The Oracle of Doom: Arthur Hayes, Ethena, and the Perilous Promise of the Basis Trade
I. The Signal in the Silence On the evening of August 25th, a quiet transacti...
Editorial
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CryptoStack
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2026-08-26
#Basis Trade
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Market Prices
BTC
Bitcoin
$83,340.1
+2.21%
ETH
Ethereum
$2,453.22
+2.85%
SOL
Solana
$106.44
+2.33%
BNB
BNB Chain
$745.9
+2.26%
XRP
XRP Ledger
$1.36
+4.83%
DOGE
Dogecoin
$0.0819
+3.57%
ADA
Cardano
$0.2250
+4.26%
AVAX
Avalanche
$9.67
+2.78%
DOT
Polkadot
$1.15
+1.20%
LINK
Chainlink
$12.32
+3.42%
Fear & Greed
63
Greed
Market Sentiment
Event Calendar
202630
04
upgrade
Celestia Mainnet Upgrade
Improves data availability sampling efficiency
28
03
unlock
Arbitrum Token Unlock
92 million ARB released
18
03
unlock
Sui Token Unlock
Team and early investor shares released
15
04
halving
Bitcoin Halving
Block reward reduced to 3.125 BTC
12
05
halving
BCH Halving
Block reward halving event
08
04
upgrade
Solana Firedancer
Independent validator client goes live on mainnet
22
03
unlock
Optimism Unlock
Circulating supply increases by about 2%
10
05
upgrade
Ethereum Pectra Upgrade
Raises validator limit and account abstraction
Market Cap
All →
1
Bitcoin
BTC
$83,340.1
1
Ethereum
ETH
$2,453.22
1
Solana
SOL
$106.44
1
BNB Chain
BNB
$745.9
1
XRP Ledger
XRP
$1.36
1
Dogecoin
DOGE
$0.0819
1
Cardano
ADA
$0.2250
1
Avalanche
AVAX
$9.67
1
Polkadot
DOT
$1.15
1
Chainlink
LINK
$12.32
Hot Tags
Tools
All →Altseason Index
40
Bitcoin Season
BTC Dominance
Altseason
Gas Tracker
Ethereum
28 Gwei
BNB Chain
3 Gwei
Polygon
42 Gwei
Arbitrum
0.5 Gwei
Optimism
0.3 Gwei
🐋 Whale Tracker
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12m ago
In
3,547.13 BTC
🔵
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30m ago
Stake
27,888 SOL
🟢
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30m ago
In
4,729,568 USDC
💡 Smart Money
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Top DeFi Miner
+$1.4M
68%
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Institutional Custody
+$2.3M
64%
0xed1b...ce06
Top DeFi Miner
+$3.1M
91%