Crypto Morning News: Coinbase announces the listing of BNB, Limitless starts the LMTS Token airdrop distribution.

Author: Deep Tide TechFlow

Market Dynamics Yesterday

Hong Kong's first Solana spot ETF has been approved and is set to be listed on October 27.

According to the Hong Kong Economic Journal, the Hong Kong Securities and Futures Commission has approved the first Solana (SOL) spot ETF, making it the third cryptocurrency to be approved for the issuance of a spot ETF, following Bitcoin and Ethereum. This ETF is managed by Hua Xia Fund (Hong Kong) and is expected to be listed for trading on October 27, 2025, with the stock code 03460. Each trading unit consists of 100 units, with a minimum investment amount of approximately 780 HKD and a management fee of 0.99%.

Coinbase announced that it will list BNB.

According to the official announcement, Coinbase has announced the listing of BNB, and the BNB-USD trading pair will start to be available in regions that support trading when liquidity conditions are met.

BNB will be listed on coinbase.com, Coinbase App, and Coinbase Advanced. Institutional investors can access BNB directly through Coinbase Exchange.

Binance Alpha rule adjustment: When the daily balance points are 0, the trading volume points and task points will also be counted as 0.

According to the official announcement, the Binance Alpha points rules have been updated: when the daily balance points are 0, the trading volume points and task points will also be counted as 0, and this rule takes effect immediately.

The prediction market platform Limitless announces the launch of the LMTS token airdrop.

According to the official announcement, the prediction market platform Limitless has announced the launch of the LMTS token airdrop. Eligible users include Limitless Points traders from the first quarter and Wallchain Epoch 1 Quackers. Users can check their eligibility and claim the airdrop through the official link.

Previously, Limitless announced its tokenomics model: a total supply of 1 billion tokens, with 24.37% allocated for airdrops and incentives.

Market news: In the MegaETH presale, specific NFT holders can receive higher allocations.

According to market news, under the pre-sale rules of MegaETH, specific NFT holders can receive a higher allocation.

The liquidity staking protocol Kinetiq has launched the KNTQ token, which will airdrop 1% and 24% to users holding Hypurr and kPoints tokens, respectively.

According to the official announcement, Hyperliquid's upstream liquidity staking protocol Kinetiq has announced the launch of its governance token KNTQ. The total supply of KNTQ is 1 billion, of which,

30% of the tokens are used for protocol growth and rewards;

25% will be allocated to participants of the Genesis event (1% and 24% will be airdropped to users holding Hypurr and kPoints tokens, respectively);

23.5% reward for core contributors;

10% for supporting the operations of the Kinetiq Foundation;

7.5% allocated to early investors;

4% provide market liquidity.

Aave DAO proposed a related proposal for a “$50 million annual Aave buyback plan”.

According to the Aave DAO governance page, the Aave DAO has proposed a “$50 million annual Aave buyback plan” related proposal.

Moonbirds parent company CEO: Currently conducting one of the largest transactions in Moonbirds history.

Spencer, the CEO of Orange Cap Games, the parent company of Moonbirds, stated in a post that they are currently advancing one of the largest transactions in Moonbirds' history.

Kalshi secures VC investment, with a valuation potentially reaching 10 to 12 billion USD.

According to Cointelegraph, the prediction market platform Kalshi announced a partnership with the National Hockey League (NHL) to become the official prediction market partner of the NHL.

The prediction market Polymarket is in talks for financing, with a valuation that may reach $15 billion.

According to Bloomberg, the prediction market platform Polymarket is in early financing talks with investors, targeting a valuation between $12 billion and $15 billion, which is over 10 times growth compared to four months ago. In June this year, Peter Thiel's Founders Fund led a $200 million investment, with a valuation of $1 billion at that time. Earlier this month, the parent company of the New York Stock Exchange, Intercontinental Exchange, announced it would invest up to $2 billion in Polymarket, with a valuation of about $8 billion. This series of financing rounds has made Polymarket CEO Shayne Coplan the youngest self-made billionaire.

The cryptocurrency company Cube plans to go public through a SPAC merger and will spend $500 million to acquire SOL reserves before the merger is completed.

According to Newswire, special purpose acquisition company Mercer Park Opportunities Corp. announced that it has reached a definitive business combination agreement with hybrid digital asset exchange innovation firm Cube Group, Inc. The transaction values Cube at $300 million and is expected to create a publicly traded entity aimed at transforming global capital markets by connecting traditional finance and decentralized finance.

According to the terms of the agreement, Mercer Park will acquire Cube through a business merger, making Cube a wholly-owned subsidiary of the merged company. One of the conditions for the completion of the transaction is that the merged company must use stock as consideration to acquire $500 million worth of Solana (SOL) tokens as a treasury. The purpose of this treasury purchase is to optimize treasury management through staking yields.

Market Dynamics

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