Ethereum researcher stated, "Without FOCIL, the protocol would be vulnerable to large-scale censorship events. Ethereum should proactively design for long-term resilience rather than reactively respond to sudden censorship."

Crypto KOL and former FTX community partner Benson Sun stated, "Bitfinex whales have significantly accelerated their accumulation recently. They are building positions of about 400 to 600 BTC daily, while the OTC desk has injected approximately 300 million USDT into Bitfinex recently. This marks the most aggressive accumulation record for Bitfinex since the market bottomed out on November 20 last year. Historically, such a pace of accumulation usually indicates two things: · The current market selling pressure is sufficient, allowing for large-scale accumulation without causing a significant impact on prices; · The capital side believes the market has entered a new phase—previously around the $88,000 mark, there was no accumulation of the same intensity. Although it is unclear what specific signals these funds are seeing, it is certain that they clearly believe that accumulating at the current price level is reasonable and cost-effective."

According to Binance spot data, the market has experienced significant fluctuations. ENSO has risen by 20.98% in 24 hours and is in a rebound state after hitting a low.At the same time, LPT, MDT, QTUM, BERA, TREE, and NOM have all shown a "high and then low" state, with 24-hour declines of 7.68%, 14.14%, 5.38%, 6.68%, 7.21%, and 13.47%, respectively.In addition, ROSE has also shown a rebound state after hitting a low, with an increase of 5.73%.

According to Binance spot market data, the market has experienced significant fluctuations. SOMI has dropped by 19.87% in 24 hours, and ZKC has fallen by 27.27%, showing a "high and then low" state.At the same time, 0G has also shown a "high and then low" state, with a 24-hour drop of 9.14%; ENSO has decreased by 21.47%, also exhibiting a "high and then low" state. Among other tokens, SXP and KNC have both hit new lows today, with declines of 25.95% and 7.54%, respectively.However, MLN has performed relatively well, with a 24-hour increase of 5.41%, showing a "bottoming rebound" state.

According to Binance spot market data, there has been significant volatility in the market. DUSK has increased by 37.26% in 24 hours, and ENSO has increased by 93.43% in 24 hours, reaching a rebound state after hitting a low.At the same time, AXS has shown a "high-to-low" state, with a decrease of 16.47% in 24 hours, LPT has decreased by 17.51% in 24 hours, and SOMI has decreased by 18.87% in 24 hours. The other tokens G, KAIA, and ORCA have also shown a "high-to-low" state, with decreases of 6.09%, 6.92%, and 6.21%, respectively.

According to Binance spot data, the market has experienced significant fluctuations. ENSO has risen by 62% in the last 24 hours, reaching a new high for today.At the same time, both SAGA and PENDLE have hit "new lows for today," with declines of 8.63% and 6.55%, respectively. CHZ has reached a new low for the week, with a drop of 15.39%.Additionally, Binance Life has shown a "bottoming rebound" status, with an increase of 6.06%. NEWT, KERNEL, and TURTLE have also reached new highs for today, with increases of 7.45%, 7.16%, and 6.3%, respectively.

The decentralized machine learning network Bittensor has officially partnered with the Web3 education and developer platform HackQuest to jointly launch the Bittensor × HackQuest: Build on Bittensor global developer program. This program focuses on Subnet development and aims to encourage global developers, researchers, and builders to systematically participate in the Bittensor decentralized AI ecosystem.Build on Bittensor is Bittensor's first developer program. The program will combine Bittensor's decentralized machine learning and Subnet architecture design with HackQuest's experience in developer education, local execution, and community organization, providing a complete participation path from learning to practice for developers from various backgrounds.This program continues the joint tour activities previously conducted in multiple cities and officially upgrades to a global developer tour (Bittensor × HackQuest Tour). Past events have attracted over 500 developers, university students, and AI researchers, facilitating in-depth discussions on decentralized AI, Web3 infrastructure, and the Bittensor Subnet mechanism, demonstrating the developer community's strong interest in real Subnet construction and mechanism design.As an important part of the Build on Bittensor program, both parties will launch the Bittensor Subnet Ideathon for the first time, open to global developers. Participants will design and build their own Subnet solutions around Bittensor's Subnet architecture, gaining practical understanding of decentralized incentives, miner and validator collaboration mechanisms, and have the opportunity to receive cash rewards, incubation, and subsequent ecosystem support.Additionally, for developers who are new to Bittensor, HackQuest will provide a structured learning path (Learning Track) covering the basic concepts of Bittensor, understanding of the Subnet mechanism, and practical development preparation, helping new developers smoothly transition from entry-level to participating in Subnet construction.In the future, Bittensor and HackQuest will continue to promote the Build on Bittensor series of activities globally, further expanding the developer base for decentralized AI and driving more Subnets from concept to real operation.

According to Crowdfundinsider, Grayscale Investments has submitted a preliminary registration statement to the SEC, proposing to launch an exchange-traded product focused on Bittensor. The trust is coded as GTAO and aims to provide investors with the opportunity to directly invest in Bittensor's native token, TAO, through regulated channels.The submitted S-1 filing marks the initial phase of converting the existing Grayscale Bittensor Trust into a spot ETF. If approved, GTAO will become the first ETP focused on TAO to be listed in the United States, allowing retail and institutional investors to gain investment exposure without directly holding the underlying crypto token.

Grayscale has submitted an S-1 filing to the U.S. SEC, intending to launch a spot ETF product tracking BitTensor (TAO), further expanding its cryptocurrency asset ETF product line.

According to the official announcement, Bittensor has completed its first halving event in history, reducing the daily token output from 7200 TAO to 3600 TAO.

According to The Block, Grayscale's Grayscale Bittensor Trust has begun trading on the OTCQX, a secondary market operated by OTC Markets Group Inc., under the ticker symbol GTAO.The trust has remained private since its establishment in August 2024, meaning it will now be open to a broader range of investors through a public offering. Additionally, Bittensor is expected to undergo a halving on December 14, which will reduce the token issuance allocated to network participants, thereby increasing the scarcity of TAO.

According to The Block, Grayscale research analyst Will Ogden Moore stated: "Bitcoin's history shows that even with reduced rewards, a decrease in supply can enhance network value, as Bitcoin's network security and market value have been strengthened through four consecutive halvings. Similarly, Bittensor's first halving marks an important milestone in the network's maturation as it moves towards a supply cap of 21 million tokens."Moore noted that Bittensor is currently experiencing strong adoption momentum, with institutional interest on the rise. Moore pointed out that the dTAO launched in February this year is a significant achievement for Bittensor. This mechanism allows subnets to be directly invested in, leading to a substantial expansion of the total market capitalization of these subnets. Moore wrote: "We believe that the early success of certain subnet-based applications, the increase of institutional capital in the Bittensor ecosystem, and the upcoming TAO supply halving could all serve as positive catalysts for driving prices higher."Previously, it was reported that Bittensor will experience its first halving on December 14, when the daily issuance of TAO will be reduced to 3,600 tokens.

According to Cointelegraph, the AI project Bittensor will experience its first halving on December 14, when the daily issuance of TAO will decrease from 7,200 to 3,600.Bittensor is a decentralized open-source machine learning network built around specialized "subnets," creating a market for AI services through incentive mechanisms. Grayscale Research analyst William Ogden Moore described this event as a "key milestone in the network's maturation," as Bittensor moves towards a capped supply of 21 million tokens, adopting a fixed supply model similar to that of Bitcoin.

The Tensor Foundation is the developer of the Solana ecosystem trading platform Vector.fun. Coinbase announced the acquisition of Vector.fun and stated that the Tensor Foundation will remain independent from Coinbase.Earlier reports this evening indicated that the Tensor Foundation announced the acquisition of Tensor Marketplace and Tensorians NFT, raising concerns about insider trading.

According to market news, the Tensor Foundation has acquired Tensor Marketplace and the Tensorians NFT series.Two days before this announcement, the price of TNSR surged by about 300%, raising speculation of possible insider trading. Under the leadership of the new management, all transaction fees from the trading platform will be allocated to the TNSR token treasury, while the portion of unallocated tokens, which accounts for 21.6% of the supply, will be burned, and the allocated tokens will be re-locked for three years.

According to official news, TAO Financial Company TAO Synergies Inc. (NASDAQ: TAOX) announced that it has made an initial investment of $750,000 in the Bittensor subnet fund under Yuma Asset Management, thereby enhancing the company's investment in the Bittensor ecosystem subnet field.

ChainCatcher message, UPBIT will open trading for Enso (ENSO) on October 29, 2023, at 17:00, supporting KRW, BTC, and USDT markets. Users can make deposits within 2 hours after the announcement is published, and trading support will start at the above time.