Tag: Crash

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…

XRP Rises to $2.60, Paring Most Losses From Flash Crash: Is the Worst Over?

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Key takeaways: XRP rebounded 66% from $2.58 lows, adding $75 billion to its market cap amid a 35% volume surge and strong long positions. Oversold weekly Stoch RSI signals a potential bullish reversal. The XRP price must overcome resistance at $2.70-$2.96 before the next leg up. XRP (XRP) dipped below the $2 mark on Friday, hitting a 10-month low of $1.58 on Bitstamp after US President Donald Trump’s announcement of 100% tariffs on Chinese imports sent shockwaves across the crypto market. XRP price has, however, recovered most of its losses.…

BNB Hits Record High As Traders Blame Binance For Crypto Market Crash

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Binance’s ecosystem token BNB reached a new all-time high on Monday, outperforming the wider cryptocurrency market, which is still recovering from $19 billion in liquidations over the weekend. The BNB (BNB) token rose to a new all-time high of $1,370 on Monday, according to CoinMarketCap data, rebounding strongly after a weekend crash that triggered the forced liquidations across exchanges. The rally came despite heavy criticism from Binance users who blamed the exchange for contributing to the market chaos after technical glitches left traders unable to exit positions. BNB/USD, seven-day chart.…

Mantle, Ethereum L2s Outperform Crypto Rally After $19B Crash

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Ethereum scaling tokens outperformed most of the cryptocurrency market after the weekend crash, signaling stronger price resilience among layer-2 (L2) projects built on the world’s largest smart contract network. Ethereum layer-2 scaling solution Mantle (MNT) had a 31% rebound on Monday, becoming the third-biggest gainer among the 100 largest cryptocurrencies tracked by CoinMarketCap. The Arbitrum (ARB) and Immutable (IMX) tokens also registered double-digit gains, while the Polygon (POL) token had an 8% rebound in the 24 hours up to the time of writing. Some analysts are pointing to the MNT…

ETH Aims For $4.5K Just Days After Historic Flash Crash

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Key takeaways: ETH’s perpetual contract distortions are fading, with monthly futures signaling neutral conditions and reduced short-term market fear. Options markets show balanced demand between bullish and bearish strategies, reflecting a healthy derivatives market. ETH outperformed most altcoins during the crash and the following 48 hours, reinforcing its relative strength and bullish momentum. Ether (ETH) price reclaimed the $4,100 level on Sunday, easing some of the pain from Friday’s sharp 20.7% flash crash. The $3.82 billion in leveraged long liquidations left a lasting mark on ETH derivatives markets, but four…

Why Did Some Altcoins on Binance Crash to Zero?

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Key takeaways Some altcoins, including Cosmos’s ATOM token, briefly fell near zero on Binance during Friday’s crypto market crash. The same altcoins held real market value on other centralized crypto exchanges. On Oct. 10, the cryptocurrency suffered its most severe downturn since the FTX collapse, with the total market capitalization dropping by approximately $850 billion within hours. Bitcoin (BTC) fell around 10–15%, from highs near $124,000 to lows of $105,000. However, altcoins fared far worse, especially those traded on Binance, with many plunging 99.99-100% in minutes. That includes tokens like…

Market Crash Caused by Perfect Storm of Short-Term Factors: Analysts

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The sudden market crash on Friday, which caused some cryptocurrencies to decline by as much as 95% in under 24 hours, does not signal a long-term bearish outlook or deteriorating fundamentals, according to investment analysts at The Kobeissi Letter. Friday’s market meltdown was triggered by a perfect storm of short-term factors, including “excessive leverage and risk,” and US President Donald Trump’s announcement of 100% tariffs on China, the analysts wrote.  The Kobeissi letter cited the market’s heavy long bias, with $16.7 billion in long positions liquidated compared to just $2.5…

ETH Down Only 6.7% Following Friday’s Crypto Market Crash

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Ether (ETH), the native cryptocurrency of the layer-1 Ethereum blockchain network, is down about 6.7% in the past 24 hours, following Friday’s market crash, showing greater price resilience than many altcoins, which crashed by over 95% in some cases. The market crash sparked by US President Donald Trump’s tariff announcement took the price of ETH down to a low of about $3,510 on Friday, a decline of over 20% in a single day. Price tapped the 200-day exponential moving average (EMA), a dynamic support level, before rebounding to over $3,800.…

Crypto investor Konstantin Galish found dead in Lamborghini amid market crash

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Key Takeaways Konstantin Galish (Kostya Kudo), a prominent Ukrainian crypto investor and influencer, was found dead in a Lamborghini during a severe crypto market crash. His death highlights rising concerns about the mental health of crypto traders and influencers, especially during periods of intense market volatility. Share this article Konstantin Galish, a Ukrainian crypto blogger and trader known online as Kostya Kudo, was found dead in a Lamborghini today amid a severe cryptocurrency market downturn. The incident occurred as digital assets experienced extreme volatility, intensifying ongoing discussions about mental health…

Bitcoin Crash May Rebound In Coming Days If History Repeats

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Bitcoin’s price may recover up to 21% over the coming seven days if October’s historical trends hold, an economist suggests. “Drops of more than 5% in October are exceedingly rare.  This has happened only 4 times in the past 10 years,” economist Timothy Peterson said in an X post on Friday.’ He said those instances occurred in October 2017, 2018, 2019, and 2021. In the week following each drop, Bitcoin (BTC) rebounded by 16% in 2017, 4% in 2018, and 21% in 2019. The only exception was 2021, when the…