HashKey Daily News Highlights（2025/10/31）
2025-10-31
1. Ethereum developers have officially set the target date for the Fusaka upgrade as December 3rd
PANews reported on October 31st that,“Aaccording to The Block, Ethereum Foundation researchers have officially finalized the mainnet hard fork date two days after launching the final testnet deployment of Fusaka, Ethereum's next major upgrade. During a full-core developer call on Thursday, Ethereum Foundation researchers stated that Fusaka will officially launch on December 3rd. The backward-compatible Fusaka hard fork will implement approximately a dozen Ethereum improvement proposals aimed at enhancing the sustainability, security, and scalability of the base chain and its surrounding Layer 2 ecosystem. Fusaka will introduce PeerDAS technology, providing validators with a more efficient way to access data. PeerDAS was originally planned for inclusion in Ethereum's previous major upgrade, Pectra, in February of this year, but was delayed due to testing needs. Furthermore, Fusaka will increase Ethereum's block gas limit from 30 million units to 150 million units and is expected to quickly double the blob capacity."
2. Standard Chartered: RWA area market value may reach $20 trillion by 2028
BlockBeats News reported on October 30th that, "Standard Chartered Bank released a report stating that as more global capital and payment activities migrate to more efficient blockchain networks, the total value of tokenized real-world assets (RWAs) could reach $20 trillion in the next three years. Currently, the total value of RWAs is approximately $350 billion. If it reaches a $20 trillion market cap, it means a growth of over 57 times in the next three years."
3. Avalon Labs has released the AI RWA Market Whitepaper and introduced the new RWA compliance on-chain standard
BlockBeats News reported on October 30th that, "Avalon Labs announced on its official channel the official release of the first on-chain AI model and computing power leasing market whitepaper, and proposed a brand-new AI-Model-as-a-Service (AI-MaaS) software service concept. The team revealed that the first AI model to go live was jointly released by Avalon Labs and an AI partner, and is the industry's first reinforcement learning model, built on the Nvidia H200 GPU, and independently held by the Avalon Labs team.
At the same time, Avalon Labs unveiled a brand-new RWA compliance on-chain framework—the Commercial Rights Tokenization (CRT). Tokens issued under this standard have legal effect and can grant holders legal rights to relevant commercial assets or services, with the potential to change the on-chain model of real-world assets."
4. JPMorgan Chase: USDC outperforms USDT in on-chain activity and market capitalization growth
PANews reported on October 31st, "Citing The Block, that JPMorgan analysts stated that Circle's stablecoin USDC has surpassed Tether's USDT in on-chain activity and market capitalization growth, driven by a clearer regulatory framework and increased institutional adoption. USDC's market capitalization has risen from approximately $43 billion in January to approximately $74 billion today, an increase of 72%, far exceeding USDT's 32% growth rate during the same period. This reflects a market shift towards stablecoins that prioritize transparency. USDC's transparent reserve management and regular audits have earned it institutional trust, and its adherence to frameworks such as the Crypto Asset Markets Regulation (MiCA) has made it a preferred stablecoin for financial institutions. The MiCA regulations, which will take effect in July 2024, have accelerated the divergence in the velocity of circulation between the two stablecoins. USDC's velocity of circulation and on-chain activity have increased, further boosted by the Genius Act. USDT, lacking MiCA authorization, has been delisted, while USDC's growth is driven by its increased integration with payment networks, its presence on chains like Solana, and cross-chain transfer protocols. The emerging competition is likely to be a zero-sum game; unless the entire crypto market expands significantly, US stablecoin issuers will primarily be vying for market share."
5. Ministry of Commerce: China and the United States to simultaneously suspend some tariffs and control measures for one year
BlockBeats News reported on October 30th that, "A spokesperson for the Ministry of Commerce responded to questions on the China-U.S. Kuala Lumpur Economic and Trade Consultations Arrangement. The spokesperson stated: The U.S. will lift the 10% so-called "Fentanyl Tariffs" on Chinese goods (including those from the Hong Kong Special Administrative Region and the Macao Special Administrative Region), and the 24% retaliatory tariffs on Chinese goods (including those from the Hong Kong Special Administrative Region and the Macao Special Administrative Region) will continue to be suspended for another year. China will adjust its retaliatory measures against the aforementioned U.S. tariffs accordingly. Both sides agreed to extend certain tariff exclusion measures.
The U.S. will postpone the implementation of its September 29th announced 50% "De Minimis Rule" for export controls by one year. China will postpone the implementation of related export control measures announced on October 9th for one year and will explore detailed plans. The U.S. will postpone the implementation of its Section 301 investigation measures on China's maritime, logistics, and shipbuilding industries for one year. After the U.S. suspends its relevant measures, China will also reciprocally suspend its retaliatory measures against the U.S. for one year. "
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