Choose Rich Live
Crypto News

Crypto market sheds up to $300 billion in October as 'Uptober' hopes fade

Cryptocurrency markets suffered steep losses throughout October, with industry outlets reporting between $250 billion and $300 billion wiped out as total market capitalization slid toward $2.57 trillion.

TradingView candlestick chart showing the total cryptocurrency market capitalization declining from roughly $2.9 trillion in early October to $2.57 trillion at month-end.
Image: @CoinGapeMedia

The cryptocurrency market suffered significant losses throughout October, undercutting seasonal expectations for an "Uptober" rally. Cointelegraph and CoinGape both reported that the month erased $300 billion from the market. Crypto commentator Crypto Rover separately reported that $250 billion was wiped out, characterizing the month as "UPtober turned into REKtober."[2][3][1]

A daily TradingView chart of the total crypto market cap shared by CoinGape illustrates the downward trajectory, showing the market descending from roughly $2.9 trillion in early October to approximately $2.57 trillion at the close of the month, with a late-month drop settling valuation at $2.57 trillion.[3]

A token market board shared alongside Crypto Rover's post showed red across broad segments of the market, with Bitcoin priced at $77,286.30, Ethereum at $2,241.43, BNB at $700.77, Solana at $95.74, and XRP at $1.2454.[1]

Key facts

  • Cointelegraph reported that October wiped out $300 billion from the crypto market.
  • CoinGape reported that October erased $300 billion from the market.
  • Crypto Rover stated that $250 billion was wiped from crypto during October.
  • A TradingView chart shows the total crypto market capitalization declining from roughly $2.9 trillion in early October to approximately $2.57 trillion by late October.
  • A market overview board displayed Bitcoin trading at $77,286.30, Ethereum at $2,241.43, and Solana at $95.74 amid wide market losses.

Sources · 3 sources

  1. CR

    Crypto Rover@cryptoroverPost on X ·

    🚨 CRASH: $250,000,000,000 wiped from crypto during "UPtober." UPtober turned into REKtober... https://t.co/HcRMdZppji

    Open source
  2. CO

    Cointelegraph@CointelegraphPost on X ·

    📊 MARKET: October wiped out $300B from the market. What happened to Uptober? https://t.co/MXWops2jUM

    Open source
  3. CO

    CoinGape@CoinGapeMediaPost on X ·

    📊 MARKET: October erased $300B from the market. So much for “Uptober.” What went wrong? https://t.co/PuirxKfyZe

    Open source