Cryptocurrency prices declined on Thursday, October 29, 2026, after reports surfaced regarding a potential multibillion-dollar exploit involving Binance wallets. The total market capitalization decreased by 3.3% as news of suspicious wallet activity created uncertainty among investors.
BNB dropped over 7% to $690.44 following the incident. Major assets also registered steep losses, with Bitcoin sliding 5.75% to $77,285.47 and Ether dropping 7.54% to $2,220.57.
Other tokens experienced declines, including ZEC falling 11.79% to $1,213.97, XRP dropping 9.69% to $1.22, and XLM dipping 9.11% to $0.1601. The market update was written by Nate Kostar and edited by Bryan O Shea.
For traders holding open perpetual futures positions, this report changes nothing directly regarding exchange funding rates or fee rules. While spot price declines affect position values, the news contains no specific updates concerning perpetual contract mechanisms or platform liquidity.
Source: cointelegraph — Binance hack rattles crypto markets as BNB falls 7%, Bitcoin slides