Amid the significant turmoil in global cryptocurrency markets, which experienced one of the most severe sell-offs in recent history, a select few crypto stocks saw positive movement on October 10, notably Eightco Holdings (NASDAQ: ORBS), whose shares rose by 16.6% while both Bitcoin and Ethereum plummeted by double digits.
As per SoSoValue, the overall crypto market capitalization fell by 9.46%, reaching $3.84 trillion. This included Bitcoin (BTC) dropping below $112,500 and Ethereum (ETH) dropping over 12% to $3,816.
Most major crypto equities tumbled, including Coinbase (COIN) and Marathon Digital (MARA), as panic selling was triggered by Donald Trump’s imposition of 100% tariffs on China, leading to the liquidation of over $19 billion worth of positions across the sector.
Related: Binance to reimburse users following technical issues during $19B market crash
In contrast, Eightco Holdings emerged as a distinctive victor.
Operating under the ticker ORBS, the company soared 16.59% to $9.84, with trading volume hitting $164 million.
Eightco Holdings, which functions within the digital commerce and blockchain infrastructure sectors, specializes in tokenized loyalty programs and retail payment solutions, effectively bridging the gap between traditional Web2 enterprises and blockchain innovation.
The company is also delving into AI integrations and data tokenization strategies for e-commerce partners, topics that continue to attract investor interest despite the ongoing market fluctuations.
Related: An overview of tokenization
The stock price of Eightco Holdings surged following the announcement of a new pilot project focusing on AI authentication, designed to improve enterprise security and digital identity verification.
Supported by significant investors such as Kraken, CoinFund, and Brevan Howard, this initiative positions Eightco as a prospective trust layer for AI systems on a global scale.
-
Tragic news: Crypto trader takes their life during market downturn
-
Binance to offer compensation to users after system glitch during $19B crash
Eightco Holdings launched on September 11 and rebranded its ticker to ORBS shortly after securing $270 million to initiate a Worldcoin-centered treasury strategy and transition toward AI-driven identity solutions.
Originally established in 1966, the company, previously known as Cryptyde, Inc. until its name change in April 2023, is engaged in e-commerce cash flow, inventory administration, and custom packaging across North America and Europe.
The decline in crypto-linked stocks reflected the significant losses in digital assets during the week, as nearly all major blockchain firms, exchanges, and Bitcoin treasury stocks registered steep declines following the unsettling effects of Donald Trump’s tariffs on China.
Below is a summary of the performance of key players:
