Ether, BNB and Solana led as the crypto market powered back up after Friday’s flash crash, with crypto treasury firm BitMine capitalizing on the dip. Total crypto market capitalization soared back over $4 trillion on Sunday, with Ether, BNB and Dogecoin posting double-digit gains after Friday’s market crash that wiped out nearly $500 billion in crypto value. The three blue-chip coins have surged 10.5%, 13.6% and 12.5% over the last day, while Solana (SOL), Cardano (ADA), and Chainlink (LINK) are also up over 10%, CoinGecko data shows. Synthetix (SNX) briefly rose over 100% — eclipsing its pre-crash price level and even setting a new 2025 high — while a few other smaller-cap coins like Mantle (MNT) and Bittensor (TAO) increased over 30%. Read more
ETH price sharply recovered as market fears eased and derivatives stabilized, suggesting that a return to $4,500 could be Ether’s next stop. Key takeaways: ETH’s perpetual contract distortions are fading, with monthly futures signaling neutral conditions and reduced short-term market fear. Options markets show balanced demand between bullish and bearish strategies, reflecting a healthy derivatives market. Read more
The tokens did not actually crash to $0, but users saw tokens drop to nearly $0 due to a 'display' issue, the Binance exchange said. Crypto exchange Binance issued an update to users after several tokens on the platform apparently crashed to $0 in the wake of Friday's market meltdown, saying that the tokens did not actually crash, but showed a $0 price to users due to a “display issue.” Several altcoins appeared to crash to $0 on Binance during Friday’s market turmoil, including IoTeX (IOTX), Cosmos (ATOM), and Enjin (ENJ), despite the tokens staying well above $0 on other centralized crypto exchanges. The tokens did not actually lose 100% of their value on the platform, according to an announcement from Binance on Sunday. Binance explained: Read more
Tensions between the two countries appear to have cooled off on Sunday, as representatives from both sides signal a willingness to negotiate. Trade tensions between the US and China appear to be softening, as representatives from both governments issued statements on Sunday that signaled a willingness to resume trade negotiations, giving analysts hope of a market rebound. In a translated statement, China’s Ministry of Commerce said it is “ready to strengthen dialogue” with other countries on trade and the recently announced rare earth mineral export controls that inflamed trade tensions between the US and China. The spokespeople also said China would “actively consider” provisions in the rare earth export policy to facilitate trade and strengthen supply chains, including “license exemptions.” US President Trump issued this statement on the same day: Read more
Ethena founder Guy Young said the USDe depegging event on Binance that sent the token to $0.65 was an isolated issue not tied to fundamentals. The USDe synthetic dollar depegged on the Binance crypto exchange due to an internal oracle issue and not because of the underlying collateral, the Ethena protocol, or the token itself, according to Guy Young, the founder of Ethena Labs, the creator of USDe. USDe minting and redeeming worked “perfectly” during Friday’s flash crash, he claimed; $2 billion in USDe was redeemed during 24 hours across crypto exchanges, including Curve, Fluid, and Uniswap, with minimal price deviations of 30 basis points (BPS) or less, Young said. The price of USDe fell from about $1 to $0.65 on Binance during the crash because the exchange was using oracle data from its own orderbook, which had thinner liquidity, rather than an external price feed, Young said. He added: Read more