In the high-octane crypto world, market crashes are often swift and unexpected. On October 13, 2025, the crypto market experienced one such unexpected crash that wiped out over $25 billion in 24 hours, based on CoinGlass Data.
The selloff continued into October 14, 2025, with 210,874 traders liquidated for a total of $720.66 million as of writing this. According to the data, the single biggest liquidation of the day occurred on Binance for ETHUSDT, valued at $11.99 million.
Biggest Crypto Market Wipeout In History
The October 13, 2025, wipeout dwarfed all other previous crashes, with industry leaders calling for an investigation. One such voice was Kris Marszalek, Crypto.com CEO. The crash saw centralized platforms freeze, suspend withdrawals, and misprice assets.
One of the most notable aspects of the crash was that DeFi protocols like Aave and Uniswap came out relatively unscathed, handling crypto transactions without a hitch.
It is worth noting that the crash was bigger than the FTX collapse of 2022, which saw $1.6 billion wiped out from the crypto market. It also surpassed the COVID-19-driven $1.2 billion losses.
Global Trade War Tensions Trigger Market Crash
The likely trigger from the crypto market crash was Trump’s announcement of a 100% tariff on all Chinese imports starting on November 1, 2025. China retaliated, announcing restrictions on all rare earth mineral exports starting on December 1, 2025.
Given China’s 70% market share in the rare earth minerals industry, this sent shockwaves throughout the financial world. Following the announcement, Trump stated that it was a “moral disgrace” and even hinted that he might skip a planned meeting with President Xi at the APEC summit.
Around the same time, the CMC Crypto Fear and Greed Index dropped to around 31, signaling extreme fear in the crypto market. It has since bounced back to around 42, but the price has not recovered.
Zcash (ZEC) Shines Amid Market Downturn
Amid the extreme fear in the crypto market, and the price of Bitcoin (BTC) down over 10% from its October 6, 2025, high of $126,198.07, Zcash (ZEC) has bucked the trend. The price of ZE is up over 360% in the past month to $246.57 from around $51 a month ago. The market cap of ZEC experienced a massive surge in the same period, rising over $4 billion from less than $1 billion a month ago.
One major reason for the rising price of ZEC is an increase in privacy discussions. For instance, Google searches for “privacy coin” have experienced a significant increase in recent weeks. The growing interest in privacy coins and the privacy-enhancing features of Zcash (ZEC) has seen investors pour funds into the project.
To enhance privacy, Zcash uses privacy pools called shielded pools. In recent weeks, these transaction pools have seen an increase in deposits, which ultimately renders those deposits untraceable if they are shielded. As of October 14, 2025, 27.68% or around 4.5 million ZEC are shielded.
What Is Next For The Crypto Market?
Looking ahead, analysts are closely watching important technical indicators for BTC and ETH. If key support levels are reached, then the crypto market could be headed for a bigger crash. Conversely, for a resurgence to happen, there needs to be a rebuilding of confidence, a boost in liquidity, and the management of macro risks.
In the medium term, the crypto market performance will likely mirror the happenings in the overall financial markets as trade tensions between the US and China continue to dominate headlines.
Click Here for Updates on Zcash (ZEC) – It’s 100% FREE to Sign Up for Text Message Notifications!
Disclaimer: This website provides information about cryptocurrency and stock market investments. This website does not provide investment advice and should not be used as a replacement for investment advice from a qualified professional. This website is for educational and informational purposes only. The owner of this website is not a registered investment advisor and does not offer investment advice. You, the reader / viewer, bear responsibility for your own investment decisions and should seek the advice of a qualified securities professional before making any investment. Please read our Full Disclaimer: https://dexwirenews.com/disclaimer/
