If you thought the macroeconomic environment couldn’t get any shakier, news two big banks are possibly on the brink is fuelling stock market fears today. Bitcoin and crypto are anything but immune to this – will it wreck ‘Uptober’?

Rumours have been spreading far and wide across Twitter and beyond that both Credit Suisse and Deutsche Bank could be on the brink of collapse. These banking giants have about 2.7 trillion in assets under management between them.

Some are calling it another potential “Lehman Brothers moment”. The last time we heard that bandied about was late last year when fears surrounding the collapse of Chinese property developer Evergrande began to hit the mainstream.

It’s not as if this sort of speculation regarding these two banks is particularly new, but the fear, uncertainty and doubt is definitely circulating.

Anyhoo, onto some daily crypto price action and other happenings.


Top 10 overview

With the overall crypto market cap at US$955 billion and down about 2% since yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

And so the crypto market’s “Uptober” begins in earnest… with a dip. Hardly surprising when you take a look at what the S&P 500 and other major indices are doing.

Based purely on the historical data for Bitcoin performance in Octobers past, there is at least some kind of hope that we might see a better month for the crypto market. But the dismal larger financial picture globally has to be taken into account, and that’s clearly the driving narrative right now.


Uppers and downers: 11–100: Chainlink’s SWIFT news and more

Sweeping a market-cap range of about US$7.14 billion to about US$372 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)


Evmos (EVMOS), (market cap: US$451 million) +4%

• Maker (MKR), (mc: US$679 million) +3%

• Reserve Rights (RSR), (mc: US$413 billion) +3%

• PancakeSwap (CAKE), (mc: US$652 million) +1%

• TRON (TRX), (mc: US$5.6 billion) +1%



• Chiliz (CHZ), (market cap: US$1.17 billion) -9%

• Quant (QNT), (mc: US$1.73 billion) -6%

• Huobi (HT), (mc: US$539 million) -6%

• IOTA (MIOTA), (mc: US$767 million) -5%

• NEXO (NEXO), (mc: US$486 million) -5%


Around the blocks

A selection of randomness and pertinence that stuck with us on our morning moves through the Crypto Twitterverse…