Jupiter Lend Under Stress: Analyzing the October 10 Liquidation Event

Mon, 05 Oct 2026 09:00:00 -0400

On October 10, 2025, U.S. President Donald Trump announced that the U.S. would impose an additional 100% tariff on Chinese imports. This announcement was followed by a rapid market selloff: over the course of October 10, the price of ETH fell as much as 12% and SOL fell as much as 24%.

The wave of selling ultimately triggered $19B in liquidations across derivative markets. But how did this affect other venues that offer leverage, like credit markets?

The DeFi Lending Endgame

Tue, 14 Jul 2026 09:00:00 -0400

Lending is one of the oldest functions in finance. A lender lets a borrower turn $1 of collateral into more than $1 worth of financial exposure while charging interest for it. Homeowners do this with a home equity line of credit (HELOC), and options traders do this with margin. The modern economy relies on credit for various financial functions demonstrating a clear product-market fit.

Crypto performs the same function through lending protocols. A user deposits an asset, borrows against it, and pays interest on the loan. Aave, the leading lending venue, accepts USDC, EUR, and gold-pegged assets as collateral and intermediates ~$10B in active loans. The base primitive supports cash-and-carry trades and long and short positions, and it has grown into curated vault products through protocols like Morpho which recently integrated with Coinbase. In structure these venues now resemble global FX markets.

Research on Kai | Technical Writer & Data Analyst

Jupiter Lend Under Stress: Analyzing the October 10 Liquidation Event

The DeFi Lending Endgame