On-chain Weekly Digest: Prediction market volume flips 2024 election high
Hyperliquid Strategies seeks $1 billion raise to expand HYPE treasury...
On-Chain Overview
Crypto narratives are aligning around recovery: Robinhood expands tokenized stocks on Arbitrum, prediction markets surge past $2B weekly volume, Base ecosystem gains traction with X402, while macro events drive a rebound in altcoins.
The crypto market grew +6.26% to $3.9T despite a sharp -22.73% drop in DEX volume to $112.99B, with Solana leading in DEX activity ($27.8B, -20.52%) and Aerodrome topping revenue ($3.97M, +12.78%), while the DEX-to-CEX ratio climbed from 18.4% to 19.32%.
（Data accurate as of: 27 Oct, 2025, 3:00 am, UTC）
Altcoin, Meme coin, NFT and RWA
Altcoin market cap rose +2.94% to $1.05T, led by meme coins (+3.15%) despite a –36.4% drop in meme trading volume, while NFTs and tokenized RWA gained in market cap (+3.89% and +1.96%) but faced declining volumes.
（Data accurate as of: 27 Oct, 2025, 3:00 am, UTC）
Macro, Stocks & Commodities
Gold fell –2.85% amid rising oil prices (+7.04%) and stronger equities (S&P 500 +1.92%, Nasdaq +2.18%), while bond yields inched up and VIX (–12.07%) and JPY (–1.51%) declined slightly in a stable dollar environment.
（Data accurate as of: 27 Oct, 2025, 3:00 am, UTC）
Key Events of the Week
RWA | Robinhood Expands Tokenized Stocks on Arbitrum (25 Oct)
Robinhood expands to 493 tokenized assets on Arbitrum, reinforcing tokenized stocks as 2025’s top RWA trend alongside Ondo, Dinari, Galaxy, and Centrifuge.
Prediction Market | Prediction market volume flips 2024 election high (21 Oct)
Polymarket led the way with its first $1B week of 2025, and Kalshi had $950M right on its heels.
Prediction Market | Limitless launched token with founder criticised for token sales (23 Oct)
Limitless launched its token with no CEX listing, initiated buybacks to support network health, while the founder faced criticism over token sales.
CEX | Coinbase acquires Echo (21 Oct)
Founded by Cobie, Echo is a community-driven fundraising platform that makes investing more accessible and transparent through private Echo sales or public Sonar sales, aiming to empower users with inclusive and efficient tools.
DAT | Hyperliquid Strategies seeks $1 billion raise to expand HYPE treasury (22 Oct)
The company is a pending merger entity formed by Sonnet BioTherapeutics and Rorschach I, aiming to launch within this year.
Wrapping Up
From a market data perspective: Crypto market cap rose +6.26% to $3.9T despite a –22.73% drop in DEX volume, with meme coins, NFTs, and RWA assets all showing market cap growth amid improving macro sentiment.
From a market events perspective: Robinhood’s tokenized stocks expansion, $2B+ prediction market weekly volume, Coinbase’s Echo acquisition, and Hyperliquid Strategy’s $1B fundraising plan highlight renewed momentum across RWA, prediction, and DAT narratives.
