What Really Happened in the Crypto Market in October? Binance Offers Insights

October was a very eventful month for the crypto ￰0￱ marking negative returns for the first time since 2018, the month witnessed several developments that could affect the price trajectory of certain cryptocurrencies. A monthly research report by the world’s largest cryptocurrency exchange, Binance, has offered insights into what really happened in ￰1￱ have also identified trends that have begun to gain momentum in ￰2￱ Rise of Privacy-focused Chains The $19 billion liquidation on October 10, which resulted in the unwinding of excessive leverage, triggered a negative trend that led to the crypto market experiencing its first red October in seven ￰3￱ market ended last month with a 6.1% plunge amid heightened uncertainty from the ￰4￱ and a rate cut by the Federal ￰5￱ the decline in total crypto market capitalization, Bitcoin’s dominance increased to 59.4%, while Ethereum’s fell slightly to 12.6%.

Institutional interest in Ethereum waxed strong, with new altcoin exchange-traded funds (ETFs) recording significant inflows. Additionally, privacy coins witnessed a significant ￰6￱ on the top three privacy-focused blockchains increased by more than 30%. Zcash led the trend with a 160% surge in daily transaction ￰7￱ is also working on integrating privacy features to balance confidentiality with regulatory compliance. “Advances in zero-knowledge technology and adoption by decentralized apps highlight growing market interest and positive momentum for privacy-focused solutions in the crypto ecosystem,” Binance Research ￰8￱ November End Positively?

Besides privacy blockchains, the industry also witnessed a rising interest in x402, an open payment protocol that reactivates the HTTP 402 ￰9￱ transactions using this standard surpassed 720,000. Analysts found that one-click HTTP mints initially drove the growth of the protocol; however, integrations by Google and Cloudflare reinforced the ￰10￱ Research believes that the two narratives currently defining the ecosystem include the speculative and the structural. Memecoin-led mints fuel the former, while adoption from artificial intelligence (AI) agents for autonomous payments drives the ￰11￱ November progresses, an AI model trading competition is gaining ￰12￱ competition has analyzed several trading behaviors, disclosing that success depends more on disciplined risk management than on prediction ￰13￱ believe the test serves as an example for AI-driven trading projects.

Meanwhile, easing trade tensions between the ￰14￱ China, coupled with the Federal Reserve’s expected end to quantitative tightening in a few weeks, could provide positive market catalysts by ￰15￱ remains to be seen if November will end on a positive or negative note.