Summary
- Total crypto market capitalization fell 2.25% in 24 hours to $2.62 trillion.
- Bitcoin traded near $77,292, down 0.47% on the day.
- TRON fell 7.14% to lead losses among major tokens.
The global cryptocurrency market capitalization stood at $2.62 trillion as of early Friday, down 2.25% over the prior 24 hours, as traders absorbed news of a $6.3 billion security breach at Binance. Bitcoin dominance held at 59.2% of the total market, with the token itself trading at $77,291, a decline of 0.47%. Ethereum fared slightly better, up 0.90% to $2,240, as it maintained a 10.4% share of overall market value. The pullback follows a stretch of weakness that has pushed Bitcoin toward what could be its worst October performance in twelve years, a decline that has coincided with a broader downturn in technology stocks and a drop in gold prices to a one-year low.
The Binance hack, among the largest in exchange history, has driven much of the day's volatility. Stablecoin issuers including Tether and Circle moved to freeze portions of the stolen funds as attackers attempted to convert assets into tokens that could not be immobilized, with roughly $3 billion reportedly frozen so far. The episode has also weighed on crypto-linked equities, with shares of Coinbase, Circle and Strategy falling sharply in the aftermath of the disclosure.
Despite the market-wide retreat, several tokens posted notable gains. Infinity Ground's AIN token surged 77.2% to $0.2644, the standout mover among trending searches, though its market cap rank of 452 points to a thin, speculative trading base. NEAR Protocol climbed 4.83% to $4.32, and Pudgy Penguins' PENGU token rose 4.33% to $0.00734. Among more established names, Ondo led the top gainers list with a 6.38% advance to $0.4111, followed by Chainlink, up 5.44% to $11.49, and Quant, which gained 5.85% to $193.65.
On the losing side, TRON suffered the steepest decline among major cryptocurrencies, falling 7.14% to $0.327. MemeCore dropped 5.62% to $0.953, while Rain fell 4.50% to $0.00627 and Monero slid 3.20% to $589.06. Akedo, a smaller-cap trending token, posted the sharpest loss of the day across all tracked assets, plunging 41.01% to $0.01165.
Hyperliquid's HYPE token, the top-ranked trending search by market capitalization at rank 11, slipped 2.71% to $89.56, underscoring that even actively discussed tokens were not immune to the day's broader selling pressure. With total 24-hour trading volume data unavailable in current figures, the extent of liquidity behind these moves remains unclear, though the breadth of the decline across both large-cap and speculative tokens suggests risk aversion has spread beyond assets directly tied to the Binance incident.