Latest Crypto News and Market Updates – October 8

1. BTC and ETH drop sharply as $553 million liquidated in 24 hours

BTC fell below $122,000, down 2.45% for the day, while ETH dropped under $4,500, losing 4.13%. Over the past 24 hours, total liquidations reached $553 million, mostly from short positions amid strong market volatility.

2. DePIN project Grass raises $10 million in bridge funding round

Grass, a decentralized physical infrastructure (DePIN) project built on Solana, is raising $10 million in a bridge round following its completed seed and Series A rounds. The new capital is expected to accelerate development in decentralized infrastructure within the Solana ecosystem.

3. Token TRUMP backed by new Digital Asset Reserve (DAT)

Fight Fight Fight – the issuer of the TRUMP token – is seeking between $200 million and $1 billion to establish the Digital Asset Reserve (DAT), aimed at stabilizing the token’s value. According to Coingecko, TRUMP currently trades around $8, down sharply from its all-time high of $44 in January.

4. BitGo secures regulatory license to operate in Dubai

BitGo announced it has received approval from the Dubai Virtual Assets Regulatory Authority (VARA) to offer licensed brokerage and digital asset intermediation services for institutional clients. The approval comes just one day after VARA fined 19 firms for operating without licenses and violating marketing regulations.

5. BaseVol raises $3 million seed round led by Neoclassic Capital

BaseVol, an options trading platform on the Base ecosystem, completed a $3 million seed funding round led by Neoclassic Capital, with participation from Virtuals Ventures, Baboon VC, and Woori Technology Investment. The platform plans to launch its AI-managed Onchain Vault in October, enabling automated, on-chain trading strategies.

6. Meteora reveals MET tokenomics, 48% supply unlocked at TGE

Meteora, a liquidity protocol within the Solana ecosystem, announced its tokenomics for MET, with 48% of the total supply becoming fully liquid at the Token Generation Event (TGE). These tokens will have no vesting or inflation. The Meteora team committed to not selling any of their tokens at TGE, with all team allocations locked.

Overview

The crypto market saw a sharp correction today as BTC and ETH declined significantly, triggering massive liquidations worth over $500 million. Meanwhile, Solana-based projects like Grass and Meteora continued to attract investor attention, and Dubai tightened its digital asset oversight — approving BitGo’s license while penalizing unlicensed operators.

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.