- Popular CEX Cryptocurrencies
Top 10 CEX Trading Volume and 24-Hour Price Change:
- BTC: -1.03%
- ETH: +1.32%
- BNB: -1.24%
- SOL: +5.28%
- DOGE: +2.24%
- ASTER: -2.87%
- CAKE: +7.39%
- EUL: +26.58%
- XPL: +5.19%
- DATA: +6.54%
24-Hour Price Increase Ranking (Data Source: OKX):
- OM: +20.23%
- CFG: +12.84%
- RSR: +11.61%
- XPL: +11.17%
- CRV: +9.26%
- CVX: +9.11%
- LINEA: +8.50%
- ENA: +8.17%
- BAND: +7.72%
- DYDX: +7.29%
24-Hour Cryptocurrency Stock Price Increase Ranking (Data Source: MyStonks):
- Canaan Inc. American Depositary Shares (CAN.M): 41.28%
- Bitfarms Ltd. Common Stock (BITF.M): 37.86%
- ASP Isotopes Inc. Common Stock (ASPI.M): 33.17%
- Rigetti Computing, Inc. Common Stock (RGTI.M): 29.46%
- Cipher Mining Inc. Common Stock (CIFR.M): 29.05%
- MP Materials Corp. (MP.M): 26.73%
- BigBear.ai Holdings, Inc. (BBAI.M): 25.62%
- Tron Inc. (TRON.M): 20.82%
- Mawson Infrastructure Group Inc. Common Stock (MIGI.M): 18.54%
- Nano Nuclear Energy Inc. Common Stock (NNE.M): 19.46%
- On-Chain Popular Meme Top 5 (Data Source: GMGN):
- META
- E.N.S.O
- ADELOS
- KMNO
- USELESS
Headlines
Binance Alpha Launches Chinese Memes "Cultivation" and "Hakimi"
According to the official website, Binance Alpha has launched Chinese memes "Cultivation" and "Hakimi".
[benmo.eth: USDe Decoupling Event Leverage Trading as the Main Battlefield, Binance Withdrawal Mechanism Unexpectedly Locks Arbitrage Path](https://benmo.eth:USDe Decoupling Event Leverage Trading as the Main Battlefield, Binance Withdrawal Mechanism Unexpectedly Locks Arbitrage Path 2025-10-13 12:22 Odaily Planet Daily reported by benmo.eth, reviewing the USDe decoupling event on October 11 from the perspective of lending and leverage trading. He pointed out that Binance provided three types of high-leverage products during the event: VIP Loan, Deposit and Loan, and leverage trading, with the leverage trading sector being the most affected. Due to the real-time liquidation mechanism triggering a chain liquidation, users with 5x revolving loans almost lost all their principal, becoming the main battlefield of this decoupling event. The article analyzes that the trigger of the event stemmed from a market crash caused by macro news, which in turn triggered the liquidation of BTC and ETH leveraged positions, leading to a large amount of USDe being sold off; meanwhile, Binance's ETH hot wallet automatically stopped withdrawals when gas fees were too high, preventing USDe from being redeemed on-chain, blocking the arbitrage channel, and causing the price to drop to $0.66. Benmo.eth pointed out that Binance's compensation announcement clearly identified the price anomalies between 5:36 and 6:16 (UTC+8) as non-market behavior and has initiated compensation. He suggested that in the future, the mint-redeem mechanism or multi-signature limit adjustments should be implemented to improve redemption efficiency and prevent similar events from recurring from a mechanism perspective.)
Benmo.eth wrote an article reviewing the USDe decoupling event on October 11 from the perspective of lending and leverage trading. He pointed out that Binance provided three types of high-leverage products during the event: VIP Loan, Deposit and Loan, and leverage trading, with the leverage trading sector being the most affected. Due to the real-time liquidation mechanism triggering a chain liquidation, users with 5x revolving loans almost lost all their principal, becoming the main battlefield of this decoupling event.
The article analyzes that the trigger of the event stemmed from a market crash caused by macro news, which in turn triggered the liquidation of BTC and ETH leveraged positions, leading to a large amount of USDe being sold off; meanwhile, Binance's ETH hot wallet automatically stopped withdrawals when gas fees were too high, preventing USDe from being redeemed on-chain, blocking the arbitrage channel, and causing the price to drop to $0.66.
Benmo.eth pointed out that Binance's compensation announcement clearly identified the price anomalies between 5:36 and 6:16 (UTC+8) as non-market behavior and has initiated compensation. He suggested that in the future, the mint-redeem mechanism or multi-signature limit adjustments should be implemented to improve redemption efficiency and prevent similar events from recurring from a mechanism perspective.
Matrixport pointed out in a market report released on October 13 that Trump's proposal to impose a 100% tariff on China triggered a historic crash in the cryptocurrency market, coinciding with high leverage and overheated market sentiment.
The report states that the price drop led to automatic liquidation orders on decentralized exchanges (DEX) being triggered in a chain reaction, further amplifying selling pressure due to tight liquidity and insufficient trading volume. During this period, the funding rate for Ethereum briefly dropped to -39%, marking one of the most severe corrections in recent years, with excessive leveraged positions in the market being almost completely cleared.
Matrixport stated that this round of "surrender-style selling" is historically significant, marking not only the end of the high-leverage cycle but also completely reshaping the current cryptocurrency market's position structure.
Industry News
Over $31 Million in COAI Contract Liquidations in 24 Hours, Only Less Than BTC, ETH, and SOL
According to Coinglass data, over $31.14 million in COAI contract liquidations occurred across the network in 24 hours, with long positions liquidated at $11.78 million and short positions liquidated at $15.39 million, with the liquidation amount only less than BTC, ETH, and SOL.
MARA Holdings Buys Another 400 BTC, Total Holdings Reach 52,900 BTC
According to Onchain Lens monitoring, MARA Holdings purchased another 400 Bitcoin (BTC) through FalconX two hours ago, with a transaction amount of approximately $46.31 million.
Currently, the institution holds a total of 52,850 BTC, with a total value of approximately $6.12 billion based on current prices.
AlphaTON Capital Purchases Another 300,000 TON, Total Holdings Exceed 1.4 Million
According to Globenewswire, Nasdaq-listed company AlphaTON Capital Corp. (stock code: ATON) disclosed that it has purchased an additional 300,000 TON tokens in the open market on October 12, bringing the total holdings to over 1.4 million, including 1.1 million purchased the previous week.
The company stated that no liquidation events occurred during this period, and most of its TON assets were not collateralized, with a debt-to-asset ratio still maintained at a low level of 0.07.
Nasdaq-listed company Qualigen Therapeutics (QLGN) announced that it has completed the infrastructure setup for USD cash settlement, bank accounts, cryptocurrency custody accounts, etc., in the past two weeks, and will officially start purchasing the first batch of strategic assets this week, mainly investing in the top 10 cryptocurrencies by market capitalization, focusing on "blue-chip" crypto assets such as BNB, ETH, and SOL.
Previously, FF had made a strategic investment of $41 million in Nasdaq-listed company QLGN, and Jia Yueting invested $4 million, with QLGN set to be renamed CXC 10.
Analysis: 100,000 LINK on Chain Movement, Suspected Integration Testing Before Mainnet Launch
According to on-chain analyst Ai Yi's monitoring, the address 0xCC8…d7B03 received 100,000 LINK (approximately $2 million) transferred from address 0xbc1…C6A2C on October 11, and then the address deposited all tokens into the Tadle: Jorro contract.
The analysis pointed out that this contract belongs to the DeFi aggregation protocol Tadle under the Chainlink ecosystem, and the related interaction may be preparation for integration with Chainlink before the Monad mainnet launch. On-chain data shows that the sending address belongs to the Monad team, which has frequently interacted with $MON in the past week.
In addition, the Monad testnet activity leaderboard shows that Tadle ranks second in terms of account numbers and trading volume over 1D/7D/30D. Currently, both Binance and OKX have launched Monad contract trading pairs, and the airdrop query interface is expected to open tomorrow.
Project News
HyperSwap Airdrop Query Now Open
The Hyperliquid ecosystem DEX project HyperSwap has launched its airdrop query page, although claiming is not yet open (TGE is expected on October 20).
Monad: Airdrop Claim Portal to Open Today at 21:00
Monad officials announced that the airdrop claim portal will open at 21:00 Beijing time on October 14.
BscScan to Conduct Server Maintenance on October 14
BscScan announced on the X platform that it will conduct server maintenance at 7:00 AM UTC on October 14, 2025, expected to last for 3 hours. During maintenance, the website and API services may be unavailable.
The ASTER team released an announcement stating that an internal investigation confirmed that the abnormal airdrop claim time was due to a time zone setting error. To ensure fairness, the team will open claims early for all eligible users.
The latest schedule is as follows:
- ASTER airdrop claim opening time: 03:00 Beijing time on October 14;
- Trading fee refunds: will start after claims open and be completed by 20:00 Beijing time on October 14.
- The team stated that the multiple adjustments to the second phase airdrop time have caused inconvenience to users, and a comprehensive internal review will be conducted to prevent similar issues from occurring again.
Flying Tulip officials have disclosed public offering details, which will be conducted in four rounds: Early Access, Supporter Whitelist, Intent Whitelist, and Open Public, with the same fundraising terms for each round.
The public offering will support Ethereum, Avalanche, Sonic, Base, BSC, and Solana, with different funding limits set for each chain.
Possibly Influenced by Upcoming Perp DEX, Synthetix (SNX) Surged Over 100% in 24 Hours
OKX market data shows that Synthetix (SNX) briefly surged to 1.9255 USDT, with a maximum short-term increase exceeding 100%.
Previously, in late September, Synthetix announced the launch of its first Perp DEX on the Ethereum mainnet and will initiate a trading competition for testing before the launch.
ZEROBASE Announces ZBT Token Economics, Total Supply of 1 Billion, 8% for Airdrop
ZEROBASE announced on the X platform that ZBT is a key asset of the ZEROBASE Prover Network, used for accessing network services and incentivizing participation, with a fixed total supply of 1 billion. The distribution is as follows:
- 43.75% for node equity, with linear release starting one month after TGE;
- 11.25% for early investors, with a lock-up period of 1 year, followed by 24 months of linear vesting;
- 2% for liquidity, fully unlocked at TGE;
- 8% for airdrop, aimed at early adopters;
- 15% for the ecological fund, fully unlocked at TGE;
- 20% for the team and advisors, with a lock-up period of 1 year, followed by 48 months of linear vesting.
STBL CEO: STBL Plans to Initiate Buyback at the End of October
STBL CEO Avtar Sehra announced on the X platform that STBL.IO plans to initiate a token buyback at the end of October. Buyback payments will use USST, and holders can stake it in the multi-factor staking (MFS) module. At that time, STBL.IO will also announce liquidity channels for USST, allowing users to choose between cashing out or staking.
Additionally, STBL.IO plans to launch multi-factor staking (MFS) functionality in October, initiate buybacks (paid in USST), and provide USST liquidity.
Investment and Financing
The Dogecoin Foundation's business division House of Doge announced that it will go public on Nasdaq through a merger with Brag House Holdings, Inc. (NASDAQ: TBH), becoming the first institutional Dogecoin ecosystem management platform. The boards of both parties have unanimously approved the merger agreement, with the transaction expected to be completed in early 2026.
At the same time, House of Doge has secured over $50 million in investment capital and holds approximately 837 million Dogecoin, including 107 million DOGE in the Swiss Dogecoin ETP in collaboration with 21 Shares and 730 million DOGE held in the official treasury.
CipherOwl, founded by a team building on-chain data and compliance platforms for Coinbase, announced today that it has raised $15 million in seed round financing, co-led by General Catalyst, Flourish Ventures, and Enlight Capital, with participation from Coinbase Ventures, OKX Ventures, Road Capitals, and Sancus Ventures.
CipherOwl provides enterprise-level compliance intelligence layers for exchanges, custody, payment, and DeFi institutions, allowing institutions to scale their on-chain business without synchronously expanding compliance teams, reducing overall operational costs by 60%. The core product SR 3 is based on proprietary Evidence Graph technology, integrating multi-chain transaction data with global intelligence in real-time to generate a complete auditable evidence chain for each transaction. It can review millions of transactions daily, scanning API responses in 10 ms, supporting mainstream public chains representing 98% of market capitalization, and catering to high-frequency scenarios such as stablecoins and tokenized assets.
China Renaissance Plans to Raise $600 Million Fund to Invest in BNB, YZI Labs May Participate
China Renaissance is negotiating with investors to raise approximately $600 million to establish a special investment vehicle for investing in BNB, with YZI Labs expected to participate in the project.
Regulatory Trends
White House May Nominate SEC Crypto Task Force Chief Counsel Mike Selig as CFTC Chairman
The White House is close to announcing a nominee for the new chairman of the U.S. Commodity Futures Trading Commission (CFTC), with SEC crypto task force chief legal counsel Mike Selig being the most likely candidate.
Sources say Selig remains the "preferred candidate" of the government, and the White House has begun reviewing potential commissioner candidates to rebuild the current five-member commission, which is only led by acting chair Caroline Pham. This nomination is seen as a significant milestone in the regulatory landscape for cryptocurrencies, coinciding with Congress's push to expand the CFTC's regulatory authority over the crypto market through the "Market Structure Act."
Selig currently serves as a senior advisor to SEC Chairman Paul Atkins and previously worked as a commissioner assistant judge at the CFTC, as well as spending ten years in the digital asset teams at Perkins Coie and Willkie Farr & Gallagher law firms.
Voices
Binance founder CZ stated on the X platform that when others choose to ignore, hide, shirk responsibility, or attack competitors, key BSC ecosystem participants (including Binance, Venus, etc.) have spent hundreds of millions of their own money to protect users, reflecting "different value systems."
Previously, Hyperliquid co-founder Jeff.hl stated that fully on-chain liquidation mechanisms are transparent and verifiable, while some centralized exchanges (CEX) have serious issues with underreporting liquidation data.
OKX CEO Star: USDe is Not a 1:1 Pegged Stablecoin, Essentially a Tokenized Hedge Fund
OKX CEO Star stated on the X platform that Ethena Labs has excelled in portfolio and risk management, and its transparency should become a benchmark for the industry. OKX has launched the ENA token and may support USDe in the future, and it is also one of Ethena's early angel investors.
Star pointed out that the market should not view USDe as a 1:1 pegged stablecoin; its essence is a tokenized hedge fund that typically employs relatively low-risk strategies such as delta-neutral basis trading or money market investments, but it still carries inherent risks, including automatic deleveraging (ADL), exchange failures, and custody security vulnerabilities.
He emphasized that labeling USDe as a "stablecoin" or referring to its price fluctuations as "de-pegging" is misleading; the design intent of USDe is not to maintain a fixed pegged relationship with the US dollar. If exchanges plan to incorporate it into their collateral systems, they must establish a comprehensive and dynamic risk control mechanism.
Garrett Jin Explains His Bearish Stance Before the Crash on October 11
Previously, the high-profile whale Garrett Jin, who sold over $4.23 billion in BTC to switch to ETH, tweeted to explain his bearish stance before the flash crash on October 11. He stated that from a technical analysis perspective, US tech stocks, A-share tech stocks, and major cryptocurrencies all showed overbought signals, such as MACD divergence. Historical data shows a high positive correlation between cryptocurrencies and US tech stocks, indicating that risk may shift between the two. Over the past week, the US stock market shifted from risk appetite to risk aversion, and the crypto market exhibited a similar pattern. Additionally, since September 26, trade tensions between the US and China have intensified, but due to bullish market sentiment, investors reacted less. Last Friday, before the crash, China announced it would impose a "special port fee" on US ships docking at Chinese ports starting October 14, with plans to increase it annually. At the same time, China launched antitrust investigations against companies like Qualcomm. In response, President Trump called for banning Chinese planes from flying over Russian airspace.
He noted: "These events indicate that trade tensions are escalating, and both A-shares and US stocks shifted to a risk-averse mode before the crash on October 11. While it is impossible to predict when Trump will retaliate against China, our internal quantitative system has raised the risk alert."
TD Cowen: US Crypto Market Structure Bill May Be Delayed Until After Midterm Elections
TD Cowen analysts stated in a recent report that the US Senate is making slow progress on cryptocurrency market structure legislation, and the bill's passage may be delayed until after the midterm elections.
The report pointed out that fundamental disagreements between Democrats and Republicans over regulatory authority and DeFi restrictions are the main obstacles to current deliberations. Among these, the Democratic proposal to prohibit government officials from holding crypto assets is seen as a sensitive issue, involving controversies over the Trump family's profits through projects like World Liberty Financial.
TD Cowen analyst Jaret Seiberg stated that senators are not unable to take action within the next 12 months, but from a political perspective and considering the limited session, "the reasons for their delay far outweigh the reasons for swift advancement."
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