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$BLESS fell 29.59% over the last 24h, underperforming the broader crypto market (-1.01%). Here are the main factors: Post-Derivatives Launch Volatility – BLESS perpetual contracts went live on different exchanges on 23 September, triggering a "sell-the-news" reaction. High Leverage Liquidations – 50x leverage availability amplified downside pressure as long positions unwound. Deep Dive 1. Derivatives Launch Selloff (Bearish Impact) Overview: BLESS perpetual contracts debuted on 23 September with 50x leverage, coinciding with a 30% price drop three days later. Historically, new derivatives listings often trigger short-term volatility as traders capitalize on hype cycles. What this means: The launch likely attracted speculative longs using high leverage. When prices failed to rally post-listing, stop-loss triggers and margin calls accelerated selling. BLESS’s 24h trading volume fell 47% to $34.5M (CoinMarketCap), signaling fading momentum after the initial derivatives frenzy. What to look out for: Funding rates on BLESS perpetuals – sustained negative rates could indicate bearish sentiment consolidation. 2. Leverage-Induced Liquidation Cascade (Bearish Impact) Overview: The 50x leverage offered on BLESS contracts magnified losses during the downturn. With BLESS down nearly 30%, over-leveraged long positions faced forced liquidations, creating a self-reinforcing sell cycle. What this means: High leverage ratios increase systemic risk during corrections. The crypto fear-and-greed index at 32 (“Fear”) (CMC) reflects broader risk aversion, exacerbating BLESS’s downside. 3. Airdrop-Related Distribution (Bearish Impact) Overview: BLESS airdrop via Alpha Points incentivized users to trade actively for rewards. Recipients may have immediately sold distributed tokens, flooding the market with supply. What this means: Airdrop sell pressure is common in low-liquidity tokens like BLESS (24h turnover ratio 0.62). With 1.84B tokens circulating, even modest distributions could disproportionately impact prices. Conclusion BLESS’s plunge reflects a perfect storm of post-derivatives profit-taking, leverage-driven liquidations, and airdrop-driven supply shocks. The token underperformed Bitcoin (-1.01%) and Ethereum (-0.42%) significantly, highlighting its sensitivity to speculative trading flows. Key watch: Can BLESS stabilize above its pivot point of $0.0458? A sustained break below could signal further downside.

cointime消息，据Trader T监测，美国现货以太坊ETF昨日净流出2.4394亿美元。

RT @LeonWaidmann: 🚨 Tokenization sets the floor for Ethereum 🚨 🔹 Tokenized assets on Ethereum (incl. stablecoins) = $300B+ 🔹 Every dollar…

$ETH /USDT BEARISH TRADE SETUP – ANALYST VIEW $ETH /USDT is showing a short-term bearish move after rejection near $4,020, with sellers pushing the price lower. The breakdown structure suggests more downside if price holds below $3,990, creating a clear short opportunity. Trade Setup: Entry Zone: $3,985 – $3,990 Take Profit (TP): $3,960 / $3,950 / $3,945 Stop Loss (SL): $4,012 This setup carries a favorable risk-to-reward ratio, giving traders an important opportunity to capture short-term downside momentum.

UPDATE: Bitmine added 264,000 $ETH this week, bringing their total holdings to 2.42M $ETH ($9.72B).