ACT Rockets 72% While LMTS Crashes 60% — Crypto Market Turns Wild (Oct 23, 2025)

 

Crypto Market Update: 23 October 2025 — Hyperliquid’s SEC Filing and T. Rowe Price’s ETF Plans Jolt the Market

The global cryptocurrency market is navigating a mild downturn today, with market sentiment shifting amid regulatory filings, institutional entries, and growing macroeconomic uncertainty. Despite optimism earlier in the week, a combination of cautious investor behavior, ETF developments, and political headlines has weighed on overall performance.

Global Market Overview

As of Thursday, October 23, 2025, the total global crypto market capitalization sits at $3.74 trillion, reflecting a 0.4% decline over the past 24 hours. Total daily trading volume reached $193 billion, indicating continued market participation but subdued momentum compared to the early October surge.

Source: Forex Factory

Bitcoin (BTC) maintains dominance with a 57.7% market share, while Ethereum (ETH) follows with 12.3%. Analysts suggest that this slight pullback is part of a broader cooling-off phase after several weeks of intense volatility driven by ETF filings and macroeconomic speculation.

A total of 19,312 cryptocurrencies are currently being tracked across exchanges, highlighting the expanding digital asset landscape. Notably, AI-based crypto projects and XRP Ledger ecosystem tokens have emerged as today’s standout gainers, showcasing the sector’s continued appetite for innovation and interoperability.

Bitcoin and Ethereum: Market Leaders Under Pressure

Bitcoin is trading at $108,409, representing a minor 0.1% drop in the last 24 hours. Trading volume stands at $79.9 billion, with a total market cap of $2.16 trillion. Despite the small correction, Bitcoin remains firmly above the $100,000 psychological threshold, signaling investor resilience even amid uncertainty.

Ethereum, on the other hand, has seen a slightly sharper decline, dipping 1.2% to $3,827.94. Its market capitalization is now $462 billion, supported by a robust $40 billion in trading activity. Analysts point to profit-taking in ETH following its mid-October rally fueled by DeFi growth and AI-related integrations across smart contracts.

Top 5 Trending Coins Today

• ChainOpera AI (COAI): Soaring 66.5% to $13.36, driven by speculation around its upcoming AI data-sharing upgrade. Daily volume: $191 million.

• Turtle (TURTLE): Down 37.4% to $0.1703, with $136 million in trades — a sharp correction following last week’s parabolic rise.

• Limitless (LMTS): Plunged 59.2% to $0.283, recording $56.8 million in trading volume.

• EVAA Protocol (EVAA): Surged 52.8% to $7.92, with $110 million in volume, following the announcement of a major cross-chain liquidity partnership.

• Aster (ASTER): Slightly down 7.3% at $0.9706, with an unusually high $761 billion trading turnover, sparking debate over possible reporting anomalies.

Top Gainers and Losers

Gainers:

• Acet (ACT) climbed 71.5% to $0.03158, buoyed by strong retail inflows and social media momentum.

• BOTXCOIN (BOTX) rose 43.5% to $0.02073, driven by renewed listings on Asian exchanges.

• BNB Attestation Service (BAS) posted a 61.0% gain, reaching $0.01587 with $57 million in 24-hour volume, showing surging investor confidence in BNB’s DeFi ecosystem.

Losers:

• Limitless (LMTS) continues its slide, dropping 59.1% after an aggressive pump earlier this week.

• Turtle (TURTLE) fell 37.0%, extending its two-day decline amid liquidity concerns.

• Hajimi dropped 21.5% to $0.04377, following reports of reduced community activity.

Stablecoins and DeFi Sector Update

The stablecoin market remains steady with a combined capitalization of $312 billion and $157 billion in 24-hour trading volume. Meanwhile, DeFi tokens have seen slight outflows, with total market cap down 0.8% to $136 billion. DeFi dominance remains stable at 3.6%, underscoring the segment’s continued role in on-chain liquidity and lending activity.

Investor Sentiment: Fear and Greed Index Rises Slightly

The Bitcoin Fear and Greed Index currently reads 27, signaling persistent fear across the market — but a modest recovery from yesterday’s 25 (Extreme Fear).

Source: Alternative Me

Market strategists note that the incremental improvement suggests investors are cautiously re-entering positions following a volatile start to October. Last month’s reading of 43 (Neutral) highlights how quickly sentiment has cooled, reflecting traders’ hesitation amid global macroeconomic uncertainty and ETF-related speculation.

Latest Crypto Market News

Coinbase Launches AI-Powered Payments

Coinbase has rolled out Payments MCP, a groundbreaking tool allowing AI agents such as Claude and Gemini to execute on-chain payments using natural language. Built in collaboration with the x402 Foundation, this innovation could reshape the future of automated financial transactions — marking the dawn of what Coinbase calls “agentic commerce.”

This development positions Coinbase as a leader in the emerging intersection of artificial intelligence and blockchain-based payments, potentially transforming how developers and businesses integrate crypto transactions into everyday applications.

Hyperliquid Files S-1 with the SEC

In a major regulatory milestone, Hyperliquid Strategies Inc. has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC). The company aims to offer 160 million shares, potentially raising $1 billion through Chardan Capital Markets.

Analysts interpret this move as a strong sign of maturity within the decentralized derivatives market, as Hyperliquid plans to allocate part of the proceeds toward expanding its HYPE token ecosystem and scaling its on-chain trading engine.

T. Rowe Price Enters the Crypto Arena

Traditional finance giant T. Rowe Price, managing $1.8 trillion in assets, has filed for an actively managed cryptocurrency ETF, marking a major strategic shift for the 87-year-old institution.

According to Nate Geraci, President of The ETF Store, this represents a “historic crossover moment” for legacy finance and crypto assets. T. Rowe Price’s entry follows a growing trend among traditional asset managers seeking exposure to Bitcoin and Ethereum as hedge and growth vehicles in diversified portfolios.

Trump Eyes Quantum Computing Firms

In a geopolitical twist, reports suggest the Trump Administration is in talks to acquire stakes in major quantum computing firms, including IONQ, Rigetti Computing, and D-Wave Quantum. The move, first reported by The Wall Street Journal, could strengthen U.S. technological competitiveness and reshape the intersection of national security and advanced computation.

Crypto analysts note potential long-term correlations between quantum computing and blockchain security, with experts warning that rapid advances in quantum tech could necessitate upgrades to cryptographic algorithms in decentralized systems.

U.S. Government Shutdown Deepens

The ongoing 22-day U.S. government shutdown continues to cloud financial markets, delaying key economic reports such as employment, inflation, and GDP data.

With the Federal Reserve meeting just one week away, the absence of fresh data leaves policymakers in the dark. Analysts say the uncertainty could push the Fed to adopt a more dovish monetary stance, possibly accelerating interest rate cuts to stabilize the economy.

Tucker Carlson’s Bitcoin Controversy

Former Fox News host Tucker Carlson has ignited controversy after stating he refuses to invest in Bitcoin, claiming that “the CIA may have created it” as a surveillance tool.

His remarks, which quickly went viral across X (formerly Twitter), reignited long-running conspiracy theories surrounding Bitcoin’s mysterious origins and the identity of Satoshi Nakamoto. While mainstream analysts dismiss the claim as unfounded, the comments reflect ongoing skepticism about the cryptocurrency’s early history and global power structures.

Final Outlook

The crypto market on October 23, 2025, reflects a broader balancing act — between institutional adoption and retail caution, between innovation and regulation. While Bitcoin’s stability near $108K suggests long-term resilience, the surge in AI and DeFi projects underscores where the next phase of growth may lie.

Investors appear to be watching closely as the interplay between regulatory developments, institutional participation, and macroeconomic uncertainty continues to shape digital asset performance heading into November.

Writer @Ellena

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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