💸 $BNB King HODLs (almost) Empty Bags

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Over $1B just got liquidated in the past 24h 😵 $BTC.X ( ▼ 0.85% ) longs made up like 42% of it. Even though the Fed cut rates, the market's still red as hell…

Because BOJ and ECB didn’t follow. They held rates, while most other banks cut!? Another painful twist for us who thought “Fed pivot = market rally,” but reality had other plans…

Here’s what we got for you today:

• 👀 How smart traders read the market, part 1

• ⭐ Junk(.)fun turns dead memecoins into $75K+

• ⭐ MegaETH ICO with over $1.18B in 3 days

• 🔥 Burning hot takes for the road

At this point, maybe you feel like the market’s just messing with you, right? Big pump. You buy. It dumps. Again.

Actually, it’s not bad luck, you’re just not seeing what smart traders see. Thing is, chart patterns are the market’s way of thinking out loud. In Part 1, I’ll show you how to read them like a pro:

And now we’re turning it up even more: Every Crypto Foundations post will now come with bonus cheatsheets.

From tokenomics to L1 vs L2 breakdowns, and key terms you actually need to know. Here’re today’s list:

• Moonshot Hunting Guide: Part 1 & Part 2 & Part 3

• Ultimate Guide to Crypto Airdrop Farming in 2025: Part 1 & Part 2

🤩 JUNK(.)FUN TURNS DEAD COINS INTO $75K+!

You can now turn dead memecoins into iPhones, $SOL.X ( ▼ 4.85% ) , and airdrops?!

That’s exactly what Bonk just launched with their wild new platform: Junk.Fun, a “recycle center” for rug-pulled, worthless tokens on Solana.

The idea is to give all the failed memecoins a second life... and turn trash into treasure. Backed by Bonk and Manta Network, Junk Fun lets you burn useless tokens and get reward points. Then, you can use those points to:

• Enter raffles for SOL, NFTs, physical prizes (yes, like iPhones)

• Open mystery chests with random rewards

• Qualify for future airdrops

• Climb the leaderboard and win even more

In the first 2 days, Junk Fun already pulled in 20,000+ users. They kicked things off with a $75,000 reward pool, funded by burn fees and Bonk + Manta support.

The mechanics are clever: When you burn a memecoin, Solana refunds a little rent fee (~0.002 SOL per token).

→ Junk Fun takes that, subtracts a 2.3% fee, converts it to reward points, and pushes the rest back into the weekly prize pool.

Each “season” lasts 1 week, and the prize pool is distributed at the end. Season 1 is already sitting around $40,000+.

Users who lock in early get referral links and bonus point multipliers, and the more people that burn, the bigger the pool grows.

Not just that, they even gamified it:

• Weekly raffles for top recyclers

• Mystery chests that randomly drop SOL or bonus entries

• Leaderboards to compete and flex

• Exclusive invite-only phase to start (now open to everyone)

And yeah, over 3,000 SOL has already been distributed. Right now, the reward pool’s sitting at $7,000+ and growing.

Honestly, I think this is genius. They solved a problem everyone ignored: Solana’s flooded with dead tokens that kill vibes.

Instead of letting that mess rot, they turned it into a game. If you're holding random meme dust, now's the time to clean it up and earn something real, even an iPhone!?

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😵 MEGAETH WITH $1.39B INSANE DEMAND

This might be one of the wildest ICOs we’ve seen in a while. It’s backed by Vitalik and Joe Lubin.

MegaETH launched its public token sale on Oct 27 through Sonar, a platform Coinbase scooped up for $375M. In just a few hours, the hype was unreal. The original fundraising target crushed 20× over!!!

A few numbers to show how crazy this got:

• 500M $MEGA.X ( ▼ 5.68% ) tokens (5% of total 10B supply) were up for grabs

• The auction style was English-style bidding, putting the FDV close to $1B initially, and now up to ~$7B

• 819 wallets committed max bid in the first 2 hours

• 14,491+ investors total. Some reports say 46,000+ have now joined

• Only 5.8% of them (2,686 people) chose to lock tokens for a year, even though locking gives a 10% discount

You could join with as little as $2.6K. But American users had to lock tokens for 1 year, it’s a legal requirement.

The sale ends in 1 day. Token results come out next week. If you didn’t get in, you’ll get refunded by Nov 5

What’s MegaETH even building?

→ It’s a real-time, super high-speed L2 that can hit 100K transactions per second with latency under 1 millisecond.

The team claims it delivers Web2-level performance without breaking Ethereum compatibility.

And while the ICO was blowing past targets, Sybil attacks started surfacing. Bubblemaps, the on-chain sleuths, revealed that:

• At least 20 entities used multiple wallets to bypass the bid cap

• Example: Wallet 0x9f5c split funds from Kraken into 3 other wallets, collectively committing ~$600K

• Another wallet, 0x5D8, funded 159 new wallets in Feb, many of which showed up in the auction, each bidding max cap

• One individual used 26 linked wallets to commit over $5M, 26× the allowed allocation

Even though the auction aimed to balance fairness and price discovery, whales still gamed the system.

This Sybil drama is casting a shadow on what could’ve been a textbook example of community-driven fundraising.

And yet, investor appetite is still sky-high. Only 5% of total supply was sold in this round, but the implied valuation is already around $7B.

Still, we must say that too much FOMO this early could lead to a blow-off top once it hits exchanges!!

You remember Plasma ($XPL.X ( ▼ 4.11% ) )? It dropped from $1.67 → $0.34 in weeks because everyone dumped at launch.

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🔥 BURNING HOT TAKES FOR THE ROAD

Sam Bankman-Fried’s dropped a 14-page report denying all fraud charges & claiming FTX was never bankrupt. Read the report

Telegram founder is back with a network where GPU owners can earn $TON.X ( ▼ 2.62% ) by processing AI tasks. Read more

Today marks 17 years since the Bitcoin whitepaper. But Satoshi’s wallet just lost over $5 billion, according to Arkham. Read more

According to Yzi Labs, CZ only holds <1% of all $BNB.X ( ▲ 0.04% ) out of the major groups. Hard to believe, right? Read more

dYdX is planning to go straight into the U.S. market before the end of 2025, with a focus on spot trading. Read more

🤡 SPICY MEME

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⚠ This newsletter is for informational purposes only and should not be considered investment advice. Traders should conduct thorough research, understand the risks, and carefully evaluate their decisions before investing in cryptocurrency.