Another week, another whirlwind of activity in the crypto sphere. While prices have been consolidating, the undercurrents of ecosystem development, unfortunate exploits, and major corporate earnings are shaping the market's future.

Whether you're a degen farmer, a long-term holder, or just crypto-curious, here’s everything you need to know about the past week in Web3.

🚨 Project Pulse: The Good, The Bad, and The Airdrops

❤️ MEXC Exchange Faces FUD Storm

Rumors are swirling around the MEXC exchange, with users reporting delayed withdrawals and unusual activity. While there's no official confirmation of insolvency, the crypto community is on high alert.

• The Vibe: Extreme caution. The old adage "not your keys, not your crypto" has never been more relevant.

• Community Action: A noticeable number of whales and retail users are preemptively moving funds to other platforms like KuCoin, Binance, or self-custody wallets.

• Our Take: This is a stark reminder of the inherent risks of centralized exchanges. Always prioritize platforms with a long track record of stability and transparency.

🛍️ OpenSea Rolls Out "Wave 2" Rewards

The NFT marketplace giant is pushing hard to regain traction with its OpenSea Rewards program. The latest quest is live, but it comes with a cost of entry.

• The Quest: To earn a "Rewards Chest," users must:

1. Buy an NFT for at least $5 on Abstract (an OpenSea-owned platform).

2. Purchase a verified NFT on Ethereum for at least $10.

• The Implication: OpenSea is strategically using rewards to drive liquidity and volume to both its new ventures (Abstract) and its main Ethereum marketplace.

🚀 Mainnet Mania & Airdrop Season Heating Up

The testnet-to-mainnet pipeline is in full swing, and airdrop farmers are feasting.

• Ethereal: Launched its Mainnet Alpha. Deposits are open to all, meaning you can now provide liquidity or make deposits directly on the platform to farm those precious points. This is a prime opportunity for early users.

• Monad: The highly anticipated ecosystem continues its airdrop campaign. The claim window for chests from the final day is OPEN, but hurry—the deadline is November 3.

• Somnia: Rewards from last week's mandatory quests are now claimable. If you completed the tasks, check your wallet! The final week's quests remain open for one more month.

• Kite AI: A reminder for testnet participants to bind your EOA (Externally Owned Account) wallet in your profile. This is a critical step to ensure you qualify for any potential future airdrop.

🌍 Market-Wide Movements & Macro Insights

💰 Coinbase Crushes Earnings: A TradFi Bull Signal

Coinbase (COIN) reported a massive $1.87 billion in revenue for Q3 2025, handily beating Wall Street expectations. This isn't just good news for the company; it's a bullish signal for the entire industry.

• Why It Matters: Strong earnings from the leading U.S. exchange indicate robust retail and institutional trading activity, reinforcing crypto's deepening integration into the traditional financial system.

💳 Retail Still Reigns Supreme in Bitcoin

Data shows that BTC Retail Dominance remains at a strong ~66%. This means the majority of Bitcoin's supply is still held by individual investors, not large institutions or ETFs.

• The Takeaway: Despite the narrative of institutional takeover, the "little guy" continues to be the bedrock of the Bitcoin network. This decentralization of ownership is a healthy long-term sign.

🔓 Garden Finance Exploited for $5.5M

The DeFi sector suffered another blow with Garden Finance falling victim to a smart contract exploit, leading to a loss of $5.5 million.

• The Aftermath: The stolen funds were quickly routed to anonymous wallets. The team is investigating, but recovery seems unlikely.

• The Lesson: This hack underscores the persistent risks in DeFi. Always audit projects yourself, use verified contracts, and never invest more than you can afford to lose.

😎 Ethereum Hits All-Time Highs in Usage, Lows in Fees

In a stunning display of progress, the Ethereum network has achieved an all-time high in both transaction count and active addresses, while gas fees remain near historical lows.

• Why It's a Big Deal: This is the ultimate validation of Ethereum's Layer 2 scaling roadmap. The network is finally achieving mass-scale usability without pricing out the average user. This is incredibly bullish for adoption.

💸 Base Network Welcomes Korean Won (KRW) Stablecoin

Base, Coinbase's Layer 2 network, has launched its first stablecoin pegged to the South Korean Won (KRW).

• The Significance: This is a major step towards global on-chain currency diversity. It’s not just about USD anymore. This opens up new avenues for remittances, trading, and DeFi products for the Korean market and beyond.

🎯 What to Watch Next Week

• The MEXC Situation: Will it stabilize or escalate into a full-blown crisis?

• Ethereal & Monad Activity: As these mainnets go live, watch for TVL growth and token announcements.

• Macro Pressures: Keep an eye on traditional markets, as crypto correlation hasn't fully decoupled.

💡 The Bottom Line

This week was a masterclass in the dual nature of crypto: boundless innovation paired with persistent risk. From the soaring success of Ethereum's scalability to the grim reminder of exchange and smart contract vulnerabilities, the landscape remains a high-stakes environment.

The key is to stay informed, manage your risk, and keep building.

What story stood out to you this week? Are you farming any of the points programs mentioned? Let us know in the comments!

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