Author: TechFlow
Yesterday's market dynamics
BTC fell to $102,000 this morning, and ETH fell to $3,435
HTX market data shows that BTC fell to $102,000 this morning and is now trading at $112,876, and ETH fell to $3,435 and is now trading at $3,867.
In the past 12 hours, the entire network has experienced a $19.076 billion liquidation , mainly due to long orders.
According to Coinglass data, the total amount of liquidation in the cryptocurrency market in the past 12 hours reached US$19.076 billion, of which long positions were liquidated for US$16.663 billion and short positions were liquidated for US$2.413 billion.
Trump: Considering significantly increasing tariffs on Chinese products entering the US
U.S. President Trump posted on social media, "One of the policies we are currently considering is a significant increase in tariffs on Chinese products entering the United States of America. There are many other countermeasures that are also under serious consideration."
Fed Governor Waller: Open to a 25 basis point rate cut at upcoming meeting
According to Jinshi Data, Federal Reserve Board Governor Waller expressed an open attitude towards a 25 basis point interest rate cut at the upcoming meeting. The Fed needs to cut interest rates, but it needs to do so with caution.
USDe experienced a serious decoupling this morning. Ethena stated that USDe minting and redemption were operating normally, and assets were still overcollateralized.
Around 5:30 AM this morning, Ethena's USDe stablecoin experienced a significant decoupling. The USDe/USDT price on Binance plummeted to as low as $0.65. It has since recovered to normal levels.
Ethena Labs stated that USDe experienced secondary market price fluctuations due to market volatility and a series of liquidations. Ethena stated that USDe minting and redemption operations are operating normally, and the asset remains overcollateralized. Due to liquidations, perpetual swaps are trading below spot prices, resulting in additional unrealized profit and loss (uPNL) on short positions, which are being converted into protocol revenue. USDe will be even more overcollateralized than yesterday.
Binance: All services have returned to normal and we will closely monitor the situation.
Binance officials posted on social media that all services on the platform have returned to normal and are gradually recovering. Officials will continue to closely monitor developments to ensure all operations proceed smoothly.
MetaMask announced that it will launch multi-chain accounts at the end of October
According to the official announcement, MetaMask announced that it will launch multi-chain accounts at the end of October, supporting users to group and manage EVM and non-EVM addresses, and to trade and track account assets between the two networks.
All EVM accounts on MetaMask will retain their names and addresses. Each EVM address will be grouped into a Multichain account and paired with its Solana address. If you already have a Solana address, it will be paired with your EVM address to form a Multichain account. If you don't already have a Solana address, a new Solana address will be created for you. MetaMask's Multichain accounts will also support other networks such as Bitcoin, Tron, and Monad.
Aster : Phase 2 airdrop checker tool is now open, with a total of 153,932 wallets eligible
Aster has officially announced the release of its Phase 2 airdrop checker. A total of 153,932 wallets are eligible. Eligible participants will be able to claim their airdrops on October 14th, with the specific time to be announced that day.
Four.meme officially denied the news of its cooperation with Oracle. Currently, Oracle has cancelled its account and the relevant tokens have been reset to zero.
Crypto KOL AB Kuai.Dong posted on social media that Four.meme officials claimed that the so-called "prediction market project Oracle on BNB Chain" is not a partner of Four.meme.
After the news was released, Oracle 'Official Twitter account was cancelled and the market value of the related tokens fell from US$3 million to US$160,000.
Goldman Sachs, Barclays and other major global banks plan to jointly launch a stablecoin project
According to market news, major global banks plan to jointly launch a stablecoin project. Alliance members include Santander, Bank of America, Barclays, BNP Paribas, Citigroup, Deutsche Bank, Goldman Sachs, Mitsubishi UFJ Financial Group, TD Bank and UBS.
Prediction Market Kalshi Raises $300 Million at $5 Billion Valuation
According to the New York Times, prediction market platform KALSHI has completed $300 million in financing, with a valuation of $5 billion.
HashKey considering IPO , raising up to $500 million
According to Zhitong Finance, HashKey, Hong Kong's largest cryptocurrency exchange, is considering an IPO to raise no more than US$500 million.
Market Dynamics
Recommended Reading
The man behind Hyperliquid was an apprentice at Binance Labs seven years ago.
This article recounts Hyperliquid founder Jeff Yan's journey from Binance Labs incubator in 2018 to becoming a leading decentralized exchange (DEX) player by 2025, demonstrating his perseverance and innovation. His earlier project, Deaux, failed, but its philosophy and technical design laid the foundation for Hyperliquid. Hyperliquid achieved breakthroughs through on-chain/off-chain hybridization, high-performance order books, and decentralized settlement, seizing the demand for decentralized trading following the FTX debacle. Jeff maintains a low profile, focusing on product optimization and user growth, using competition to drive industry progress.
Naval's shill drove ZEC's surge. What other privacy projects are worth paying attention to?
This article analyzes the surge in Zcash (ZEC) ignited by a tweet from Naval Ravikant, exploring the current state and future potential of the privacy coin market. Naval's influence has boosted overall sentiment in the privacy coin sector and driven gains in several related projects. Simultaneously, ecosystems like Ethereum and Solana are also making moves in privacy technology, injecting new vitality into the privacy narrative.
This article discusses the development and future trends of Ethereum Treasury (DAT), focusing on Ethereum's supercycle, DAT's differentiated path, capital structure innovation, and Ethereum's central role in the global economy. Several industry leaders shared their unique insights on the DAT industry from the perspectives of their respective company strategies, market positioning, and capital management, exploring the theoretical basis for DATs trading at a premium and the potential future industry landscape.
He Yi: Becoming an Entrepreneurial Cultivator in the New Era
This article focuses on the current state and development trends of the cryptocurrency industry. The author shares his own entrepreneurial and industry experiences and reflections, including the growth of Bitcoin and Binance, the importance of regulatory compliance, user fairness, and his perspective on the MEME market. The article also addresses investment risks in the crypto market and calls for attention to the long-term value of projects and the development of an industry ecosystem.
Welcome to the golden age of asset bubbles
This article explores the current state of crypto-asset bubbles and the behavioral drivers behind them, analyzing the speculative nature and lack of intrinsic value of memecoin, as well as the phenomena of wealth transfer and gambling addiction. These bubbles, often characterized by rapid growth and collapse, attract large numbers of investors and reveal ethical and social issues in finance.
