Japanese Banking Giants Enter Stablecoins, Challenge USDT and USDC Dominance

Three of Japan’s largest banks, Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho, are launching stablecoins pegged to the Japanese yen and US dollar to challenge USDT and USDC dominance, with plans to issue 1 trillion yen worth ($6.64 billion) over three years as Japan’s crypto adoption doubled 120% year-over-year.
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Altcoin Season Index Near 25 With Red Screens: Reading October Market Collapse

Altcoin season has faced pressure with the index at 25 as Bitcoin has slipped. BNB has fallen on higher volume and negative funding; Sui and Solana have reset as activity has rotated. Traders have looked for calmer funding, tighter spreads, and a hold above VWAP until volatility has cooled.
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