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BlockBeats News, on October 13, CryptoQuant analyst EgyHash stated that the cryptocurrency market has experienced one of the most severe price corrections in its history, examining several key market indicators to assess its potential impact. After reaching a recent peak last week, Bitcoin open interest dropped sharply by $12 billion, from $47 billion down to $35 billion. This is one of the most significant contractions in futures positions in recent times. Funding rates have also gradually declined over the past few months and briefly turned negative during Friday’s market crash. Despite this decline, the rates subsequently rebounded to modestly positive levels, and market sentiment normalized again. It was observed that Bitcoin’s Estimated Leverage Ratio (ELR) dropped significantly, indicating that the derivatives market has undergone an overall deleveraging process. In addition, Bitcoin’s Stablecoin Supply Ratio (SSR) has fallen to its lowest level since April this year, a trend that suggests an increase in stablecoin liquidity relative to Bitcoin, which may signal enhanced potential buying power from over-the-counter markets. Overall, although the flash crash caused short-term pain, the recent collapse has effectively reset overall leveraged positions. Historically, such large-scale deleveraging events often herald significant long-term upward trends.

BlockBeats News, October 13, decentralized perpetual contract trading platform Grvt has released an updated airdrop allocation plan: the total share of community airdrops has now increased to 22% (previously 20%). In the first season, 10% of the share will be reserved for early adopters, and in the second season, the airdrop pool will be expanded to 12% to accommodate new users without diluting the shares of existing users. The token TGE is targeted for the first quarter of 2026.