Whale Accumulates $2.71M in $MET and Moves to Staking
A notable wallet has accumulated a significant position in $MET . Approximately 10 hours ago, the address withdrew 8 million $MET (valued at roughly $2.71 million) from Bybit and transferred the full amount into staking.
👀 Bitwise Highlights NEAR’s Position in the Emerging Agent Economy
Bitwise has published a report titled “NEAR in Plain English,” outlining the case for $NEAR Protocol.
According to the analysis, NEAR sits at the intersection of cross-chain trading and AI agents, with the $NEAR token structured to capture related fees.
A fee switch is already directing Intents fees into open-market buybacks, while network inflation has been reduced from 5% to 2.5%. Intents has processed more than $30 billion in volume to date.
🚨 Pudgy Penguins’ ( $PENGU ) Abstract Chain Is Shutting Down
Pudgy Penguins’ parent company, Igloo Inc., is shutting down its Ethereum Layer-2, Abstract, on December 15.
The chain struggled to scale beyond consumer crypto. The team cited limited DeFi activity, thin liquidity, low institutional interest, and a smaller budget as the reasons it became unsustainable to keep running.
Users have until December 15 to bridge their assets off the network. Anything left behind after that date will no longer be accessible.
$NEAR Intents Buybacks Just Hit $1.84M in September 🔥
Quick numbers: • $29M in fees paid by Intents users since Feb • $5.3M of that went into open-market NEAR buybacks • August: $723K → September: $1.84M (2.5× jump)
Why the acceleration? Buybacks are a cut of swap fees, and volume is exploding. 30-day Intents volume is now $4.8B — almost 9× higher YoY. September also added Hyperliquid perps + Ondo tokenized stocks, both live on Intents. And this is only Intents. L1 fees are burned on top (70% now → 100% after the approved upgrade). $NEAR AI Cloud is paid via staking $NEAR .
More volume → more NEAR bought on the open market. No unlocks. No treasury dumps. Just pure demand.
$RLC Tests Resistance After Descending Triangle Consolidation
Following a strong rally, $RLC has been consolidating within a descending triangle pattern on the 30-minute chart. Price is currently testing the upper resistance of the formation. A confirmed breakout could open the path for further upside momentum, with the next target levels coming into focus.
$RLC remains worth monitoring closely on the lower timeframes.
🚨 $SOL and $SUI Now Power USDC Transfers in Samsung Wallet
Samsung has announced that U.S. Galaxy users will be able to send USDC directly from Samsung Wallet starting the last week of October. The feature will be available across approximately 82 million devices.
Unlike traditional crypto applications, USDC transfers will be integrated into the same Samsung Wallet interface already used for cards and digital IDs.
Coinbase and Bastion will operate the USDC infrastructure, with Bastion serving as the licensed custodian. Solana and Sui will function as the underlying blockchain rails supporting these transfers.
We’re seeing some very large buy and sell orders sitting on the $SAND order book, with millions of dollars in liquidity appearing around the same time. 👀
But here’s the important part:
Don’t assume those walls are real support or resistance.
Large buy walls can make traders think:
🟢 “There’s strong support here.”
While large sell walls can create the opposite impression:
🔴 “Price is going to get rejected.”
That can potentially influence trader behavior and create fear, FOMO, or confusion.
And the problem?
Order-book walls can disappear just as quickly as they appeared.
They can be canceled, moved, or repositioned before price ever reaches them.
So for $SAND , I’d rather focus on actual executed volume and price reaction than blindly trusting large resting orders.
Big orders on the book ≠ guaranteed support or resistance. 👀📊
It’s about $NEAR Intents potentially becoming the default cross-chain execution layer for assets and AI agents. 👀
The numbers are starting to get attention too:
📊 Intents reportedly processing around $5B/month 🏦 Bitwise’s $NEAR ETF reportedly pulled roughly $50M in its first 2 days 🚀 Backpack just added NEAR spot + perps
But there’s an obvious counterweight:
⚠️ The Intents exploit.
Around $3.8M was drained, but the funds were reportedly recovered and affected users were refunded.
That makes the next few weeks especially important.
The real question now is:
Does Intents volume keep growing after the hack?
And on the ETF side:
Do the inflows continue after the launch-week hype fades?
If both hold up, the bull thesis gets considerably stronger.