1️⃣ The growth in stablecoin payments is outpacing the expansion of its supply scale. 2️⃣ Both BTC and ETH spot ETFs saw net outflows last week, with demand for funds yet to show significant recovery. 3️⃣ Large-scale liquidations occurred in perpetual stock contracts over the weekend. Things to watch: October 19th at 21:30 (Beijing time), when the U.S. stock market opens as usual, we can monitor whether the price gap between chip stock spot prices and weekend on-chain perpetual stock contracts narrows. Meanwhile, CME previously planned to launch BCH and UNI futures on October 19th, but the official announcement still states that regulatory review is pending.