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In Brief Trump's tariff threat caused a major sell-off in the crypto market. Unreported data and government shutdown intensified uncertainties among investors. Resilience in the market suggests potential for a strong recovery.
In Brief The crypto market grappled with fear after Trump's tariff announcement on China. Bitcoin prices and the Crypto Fear & Greed Index dropped significantly. Some analysts see the market's fear as a potential buying opportunity.
Ethereum spot ETFs saw $175M in outflows on October 10, while Bitcoin ETFs remained relatively stable.Bitcoin ETFs Remain ResilientWhat This Means for Investors
The crypto market briefly lost $530 billion before bouncing back to a $3.7 trillion valuation.Fast Recovery to $3.7 Trillion Market CapWhat’s Next for Crypto Investors?
- 12:40Ethena releases proof of reserves in response to market concerns: USDe still has approximately $66 million in excess collateralizationOn October 11, Ethena Labs officially released a proof of reserves in response to market concerns, stating that USDe's proof of reserves is typically provided weekly by independent third-party verification agencies, including companies such as Chaos Labs, Chainlink, Llama Risk, and Harris & Trotter. At the request of the community, Ethena has provided an off-cycle proof of reserves based on market events in the past 24 hours, which can be found at the official link. All of these independent third parties have confirmed that USDe still maintains approximately $66 million in excess collateral, and Ethena Labs offers the highest level of transparency. This morning, Ethena Labs founder Guy Young responded to online rumors that "Ethena is urgently raising funds to avoid a repeat of the LUNA incident," stating that this is completely false information.
- 12:32Data: Jeffrey Huang opens long positions again with 1,800 ETH and 55,000 HYPEAccording to ChainCatcher, on-chain analyst Yu Jin monitored that "Machi Big Brother" Huang Licheng reopened long positions after his ETH longs were liquidated this morning. In the past hour, he transferred 177 ETH to Hyperliquid and exchanged them for 677,000 USDC, then opened a long position of 1,800 ETH at an entry price of $3,826 and a liquidation price of $3,505; at the same time, he opened a long position of 55,000 HYPE at an entry price of $39.8 and a liquidation price of $28.8.
- 12:22Aster adds new trading pairs including BTC, ETH, ADA, DOGE, and othersJinse Finance reported that Aster has newly listed trading pairs for BTC, ETH, ADA, DOGE, LRC, DOT, AVAX, SHIB, and SAND.