%20(9).jpg)
Uptober didn’t need a grand entrance, it just showed up, steady and confident. The market’s been twitching back to life, liquidity trickling in, traders starting to trust the charts again. Now’s the time to stay locked in, what’s happening isn’t just about the size of your bags or the roadmap of your project. It’s shaping the industry itself, setting the tone for a cycle unlike anything we’ve seen before. Here’s your Magnet Weekly Digest.
Before the US government officially went dark on October 1, markets were already bracing for impact and investors started rotating into safe-haven assets. As Congress failed to extend funding, uncertainty rippled through Wall Street, but Bitcoin quietly took the spotlight. BTC climbed 2.7% to around $116K, and another 3% in the 24 hours post-shutdown, pushing toward the $120K mark - its highest level in two months. Altcoins followed suit: $ETH, $SOL, and $XRP gained between 4–7%, riding the liquidity wave as the dollar softened. With 90% of SEC staff furloughed and ETF approvals on pause, traders saw crypto as one of the few markets still moving. Analysts say this short-term surge could turn into sustained momentum if political paralysis persists. Still, caution remains — prolonged shutdowns mean missing macro data, rising bond yields, and less risk appetite, which could flip the market back into consolidation.
The payments giant has kicked off Visa Direct, a pilot program letting institutions settle cross-border transfers using pre-funded stablecoins instead of holding capital in local accounts. The move could drastically cut costs and delays in international payments, especially when traditional systems slow down on weekends or holidays. Stablecoins act as the “fuel” here, enabling faster liquidity movement and real-time settlement. It’s not just a test, it’s a glimpse of how traditional finance and blockchain are finally merging. For Visa, this is a low-risk experiment with massive upside: faster transactions, simpler treasury management, and a foot firmly in the crypto rails of the future. Think of it as the first draft of how TradFi meets DeFi - quietly, efficiently, and very intentionally. Visa isn’t waiting for banks to catch up.
October’s shaping up as ETF season and not just for Bitcoin. The SEC is reviewing 16 new crypto ETF filings, many tied to altcoins like Solana, XRP, Litecoin, Dogecoin, and Cardano. The regulator recently introduced new generic listing standards, cutting red tape and allowing issuers to skip individual filings — a signal that the SEC might finally be loosening up. First up on the calendar: Litecoin ETFs, followed by Solana mid-month, and XRP toward the end of October. Approval of even a few could open the floodgates for institutional money and potentially ignite a long-awaited “alt season”. But optimism is tempered with realism, past ETF attempts often hit the wall, and it’s still unclear how far the SEC’s “new approach” really goes. Either way, this month could define the next leg of the crypto market’s evolution.
The total stablecoin market cap just blasted past $300 billion for the first time - a massive milestone that could set the stage for the next crypto rally. Supply is up nearly 47% year-over-year, showing how stablecoins have evolved far beyond “digital dollars” into a core part of liquidity, payments, and cross-chain capital movement. Analysts are calling this surge “rocket fuel” for the market, since that much ready-to-deploy capital can flood into Bitcoin, Ethereum, and other assets at the first hint of momentum. Tether (USDT) still dominates with around 58% market share, while USDC sits close behind at $70–75B, boosted by heavy activity on Solana. The expansion of stablecoin circulation, especially in institutional contexts, shows how deeply integrated digital assets are becoming in global finance. That $300B milestone isn’t just psychological, it’s a signal that the money’s waiting on the sidelines, ready to jump back into risk assets once the charts start turning green. And while analytics platforms disagree slightly on the exact number, everyone agrees on the trend: stablecoins have become the foundation for the next phase of crypto growth.
World Liberty Financial, a company tied to the Trump family, just dropped plans for a crypto debit card that lets users spend their coins on everyday purchases — groceries, gas, whatever — like any normal bank card. A pilot version is expected next quarter, with a full rollout by late 2025 or early 2026. The card acts as a real-world bridge for digital assets, finally giving people a way to use crypto outside exchanges and wallets. But the vision doesn’t stop there: the company is also diving into tokenizing real-world assets, from real estate and oil to cotton and timber, aiming to build a transparent, on-chain marketplace for physical value. At the heart of it all is USD1, their own stablecoin backed by Treasuries and cash reserves — designed to cut dependence on traditional banks. The idea is ambitious, but it’s not without controversy: some see it as a major leap toward mainstream adoption, while others call it a politically charged project with questionable transparency. Either way, it’s another sign that crypto is creeping closer to the everyday economy — one swipe at a time.
🧲 The signals are everywhere: capital’s awake, regulators are cornered, and the bridges between TradFi and crypto are being built in plain sight. When history looks back on this phase, it’ll read like the prologue to something bigger. Keep your charts close and your conviction closer — the next pivot won’t wait for confirmation.
