Crypto’s Wild Ride: $1 Trillion Trading Frenzy & a Crash to Remember! 🚀💥

by

Markets

What to Know, or Pretend to Know:

  • On-chain crypto exchanges are now so busy they’ve clocked over a trillion dollars in trading-that’s enough to buy a small planet or at least a really fancy sandwich. 🥪
  • All this chaos lines up perfectly with the market throwing tantrums, especially on October 10th-cryptos decided to take a nosedive, and boy, did they crash harder than your cousin’s grandma at a rollercoaster park.

So apparently, these decentralized wonderlands called on-chain perpetual markets hit a record-shattering $1 trillion in total trades this month-up from the measly $739 billion of September, trying to keep up like a kid chasing a ice cream truck. This is the biggest monthly trade bash ever, according to DefiLlama (no, it’s not a new dance move).

Meanwhile, chaos reigned supreme on October 10th. Cryptos decided to do a dramatic nosedive, splattering $20 billion worth of liquidations across all exchanges-big ones, tiny ones, ones you’ve never even heard of. Hyperliquid, the whizz-bang king of on-chain perpetual DEXs, decided it was game over for 1,000 wallets-most of them losing enough to make your eyes pop out, with 205 wallets losing over a million dollars each. Yep, that’s a lot of money going “poof.” 💸💨

And just to keep things spicy, October 10th also saw trading volumes explode to a record-shattering $78 billion in a single day-making decentralized platforms look more attractive than grandma’s apple pie, even when she forgot the sugar. Traders sure seem confident, or maybe just brave-or foolish-taking high-leverage risks, trying to outdo even the most daring circus performers. It’s like decentralized exchanges are galloping closer and closer to the big centralized giants, racing like dogs chasing a rabbit on a rollercoaster. 🐕🎢

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2025-10-24 10:18