Good morning. Uptober isn’t disappointing so far with Bitcoin just inches away from a new all-time high. Let’s talk about what’s driving the bullish momentum right now.
All of that, plus your…
- Chart of the Day. Stablecoin market cap hits new ATH.
- Trade of the Day. Aster has broken out – next price targets explained.
- Degen Play of the Day. Another Bitcoin stock for the portfolio.
Chart of the Day
Whilst investors are busy waiting for Bitcoin’s price to hit a new all-time high, something even bigger is happening elsewhere.
The stablecoin market cap has hit a new all-time high of over $300 billion. It currently stands at $302 billion as of October 4th, with Tether’s USDT leading the way with $176.72 billion and Circle’s USDC following behind in second place with $75.16 billion.
Outside of these two market leaders, it’s Ethena’s USDe that’s seen the biggest increase in market share, growing over 150% from around $6 billion in January to nearly $15 billion by October.
But what’s also noteworthy is the 47% year-to-date growth in a bull market where crypto prices are still going up. That doesn’t sound like the top is anywhere close to being in. Instead, this highlights that fresh liquidity continues to move from elsewhere into the crypto market.
If this year’s growth is going to match last year’s growth of 58%, the stablecoin sector would need around another $23 billion by year-end, which analysts believe is doable and on track.
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Trade of the Day
ASTER is defying the broader market consolidation and is breaking out of its bull flag pattern. With this move, it’s targeting a new all-time high which currently stands at $2.44, after hitting it on September 25th.
This bullish breakout comes after a whale bought 2.74 million ASTER tokens for around $5 million. If whale accumulation continues, this could be the catalyst for reaching new highs.
The first potential target sits at $2.40, which is a key resistance zone. At the time of writing, ASTER is already moving up and is sitting at around $2.05. If it can flip that $2.40 level into support a new ATH becomes imminent. Beyond that, the next Fibonacci target zone is around $2.96.
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Alpha Leak
- Cronos [CRO] has been boosted by the news that Cryptocom has partnered with Solana treasury company SOL Strategies and partnered with the UAE to launch AED cash accounts for faster fiat transfers. Cryptocom also plans to integrate Morpho, allowing users to borrow wrapped crypto tokens and earn stablecoin yield. More users and more trading activity means more CRO adoption.
- Plasma [XPL] already has over $5.5 billion in stablecoin supply just one week after launch and now it’s integrated with Chainlink’s CCIP, Data Streams, Data Feeds and Scale Program which is bullish for future adoption.
- Ripple [XRP] is back above the psychological $3 level after the 3-day RSI has flashed a golden cross. This signals a 30-40% rally could come next, taking the price to $3.98–$4.32.
- DoubleZero [2Z] crashed over 40% after backlash over its tokenomics model. Its token unlocks schedule and large insider allocations are massive red flags. This is not a “big the dip” opportunity.
- Pumpfun [PUMP] is teasing the launch of Initial Pump Offerings (IPOs) for exclusive projects built on its Devfun platform. If Pumpfun can finally make Devfun happen, then holy cow PUMP is going way higher.
If alpha is what you’re looking for, make sure to read this week’s report on Plasma. Is it the Stablecoin Superchain we’ve been waiting on, or another letdown waiting to happen?
News Roundup
Bitcoin ATH Incoming
Uptober has kicked off with a bang. JPMorgan of all institutions said this week that BTC is undervalued compared to gold and gave it a $165K price target. BTC is already inches away from retesting the current all-time high of $124K.
Here’s what’s driving the bullish momentum:
ETF Inflows
It’s been an incredibly bullish week for the spot Bitcoin ETF collective in the US with $3.24 billion in inflows, making this the second-best week on record.
Wednesday saw the biggest inflows since September 12th of $675.8 million, only to see Friday follow up with even bigger inflows topping $985.1 million.
Exchange volume low
Almost 170,000 BTC were removed from exchanges in the last 30 days, sending levels to a 5-year low. It’s only a matter of time before the FOMO kicks in.
Bitcoin miners almost doubled in value
The total market cap of the 14 US-listed Bitcoin miners tracked by JPMorgan surpassed $50 billion for the first time ever last month, hitting $56 billion. That’s a 43% month-on-month increase.
Even though Bitcoin miners like IREN seem to have decoupled from BTC’s price after expanding into the AI/HPC market, don’t forget that miners tend to rally first, before Bitcoin follows.
It’s BNB Season!
BNB hit a new all-time of $1,111.90 on Friday after rising over 7% in 24 hours and over 17% in 7 days. This means its closing in on Standard Chartered’s price prediction it made back in May of $1,275 in 2025.
So what’s behind the sudden surge?
- The viral “4” memecoin: BNB Chain’s X account was hacked on October 1st and saw the attacker steal around $8K via phishing links. They used the funds to pump a memecoin called “4” inspired by CZ’s 4-month jail time. The community then pumped the token 400%, adding $110M+ in BSC trading volume in a single day, spiking gas fees and demand for BNB.
- Aster’s growing momentum: Aster has helped BNB Chain generate record network fees, overtaking Solana on September 28th.
- On-chain metrics rising: BNB Chain’s total value locked (TVL) has increased to $8.23 billion this week whilst active addresses jumped to 73.24 million in September, reaching their highest ever level.
BNB season can only mean one thing: bullish news for PancakeSwap. CAKE is up by 23% in 24 hours and is at its highest level in 3 months because it’s sucking in around 25% of the entire ecosystem’s TVL.
CZ is back and it’s clear from his shill posts on X that he wants this ecosystem to fly!
Samsung Pay Comes To Coinbase US
Coinbase has partnered with Samsung to bring its 75 million Samsung Galaxy users within the US into the world of crypto.
Access to Coinbase’s membership Coinbase One will be free for Galaxy users for 3 months, which includes:
- zero trading fees on select assets
- boosted staking rewards
- $25 in free credit after placing the first trade
Not only this, but Samsung Pay is now live for Coinbase users in the US, providing users with another on-ramp into crypto trading.
Coinbase will expand this partnership in the coming months to more of Samsung Galaxy’s one billion global users.
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Degen Play of the Day
Bakkt [BKKT] has had an incredible 390% stock market rally in the month from $10 on September 11th to $49 on October 2nd. But this may only be the beginning for the crypto company. After a board shake-up and the announcement of the sale of its loyalty rewards business, Bakkt is going all-in on becoming a digital asset infrastructure company.
Bakkt’s big vision is to build the backbone for the next era of global banking. This includes integrating AI agents with stablecoin payment infrastructure. If it can execute on this big vision, then watch out for Bakkt one-day reclaiming its all-time high of $1,267 that it hit in November 2021. For now though, the initial price targets are $100-$200.
Final Notes
Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.
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See you next time!
Lark and the Wealth Mastery Team
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Wealth Mastery (Lark Davis, and the Wealth Mastery writing team) are not providing you individually tailored investment advice. Nor is Wealth Mastery registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. Wealth Mastery is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.
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Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
