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The USDe synthetic dollar depegged on the Binance crypto exchange due to an internal oracle issue and not because of the underlying collateral, the Ethena protocol, or the token itself, according to Guy Young, the founder of Ethena Labs, the creator of USDe.USDe minting and redeeming worked “perfectly” during Friday’s flash crash, he claimed; $2 billion in USDe was redeemed during 24 hours across crypto exchanges, including Curve, Fluid, and Uniswap, with minimal price deviations of 30 basis points (BPS) or less, Young said.The price of USDe fell from about $1 to $0.65 on Binance during the crash because the…

Solana price maintains near the $220 level amid market volatility, buoyed by ETF hopes. Daily network transactions drop 50% from July’s 125 million peak. The total value locked hovers above $32 billion despite reduced on-chain activity. Solana’s price hovers around $220 even as on-chain data reveals a significant contraction in network activity. While a 50% dip in transactions is a factor to pay attention to, anticipation surrounding potential spot exchange-traded funds approvals and growing corporate interest provide bullish fuel for SOL. Solana sees 50% dip in daily transactions According to a recent report from CryptoQuant, Solana’s daily transaction count has…

Ethana’s yield-bearing stablecoin, USDe, briefly lost its 1:1 dollar peg during the recent sharp market sell-off triggered by U.S. President Donald Trump’s announcement of a 100% additional tariff on China.On Binance, USDe dropped to 65 cents before quickly regaining parity with the dollar during what’s seen as crypto’s largest ever liquidation event in U.S. dollar value. More than $19 billion in liquidations occurred over just 24 hours.USDe, which currently offers a 5.5% yield to holders, is backed by a mix of cryptocurrencies and uses a basis trade strategy, a financial setup that aims to profit from price gaps between spot…

Bitcoin began October on a strong bullish note, gaining by over 12% to establish a new all-time-high price around $126,100. However, the recent days have presented a troubling amount of selling pressure, especially in the last few hours due to tariff threats from the United States’ President Donald Trump. Amidst this highly volatile environment, on-chain data has also surfaced, highlighting market whales’ confidence in the market. Related Reading Bitcoin Whales Are Holding Their Ground In a QuickTake post on the CryptoQuant platform, a market analyst with the username PelinayPA revealed that there is very little exchange activity among the Bitcoin…

AI agents, software systems that use AI to pursue goals and complete tasks on behalf of users, are proliferating. Think of them as digital assistants that can make decisions and take actions towards goals you set without needing step-by-step instructions — from GPT-powered calendar managers to trading bots, the number of use cases is expanding rapidly. As their role expands across the economy, we have to build the right infrastructure that will allow these agents to communicate, collaborate and trade with one another in an open marketplace.Big tech players like Google and AWS are building early marketplaces and commerce protocols,…

The native token of Aave AAVE$237.51, the largest decentralized crypto lending protocol, was caught in the middle of Friday’s crypto flash crash while the protocol proved resilient in a historic liquidation cascade.The token, trading at around $270 earlier in Friday, nosedived as much as 64% later in the session to touch $100, the lowest level in 14 months. It then staged a rapid rebound to near $240, still down 10% over the past 24 hours.Stani Kulechov, founder of Aave, described Friday’s event as the “largest stress test” ever for the protocol and its $75 billion lending infrastructure.The platform enables investors…

Zora, which positions itself as a specialized scaling solution built for creators and DeFi primitives, has historically been subject to intense price volatility since its launch earlier this year. However, the last 48 hours have seen the asset establish a powerful momentum after listings on two critical trading platforms. The ZORA token is native to Ethereum Layer-2 blockchain Base.The Dual-Listing Market Shock and Price ActionThe price rally was initially triggered on October 9 when the mainstream retail investment platform Robinhood announced that it had officially added trading support for the ZORA token. Robinhood’s inclusion is often regarded as a major…

Changpeng Zhao (CZ) detailed the accidental rise of Chinese memecoins on BNB Chain and explained why Aster’s hidden orders provide a structural advantage over Hyperliquid.During his Oct. 10 interview with CounterParty TV, the former Binance CEO attributed BNB’s recent meme explosion to an unplanned Mid-Autumn Festival post and outlined his investment thesis, favoring privacy-focused perpetual DEXs over transparent alternatives.BNB Chain’s Chinese ticker surge started when Zhao posted “Happy Mid-Autumn Festival, post your best memes” during the traditional holiday.The community responded with moon-themed content and Chinese-language tickers, including Zhao Chang’e, a wordplay on Zhao’s name that referenced a female deity from…

XRP’s price experienced a massive crash, leaving over $700 million liquidated. But why? The broader cryptocurrency market saw its worst deleveraging events in history throughout the past 24 hours. Ripple’s XRP didn’t go unscathed. In fact, it was one of the altcoins that painted massive red wicks, dropping to as low as $1.2 on the Binance perpetual contracts charts. That’s a 60% drawdown, which, not surprisingly, had a lot of traders liquidated. So much so that, in fact, almost $1 billion worth of leveraged positions were wiped out in the past 24 hours. Why is the XRP Price Going…

The price of Zcash (ZEC), a supply-capped, shielded, layer-1 coin dedicated to user privacy, fully recovered following Friday’s market crash, forming a new recent high of about $291 on Saturday before retracing to about $273 at the time of this writing.Zcash plummeted by 45% on Friday, falling from a high of about $273 to $150, following a social media post from United States President Donald Trump announcing 100% tariffs on China, which sent the crypto markets into a meltdown.ZEC is only down about 5.5% from its recent high, making it a standout in this market crash. Many cryptos are still…