Uncommonlab Weekly Alpha compiles and shares the latest emerging crypto alpha insights every week.

• On October 11, 2025, U.S. President Trump posted on Truth Social announcing a 100% tariff on Chinese imports in response to China’s rare earth export restrictions.

• Following the announcement, crypto prices began to plunge sharply, with some tokens like IOTX and ATOM crashing to nearly zero on Binance.

• This led to a cascade of DeFi liquidations, resulting in $19 billion in total liquidations, surpassing even the scale of the FTX collapse.

• It was the largest liquidation event in crypto history, and Binance alone suffered around $1 billion in losses due to the depegging of USDe, wBETH, and BnSOL, prompting the exchange to deploy its emergency insurance fund.

[Comments] U.S. President Trump announced a 100% tariff on Chinese imports in response to China’s rare earth export restrictions. This immediately impacted the crypto market, causing a sudden and sharp drop in many coin prices, with some crashing to near zero. The plunge triggered a cascade of liquidations, resulting in $19 billion in total liquidations—the largest in crypto history and exceeding the scale of the FTX collapse. In particular, Binance suffered significant losses due to the depegging of USDe, wBETH, and BnSOL, prompting the exchange to deploy its insurance fund.

• BNB price surged past $1,300, reaching a new all-time high.

• Transaction fees on the BNB Chain were cut by half, creating an ideal environment for high-frequency meme trading.

• Binance founder CZ posted “BNB meme szn” on Twitter, which served as a catalyst for a surge in meme coin activity on the BNB Chain.

• Similar to Solana’s Pumpfun, the FourMeme platform made it easy for anyone to launch their own meme tokens, significantly lowering the technical barriers to entry.

[Comments] As BNB’s price broke its all-time high, liquidity began flowing into the BNB ecosystem. The spark came from Binance founder CZ, who posted “BNB meme szn” on his Twitter, triggering a broad rally in BNB Chain meme coins and marking the real start of an active meme trading season on the chain. If BNB’s price remains strong and Binance continues to actively support the listing of BNB Chain meme tokens, this meme season is expected to continue for some time. However, meme tokens are highly volatile, and trends can shift quickly, so traders should be aware of the risks involved.

• In 2023, Binance acquired a 67% stake in Korean crypto exchange GOPAX as part of its strategy to enter the South Korean market.

• However, the deal had been put on hold after Binance was sued by the U.S. Securities and Exchange Commission (SEC) and charged by the U.S. Department of Justice for violations of anti-money laundering regulations, resulting in a $4.3 billion fine.

• Additionally, Korean authorities had delayed approving the executive change report due to concerns that the acquisition could affect the country’s anti-money laundering framework.

• Now that Binance’s legal issues with the U.S. have been resolved and it has met local regulatory standards, the Korea Financial Intelligence Unit (FIU) has officially approved the executive change application, giving final approval for Binance’s acquisition of GOPAX.

[Comments] With Binance’s successful acquisition of Korean exchange Gopax, the company is officially entering the Korean market in full force. Although the acquisition took an unusually long two years to complete, the entry of the world’s largest exchange into Korea through legal and regulatory approval is expected to bring significant changes to the market. Currently, Upbit and Bithumb dominate the Korean exchange market, but Binance is likely to attract users through Gopax by offering better incentives and benefits than existing platforms. For users, this increased competition among exchanges will naturally lead to advantages such as lower trading fees and other promotional benefits, making it a welcome development.

• Momentum, a leading DEX on the SUI network, is planning a token sale for its native token MMT through the Buidlpad launchpad platform.

• The MMT token sale valuation depends on participation conditions:
  Condition 1: Users holding at least $3,000 worth of LP tokens on Momentum can participate at an FDV of $250 million.
  Condition 2: Users who have not provided LP tokens but have completed Buidlpad registration and KYC can participate at a higher FDV of $350 million.

• Momentum’s sudden surge in popularity comes from Buidlpad’s track record: it has previously conducted token sales for Solayer, SaharaAI, Lombard, and Falcon, all of which successfully listed on major exchanges like Binance and Upbit immediately at TGE.

• Because all four previous projects achieved strong financial results, expectations for Momentum are naturally rising among investors and the community.

[Comments] Buidlpad will begin the Momentum token sale on October 22. While some believe that Momentum’s token sale valuation is too high, previous projects on Buidlpad had similar valuations and all successfully listed on Binance and Upbit immediately at TGE four times in a row, making active participation in Momentum a reasonable choice. The amount of liquidity you provide to Momentum determines your participation limit in the Buidlpad sale. The safest LP option is the suiUSDT-USDC Pool; by adding a sufficient amount of liquidity before the snapshot on October 27, you can secure a larger token allocation than others. Since all previous projects conducted through Buidlpad have shown strong performance, it is recommended to participate as much as possible until a failing project emerges, although it’s unclear how long this trend will continue.

• After being acquired by Yuga Labs, Moonbird remained largely inactive, trading at a low price of around 0.4 ETH for roughly a year starting January 2024.

• However, on May 30, 2025, the Moonbird IP was sold to Orange Cap Games, the company that launched the Vibes TCG game on Pudgy Penguins and generated over $1.5 million in revenue, which caused Moonbird prices to start rising again.

• The reason Moonbird’s price quadrupled in a short period was largely due to Spencer, the founder of Orange Cap Games, who is a well-known NFT trader. His involvement indirectly signaled the upcoming token launch, generating strong anticipation for Moonbird.

• Finally, on October 2, the official Moonbird account announced that it would launch its native token BIRB on the Solana chain, which drove the NFT price up to 4 ETH.

[Comments] Moonbird has officially announced the launch of its native token. This is the first NFT-based token launch in a while since Doodle. For Moonbird, with a total of 9,999 NFTs and a floor price of 2.85 ETH, the market capitalization translates to roughly $120 million. Looking at previous NFT-based token launches like Pudgy and Anime, the NFT allocation was around 30% of the total token supply. If Moonbird follows a similar tokenomics model, the estimated FDV would be around $400 million, which is relatively high. The success of the launch will likely depend heavily on whether it can list on tier-1 exchanges such as Binance or Upbit. If it fails to secure tier-1 listings, similar to Doodle’s listing, there will be insufficient liquidity to absorb selling pressure, making it difficult to defend the token price. With Moonbird NFTs now priced over $12,000 each, the safest way to acquire tokens with minimal risk is through Kaito Yapping. However, caution is advised, as none of the NFT-related projects onboarded through Kaito have performed well so far.

• Monad is an L1 blockchain aiming to achieve 10,000 TPS through parallel EVM execution.

• The project has been preparing its mainnet for over three years and has raised $244 million from well-known VCs such as Paradigm and Electric Capital.

• Recently, following the Monad mainnet and token TGE announcement, MON token trading has been supported on Hyperliquid and Binance Pre-Market.

• On October 14, Monad also launched a checker tool to allow users to see whether they are eligible to receive the airdrop, although the exact airdrop amounts are not yet disclosed.

[Comments] The airdrop checker for Monad, one of the most anticipated L1 projects of the year, has been released. With the mainnet launch approaching, the team plans to distribute tokens to 5,500 Monad community members and 225,000 members of the broader crypto community. The Monad team appears to have deliberately set a wide eligibility range for the MON token airdrop. Even individuals who previously had no interest in Monad are likely to take notice if they receive an airdrop, which seems to be a strategic move to attract real ecosystem participants. The exact airdrop amounts are scheduled to be announced on November 3, with the mainnet launch and MON token TGE expected around the same time.

• The Base-chain social platform Farcaster has launched a USDC deposit bonus event on the BASE chain.

• Users who deposit USDC for 10 weeks, earning 1% interest per week, can accumulate a total of 10% interest.

• Each participant can receive up to $500 in rewards, so depositing $5,000 maximizes efficiency.

• Farcaster has raised $180 million from VCs including Paradigm and A16Z, so barring any hacks, the platform has sufficient capacity to pay out rewards reliably.

[Comments] The Farcaster USDC deposit bonus event, which offered an additional 10% reward, ended just one day after it started. While the exact reason for running this event is unclear, participating allowed users to earn stable rewards through USDC and potentially become eligible for a future Farcaster airdrop. It’s important to note that, regardless of how much USDC is deposited, the maximum reward per person was capped at $500, so depositing $5,000 was the most efficient approach. The event is currently closed, but if any new announcements regarding similar events are made in the future, it’s recommended to participate as quickly as possible.

• Aztec is a ZK-Rollup L2 that provides privacy using zero-knowledge proofs.

• The project has raised $119.1 million from top-tier VCs including A16Z, Paradigm, and Consensys.

• The testnet is currently live, and users can prove they are human via ZKPassport and run a Validator to earn a special Discord role.

• Running a Validator requires KYC, the technical entry barrier is high, and the number of participants is limited. Because of this and the exclusive Discord role reward, the incentive is expected to be meaningful.

[Comments] Although Aztec is an L2, it aligns well with the current privacy-focused metaverse trend and has received significant investment, so its token is expected to perform well once launched. Currently, Aztec is running its own testnet, but simply executing transactions is unlikely to qualify users for a potential future token airdrop. However, running a Validator, which has a high technical barrier and is not widely done, could be recognized as a meaningful contribution, potentially making participants eligible for a token airdrop when the mainnet launches.

Uncommonlab Weekly Alpha compiles and shares the latest emerging crypto alpha insights every week.

• On October 11, 2025, U.S. President Trump posted on Truth Social announcing a 100% tariff on Chinese imports in response to China’s rare earth export restrictions.

• Following the announcement, crypto prices began to plunge sharply, with some tokens like IOTX and ATOM crashing to nearly zero on Binance.

• This led to a cascade of DeFi liquidations, resulting in $19 billion in total liquidations, surpassing even the scale of the FTX collapse.

• It was the largest liquidation event in crypto history, and Binance alone suffered around $1 billion in losses due to the depegging of USDe, wBETH, and BnSOL, prompting the exchange to deploy its emergency insurance fund.

[Comments] U.S. President Trump announced a 100% tariff on Chinese imports in response to China’s rare earth export restrictions. This immediately impacted the crypto market, causing a sudden and sharp drop in many coin prices, with some crashing to near zero. The plunge triggered a cascade of liquidations, resulting in $19 billion in total liquidations—the largest in crypto history and exceeding the scale of the FTX collapse. In particular, Binance suffered significant losses due to the depegging of USDe, wBETH, and BnSOL, prompting the exchange to deploy its insurance fund.

• BNB price surged past $1,300, reaching a new all-time high.

• Transaction fees on the BNB Chain were cut by half, creating an ideal environment for high-frequency meme trading.

• Binance founder CZ posted “BNB meme szn” on Twitter, which served as a catalyst for a surge in meme coin activity on the BNB Chain.

• Similar to Solana’s Pumpfun, the FourMeme platform made it easy for anyone to launch their own meme tokens, significantly lowering the technical barriers to entry.

[Comments] As BNB’s price broke its all-time high, liquidity began flowing into the BNB ecosystem. The spark came from Binance founder CZ, who posted “BNB meme szn” on his Twitter, triggering a broad rally in BNB Chain meme coins and marking the real start of an active meme trading season on the chain. If BNB’s price remains strong and Binance continues to actively support the listing of BNB Chain meme tokens, this meme season is expected to continue for some time. However, meme tokens are highly volatile, and trends can shift quickly, so traders should be aware of the risks involved.

• In 2023, Binance acquired a 67% stake in Korean crypto exchange GOPAX as part of its strategy to enter the South Korean market.

• However, the deal had been put on hold after Binance was sued by the U.S. Securities and Exchange Commission (SEC) and charged by the U.S. Department of Justice for violations of anti-money laundering regulations, resulting in a $4.3 billion fine.

• Additionally, Korean authorities had delayed approving the executive change report due to concerns that the acquisition could affect the country’s anti-money laundering framework.

• Now that Binance’s legal issues with the U.S. have been resolved and it has met local regulatory standards, the Korea Financial Intelligence Unit (FIU) has officially approved the executive change application, giving final approval for Binance’s acquisition of GOPAX.

[Comments] With Binance’s successful acquisition of Korean exchange Gopax, the company is officially entering the Korean market in full force. Although the acquisition took an unusually long two years to complete, the entry of the world’s largest exchange into Korea through legal and regulatory approval is expected to bring significant changes to the market. Currently, Upbit and Bithumb dominate the Korean exchange market, but Binance is likely to attract users through Gopax by offering better incentives and benefits than existing platforms. For users, this increased competition among exchanges will naturally lead to advantages such as lower trading fees and other promotional benefits, making it a welcome development.

• Momentum, a leading DEX on the SUI network, is planning a token sale for its native token MMT through the Buidlpad launchpad platform.

• The MMT token sale valuation depends on participation conditions:
  Condition 1: Users holding at least $3,000 worth of LP tokens on Momentum can participate at an FDV of $250 million.
  Condition 2: Users who have not provided LP tokens but have completed Buidlpad registration and KYC can participate at a higher FDV of $350 million.

• Momentum’s sudden surge in popularity comes from Buidlpad’s track record: it has previously conducted token sales for Solayer, SaharaAI, Lombard, and Falcon, all of which successfully listed on major exchanges like Binance and Upbit immediately at TGE.

• Because all four previous projects achieved strong financial results, expectations for Momentum are naturally rising among investors and the community.

[Comments] Buidlpad will begin the Momentum token sale on October 22. While some believe that Momentum’s token sale valuation is too high, previous projects on Buidlpad had similar valuations and all successfully listed on Binance and Upbit immediately at TGE four times in a row, making active participation in Momentum a reasonable choice. The amount of liquidity you provide to Momentum determines your participation limit in the Buidlpad sale. The safest LP option is the suiUSDT-USDC Pool; by adding a sufficient amount of liquidity before the snapshot on October 27, you can secure a larger token allocation than others. Since all previous projects conducted through Buidlpad have shown strong performance, it is recommended to participate as much as possible until a failing project emerges, although it’s unclear how long this trend will continue.

• After being acquired by Yuga Labs, Moonbird remained largely inactive, trading at a low price of around 0.4 ETH for roughly a year starting January 2024.

• However, on May 30, 2025, the Moonbird IP was sold to Orange Cap Games, the company that launched the Vibes TCG game on Pudgy Penguins and generated over $1.5 million in revenue, which caused Moonbird prices to start rising again.

• The reason Moonbird’s price quadrupled in a short period was largely due to Spencer, the founder of Orange Cap Games, who is a well-known NFT trader. His involvement indirectly signaled the upcoming token launch, generating strong anticipation for Moonbird.

• Finally, on October 2, the official Moonbird account announced that it would launch its native token BIRB on the Solana chain, which drove the NFT price up to 4 ETH.

[Comments] Moonbird has officially announced the launch of its native token. This is the first NFT-based token launch in a while since Doodle. For Moonbird, with a total of 9,999 NFTs and a floor price of 2.85 ETH, the market capitalization translates to roughly $120 million. Looking at previous NFT-based token launches like Pudgy and Anime, the NFT allocation was around 30% of the total token supply. If Moonbird follows a similar tokenomics model, the estimated FDV would be around $400 million, which is relatively high. The success of the launch will likely depend heavily on whether it can list on tier-1 exchanges such as Binance or Upbit. If it fails to secure tier-1 listings, similar to Doodle’s listing, there will be insufficient liquidity to absorb selling pressure, making it difficult to defend the token price. With Moonbird NFTs now priced over $12,000 each, the safest way to acquire tokens with minimal risk is through Kaito Yapping. However, caution is advised, as none of the NFT-related projects onboarded through Kaito have performed well so far.

• Monad is an L1 blockchain aiming to achieve 10,000 TPS through parallel EVM execution.

• The project has been preparing its mainnet for over three years and has raised $244 million from well-known VCs such as Paradigm and Electric Capital.

• Recently, following the Monad mainnet and token TGE announcement, MON token trading has been supported on Hyperliquid and Binance Pre-Market.

• On October 14, Monad also launched a checker tool to allow users to see whether they are eligible to receive the airdrop, although the exact airdrop amounts are not yet disclosed.

[Comments] The airdrop checker for Monad, one of the most anticipated L1 projects of the year, has been released. With the mainnet launch approaching, the team plans to distribute tokens to 5,500 Monad community members and 225,000 members of the broader crypto community. The Monad team appears to have deliberately set a wide eligibility range for the MON token airdrop. Even individuals who previously had no interest in Monad are likely to take notice if they receive an airdrop, which seems to be a strategic move to attract real ecosystem participants. The exact airdrop amounts are scheduled to be announced on November 3, with the mainnet launch and MON token TGE expected around the same time.

• The Base-chain social platform Farcaster has launched a USDC deposit bonus event on the BASE chain.

• Users who deposit USDC for 10 weeks, earning 1% interest per week, can accumulate a total of 10% interest.

• Each participant can receive up to $500 in rewards, so depositing $5,000 maximizes efficiency.

• Farcaster has raised $180 million from VCs including Paradigm and A16Z, so barring any hacks, the platform has sufficient capacity to pay out rewards reliably.

[Comments] The Farcaster USDC deposit bonus event, which offered an additional 10% reward, ended just one day after it started. While the exact reason for running this event is unclear, participating allowed users to earn stable rewards through USDC and potentially become eligible for a future Farcaster airdrop. It’s important to note that, regardless of how much USDC is deposited, the maximum reward per person was capped at $500, so depositing $5,000 was the most efficient approach. The event is currently closed, but if any new announcements regarding similar events are made in the future, it’s recommended to participate as quickly as possible.

• Aztec is a ZK-Rollup L2 that provides privacy using zero-knowledge proofs.

• The project has raised $119.1 million from top-tier VCs including A16Z, Paradigm, and Consensys.

• The testnet is currently live, and users can prove they are human via ZKPassport and run a Validator to earn a special Discord role.

• Running a Validator requires KYC, the technical entry barrier is high, and the number of participants is limited. Because of this and the exclusive Discord role reward, the incentive is expected to be meaningful.

[Comments] Although Aztec is an L2, it aligns well with the current privacy-focused metaverse trend and has received significant investment, so its token is expected to perform well once launched. Currently, Aztec is running its own testnet, but simply executing transactions is unlikely to qualify users for a potential future token airdrop. However, running a Validator, which has a high technical barrier and is not widely done, could be recognized as a meaningful contribution, potentially making participants eligible for a token airdrop when the mainnet launches.