Q4 begins! Outlook for October Q4 is often crypto's "go!" quarter, with fresh liquidity, rate cut odds & L2 throughput create an exciting setup. ➤ Current market state - BTC: $114.5k - ETH: $4.14k - total market cap: $4t - stablecoins: $299b ➤ Liquidity pulse stablecoins have grown for about 24 consecutive months, now reaching $299b. w/ the net stablecoin inflows in q3 surged 324% compared to q4, indicating a return of dry powder. ➤ ETF flows volatile but active. - september 29 saw a +$518m net day across US spot $BTC ETFs - september 30 had mixed results (e.g., IBIT –$46.6M). these flows are important for year end rebalancing. ➤ Macro the next FOMC meetings are october 28–29 and december 9–10. futures indicate a 99% chance of another 25bp cut in october w/ easier policy is a tailwind for risk and onchain activity. ➤ L2 throughput & usage L2 secured value is approximately $44.9b, @base is handling around 1.01m daily active users and approximately 11.85m transactions...
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