Category: Bitcoin News

BNB Chain Sets Record 3.46M Daily Active Addresses

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Daily active addresses on BNB Chain hit an all-time high on Monday, as the blockchain’s native token reached a new price record.  Analytics platform Nansen revealed that sender-only active addresses on BNB Chain — addresses that sent a transaction, excluding internal address transfers — reached a new all-time high of 3.46 million on Monday, passing the previous record of 3.44 million in December 2023.  Nansen data also showed that in the last 30 days, the number of successful transactions on BNB Chain passed 500 million, surging 151% from the previous…

$19B Crypto Market Crash: ‘Controlled Deleveraging’ Not ‘Cascade’

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Friday’s record $19 billion crypto market liquidation event has left traders divided, with some accusing market makers of a coordinated sell-off while analysts pointed to a more natural deleveraging cycle. Friday’s flash crash saw open interest for perpetual futures on decentralized exchanges (DEXs) fall from $26 billion to below $14 billion, according to DefiLlama. Crypto lending protocol fees surged past $20 million on Friday, the highest daily total on record, while weekly DEX volumes climbed to more than $177 billion. The total borrowed across lending platforms also dropped below $60…

Metaplanet Misses Bitcoin Buys As mNAV Dips Below 1

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Metaplanet, a Japanese Bitcoin treasury company, saw its enterprise value fall below the value of its Bitcoin holdings and entered uncharted territory as one of the world’s biggest public holders of the asset. Metaplanet’s market to Bitcoin NAV (mNAV) — a ratio between the company’s value and its Bitcoin (BTC) holdings — dropped below 1 on Tuesday, reaching 0.99 for the first time on record, according to official data. The metric has dropped by more than seven points since mid-June, as the Metaplanet stock (3350) lost 75% of its value,…

Analysts Predict Altcoin Rally After Weekend Market Crash

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Crypto analysts speculate that the massive weekend leverage flushout, which wiped billions of dollars from the crypto markets, may have just paved the path for “altseason 3.0.” “Every major expansion in crypto has included sharp 30% to 60% resets along the way,” observed analyst and researcher “Bull Theory” on Monday. March 2020 saw almost 70% wiped off markets in the pandemic-induced black swan event, and May 2021 saw more than 50% wiped out. There were at least five other 30% to 40% altcoin slumps during the last bull market cycle. …

Unencrypted GEO Satellite Data Can Be Intercepted for $600

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Geosynchronous satellites, which send internet and phone data to places where regular cables can’t reach, are broadcasting sensitive data that anyone with about $600 worth of equipment can intercept, a team of researchers has found.  A team of six academics from the University of Maryland and the University of California stated in a paper published on Monday that a “shockingly large amount of sensitive traffic” is being broadcast unencrypted across the satellite network in plaintext.  This includes cellular communication encryption keys, citizens’ SMS and even traffic for military systems and…

Alleged Hyperliquid Whale Denies Insider Trading with Trumps

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Garrett Jin, the former CEO of now-defunct cryptocurrency exchange BitForex, has denied many of the claims levied against him by a pseudonymous online sleuth that involved shorting the market. In a Monday X post, Jin said he had “no connection with the Trump family,” denying allegations of insider trading after crypto researcher Eye claimed he controlled a wallet address used by a whale to short Bitcoin (BTC). The wallet was used to open a short position less than an hour before US President Donald Trump announced “a tariff of 100%…

Binance Launches $45M Reload Airdrop After Record $20B Crash

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BNB Chain has launched a $45 million “reload airdrop” aimed at compensating users who suffered losses trading memecoins during Friday’s market crash. The initiative will distribute BNB (BNB) tokens to more than 160,000 eligible addresses, the network said Monday. Aidrops will begin this week and be completed by early November. BNB Chain is a blockchain network developed by Binance that is now maintained by a decentralized community. It powers the ecosystem’s native BNB token and supports applications across DeFi, gaming and digital assets. According to Binance’s founder and former CEO…

Centralized Exchanges Underreport Liquidations: Hyperliquid CEO

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Hyperliquid co-founder and CEO Jeff Yan claimed that the way centralized crypto exchanges, and Binance specifically, report liquidation data likely underrepresents the true scale of losses during major market sell-offs. Bitcoin (BTC) fell to $102,000 on Friday after US President Donald Trump announced sweeping tariffs on China. Ether (ETH) also dropped to $3,500, while Solana (SOL) slipped below $140 amid a marketwide sell-off. According to data from CoinGlass, $16.7 billion worth of long positions and $2.46 billion in short positions were liquidated on Friday, marking the largest liquidation event in…

Solana DEXs Must Focus On Building Resilient Markets

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Opinion by: Lynn Nguyen, CEO of Saros Decentralized exchanges (DEXs) on Solana have been topping trading volume charts for a while now, outperforming those on peer chains like Ethereum, Base and BSC. Memecoins have been largely responsible for this surge in volume. While they have proven product-market fit in crypto, only a handful have demonstrated the ability to survive across market cycles.  If they are to retain their dominance, Solana DEXs must also show that they can endure constantly evolving market conditions and short-term trends.  This also means building more…

Bitmine Buys 2.5% of ETH supply, Scoops Up $827M Post-Crash

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BitMine, the world’s largest corporate Ether holder, capitalized on this weekend’s crypto market crash to buy the dip, signaling more institutional confidence in Ether’s continued momentum. The company said it acquired Ether (ETH) “more aggressively” during the market turmoil, pushing its total holdings past 3 million ETH, or about 2.5% of the cryptocurrency’s total supply. BitMine’s average purchase price was $4,154 per token. Over the past few days, BitMine acquired 202,037 ETH, worth about $827 million, the company said in a Monday X post. That brought BitMine’s total holdings to…