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Was the largest liquidation in history a deliberate attack?
In the cryptocurrency sector, holding positions and waiting is a slow form of financial suicide.
Quick Take Summary is AI generated, newsroom reviewed. Bitmine purchased $480.7 million worth of Ethereum during the recent market crash. The Ethereum whale purchase boosted sentiment and triggered renewed optimism in a potential crypto market rebound. Analysts believe Bitmine is betting on Ethereum’s long-term value and blockchain utility. The move may signal stronger institutional involvement and the beginning of a fresh accumulation cycle.References BREAKING 🚨BITMINE BOUGHT $480.7 MILLION WORTH OF $ETH
Perhaps the biggest profit from an attack in recent years?
Led by Sequoia Capital and a16z, Kalshi's valuation has soared to $5 billions.
- 13:59Garrett Jin: Trading platforms that take the lead in establishing stable funds will attract capital inflows and drive industry developmentChainCatcher reported that the whale Garrett Jin, who previously made headlines by selling over $4.23 billions worth of BTC and reallocating to ETH, stated that a deeper issue in the crypto industry lies in trading platforms offering high leverage on assets lacking intrinsic value to meet user demand and boost profits. Such high leverage was previously only found in the forex market, where underlying assets have value support, lower volatility, and liquidity provided by banks. If trading platforms continue to offer extremely high leverage, they should at least establish mechanisms similar to stable funds, as seen in the US stock market, to provide liquidity support during crises. Only in this way can trust be rebuilt, capital attracted back, and healthy market development promoted. The sharp drop on October 11 once again proved that under extreme volatility, the market is in urgent need of liquidity support. Trading platforms that take the lead in establishing stable funds will not only attract capital inflows but also drive the entire industry forward.
- 13:32Polymarket founder Dylan High School previously participated in the Ethereum ICOOn October 13, according to Fortune magazine, Kalshi and Polymarket are engaged in a competition for dominance in the prediction market. Kalshi is eager to add crypto features, but catching up with its competitor is not easy—Polymarket has been settling trades on the Polygon Layer 2 network since its inception, and its founder Shayne Coplan (now 27 years old) even participated in the Ethereum ICO while still in high school.
- 13:23A Bitcoin OG deposits 40 million USDC into Hyperliquid again to increase short positions on BTC.According to Jinse Finance, on-chain analytics platform Lookonchain has monitored that a certain Bitcoin OG has once again deposited 40 million USDC into Hyperliquid and increased their short position on BTC.