1. Popular CEX currencies

Top 10 CEX trading volume and 24-hour price changes:

• BTC: +4.98%
• ETH: +11.83%
• BNB: +17.09%
• SOL: +13.38%
• DOGE: +13.38%
• XRP: +8.71%
• PEPE: +13.01%
• DASH: +40.80%
• Litecoin (LTC): +6.82%
• ASTER: +26.33%

24-hour price increase list (data source: OKX):

• SNX: +43.42%
• VINE: +29.95%
• API3: +20.58%
• GEAR: +14.88%
• ASP: +13.50%
• NC: +13.43%
• HUMA: +12.48%
• WLFI: +9.84%
• BERA: +9.34%
• CFG: +8.83%

24-hour cryptocurrency stock price increase list (data source: MyStonks ):

• ProShares UltraShort Ether ETF (ETHD.M): +23.4%
• GraniteShares ETF Trust GraniteShares 2 x Short COIN Daily ETF (CONI.M): +20.68%
• Direxion Daily FTSE China Bear 3 X Shares (YANG.M): +20.66%
• ASP Isotopes Inc. Common Stock (ASPI.M): +17.74%
• Direxion Daily Semiconductor Bear 3 X Shares (SOXS.M): +16.91%
• T-Rex 2 X Inverse MSTR Daily Target ETF (MSTZ.M): +13.28%
• Investment Managers Series Trust II Tradr 2 X Short TSLA Daily ETF (TSLQ.M): +13.08%
• ProShares UltraShort Bitcoin ETF (SBIT.M): +13.02%
• Applied Digital Corporation Common Stock (APLD.M): +11.78%
• MP Materials Corp. (MP.M): +11.55%

2. Top 5 popular memes on the chain (data source: GMGN ):

• !!!
• LILPEPE
• Fox King
• USELESS
• Tariffs USA

Headlines

Binance: Will compensate users affected by the price decoupling of USDE, BNSOL, and WBETH

Binance has completed a comprehensive review of the price decoupling incidents of USDE, BNSOL, and WBETH, and will compensate all affected contract, leverage, and loan users within 72 hours. Compensation will be automatically paid to the relevant user accounts.

Compensation plan:

All affected futures, margin, and loan users holding USDE, BNSOL, and WBETH as collateral and affected by the depegging between 05:36 and 06:16 (GMT+8) on October 11, 2025, will receive compensation for the difference. The specific amount will be calculated based on the difference between the market price and the liquidation price at 08:00 (GMT+8) on October 11, 2025.

If your situation does not fall within the above scope, you can directly contact Binance customer service to transfer to manual service, obtain the form link to submit your application, and we will handle it on a case-by-case basis.

The Bitcoin whale that high-profiled the ETH position shorted 1423 BTC again

According to MLM monitoring, the ancient Bitcoin whale who had been high-profile in switching positions to ETH once again shorted 1,423 BTC, worth approximately US$161 million.

Eugene: The altcoin market is over, say goodbye to crypto treasury companies

Well-known trader Eugene Ng Ah Sio posted on his personal channel: "There have been many insightful analyses of Friday's events. I will briefly state a few points: 1) The altcoin market is over for the foreseeable future. The scale of the wealth destruction and the manner in which it was executed will leave a long-lasting impression on participants. 2) Long-short strategies are not viable in the crypto market. These strategies may work under normal market conditions, but often fail at the most critical moments. 3) Chain reactions (contagion) will occur, but the extent is yet to be determined. I hope there are no major systemic problems. 4) Goodbye, Crypto Treasury Company."

Analyst: It is necessary to be cautious when opening orders for altcoins that did not flash crash yesterday, as they may be heavily controlled or heavily involved by market makers.

On-chain analyst Aunt Ai published a post on the X platform reviewing the "10.11 flash crash," stating: Be cautious when placing orders for altcoins that didn't flash crash yesterday, as they often have high market control or deep market maker involvement. Pay more attention to projects that withstood the test yesterday, as extreme market conditions are the best litmus test. Falcon Finance, a project highly praised by the founder of DWF Labs, has already seen Pendle claim 2.32 million FFs.

Industry News

USDe's market capitalization fell below $12.7 billion, having lost over $2 billion this week.

Coingecko data shows that the market value of USDe, a stablecoin issued by Ethena Labs, has dropped from approximately $13.5 billion yesterday to below $12.7 billion, currently at $12,660,245,970, down more than $2.16 billion from approximately $14.82 billion seven days ago.

According to previous news, USDe was severely decoupled from the US dollar during the cryptocurrency crash on October 11, falling to as low as $0.62 on some decentralized exchanges, with a decoupling rate of as much as 38%. The price has now recovered to the $1 range.

BitMine is suspected of purchasing approximately 128,700 ETH worth $480 million after the market crash

Lookonchain monitoring indicates that BitMine appears to have purchased 128,718 ETH (approximately $480 million) following the market crash. Six new wallets (likely belonging to BitMine) withdrew 128,718 ETH (approximately $480 million) from FalconX and Kraken.

Grayscale files SEC Form 10 for TAO Trust, shortening private placement holding period to 6 months

Grayscale announced it has filed Form 10 for the Grayscale Bittensor Trust (TAO), the first step toward becoming an SEC-reporting company, aiming to improve its accessibility, transparency, and regulatory status. This move means Grayscale will seek to publicly quote TAO Trust shares on the over-the-counter market, shortening the 12-month holding period for its private placement to six months. This brings the trust one step closer to becoming an exchange-traded payment (ETP).

Polymarket: The market is betting that the US government shutdown will last beyond October 15, with the probability rising to 95%.

According to the latest data from Polymarket, in the forecast contracts related to "When will the US government shutdown end?", the probability of the option "October 15 or later" has risen to 95%, while the probability of "ending between October 10 and 14" is only 5%.

The total trading volume of the event has exceeded US$6.2 million, of which the trading volume of "October 15 or later" contracts is approximately US$2.4 million.

Project News

Lighter announces compensation for LLP holders

The decentralized contract exchange Lighter stated in a post on X that LLP had a tough day in the past 24 hours, with a return rate of -5.35%. A detailed analysis, including a compensation plan for LLP holders, will be released tomorrow.

Meteora CEO: TGE will not be adjusted due to market changes and will still be held on October 23

Meteora head Soju posted on X that the TGE time will not be postponed due to market changes, and TGE will still be held as planned on October 23.

Four.Meme: The platform is experiencing a significant traffic surge and may experience slow loading times.

Four.Meme posted on the X platform that the platform is experiencing a large traffic impact, which may cause slow loading for some users or problems accessing other services. The technical team is currently working on this matter and is working hard to resolve the problem as soon as possible.

Ethena Labs founder: USDDe's peg to USDT is reasonable, and minting and redemption did not stop during market turmoil

Guy Young, founder of Ethena Labs, wrote on the X platform: "Oracles attempt to identify two distinct scenarios: a temporary price dislocation in the secondary market and a permanent impairment of collateral. The latter has never occurred with USDe and is much less likely for most assets, including USDe." While the DeFi currency market has been criticized for USDe's peg to USDT, it believes this practice is reasonable because it avoids liquidations caused by temporary price imbalances.

Ethena provides on-demand proof of reserves to a small number of entities, some of which are also oracle providers, including Chaos Labs and Chainlink. Ethena's minting and redemption functions did not go down during the market turmoil this week. Major liquidity venues through on-chain venues such as Curve, Uniswap, and Fluid experienced price dislocations. More than $9 billion of on-demand stablecoin collateral was available for immediate redemption, but actual usage was only a small portion.

Investment and Financing

Jiko, a US Treasury-based settlement and payment platform, receives strategic investment from Coinbase and Blockstream

Jiko, the U.S. Treasury-based settlement and payments platform, announced strategic investment support from Coinbase and Blockstream Capital Partners. In addition to this investment, Jiko has also established new strategic partnerships with Crypto.com, Blockstream Capital Partners, Bitso, and Coinbase. These strategic partners will join other institutions using Jiko as a banking partner to leverage its U.S. Treasury-based model for storage, settlement, and payments.

Regulatory trends

Indian tax authorities are investigating over 400 Binance users for tax evasion.

Indian tax authorities are investigating more than 400 high-net-worth Binance traders for suspected tax evasion in 2022-23 and 2024-25. The Central Board of Direct Taxes has given city departments until October 17 to report on any actions taken, according to an internal communication.

Cryptocurrency trading users in India are required to pay a 1% withholding tax on each cryptocurrency transfer (included in the final bill), plus a 30% profit tax and additional taxes, with the highest tax rate reaching around 42.7%.

Character Voice

Economist: Strategy's Bitcoin paper gains are at risk of being wiped out

Economist and cryptocurrency critic Peter Schiff wrote on the X platform: "The bloodbath in the cryptocurrency market continues, with Bitcoin falling below $110,000 and Ethereum below $3,700. If Ethereum further falls below the key support level of $3,350, its price is likely to fall to $1,500, a drop of nearly 70% from its all-time high. If this happens, the price of Bitcoin could fall to approximately $75,000, a 40% drop from its peak, and all of the Strategy's paper gains will be wiped out."

Trader Vivek Raman: I am still optimistic about the crypto market after the leverage collapse. ETH is still a means of storing value for institutions like BTC.

Vivek Raman, a former high-yield credit trader on Wall Street, wrote on X: "Despite the fierce leverage washout exceeding all previous crashes, I still believe that we are currently in the midst of a cryptocurrency renaissance. ETH, like BTC, is still an institutional means of storing value. The Ethereum economy (L1, L2, applications) is still running seamlessly, and the ETH price will still reach $10,000, or even higher."

He Yi responded to Binance customer service saying that "the value of the copycat was originally 0": I am very sorry for the trouble I caused

Regarding Binance customer service's statement in a previous communication with community users that "the value of the copycat was originally zero," Binance co-founder He Yi responded on the X platform, saying: "Customer service staff who are currently in training have also come up to answer questions, and there are also customer service staff from other countries who are using translators. We are very sorry for the inconvenience caused by customer service."

Du Jun: We have started to build ETH spot positions in the $3,800 range in batches

Du Jun, founder of Vernal Capital and former CEO of Xinhuo Technology, wrote on X: "I have started to build ETH (spot) positions in batches in the 3800 range. The current market direction is still unclear, and the key lies in the performance of US stocks on Monday. I recommend a light position for trial."

The author of "Rich Dad Poor Dad": I believe Ethereum and silver are the best now

Robert Kiyosaki, author of "Rich Dad Poor Dad," wrote on the X platform: "The biggest economic crisis in history may be imminent, possibly this year. The retirement lives of American baby boomers will be completely destroyed, leaving many homeless or living in their children's basements. I've always warned against investing in real assets and explained that 'savers are losers' because inflation turns savings into garbage. For the past few years, I've considered gold, silver, and Bitcoin worthy holdings, and recently added Ethereum to this portfolio. Today, I believe silver and Ethereum are the best because they are both stores of value and reasonably priced. Whether you're a silver and Ethereum hater or a fan, I recommend researching their pros and cons and practicality, then investing with your own financial wisdom while remaining cautious."