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No results1Bitget Daily Digest（October 11）｜Trump Announces 100% Tariffs on China, Triggering Market Turmoil; Crypto Industry Liquidations Exceed $19.1 Billion in 24 Hours, Setting New Record.2Bitcoin slump may rebound up to 21% in 7 days if history repeats: Economist3US–China Tariff Fears Hit Bitcoin Treasury Stocks
Flash
- 10:58Ethereum network revenue in the past 24 hours reached $9.89 million, surpassing Circle to rank secondAccording to Jinse Finance, data from DefiLlama shows that Ethereum network revenue over the past 24 hours reached $9.89 million, surpassing Circle ($7.83 million) and ranking second, only behind Tether ($22.8 million).
- 10:10Multichain staking platform Cryptomesh completes $2.5 million Series A financingJinse Finance reported that the multi-chain staking platform Cryptomesh has announced the completion of a $2.5 million Series A funding round, with investor information yet to be disclosed. The platform currently supports 10 major blockchain networks, including Ethereum (ETH), Optimism (OP), and others. The new funds are intended to upgrade infrastructure and expand DeFi staking scale.
- 09:34Ethena Labs founder: Still believes USDe pegging to USDT is reasonable; minting and redemption did not go down during market turbulenceJinse Finance reported that the founder of Ethena Labs posted on X, stating: The oracle attempts to identify two different scenarios: one is a temporary mispricing in the secondary market, and the other is a permanent devaluation of collateral. The latter has never occurred with USDe, and for most assets including USDe, the likelihood of such an event is much lower. Although DeFi money markets have been heavily criticized for anchoring USDe to USDT, we do believe this approach is reasonable, as it can prevent liquidations caused by temporary price imbalances. Ethena provides on-demand proof of reserves to a select few entities, some of which are also oracle providers, including Chaos Labs and Chainlink. During this week’s market volatility, Ethena’s minting and redemption functions did not experience downtime. Major liquidity venues on-chain, such as Curve, Uniswap, and Fluid, experienced price misalignments, but over $9 billions in on-demand stablecoin collateral was available for immediate redemption, with only a small portion actually utilized.