PYUSD $300 Trillion Error Leads Crypto Chatter

• PYUSD’s $300 trillion mint-and-burn error drove the week’s crypto chatter.
• ETH discussion rose on ETF inflows and builder momentum while BTC hovered near $111,000.
• USDT, MON, and FTX rounded out trends tied to liquidity and airdrop narratives.

As Bitcoin struggled to reclaim the $120,000 mark, traders and social media discussions shifted toward a new set of trending tokens.

According to Santiment data, the top coins driving online buzz this week are PayPal USD (PYUSD), Ethereum (ETH), Bitcoin (BTC), Tether (USDT), Monad (MON), and FTX (FTX).

PYUSD $300 Trillion Error Dominates Crypto Chatter

PYUSD, PayPal’s dollar-backed stablecoin, became the most talked-about asset after Paxos accidentally minted an astonishing $300 trillion worth of tokens on the Ethereum blockchain.

The incident, caused by an internal error, was quickly corrected by burning all the minted tokens! While Paxos confirmed that customer funds remained safe, the magnitude of the mistake sparked widespread debate over PYUSD’s reliability.

Despite the error, some analysts viewed the event as a stress test the PYUSD system passed.

Ethereum Talk Rose on Inflows and Builder Activity

The Ethereum network saw increased deposits from the Ethereum Foundation into DeFi vaults. Institutional demand, expanding Layer 2 activity, and rising zkEVM adoption put the digital asset second in social talk.

Moreover, ETH-related discussions soared as it outperformed Bitcoin in ETF inflows. Developers’ growing preference for Ethereum in 2025, supported by national ID integrations and cross-chain progress, has added to the bullish narrative, as per Santiment.

Related: Slow Start to Q4 for Bitcoin and Ethereum, But History Suggests Rebound Ahead

Bitcoin Cools Despite October Seasonality

Bitcoin saw a mild 2% decline in the past 24 hours to trade around $111,000. Historically, October has been a strong month for BTC, with data from CryptoQuant showing that long-term holders often accumulate in the latter half of the month.

Related: BTC $200K, ETH $12K Into Year End As Liquidity Turns Supportive

Exchange reserves typically decline, reducing sell pressure and tightening supply, a setup that has fueled previous “Uptober” rallies.

However, this year’s early October sluggishness has kept Bitcoin under pressure as traders await macro triggers like the expected US rate cut and geopolitical developments. Despite the dip, long-term data continues to favor a late-month recovery.

Stablecoins, New Tokens, and FTX Keeps Liquidity in Focus

Tether remains in the spotlight as discussions center on its dominant role in liquidity provision and recurring concerns about centralization. The launch of new Solana-based versions of USDT and XAUSD also drew investor attention.

At the same time, Monad’s $MON token gained traction via Telegram-based airdrops. On the other hand, FTX has re-entered conversations amid ongoing lawsuits, bankruptcy recovery efforts, and political involvement in its collapse.