Todays Top Stories

Editor: @PhoenixxDown

Saturn and ArchNtwrk Break New Ground

It wasn’t just Bitcoin knocking on the door of its all-time high that got us all hot and bothered yesterday! In what some are calling a landmark moment for Bitcoin DeFi, Saturn and ArchNtwrk announced they have enabled the first trustless AMM (Automated Market Maker) swap on Bitcoin’s main layer. The reason for the excitement is simple: this opens the door for more seamless, decentralized trading on Bitcoin without relying on intermediaries or bridging to other networks.

That’s all well and good, but we know what you’re thinking: “What does this mean for us and our bags?” Allow us to explain.

As we know, trading Bitcoin assets involves complex peer-to-peer transactions, which limits liquidity and accessibility. With Saturn’s AMM swap, Bitcoin-based assets can now trade through liquidity pools directly on the network. This means a Uniswap-like experience on Bitcoin itself, allowing users to hold custody of their BTC while seamlessly trading it against other assets in Saturn’s pools.

ArchNtwrk’s smart contracts enable users to trade Bitcoin assets in a secure and user-friendly way. By using a threshold signature system that requires multiple validator approvals, Saturn’s swap process is as trustless as Bitcoin itself. This setup enables trading while preserving the decentralized, no-third-party approach that Bitcoiners value.

With this, liquidity providers also have a secure way to earn yield on their BTC or Runes, adding a new layer of activity to the network that was previously thought impossible!

As mentioned in previous issues, the implications for Bitcoin’s DeFi future are huge. By reducing friction, Saturn’s AMM could unlock far more liquidity for Bitcoin assets and open new trading opportunities. The notion that we are one step closer to CEX listings is bolstered by this news. Runes have not been a top priority for tier-one exchanges due to various factors, one being the lack of ease in functionality compared to coins from chains like Solana, which get listed frequently due to the inverse being true.

Essentially, this could position Bitcoin assets to compete with Ethereum and Solana’s DeFi ecosystems, enhancing broader adoption of Bitcoin-based assets and protocols by companies, wallets, and users alike.

Additionally, it’s well documented that other projects like OP Net and TAP are also exploring DeFi solutions on Bitcoin’s main layer and making fine progress. The competition is healthy, and breakthroughs are happening everywhere. Whoever “wins” the race among these projects vying to be first and best, the real winners here are—once again—us, the users and early adopters!

Daily Alpha | Get Ready for MEMENTO•MORI

Excitement is building as the MEMENTO•MORI Rune approaches its much-anticipated minting event later today. To recap, the MEMENTO•MORI Rune comes with a total supply of 100 million tokens, half of which have been pre-mined and set aside exclusively for Hell Money supporters. The remaining 50 million tokens will be open to public minting on October 30, beginning at block 868186—which is in about 12 hours!

You can follow the countdown until the big show starts here at ord.io.

While some are steering clear of the initial mint due to front-running risks and high fees, others see opportunities in the secondary market. MEMENTO•MORI’s long-term success, however, may depend on the community that builds around it. As Casey and Erin mentioned, there will be no inherent utility from the token; if the community wants utility, they will have to create it themselves. While this is completely reasonable, it may discourage some who were hoping for more.

Transaction fees on the network are expected to rise sharply, and to counteract these potential spikes, the BTC•FEES•GASTOKEN has been introduced by Alkimiya.

Here’s how it works: BTC•FEES•GASTOKEN tracks the average Bitcoin transaction fees during the minting period. When fees spike, the token increases in value, potentially refunding part of your MEMENTO•MORI minting costs. This works by representing long positions on the Alkimiya BTC feerate market, allowing users to hedge against high fees by redeeming BTC•FEES•GASTOKEN for satoshis after November 3, based on average fees during the pool period.

Eligible minters can then claim BTC•FEES•GASTOKEN, though availability will be limited. Find out more here.

Daily Alpha | Digital Asset News Covers $DOG

Popular YouTube channel Digital Asset News released a video yesterday covering $DOG, “the #1 memecoin on Bitcoin,” including a walkthrough on how to buy it.

This exposure to Runes is fantastic for reaching an audience of 350,000 subscribers, and serves as an excellent tutorial for those who are still hesitant to dip their toes into Runes.

While admittedly it’s not as straightforward as trading on Solana and Ethereum, there’s a common perception that collecting on Bitcoin is too difficult. In reality, it’s not entirely different from experiences on other chains.

Do a good deed and show your friends how easy it is to get involved in one of the most asymmetrical bets in crypto this cycle!

Daily Bites

Todays Markets

Ordinals

After a strong green day with Bitcoin surging to $73K and Ordinals following suit, we're seeing the usual small pullback today. The biggest dip is from NodeMonkes, down 8%, while Quantum Cats stand out, rising 9%. The Cats have been a beacon of resilience over the past six months of market uncertainty, rarely dropping below 0.2 BTC.

Volume is mixed, with the top two volume leaders taking hits of 58% and 74%, respectively. Runestone continues to surprise with its strong presence in the top ranks, especially given there’s been no recent announcement of another airdrop. Buyers may be eyeing this as a long-term beta play on $DOG.

In the lower half, familiar names like OMB, Bitcoin Frogs, and Bitcoin Wizards maintain their positions, with KIKA’s floor rising, albeit on slightly lower volume. The key takeaway from the bottom five is indeed the low volume, as low as $17K for the Wizards at number 10.

That said, floors are holding steady without sharp declines—encouraging signs as we head into what’s shaping up to be a very lively “silly season.”

Runes

In the Runes chart, it's a similar story, with red across the top five. Given yesterday's top gainers had increases as high as 40%, a pullback today is nothing to worry about. PUPS remains a standout, holding a $150M market cap—setting up nicely for the next leg up if bullish news or a catalyst arrives.

Once again, WhiteCoco4U has hit the mark. The XO co-founder’s call on The Donald Trump Rune is up 7% today. With election day approaching on November 5th, this Rune might continue gaining momentum. You can check out the Ordinals-Alpha post inside the XO server here to get the full run down of his picks.

RSIC holds its place in the top 10 despite no fresh news, as speculation fuels buys. And in response to Solana’s $LUCE, currently valued at $77M, Bitcoin degens have created a Rune dedicated to the Catholic Church’s mascot to try and ride those coattails—Luce Mascot of the Holy Year. It’s not as high, with a $67K market cap, but volume has brought it into the top 10—perhaps a good risk/reward play if $LUCE keeps gaining or if the church inadvertently brings attention to the mascot with a few shitposts.

Todays Opportunities

ExtraOrdinals Whitelisted mints this week

Another week, another list of hyped mints for our ExtraOrdinal giveaway winners! If you won, and you’re feeling bullish, load up those wallets but always stay safe while minting!

Giveaways

Currently, there are no active raffles ongoing. However, more giveaways are expected soon, so join the Discord below and make sure you have notifications on so you don’t miss out when the next ones go live!