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All top ten cryptocurrencies, including Bitcoin and Ethereum, traded in negative territory, signaling investor caution across the board.
Reports revealed the Trump family earned over $1 billion from crypto ventures like World Liberty Financial and memecoins.
The Paxos $300 trillion minting error showcased blockchain’s transparency and ability to quickly correct internal mistakes.
Crypto prices today trade red as Bitcoin dropped below $109,000, and major altcoins like Ethereum, Solana, and XRP also fell. Investors are showing caution amid global economic worries and regulatory uncertainty. Analysts say this could be either a short-term dip in the ongoing bull run or the start of a larger correction. Let’s see how the crypto market performed in detail based on CoinMarketCap data.
Bitcoin price fell 2.12% to trade at $108,981.21, maintaining its position as the world's largest cryptocurrency with a market cap of $2.17 trillion. Trading volume reached $87.1 billion over the past 24 hours, with 19.93 million BTC in circulation. Despite the decline, Bitcoin continues to dominate the digital asset space.
Ethereum price decreased 2.32% to $3,923.93, with its market capitalization standing at $473.6 billion. The second-largest cryptocurrency saw trading volume of $49.4 billion, with 120.69 million ETH tokens in circulation.
Crypto prices today reflected bearish sentiment across major altcoins:
Solana price dropped 3.58% to $187.10, with a market cap of $102.3 billion and daily trading volume exceeding $10 billion. The network has 546.83 million SOL tokens in circulation.
Meanwhile, XRP price fell 2.85% to $2.35, maintaining its position in the top five with a market cap of $141.2 billion. Trading activity remained strong at $7.46 billion in 24-hour volume across 59.91 billion tokens.
On the other hand, BNB declined 3.06% to $1,147.34, holding a market valuation of $159.7 billion. TRON (TRX) down 1.36% to $0.3172 while Dogecoin (DOGE) fell 3.73% to $0.1899. At the same time, Cardano (ADA) declined 3.47% to $0.6493.
Among stablecoins, Tether (USDT) held steady at $1 with a slight 0.03% decrease, maintaining its $181.4 billion market cap. USD Coin (USDC) traded at $0.9998 with minimal movement and a market cap of $75.9 billion.
Major crypto news emerged today as the Financial Times revealed that President Donald Trump's family has earned more than $1 billion in pre-tax profits from cryptocurrency ventures over the past year. The Trump family's son Eric suggested the actual figure is ‘probably more.’
The bulk of these earnings comes from World Liberty Financial, a crypto company co-founded by Trump's sons that has sold billions in tokens and stablecoins. Trump himself disclosed $57.4 million in income from the project in June, and the family's stake jumped to $5 billion following a token unlock last month. Analysts estimate the family earned $550 million from World Liberty Financial this year alone.
Additional profits came from memecoins, including Official Trump (TRUMP) and Official Melania Meme (MELANIA), which generated hundreds of millions through sales and trading fees.
In related crypto news, several industry leaders attended a White House fundraiser dinner hosted by President Trump. The event aimed to raise funds for a proposed $250 million ballroom addition to the White House.
Gemini co-founders Cameron and Tyler Winklevoss attended alongside executives from Coinbase and Ripple Labs. The proposed ballroom would add roughly 90,000 square feet to the White House complex. Representatives from tech giants Meta, Google, Amazon, Microsoft, and defense contractor Lockheed Martin also participated.
The fundraiser took place during the 15th day of a US government shutdown affecting federal agencies nationwide.
A significant technical error made crypto news when Paxos mistakenly minted $300 trillion worth of PayPal USD (PYUSD) stablecoin on October 15. The company quickly identified the problem as an ‘internal technical error’ and burned the entire amount within 22 minutes. The incident occurred at 7:12 PM UTC on October 15, and blockchain observers spotted it almost immediately.
PYUSD briefly dropped 0.5% but maintained its dollar peg throughout. Lending platform Aave temporarily froze PYUSD trading as a precaution. Paxos confirmed that no security breach occurred and customer funds remained safe throughout the incident. This highlighted the blockchain’s safety capabilities, giving way to the argument that banks should adopt it quickly, as it offers better transparency than traditional systems.
OKX Australia CEO Kate Cooper noted that while mistakes occur in every financial system, blockchain makes them ‘visible, traceable, and quickly correctable.’ Cooper, a former banker, called the transparency ‘a strength, not a flaw’ and suggested it builds trust while strengthening governance in financial systems. Eco CEO Ryne Saxe agreed, stating this level of real-time transparency and coordination doesn't exist in today's central banking economy.
Also Read: Crypto News Today: Binance Secures South Korea’s Approval for Gopax Takeover
Crypto prices today remain under pressure as investors watch for signs of stabilization. The market's direction will likely depend on broader economic conditions, regulatory developments, and institutional adoption trends. Trading volumes suggest continued interest despite the pullback, indicating markets remain active and liquid.
1. Why was the crypto market down today?
The decline happened due to a combination of factors, including global economic uncertainty, ongoing regulatory discussions, and cautious investor sentiment. Analysts believed these elements triggered widespread sell-offs across digital assets.
2. What was the Bitcoin price today?
Bitcoin’s price dropped 2.12% to $108,981.21, marking a significant decline that brought its market capitalization to $2.17 trillion. Despite the dip, trading volumes remained high, reflecting strong investor interest.
3. Which cryptocurrencies were the biggest losers today?
Bitcoin, Ethereum, Solana, XRP, and BNB saw the biggest losses. Solana dropped 3.58%, XRP fell 2.85%, and BNB declined 3.06%, all reflecting broader bearish sentiment across the altcoin market.
4. What happened with the Paxos $300 trillion minting error?
Paxos accidentally minted $300 trillion worth of PayPal USD (PYUSD) stablecoins due to an internal technical glitch. The error was resolved within 22 minutes, with all excess tokens burned and no user funds affected.
5. What are analysts predicting for the crypto market ahead?
Analysts suggested that while short-term volatility might continue, trading volumes indicated ongoing market interest. The next trend would likely depend on regulatory clarity, global macro conditions, and institutional adoption.
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