Bitcoin Inu (tokeninu.xyz) (BTC)

CMC Market Pulse: The Mass Depeg

BTC -4.12%, ETH -7.83%. Market cap slides to $2.07T as msY, sUSD, and MIM all break pegs in the same week. Strategy overhang continues to weigh on crypto.

Let's break down this week's top crypto narratives https://t.co/PX4VmUM0K1

> Crypto mcap down 4.17% to $​2.07T. BTC -4.12%, ETH -7.83%.
> $1.3B in long liquidations over two days as BTC fell below the $60K level.
> Funding rates keep rising despite the drawdown, with traders calling for an early bottom.
> Strategy raises $1.1B through MSTR share sales and buys 520 BTC, total holdings now 847,363 BTC.
> NYSE parent ICE and OKX form a joint venture for tokenized and digitally native financial products.
> Coinbase secures its MiCA license from Luxembourg, unlocking all 27 EU states.
> S&P -1.73%, Nasdaq -2.71% as equities bleed despite Micron's earnings beat.
> Altcoin winners: SYN, DEXE, DATA, BEAT, MET, DYDX.

Narrative of the Week: The Mass Depeg

> Main Street yield token msY depegs over 70% as users question its reserves, cascading contagion across Morpho, Altura, and more.
> Synthetix announces plans to wind down sUSD, depegged for over a year, with redemption in SNX subject to a lock-up.
> Spell's MIM stablecoin depegs by more than 45%; the team raises rates, halts incentives, and pauses Curve bribes until the peg is restored.
> No exploits, just thin liquidity and broken confidence, a structural problem for DeFi stables.

3/6

Major Project Updates:

> Ethlabs, a new Ethereum-focused non-profit R&D lab, emerges from stealth with backers from the Ethereum Foundation and leading L2s.
> Axelar bridge between Secret Network and Axelar exploited for $4.67M.
> Sonic Labs leadership reshuffle: Michael Kong, Andre Cronje, and David Richardson resign from the board.
> Taiko bridge exploited for $1.7M after a signing key was committed to GitHub; users to be made whole.
> Cardano wallet SecondFi exploited for ~16M ADA, with 129M ADA secured via whitehat operations.

4/6

DeFi Brief:

> Uniswap introduces token auctions on the Uniswap Web App, taking direct aim at launchpads like pump.fun.
> Spark launches the Stablecoin FX Layer with Uniswap to share liquidity across stablecoins instead of isolating it in pools.
> MEV bot jaredfromsubway exploited for $7.7M via fake wrapper tokens and unlimited spending approvals.
> Goldfinch winds down on-chain private credit operations after overwhelming loan defaults.
> Fundraises: Fomo ($75M Series B), Allium ($40M Series B), Onyx Odds (Series A at $220M valuation), Ornn ($33M seed).

5/6

Key Takeaways:

> BTC -4.12%, ETH -7.83%: mcap slips to $2.07T as the Strategy overhang continues to weigh on crypto
> Mass depeg week: msY, sUSD, and MIM all break peg with no exploits — just thin liquidity and broken trust
> Exploits keep stacking: Axelar, Taiko, SecondFi, and jaredfromsubway all hit
> Goldfinch winds down as on-chain private credit defaults pile up

Stay informed, Stay ahead:

https://t.co/IyAELXTCwL