Plus: IMF Economist Tracks Sticky Stablecoin Demand, BTCPay Server Tells Merchants to Replace Wallets
Good Morning Lions,
Bitcoin slipped under the average entry price of everyone who bought over the last few months, and that crowd tends to sell any bounce just to get back to even. I think that overhead supply is a bigger problem than the drop itself. If BTC takes back that cost basis quickly, those buyers go back to holding and the pressure fades.. if it doesn't, expect more chop, frens.
Bitcoin Drops Below Recent Buyer Cost Basis
TL;DR: Bitcoin traded below the $77,700 realized price of investors who bought one to three months earlier, according to CryptoQuant data reported by Cointelegraph. The Nov. 3 move put BTC near $76,500, under the average cost basis of that recent-buyer cohort.
IMF Economist Tracks Sticky Stablecoin Demand
TL;DR: IMF economist Marco Reuter estimated in an Oct. 31 VoxEU column that cross-border stablecoin activity rose roughly 30% after countries imposed outflow restrictions. His estimate showed no detectable retreat in that dollar stablecoin activity once those capital controls were later removed.
BTCPay Server Tells Merchants to Replace Wallets
TL;DR: BTCPay Server told merchants running outdated versions to rebuild their servers and move to new wallets. Bitquery traced about $1.63 million in suspected thefts of BTC and LTC. BTCPay has not confirmed a total loss figure.
Solana Logs Sixth Straight Transaction Record
TL;DR: Solana processed 3.3 billion successful non-vote transactions in October, its sixth consecutive monthly record, according to Crypto Briefing. Research cited in the report warns that bots and high-frequency trading may inflate those totals.
U.Today Flags NEAR Support Zone
TL;DR: NEAR was trading about 37% below its recent peak near $6.00 on Binance's daily NEAR/USDT chart, according to U.Today. The outlet named $3.60 to $3.70 as the support zone to watch.
Cipher Digital Shifts Power Pipeline Toward Gas
TL;DR: Cipher Digital now puts its power pipeline at about 5.9 GW, made up of 3.4 GW of potential grid capacity and up to 2.5 GW of on-site gas. Q3 2026 revenue fell 62.8% to $26.7 million as Bitcoin mining revenue shrank.
Penguin Solutions Launches Faster AI Memory
TL;DR: Penguin Solutions introduced SMART Modular DDR5 MRDIMMs running at DDR5-12800 on November 2, 2026, pitching them as a way to ease AI memory bandwidth bottlenecks in data centers. The launch follows record Q4 FY2026 revenue of $567 million.
BTCPay still hasn't confirmed a loss total, so Bitquery's estimate is the only number out there right now. Any merchant still running an outdated version stays at risk until they rebuild the server and move to new wallets. 🦁 — Khal
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More crypto news, daily, at news.leodex.io. The Daily LEO · Written by the LEO Team, Edited by Khal.