DeepBook Margin through the eyes of the builders shipping with it:• Margin = trading + borrowing from shared pools• “Where does the yield come from?” is the first question• UX that makes debt, risk & liquidation obvious will winComposable leverage is here. Usability is the frontier.Read on 👇https://t.co/Ozb54imtdV ...

Core Insights - The silver market experienced a significant crash in January, with a 40% decline that resulted in a loss of $150 billion in value, primarily affecting retail investors while institutional players profited [1][2][4]. Market Dynamics - The crash was attributed to structural advantages held by institutional traders over retail investors, rather than manipulation [2][22]. - Institutional traders have access to resources and information that retail investors do not, creating a disparity in market participation [22][28]. Institutional Advantages - **Access to Emergency Liquidity**: Major banks borrowed a record $74.6 billion from the Federal Reserve's emergency lending facility just before the crash, providing them with liquidity that retail investors lacked [7][8]. - **Margin Mechanics**: The CME exchange raised margin requirements by 50% shortly before the crash, forcing many retail traders to liquidate their positions at unfavorable prices [10][11]. - **Authorized Participant Privilege**: Institutions can exploit price discrepancies in ETFs, such as the SLV, allowing them to capture arbitrage profits unavailable to retail investors [13][15]. - **Strategic Positioning in Derivatives**: Institutions like JPMorgan held short positions in silver and were able to take delivery of large quantities at favorable prices during the crash [17]. Timing and Market Reactions - The official narrative linked the crash to the nomination of a new Federal Reserve Chair, but the decline in silver prices began hours earlier, suggesting that other factors were at play [18][21]. - The increase in margin requirements likely triggered a cascade of liquidations, exacerbating the market decline [21][26]. Structural Features of Modern Markets - The article highlights several structural features that create advantages for institutional players, including: - Layered advantages that compound during market stress [23]. - Information flow discrepancies that favor institutions [24]. - Selective support from emergency facilities that stabilize only part of the market [25]. Implications for Retail Traders - Retail traders must recognize the structural differences in market access and the risks associated with leverage, particularly during periods of volatility [28][30].

Core Insights - The crypto-asset investment landscape has evolved from a niche experiment to a complex financial ecosystem resembling traditional markets [1] - Participants in the crypto market have diversified, exploring a variety of tools and features that cater to different trading strategies [2] Margin Trading - Margin trading, once limited to institutional players, is now accessible to experienced traders, allowing them to use borrowed funds for trading [3] - Bitpanda has introduced a Margin Trading product that offers an intuitive interface and tools for responsible position management [4] - Margin Limit Orders enable users to set parameters for entering or exiting positions, although risks associated with margin trading remain [5] Mechanics of Margin Trading - Margin trading involves using borrowed funds to increase trading positions beyond the trader's account balance, effectively amplifying buying power [6] - A practical example illustrates that with €200 and 5x leverage, a trader can control a €1,000 position, potentially yielding a 50% return on the initial investment if the asset rises by 10% [7][8]

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Core Insights - Bybit has launched BYUSDT, a proprietary token that allows users to tokenize their USDT Flexible Easy Earn balances for margin trading while still earning daily yield [1][2] Group 1: Product Features - BYUSDT enables Bybit VIP account holders to tokenize their staked USDT for 1:1 margin trading, allowing seamless swaps between BYUSDT and USDT Flexible Easy Earn accounts without fees [2] - The token accrues rewards hourly with daily payouts, enhancing the user experience [2] - Bybit's offering is unique in the centralized exchange space, as it integrates directly with the platform's staking rewards program [3] Group 2: Competitive Landscape - While similar products exist, such as those from Derebit and Kraken, Bybit's approach combines margin trading with a comprehensive rewards platform, unlike Kraken which limits margin trading to specific rewards [4][5] - Bybit's capital efficiency allows users to earn yields on staked USDT while maintaining liquidity for trading, addressing a common dilemma faced by traders [5] Group 3: Strategic Partnerships - Bybit is focusing on the stablecoin market, particularly through its partnership with Circle to enhance USDC liquidity across various markets and services [6][7] - The partnership aims to improve fiat-to-crypto on/off-ramps and expand USDC integration within Bybit's ecosystem, including services like Bybit Card and Bybit Earn [7]

General Information - The notice pertains to the removal of margin trading pairs [1] Industry Implication - The announcement likely impacts traders and investors involved in margin trading activities within the specific exchange or platform [1]

Market Trends - Japan's margin traders are increasing bearish bets on the Swiss franc to a record high [1]

Market Overview - The A-share market experienced fluctuations last week, with the margin balance reaching a historical high of 24,417.76 billion yuan as of October 10, and the financing balance at 24,256.59 billion yuan, an increase of 472.69 billion yuan over the week [1] - On October 9, the financing balance increased by 508.05 billion yuan, marking the second-highest single-day increase on record, followed by a decrease of 35.36 billion yuan on October 10 [1] Industry Analysis - Among the 31 industries tracked, 26 saw an increase in financing balance last week, with the electronics, non-ferrous metals, and power equipment sectors leading in net financing inflows of 71.93 billion yuan, 62.74 billion yuan, and 53.38 billion yuan respectively [1] - The five industries that experienced a decrease in financing balance included social services, public utilities, and coal, with net sell-offs of 1.02 billion yuan, 0.60 billion yuan, and 0.59 billion yuan respectively [1] Individual Stock Performance - A total of 138 stocks saw net purchases exceeding 1 billion yuan, with the top ten stocks being ZTE Corporation, Xinyise, Dongfang Wealth, Zijin Mining, Northern Rare Earth, Xiechuang Data, Kingsoft, Silan Microelectronics, Cambricon Technologies, and Hikvision, with net purchases of 20.72 billion yuan, 17.09 billion yuan, and 13.28 billion yuan respectively [4] - The top ten stocks with the highest net purchases mostly experienced declines, with ZTE Corporation being the exception, rising over 13% [4] Detailed Stock Data - The financing net purchase amounts for the top stocks were as follows: - ZTE Corporation: 207.17 million yuan, with a price increase of 13.94% - Xinyise: 170.92 million yuan, with a price decrease of 5.35% - Dongfang Wealth: 132.76 million yuan, with a price decrease of 3.80% - Zijin Mining: 94.60 million yuan, with a price increase of 4.86% - Northern Rare Earth: 77.95 million yuan, with a price increase of 8.65% [6]

Product Offering - MEXC Futures Earn allows users to turn margin into a steady income stream while trading [1] - The product aims to boost idle capital efficiency [1] - It offers a zero-operation, always-available earning opportunity [1] - Users can earn extra income from open positions [1]

Product Offering - Bitget launches AutoEarn feature to allow users to earn yield on idle assets [1] - Users can utilize futures margin to secure trades and simultaneously earn yield automatically [1] - Assets like BGUSD and BGSOL can earn up to 7%+ APY (Annual Percentage Yield) [1] Call to Action - Encourages users to stop leaving money idle and let assets work 24/7 [1] - Directs users to try the new feature via a provided link [1]