[Linea Burn Mechanism Goes Live, Transactions Will Burn ETH and LINEA Proportionally] Linea announced that the token burn mechanism is officially live. For each on-chain transaction, gas fees will be burned at a 1:4 ratio of ETH to LINEA. All gas fees are paid in ETH and collected through the fee contract. After deducting infrastructure costs, 100% of the remaining funds will be used for burning, with 20% burned in the form of ETH and 80% converted to LINEA and burned on L1. Additionally, the token burn data tracking feature is now live.

According to AiCoin's real-time on chain monitoring, at 10:05 am today (UTC+8), the "1011 Insider Whale" once again placed a multiple order of 5000 ETH worth $16.36 million. As of the time of writing, the value of its ETH long position is as high as $42.63 million, with a floating loss of $2.15 million. Whale address: 0xb31d2bc2d2d2df5fa441bae0ab9d8b07283ae

[Canaan Secures $72 Million Strategic Investment, Issues 63.7 Million American Depositary Shares] Nasdaq-listed Bitcoin mining machine manufacturer Canaan Inc. announced that it has received a strategic investment totaling $72 million from BH Digital (a division of Brevan Howard), Galaxy Digital, and Weiss Asset Management. The financing was conducted in the form of equity, with the company issuing approximately 63.7 million American Depositary Shares (ADS) at a price of $1.131 per share. The transaction does not involve options, warrants, or other derivatives. The deal is expected to be completed on November 6 (UTC+8).

[NIP Group Acquires Mining Facilities, Hashrate to Increase to 11.3 EH/s] Ninjas in Pyjamas parent company NIP Group announced the expansion of its Bitcoin mining business. By acquiring approximately 8.19 EH/s mining facilities from Apex Cyber Capital, Prosperity Oak Holdings, and Novo Jumpster, the total hashrate will increase to 11.3 EH/s. The monthly Bitcoin production is expected to rise from 60 BTC to 160 BTC, an increase of over 120%.

[Whale Using Loop Loan to Long BTC Sells WBTC and ETH to Repay Loan] On-chain analysis shows that a whale who went long on 1,320 WBTC (approximately $132 million) through loop lending faced a position close to the liquidation line after today's market downturn. To reduce risk, the whale sold approximately 465.4 WBTC and 2,686 ETH two hours ago, exchanging them for about $56.52 million USDC to repay part of the loan. The average selling price of WBTC was approximately $102,722, and the average selling price of ETH was approximately $3,244.