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Quick Take Summary is AI generated, newsroom reviewed. Vitalik Buterin supports Steak ’n Shake pausing its ETH vote, calling it a principled move. Bitcoin community pressure led to the halt, citing BTC’s superior Lightning performance. ETH averages 15–30 TPS with $3–$10 fees; BTC Lightning offers faster, cheaper payments. Steak ’n Shake processed 120,000 BTC transactions since May 2025 via BitPay. The pause underscores ideological divides shaping crypto merchant adoption in 2025.References X Post Reference
Large Investors Capitalize on Market Crash, Driving XRP's 60% Recovery from Historic Low
Over 1,000 wallets on Hyperliquid have been wiped out, with more than 10 billion USD in positions liquidated, far surpassing Binance's 2.4 billion USD.
Bitmine adds 27,256 ETH post-dip; Tom Lee sees a bullish reversal within a week.Bitmine Doubles Down on Ethereum During Market DipTom Lee Calls It: “A Good Shakeout”Signs of a Market Turn?
- 08:02Equation founder bets on U.S. stock market recovery on Monday, goes long on SOL and XPLBlockBeats news, on October 12, Formula News founder Vida posted on his personal channel this morning, saying, "Once again, I went long on $4 million worth of SOL at an average price of $175.8, and $500,000 worth of XPL at an average price of $0.395. This is equivalent to 1/10 of my ammunition. There is no certainty in this position at all, I just want to gamble a bit. My bet is: the market will quickly recover after the US stock market opens on Monday, just like every time there has been negative news over the weekend before. The crypto market has now dropped by an average of 30%, pricing in an abnormal drop of 5% in the S&P 500 at Monday's open. But if the S&P 500 doesn't fall as much as expected on Monday, then sentiment will quickly recover."
- 08:02Eugene: The altcoin market is over, say goodbye to crypto treasury companiesBlockBeats News, October 12, trader Eugene Ng Ah Sio posted on his personal channel, stating, "There have already been many in-depth analyses regarding Friday's incident. I'll just briefly mention a few points:· The altcoin market has ended for the foreseeable future. The scale of wealth destruction this time, as well as the way it was executed, will leave a long-lasting mark in the minds of participants.· Long-short strategies are not feasible in the crypto market. These strategies may work in normal market environments, but they often fail at the most critical moments.· Chain reactions (contagion) will occur, but the extent is still uncertain. I hope there are no systemic major issues.· Farewell, crypto treasury companies."
- 07:46After losing $2 million in the market crash, a certain whale has reopened ETH long positions and has now recovered the losses.According to Jinse Finance, monitored by Lookonchain, a certain whale was fully liquidated during the market crash, losing $2 million. About 5 hours ago, this whale reopened a 25x long position with $9.5 million USDC, holding 18,960 ETH (worth $72.7 million). Now, the whale has made a profit of $2.24 million, recovering the previous loss.