Limitless's native token LMTS fell over 58% on October 22, hours after its token generation event. On-chain data show a team-controlled wallet sold $1.4M worth of tokens, triggering a price collapse from $0.35 to $0.20. The project's founder attributed the activity to an on-chain market-maker strategy using concentrated liquidity on Aerodrome.

Hyperliquid's HYPE token rose 7.25% to $37.24 over 24 hours while Bitcoin fell 2.07% for the week to $108,848.27. Nasdaq-listed Sonnet BioTherapeutics completed an $888 million reverse merger with Rorschach I LLC on October 22, creating Hyperliquid Strategies Inc. The new entity holds approximately $583 million in HYPE tokens and plans to raise $1 billion through a 160-million-share offering to fund additional token acquisitions.

Hyperliquid Strategies filed an S-1 registration statement with the SEC on Wednesday to raise up to $1 billion through a 160 million share offering. The company, formed from the merger of Nasdaq-listed Sonnet BioTherapeutics and Rorschach I LLC, plans to use proceeds for additional HYPE token purchases and corporate expenses. Upon completion, the entity will hold 12.6 million HYPE tokens valued at approximately $470 million, positioning it as the largest corporate holder of the token.

Hyperliquid Strategies filed an S-1 registration with the U.S. Securities and Exchange Commission on Wednesday to raise up to $1 billion through a public stock offering. The digital asset treasury company plans to use proceeds to acquire HYPE tokens and expand its holdings in the Hyperliquid ecosystem. Chardan Capital Markets will advise on the transaction.

XRP declined more than 2.5% over the past 24 hours to trade around $2.1842, erasing most of its early-week gains. Ripple CTO David Schwartz clarified that his advisory role with Evernorth, a newly launched XRP treasury firm planning to raise over $1 billion through a Nasdaq listing, will be limited in scope and duration.

Major cryptocurrency holders accumulated approximately 13 million Chainlink (LINK) tokens over the past week, data show. Decentralized fixed-income platform Treehouse integrated Chainlink's Cross-Chain Interoperability Protocol (CCIP) to enable asset transfers across multiple blockchain networks. LINK traded at $17.45 with a 24-hour volume of $1.2 billion at the time of reporting.

Ethereum traded near $3,800 on October 22, down nearly 18% from above $4,700 in early October. Technical indicators showed 19 of 30 signals in sell territory, with the Fear & Greed Index at 25 (Extreme Fear). The RSI at 41.62 suggested the selloff may be nearing exhaustion.

Hong Kong's Securities and Futures Commission has approved the region's first Solana spot ETF, to be issued by ChinaAMC. The product will begin trading on October 27 under ticker 3460, making Solana the third digital asset after Bitcoin and Ethereum to receive ETF approval in Asia. The fund will charge a 0.99% annual management fee and will be denominated in Hong Kong dollars, Chinese yuan, and U.S. dollars.