Despite a global market selloff, Bitcoin experienced an 11% increase in October, concluding at a substantial monthly level. US Bitcoin ETFs saw inflows of $2.28 billion in one week alone, contributing to a total of approximately $5.63 billion for the month. With rising short-term options volatility, BTC futures open interest also increased, indicating strong demand amid election positioning. Meanwhile, developments in the blockchain space included Space and Time Labs launching its SXT Chain testnet, which facilitates zk-verifiable data delivery, and the =nil; Foundation unveiling its Ethereum L2 testnet that integrates zkSharding. Additionally, Nomic introduced its Babylon bitcoin staking on Ethereum testnet. Lastly, Zircuit announced the “EIGEN fairdrop,” distributing 2% of its total supply to EIGEN holders, reinforcing engagement in the crypto space.

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