US Crypto Stocks Fell Across the Board Last Night, CRCL and BMNR Dropped More Than 10%

On October 11th, according to GMGN data, the Chinese-named Meme token "Hakimie" has exceeded a market capitalization of 87 million US dollars. It is currently trading at 78 million US dollars, with a 24-hour price increase of 160% and a 24-hour trading volume of 63 million US dollars. BlockBeats reminds users that Meme coins often lack practical use cases and experience significant price volatility. Therefore, investment should be approached with caution.

On October 11th, the cryptocurrency analyst @ali_charts shared a market analysis today. He pointed out that we have witnessed the largest-scale liquidation event in the history of cryptocurrencies. This can only be described as a complete flash crash. Approximately $19.3 billion worth of positions were liquidated in a single day, affecting around 1.66 million traders. Many assets witnessed significant intraday declines and then some rebounds. However, the scale of this sell-off has raised serious questions about the position of the market in a broader cycle. By looking into historical data, the most recent similar event occurred at the end of 2021 when Bitcoin was at its peak around $69,200. The flash crash in December 2021 wiped out more than 24% of the market capitalization in a single daily candle. This event was later proved to mark the beginning of the subsequent bear market. Today's Bitcoin daily candle shows a peak-to-trough drop of around 17%, which is strikingly similar in sc

On October 11th, as per Bloomberg, the Believers-backed RWA tokenization platform Securitize is engaged in discussions with a special purpose acquisition company (SPAC) sponsored by Cantor Fitzgerald LP regarding a potential listing. People with knowledge of the matter disclosed that the merger between Securitize and Cantor Equity Partners II Inc. would appraise the company at more than $1 billion. Nevertheless, negotiations are still in progress, and Securitize may also decide to remain private.

On October 11th, according to the monitoring of LookOnChain, during today's market crash, four traders on Hyperliquid were liquidated. Each of them lost more than $10 million. ? 0x1a67 lost $18.73 million and the account was emptied completely. ? 0x1d52 lost $16.43 million and was left with only $140. ? 0x0a07 lost $15.69 million and was left with only $104. ? 0xb2ca lost $13.72 million and the account was emptied completely.

On October 11th, according to on-chain analyst Ai Auntie (@ai_9684xtpa), "The whale that has been continuously shorting BTC since March 2025 and has a cumulative unrealized loss of $21.31 million" turned losses into gains after holding the position for seven months. This morning, when BTC dropped to a low of $102,000, the whale was able to turn losses into gains and achieve a 24-hour profit of up to $26.52 million. Currently, the whale has taken profits on nearly 40% of the short positions and still holds 1,300 BTC ($144 million).

On October 11, Andrei Grachev, the managing partner of DWF Labs, stated: "If your project or business has been impacted by a recent flash crash, DWF Labs is willing to offer assistance. We can provide help to affected projects in various ways, such as capital infusion, investment, loans, or token buybacks."