AAVE and Pump.fun rally as crypto market capitalization slips 0.30%

  • AAVE, Pump.fun, Sky, and Worldcoin advanced as most crypto assets declined.
  • AAVE gained 20% weekly, while Pump.fun rose 30% and Sky climbed 14%.
  • Quant fell 7% Friday but remained up 152% over seven days at $252.55.

Most of the crypto market moved lower into early October, with total market capitalization slipping 0.30% over the past week, according to BeInCrypto Markets. Bitcoin briefly surged from $84,000 to $87,000 on Friday before quickly returning to early levels, while sentiment toward ETH and XRP turned negative. AAVE gained 20% over the week, including a 7% rise Friday, after the Aave protocol reached $1 billion in user deposits. Aave V4 also went live on Arc and Base in September, and Base added an Equities Hub allowing eligible non-U.S. users to borrow USDC (dollar-pegged stablecoin) against seven Coinbase-tokenized U.S. stocks. Pump.fun rose 30% as roughly half of net protocol revenue was directed toward PUMP buybacks and burns, with daily purchases exceeding $1 million several times in late September. Pump.fun and Hyperliquid accounted for nearly 90% of the record $638 million in token buybacks reported by BeInCrypto in August. Sky gained 14% as institutional interest increased after Galaxy Digital added $100 million of sUSDS, Sky's yield-bearing savings token, to its treasury, approved it as collateral across its institutional trading business, and bought an undisclosed amount of SKY. Worldcoin advanced 15%, although Santiment did not identify a specific catalyst. Quant fell 7% Friday amid profit-taking after a steep rally and is down more than 32% from its late-September high, but remains up 152% over seven days at $252.55. Santiment described the weaker week as a test of traders' appetite for early October dips, with next week's performance indicating whether the selloff continues or the market turns.

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