Latest Crypto News and Market Updates – October 6

1. Bitcoin surges past $124,000 as Ethereum climbs above $4,500

Bitcoin quickly rebounded, breaking above $124,000, while Ethereum traded solidly over $4,500. The recovery has restored some optimism to the market, though overall sentiment remains cautious amid lingering volatility.

2. Perpetual swaps dominate 75% of total crypto trading volume

According to The Block, perpetual futures accounted for 75% of all centralized exchange (CEX) trading volume in 2025 — about $49 trillion, compared to $14.8T in spot and $1.3T in options.
This marks an increase from 72% in 2024, confirming traders’ growing preference for high-leverage instruments.

3. Aster introduces flexible reward options for S2 community phase

Aster announced new reward options for its S2 community program on X (Twitter):

 - Option 1: Receive an ASTER token airdrop as usual.

 - Option 2: Get a full refund of S2 trading fees and free trading in upcoming events.

The redemption portal opens October 10–12, and users who don’t make a choice will automatically receive Option 1. The airdrop begins October 14, while fee refunds will be distributed in batches afterward.

4. DefiLlama clarifies Aster delisting decision

Founder 0xngmi stated that DefiLlama does not accept payments or incentives for listings or delistings, nor hold HYPE or ASTER tokens.
Aster’s removal came after a suspicious trading volume spike, prompting an internal review to ensure data accuracy and transparency.

5. Limitless community pre-sale exceeds $200 million

The Limitless prediction market on Base, launched via Capital Launchpad (part of Kaito AI), concluded its pre-sale with over $200 million committed — more than 200x the target.
This overwhelming response highlights the rising demand for on-chain prediction platforms.

6. Gold hits new all-time high at $3,924.39 per ounce

Spot gold reached a record $3,924.39/oz, marking the highest level ever. The surge signals increasing demand for safe-haven assets amid global economic uncertainty.

7. Defiance files for 49 leveraged 3x ETFs linked to crypto and tech

Defiance submitted a filing to the SEC proposing 49 triple-leveraged ETFs, covering firms like Coinbase, MicroStrategy, Robinhood, BitMine, Circle, and assets such as Bitcoin, Ethereum, and Solana.
According to Sumit Roy (ETF.com), this suggests regulators are more open to high-volatility financial products, though they remain suitable only for short-term traders.

8. Andrew Kang slams Tom Lee’s ETH prediction as “stupid”

Mechanism Capital’s Andrew Kang called Tom Lee’s bullish ETH forecast “stupid.”
Speaking at Token 2049, Tom Lee responded humorously: “In crypto, stupid is a compliment — I’ll take that. I’m ETH-tarded.”
The remark sparked viral discussion across the crypto community.

Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.