Overview:
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US spot Bitcoin ETFs attracted USD 137.33 million, led by BlackRock’s IBIT with USD 136.01 million.
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Visa’s annualized stablecoin settlement volume exceeded USD 25 billion, representing tenfold growth.
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Hyperliquid permanently burned 49.87 million HYPE tokens, representing approximately 4.99% of its maximum supply.
The cryptocurrency market experienced several notable developments as spot Bitcoin ETFs pulled in USD 137 million in net inflows, Visa reported a tenfold increase in stablecoin settlements, and Hyperliquid executed a burn of 49.87 million HYPE tokens. Concurrently, Google has made its debut in the digital asset sector by testing Multi-Party Compute (MPC) custody services.
Bitcoin Witnessed USD 137 Million in Inflows
SoSoValue’s data indicates that US spot Bitcoin exchange-traded funds registered a combined net inflow of USD 137.33 million during the previous session. BlackRock’s IBIT captured the largest daily net inflow at USD 136.01 million, bringing its cumulative historical net inflow to USD 66.53 billion.
Bitwise’s BITB followed in second place with a daily net inflow of USD 1.32 million, elevating its total historical net inflow to USD 2.03 billion. Collectively, spot Bitcoin ETFs hold a total net asset value of USD 104.88 billion, reflecting an ETF net asset ratio of 6.41% and a cumulative historical net inflow totaling USD 57.61 billion.
Google Enters Crypto Custody
Google is currently previewing Google Multi-Party Compute (MPC), a security tool engineered to assist banks and other financial entities in protecting and transferring digital currencies and tokenized assets.
The offering is presently in private preview, with commercial launch anticipated in early 2027. Pricing details have not been released by the firm. Although Google withheld the names of participating financial institutions, several design partners are actively evaluating the software.
This initiative positions Google alongside established custody technology vendors such as Fireblocks, Fordefi, and BitGo. The platform leverages multi-party computation (MPC) to mitigate reliance on a single private key by spreading authority among multiple participants or devices.
Also Read: Bitcoin Self-Custody vs Exchange Storage: Key Risks Explained
XRPL Hits Highest Level for the Year
XRP Ledger user engagement has surged to a yearly peak, even as the market price of XRP dips. Unique active network senders climbed to 32,604 on October 27, marking the highest metric recorded since the beginning of 2026 and far surpassing the 30-day moving average of 19.4K.
Throughout much of the past year, daily active addresses hovered between 13K and 20K. Although brief bursts occasionally exceeded 30K, they dissipated rapidly. This latest expansion is both more substantial and sustained than previous upticks, arriving in the wake of a steep contraction in late August and early September when active accounts plummeted to roughly 4K.
Visa Sees 10 Times Stablecoins Settlement Growth
Visa has vaulted past USD 25 billion in annualized stablecoin settlement volume—representing a tenfold expansion compared to the prior year—as the international payments giant scales its blockchain infrastructure across 10 networks and five global regions.
Chief Executive Officer Ryan McInerney shared these metrics during Visa’s fiscal fourth-quarter earnings call on October 27, noting that the network now accommodates five distinct stablecoins for settlement purposes. Furthermore, the firm has scaled its stablecoin-linked card portfolio to span more than 225 programs, encompassing approximately 5 million cards across over 50 nations.
The USD 25 billion figure reflects an annualized run rate derived from current transaction velocity rather than aggregate processing figures for the full 2026 fiscal year. During the call, McInerney stated that Visa’s settlement capabilities now interface with 10 blockchains, more than double the count supported a year prior.
Hyperliquid Burns 49.87 million HYPE Tokens
Hyperliquid has executed a permanent burn of 49.87 million HYPE tokens, valued at approximately USD 3.89 billion at the time of the on-chain snapshot, according to data from Onchain Lens. The analytics provider noted that this destroyed amount constitutes roughly 4.99% of the 1 billion maximum token supply, alongside lifetime protocol revenue of USD 1.38 billion.
This token destruction underscores how the decentralized exchange leverages fee-based mechanisms to curtail the circulating supply of HYPE. Over the preceding 24 hours, approximately 19,700 HYPE valued at roughly USD 1.59 million were burned, against estimated protocol fees of USD 1.69 million.
Also Read: Bitmine Buys 10,452 ETH as Treasury Nears 5% of Total Supply
FAQs:
1. How much money flowed into Bitcoin ETFs on October 28, 2026?
According to SoSoValue, US spot Bitcoin ETFs recorded USD 137.33 million in net inflows, led by BlackRock’s IBIT with USD 136.01 million and Bitwise’s BITB with USD 1.32 million. Total Bitcoin ETF net assets reached approximately USD 104.88 billion, while cumulative historical net inflows stood at USD 57.61 billion.
2. What is Google’s new cryptocurrency custody service?
Google is testing Google Multi-Party Compute (MPC), a security service designed to help financial institutions safeguard and transfer cryptocurrencies and tokenized assets. The service distributes cryptographic control across multiple parties or computers, with commercial availability planned for early 2027.
3. How much has Visa’s stablecoin settlement volume increased?
Visa reported an annualized stablecoin settlement run rate exceeding USD 25 billion, representing approximately tenfold growth from the previous year. The company now supports five stablecoins across 10 blockchain networks and operates more than 225 stablecoin-linked card programs serving approximately 5 million cards.
4. Why did XRP Ledger activity reach its highest level in 2026?
XRP Ledger recorded 32,604 active accounts on October 27, significantly exceeding its 30-day average of approximately 19,400 accounts. The increase indicates stronger network participation, although the available data does not establish a specific cause or guarantee an increase in XRP’s price.
5. How many HYPE tokens did Hyperliquid burn, and what was their value?
According to Onchain Lens, Hyperliquid permanently burned 49.87 million HYPE tokens valued at approximately USD 3.89 billion at the time of the snapshot. The amount represented roughly 4.99% of the token’s maximum supply of 1 billion HYPE, highlighting the protocol’s fee-driven supply reduction mechanism.
