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Crypto Daily | Bitcoin Holds $122K While Ethereum Dips Below $4.5K; Polymarket Founder Teases Possible POLY Token Launch

TigerOct 9, 2025 5:54 AM

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Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

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Bitcoin Holds $122K, Ethereum Dips Below $4.5K

Crypto market is showing mixed signals today as Bitcoin broke through $122,000, holding above $120K after a 0.41% gain, while Ethereum slipped below $4,500 following a minor 0.2% drop. Layer 2 tokens led gains with Mantle up 19% and Arbitrum up 1.2%, while AI, Meme, and DeFi sectors also posted moderate advances.

Meanwhile, activity on Binance Smart Chain (BSC) surged, with its 24-hour trading volume surpassing Solana’s amid strong interest in Chinese-themed meme tokens. However, most saw slight price declines, with Binance Life, 4, and Xiao He posting significant trading volumes but weakening market caps.

Polymarket Founder Teases Possible POLY Token Launch

Polymarket founder and CEO Shayne Coplan has sparked speculation about a potential token launch after posting “BTC, ETH, BNB, SOL, POLY” on social media, hinting that the platform’s official token may debut soon. The post comes as Bloomberg reports that Coplan has become the youngest self-made billionaire following a deal with NYSE owner Intercontinental Exchange (ICE).

Arthur Hayes Says Bitcoin’s Four-Year Cycle May Be Invalid

BitMEX co-founder Arthur Hayes, in his new article "Long Live the King!" published on October 9, argues that Bitcoin’s traditional four-year bull market cycle may no longer apply. He links past Bitcoin peaks to shifts in U.S. dollar and Chinese yuan liquidity, noting that price rallies historically followed U.S. quantitative easing or China’s credit expansion.

Hayes suggests that the Fed’s potential rate cuts and China’s moderate credit growth could prolong the current Bitcoin rally, signaling a departure from previous cycle patterns.

Vitalik Buterin Receives $1M STRK Airdrop From Starknet

According to on-chain data, Ethereum co-founder Vitalik Buterin has received an unlocked allocation of 6.29 million STRK tokens from Starknet, valued at approximately $1.01 million. This comes a year after his previous STRK airdrop, following his participation in StarkWare’s $6 million seed round in January 2018.

Notably, Vitalik had deposited his previous STRK allocation onto Binance after receiving it.

Bitcoin & Ethereum Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Wednesday was $440.73 million. The total net asset value of Bitcoin spot ETFs is $62.58 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.86%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net inflow on October 8 was iShares Bitcoin Trust ETF, with a net inflow of $426.20 million, according to SoSoValue.

Source: SoSoValue

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

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