US September wholesale sales rise 2.8% month-on-month vs 1.8% prior

The signal here is the acceleration rather than the level: a faster month-on-month gain suggests distributors are restocking or seeing firmer orders, which typically precedes broader demand confirmation further down the supply chain. That matters for anyone tracking the macro backdrop that crypto and RWA markets trade against, since stronger goods activity can shift rate expectations. The open question is whether this pace holds through the fourth quarter or reflects a one-off pull-forward.