Summary
- Global crypto market capitalization dropped 6.65% in 24 hours to $2.61 trillion.
- Bitcoin traded near $77,015, down 4.61% over the same period.
- Ethena's ENA token led major-coin losses, falling 11.16% to $0.187.
The broader crypto market lost roughly $186 billion in value over the past day, with total trading volume reaching $152.1 billion. Bitcoin's dominance held at 59.2% even as the token itself declined 4.6% to $77,015, a level that puts it on pace for one of its worst Octobers in twelve years. Ether fared similarly, dropping 4.1% to $2,241, while its share of total market value stood at 10.4%. The selloff followed disclosure of a $6.3 billion security breach at Binance, which prompted the exchange to pledge full reimbursement from its own funds and begin working with the FBI to recover roughly $3 billion in frozen assets.
Declines were widespread across large-cap tokens. BNB, Binance's exchange token, fell 6.1% to $699.06, while Solana dropped 6.6% to $94.34 and Hyperliquid's HYPE token slid 4.0% to $90.47. NEAR Protocol and Aave each lost roughly 5-6%, trading at $4.27 and $126.14 respectively. Among trending searches, Pearl fell hardest, down 13.6% to $1.56, while Derive and the Artificial Superintelligence Alliance token each dropped more than 7%.
Ethena's ENA token posted the steepest decline among major tokens tracked, falling 11.16% to $0.1872, extending losses tied to broader risk-off sentiment across decentralized finance tokens. Bittensor's TAO and Zcash's ZEC also featured among the day's biggest losers, down 8.0% and 6.7% respectively, with Zcash slipping to $1,234.28. MemeCore's native token fell 8.2% to $0.946.
Not every corner of the market moved lower. Beam, a gaming-focused token, surged 38.8% to $0.004749, standing out as the session's most notable gainer amid an otherwise negative trending list. Stablecoins also held their ground as expected, with TRON edging up 0.98% to $0.334 and dollar-pegged tokens including USDS, PayPal USD and Ondo's USDY posting marginal gains under 0.1%, reflecting their role as safe havens during the broader downturn.
The selloff adds to pressure already building from a wider pullback in technology stocks, which has coincided with gold prices falling to a one-year low. With crypto-linked equities also under pressure following the Binance disclosure, investors are weighing how quickly frozen funds can be recovered and whether confidence in exchange security will stabilize before further losses compound across digital-asset markets.