Bitcoin led a broader crypto selloff on October 7, and its market capitalization fell by more than $70 billion over the past 24 hours. Despite the drop, on-chain data show bitcoin’s net exchange supply declined as net outflows hit a seven-month high. Addresses holding 10 to 10,000 BTC added 86,702 BTC over the past three weeks, while wallets with less than 0.01 BTC have continued selling.

ADA’s market capitalization has risen 42% since September 16, with the token climbing from around $0.19 to approximately $0.27, according to Santiment data. Whale transfers exceeding $100,000 reached 413 in a single day, the highest level since June. Cardano also rolled out its CIP-0113 programmable token standard on mainnet, marking a major infrastructure upgrade.

Marvell said it now expects $12 billion in custom AI chip revenue by fiscal 2029. The company said its partnership with Google could generate up to $120 billion through 2033. The updated outlook points to sustained demand for data-center AI chips.

Armada Acquisition Corp. II (XRPN) tumbled 50.3% on Tuesday to close at $19.20, down from $38.65, after touching an intraday high of $53. The SPAC is set to take the XRP treasury company Evernorth public, but the Nasdaq debut has been pushed back from Oct. 8 to Oct. 9. Armada’s trust account equates to about $10.49 per share, leaving the stock roughly 81% above that level.

Asset manager Brevan Howard has adopted Ripple Prime, deepening its ties to Ripple’s institutional crypto infrastructure. The firm oversees roughly $35 billion in assets and was already an investor in Ripple, having participated in the San Francisco-based company’s $500 million strategic funding round last year. Ripple says its platform processes more than $3 trillion in annual clearing volume and serves over 300 institutional clients, highlighting its expanding reach in global financial markets.

The U.S. federal government has moved more than $100 million in cryptocurrencies from secure wallets to exchange-linked addresses, including $71.6 million in Bitcoin and $31.63 million in BNB. The Bitcoin transferred appears to be forfeited assets seized in the Bitfinex hack case, while the BNB came from assets seized from bankrupt Alameda Research. The government still holds $27.5 billion in crypto seized through law enforcement actions, but it has not confirmed whether the transferred tokens will be sold.

U.S. Treasury yields and oil prices rebounded, prompting investors to turn more cautious as the S&P 500 and Nasdaq slipped from record highs. Brent crude climbed back above the psychologically important $100 a barrel mark. The Dow fell more than 470 points, while eight of the S&P 500’s 11 sectors traded lower led by materials and industrials. Energy and healthcare edged higher.

Ripple said it has reached an enterprise partnership with Brevan Howard, a hedge fund manager with $35 billion in assets under management. Brevan Howard’s investment teams will use Ripple Prime, Ripple’s multi-asset brokerage platform, for services including clearing, lending, multi-asset management and swaps between fiat and digital assets. Brevan Howard said it expects the platform to improve operational ease and capital efficiency.