24 Hour Crypto Recap: Here’s What Happened in the Market

• CoinDCX will absorb the 15.99 million USDT loss from an abandoned legacy wallet. 
• Sen. Lummis said the CLARITY Act caps Reg Crypto raises at $50 million per year. 
• The Ethereum Foundation swapped 2,785 ETH for $6.42 million in USDS via CoWSwap.

The global crypto market cap fell 2.5% to $2.736 trillion over the past 24 hours, with trading volume down 18.2% to $46.298 billion. Bitcoin traded at $79,809.96, down 1.6% on the day and down 3.8% over the past week. 

Ethereum changed hands at $2,309.73, down 2.7% in 24 hours and down 5.1% over seven days. BNB fell 1.2% to $738.64 but remains up 1.2% weekly. XRP declined 2.6% to $1.28, down 2.7% over the week. Solana dropped 2.2% to $100.53, down 5.0% over seven days.

CoinGlass data showed $109 million in liquidations over 24 hours, with shorts at $63.4309 million and longs at $45.5046 million.

Trending Searches

The evmzone token led trending searches, down 20.6% to $0.01453. Bitcoin followed at $79,793.24, down 1.3%, and Quantus fell 6.1% to $72.61. Among top gainers, Big Titty Coin surged 114.8% to $0.02044, TronBank climbed 64.7% to $0.3055 and Pepina rose 50.7% to $0.03403.

ETF Products and Network Launches

Franklin Templeton plans to launch an ETF that holds US stocks and reinvests their dividends in Bitcoin, targeting a 5% Bitcoin allocation. The South China Morning Post reported that Anchorpoint, a stablecoin joint venture led by Standard Chartered, plans to issue a retail stablecoin on a public blockchain.

BNB Chain outlined a new L1 that will run alongside BSC through a native bridge. The new chain will use BNB for gas, staking and governance instead of issuing its own token. A testnet is planned by the end of 2026, with mainnet in early 2027. CZ described the design as multiple chains running on one token.

Related: Ethereum Price Analysis: ETH Tests $2,352 Support as Futures Leverage Falls 15.95%

Regulation and Policy

Senator Cynthia Lummis said the CLARITY Act now includes two Democratic requests. One cuts the annual Regulation Crypto fundraising cap from $75 million to $50 million, and the other adds a $200 million lifetime limit. California’s Department of Financial Protection and Innovation filed a letter opposing the SEC proposal. The department said the plan could weaken investor protection and limit state review of offerings.

South Korea’s Blue House is leaning toward a fourth delay of the 22% virtual asset income tax due January 1, 2027. The office said in a written response that no decision has been made. Ruling party lawmaker Park Min-kyu has introduced an amendment that would push the tax to 2029.

CoinDCX Loss and Whale Activity

CoinDCX said it will absorb a loss of 15.99 million USDT from a legacy wallet abandoned after a July 2025 breach, and that user funds are safe. Salus reported that Tether froze 2,212,850.3 USDT across nine addresses linked to the incident.

Onchain Lens said Arthur Hayes has received 49.24 million USDC from exchanges and market makers after recent token sales. The Ethereum Foundation swapped 2,785 ETH, worth about $6.42 million, for USDS through CoWSwap.

Related: Bank of Israel Rejects Netanyahu’s Crypto Plan to Evade Sanctions

Market Structure Signals

Darkfost said 30-day cumulative retail BTC inflows to Binance rose from $5.5 billion to $10.75 billion, a six-month high, while whale deposits kept falling. Data also showed Binance ETH open interest down $1.3 billion over the past month to $5.7 billion.

Bitcoin’s 30-day high-low spread has narrowed from 13% to 6%. Adler identified $86,000 as resistance and the 365-day simple moving average as support.

Macro and Week Ahead

Musk said SpaceX completed $40 billion in debt financing to buy GPUs, after Bloomberg reported the plan had stalled amid credit market volatility. Goldman Sachs cut its 12-month KOSPI target to 9,000 from 12,000. The Fed announces its rate decision at 11:30 p.m. IST on October 28, followed by Chair Warsh’s press conference.