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Top-performing tokens of the year: only 3 types of tokens outperformed Bitcoin, with AI and privacy sectors rising against the trend

DeFi researcher Ignas published a post reviewing strong-performing tokens this year, pointing out that only three categories—trading, AI, and privacy—have outperformed Bitcoin since the beginning of the year. 1. Trading-related tokens performed most notably, with DRV up 665%, $HYPE up 200%, $PUMP up 121%, and $RAY up 106%. The rationale behind their rise lies in speculative trading generating fee income for protocols, which then use buyback mechanisms to support token value.

2. In the AI category, $VVV rose 1431%, $NEAR up 203%, and $GRASS up 151%; 3. In the privacy category, $ZEC increased by 137% and $XMR by 37%. Additionally, Ignas mentioned institutional adoption narratives involving $QNT and $MORPHO, which rose 173% and 89% respectively. However, apart from these categories, most tokens have underperformed this year; thus, identifying tokens with high revenue-generating potential remains a relatively straightforward trading strategy.

Placeholder Partner: As Bitcoin weakens, long-tail assets demonstrate resilience, with long-term investors continuing to build positions at lower levels

Placeholder partner Chris Burniske tweeted that although the current market is volatile, with Bitcoin falling while long-tail assets are showing potential upward momentum, this indicates that the market has not lost its risk appetite. Long-term oriented investors are still continuously building positions where they believe there is value. There is currently a powerful "wall of worry"; if it can be successfully overcome (very possibly after the midterm elections), the result will surely be remarkable.

Foresight News notes that long-tail assets refer to those assets that are individually smaller in scale, have lower demand or attention, and relatively poorer liquidity, but are numerous and, when aggregated, have considerable value.

RedotPay targets year-end US IPO filing amid $5B valuation talks

According to an October 26 Bloomberg report, citing people familiar with the matter, the company is considering submitting its paperwork privately to the U.S. Securities and Exchange Commission while continuing discussions with investors about a possible pre-IPO funding round.

The proposed fundraising could value RedotPay between $4 billion and $5 billion, although neither the transaction nor the filing timetable has been finalized. The discussions follow months of regulatory preparations and a legal dispute involving Binance-affiliated companies.

IBM, Oracle, Intel, and IonQ oppose OKX's ICE tokenized stocks program

Four more issuers have opposed OKX and ICE Markets' tokenization of their stocks under the SEC's innovation exemption, namely IBM, Oracle, Intel, and IonQ. The total number of opposing issuers has now reached 26.

Bitcoin & Ethereum Spot ETF Flow

According to RootData data, yesterday's total net inflow of U.S. spot Bitcoin ETFs amounted to $110.3 million, with BlackRock IBIT recording a net inflow of $110.3 million, while all other ETFs had no net inflow or outflow.

During the same period, U.S. spot Ethereum ETFs recorded a total net outflow of $88.6 million, with BlackRock ETHA experiencing a net outflow of $104.7 million, Fidelity FETH seeing a net inflow of $16.1 million, and all other ETFs having no net inflow or outflow.