Table of Contents
Introducing
Hello Crypto Enthusiasts! Today, on October 17, 2025, the crypto market is experiencing a mild bearishness, with top coins like Bitcoin ($108,973) to Solana ($186) all trading 2-4% down. Big news such as the strategic moves of exchanges globally, regulatory changes, and ETF launches are shaping the market. In this update, we will look at the prices of the top coins, key headlines (from Binance’s return to Korea to Hong Kong’s Solana ETF) and the technical analysis of SOL and ETH. Let’s find out what these developments mean for investors.
Top Coin Price
| rank | name | value | Change in 24 hours |
| 1 | Bitcoin (BTC) | $108,973.87 | -2.38% |
| 2 | Ethereum (ETH) | $3,921.81 | -2.67% |
| 3 | BNB (BNB) | $1,147.22 | -3.46% |
| 4 | XRP (XRP) | $2.35 | -3.22% |
| 5 | Solana (SOL) | $186.47 | -4.10% |
Top Headlins
Binance’s Spectacular Return to South Korea – The Story of the Gopax Acquisition
introduction
On October 16, 2025, Binance founder Changpeng Zhao (CZ) shared a post with a short but meaningful “” emoji, in response to the announcement of the acquisition of the Gopax crypto exchange in South Korea. The deal was completed on October 15, 2025, after receiving approval from South Korea ‘s Financial Intelligence Unit (FIU). This marks Binance ‘s grand comeback after exiting the country in 2021. Let’s know the story behind this move and its implications.
Binance‘s comeback in South Korea
Binance left the market in 2021 due to South Korea’s strict crypto regulations. But now, after a two-year wait, the company is knocking again through the acquisition of Gopax. This acquisition will allow Binance to operate as a local and regulations-compliant entity. South Korea’ s $50 billion crypto market, where big platforms like Upbit and Bithumb dominate, could now see a new competition from Binance’s entry.
Impact and Prospects
- Growing Popularity: This move can boost the number of users and liquidity.
- Challenges: However, Binance faces regulatory oversight globally, which could pose a significant challenge for this expansion.
- CZ’s Promise: The “” emoji reflects the trust and commitment to CZ’s users and the South Korean market, making this comeback even more special.
What do you do?
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Kraken’s Big Buy: Small Exchange Acquisition Makes Strong Moves in U.S. Derivatives Market
Cryptocurrency exchange Kraken has bought the small exchange for $100 million to strengthen its hold in the US. This acquisition will provide Kraken with a CFTC-regulated futures trading platform, coming from a small exchange owned by IG Group. The deal includes $32.5 million in cash and $67.5 million in shares of Kraken’s parent company, Payward.
This will allow Kraken to launch its own derivatives trading venue in the US, which will open up new opportunities for crypto and other assets. Overall, this move is a crucial part of Kraken’s global expansion strategy, giving investors more secure and diversified trading options.
Australia’s Strict Crackdown on Crypto ATMs: New AML Powers to crack down on money laundering
Australia’s Home Affairs Minister Tony Burke has proposed new anti-money laundering (AML) powers to prevent the misuse of crypto ATMs, under which the country’s financial intelligence agency Austrac would be given the power to control, ban or completely ban crypto ATMs. Australia, which has the third-largest crypto ATM network in the world, has about 1.5 million transactions annually,
through which about $275 million is revolving, and in many cases these are being used for fraud and money laundering. The move builds on the report of Austrac’s Crypto Taskforce, which focuses on high-risk products and channels, to protect investors and cut the roots of money laundering internationally. Overall, this shift will prove to be significant towards making the crypto market more transparent and secure.
World’s First Spot Solana ETF Launched in Hong Kong: New Heights for Crypto Investment
The announcement of the launch of the world’s first spot Solana ETF by ChinaAMC in Hong Kong has caused a stir in the crypto market, where AlloyX’s licensed brokerage Solomon is included as the lead distributor. This launch follows the successes of Bitcoin and Ethereum ETFs in the sector, reflecting regulatory incentives for Hong Kong’s virtual asset products from 2024. The launch event, held in central Hong Kong today at 3-4 p.m., will feature expert speakers on Solana’s ecosystem integration,
while retail investors will receive a free ETF share and 0.1 SOL tokens under the app signup offer. The initial X responses are showing strong enthusiasm, with similar announcements predicting an increase in demand for SOL from institutional inflows with more than 75 likes.
OKX Expands Custody Partnership with Standard Chartered in Europe: New Secure Trading Facility
OKX (OKX) has announced the expansion of its custody partnership with Standard Chartered Bank into the European Economic Area (EEA), enabling institutional clients to trade seamlessly while keeping their digital assets outside the exchange. The partnership started in the UAE and is now being implemented in the EEA in line with the MiCA Regulation,
where clients will be able to place assets in the safe custody of G-SIB Bank through collateral mirroring. This will reduce counterparty risk, strengthen asset security, and increase confidence in global trading, which covers the entire value chain of the crypto market.
SOL& ETH Analysis
Solana (SOL/USD) Chart Analysis (1D Timeframe, TradingView)
Current price: $187.07 (-1.01% today, from $191.1 ).
Trend: Bearish, the price has broken below the 50-day EMA ($208.65) and the 200-day EMA ($196.5). Recent candles are looking red (down), R (resistance) at $187.54.
Support/Resistance: S (support) near $212.75, but recent low around $175.8. Volume 9.9B, high but in a downtrend.
Indicators:
MACD: Bearish crossover (blue line down), histogram negative.
RSI (bottom panel): Towards the oversold zone ($32-49 range), but not below 30 just yet.
Time Period: From April to October 2025, falling from 260 to 187 in recent months. Short-term selling pressure, but volume support may give.
ETH/USD Analysis (Daily Chart)
Ethereum is currently trading at $4,031. Its resistance (R) is $4,564 and support (S) is between $3,846–$3,553.
- The EMA is trading below 50 ($4,229), indicating short-term weakness.
- The EMA 200 ($3,553) could act like long-term support.
- The MACD is still in the negative zone and the crossover is on a downward trajectory, indicating bearish momentum.
A correction to $3,550 is possible if ETH falls below $3,850, while a breakout above $4,230 could resume the bullish momentum.
Conclusion:
Overall, today’s crypto landscape is showing mixed signals—despite the bearish charts (downtrend in both SOL and ETH), the expansion plans of platforms like Binance, Kraken, and OKX and Hong Kong’s Solana ETF could bring new energy to the market. However, regulatory measures such as those in Australia serve as a reminder to exercise caution. Advice to investors: Wait for a short-term correction, but have a long-term vision. Stay tuned for updates, and trade smart—patience is key in crypto! Share your thoughts in the comments.
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