The Cosmos community has released a proposal to start researching and gathering ideas for a new tokenomics model for ATOM. The core model should be revenue/fee-based. Key ideas include:- Gradually increasing staking rewards to favor long-term stakers- Reducing inflation- Unifying the ecosystem around ATOM as the reserve, gas, and settlement asset- A variable inflation model tied to accumulated fees https://t.co/he2YQuHarw ...

Market Trends - Crypto market experienced a pullback in November, but attention should be paid to projects with significant spikes in trading volume [1] - Top 10 volume risers this week are listed, indicating potential shifts in market interest [1] Projects to Watch - Kelp DAO's RSETH, Ethena Labs' sUSDe, rzcoin's RZ, Starknet's STRK, Picoreteam's PI, Cosmos' ATOM, Jewelry Token's JEWELRY, ASI Alliance's FET, Astorcoin's ASTER, and Zcash's ZEC are identified as top volume risers [1] Resources - A screener is available to track assets with the highest percentage jumps in trading volume [1]

Core Insights - The digital asset market experienced its largest liquidation event on October 10, termed as crypto's Black Friday, with over $19 billion in leveraged positions liquidated [1] - The sell-off was triggered by President Trump's announcement of a proposed 100% tariff on Chinese imports, leading to global risk aversion across various asset classes [2] - Bitcoin, ether, and solana saw significant price drops, with bitcoin falling to $106,560, ether to $3,551, and solana to $174, while smaller-cap tokens dropped more than 75% intraday [2] Market Dynamics & Scale of Deleveraging - Total perpetual futures open interest decreased by 43%, from $217 billion on October 10 to $123 billion by October 11, marking the largest single-day contraction on Hyperliquid with a 57% decline [3] - Approximately $16 billion of the $19 billion total liquidations originated from long positions, with most traders using 2x leverage or higher without stop-losses [4] Structural Stress & Order Book Collapse - The event highlighted the interconnectedness of liquidity, collateral, and oracle systems, evolving into a market-wide stress event as prices hit key liquidation levels [6] - Market depth collapsed by over 80% across major exchanges within minutes, with large-cap assets like ATOM experiencing near-zero bids due to market makers withdrawing liquidity [7] - The shared collateral across assets and reliance on local price feeds amplified volatility, affecting even well-capitalized platforms as liquidity disappeared [7]

Core Insights - The cryptocurrency market experienced a historic liquidation event, with Bitcoin's price dropping from over $126,000 to a low of $105,000 before rebounding above $110,000 [3][13] - Altcoins faced severe declines, with notable drops in prices for various cryptocurrencies, indicating a widespread market impact [5][6] - The total liquidation amount reached approximately $19.37 billion, marking it as one of the largest liquidation events in cryptocurrency history [8][9] Market Impact - Bitcoin's price fluctuated significantly, with a peak of $122,514 and a low of $107,520, resulting in a 12.2% decrease [7] - Ethereum also saw a drop from around $4,700 to below $3,500, reflecting a 20% decline [6][7] - The liquidation event affected over 1.6 million traders, predominantly long positions, highlighting the volatility in the market [8][9] Exchange Performance - Hyperliquid emerged as the center of the liquidation event, recording the highest liquidation amount of $10.31 billion, despite being smaller than competitors like Bybit and Binance [10] - The automatic deleveraging mechanism on Hyperliquid was criticized for exacerbating the sell-off, leading to significant losses for many traders [12] Trader Outcomes - The top 100 traders on Hyperliquid collectively earned $1.69 billion, while the top 100 losers lost $743 million, resulting in a net profit of $951 million concentrated among a few highly leveraged short sellers [12] - The largest gain was reported by a trader who made over $700 million through short positions, while the biggest loser, known as "TheWhiteWhale," lost $625,000 [12] Future Outlook - The market is expected to experience continued volatility, with potential further impacts on funds and market makers in the coming days or weeks [14]

Core Insights - The crypto market experienced its largest liquidation event in history, with approximately $19 billion liquidated in a single day, marking it as the worst day for crypto ever [2][4][6] - The significant drop in Bitcoin's price from $118,000 to $101,000 was triggered by President Trump's threats of 100% tariffs on Chinese tech, leading to a broader market collapse [2][4] - Altcoins suffered even greater losses, with some, like SUI, plummeting by as much as 80% [2][4] Market Impact - A total of ~$19.1 billion in positions were liquidated, with ~$16.7 billion of those being long positions, indicating a massive forced unwinding across exchanges and perpetual protocols [3][4] - The open interest in the market was reduced by $65 billion, effectively resetting market positioning to levels seen in midsummer [3][4] - The event left over 6,300 wallets in the red, with more than $1.2 billion in trader equity vaporized [3][4] Recovery and Future Outlook - Following the crash, major cryptocurrencies, including Bitcoin, have shown signs of recovery, with Bitcoin trading at approximately $114,100 [6] - The market is still assessing the full implications of the liquidation event, and the exact causes remain unclear [7]

Core Viewpoint - The recent market turmoil in the cryptocurrency sector was primarily driven by macroeconomic factors rather than systemic failures of Binance, despite the platform experiencing technical issues during the crash [1][3][4]. Group 1: Market Events - The market downturn began on a Friday, triggered by U.S. President Trump's tariff threat, leading Bitcoin to drop 13.5% from a peak of over $126,000 [3]. - During this period, users reported significant issues on Binance, including system delays and account freezes, exacerbating their losses [3][9]. Group 2: Binance's Response - Binance acknowledged technical problems but emphasized that its core trading functions remained operational throughout the incident [1]. - The platform processed a relatively low proportion of forced liquidations compared to total trading volume, indicating that the market decline was largely influenced by external conditions [1]. - Binance compensated users affected by asset decoupling, with total payouts amounting to approximately $283 million within 24 hours of the incident [1]. Group 3: Asset Decoupling and Allegations - There were speculations about a targeted attack on Binance's Unified Margin system, which allows users to use multiple assets as collateral, potentially leading to a collapse in collateral values [4]. - Binance refuted claims that asset decoupling was the cause of the market crash, stating that the market drop occurred before significant asset decoupling [4]. Group 4: Technical Issues and User Concerns - Users expressed concerns over sudden price drops of tokens like ATOM and IOTX, which were perceived as market manipulation [6]. - Binance explained that these price drops were due to a lack of buy orders and the triggering of historical limit orders set at very low prices, not actual price collapses [6]. - The platform also addressed user interface issues that led to misleading price displays, promising to optimize and correct these problems [6].

Core Insights - The cryptocurrency market experienced its most severe liquidation event in history, with nearly $19.37 billion in liquidations over 24 hours, affecting over 1.6 million traders, predominantly long positions [7][9][10]. Market Impact - Ethereum's price dropped from around $4,700 to below $3,500, while Bitcoin fell from a high of over $126,000 to a low of $105,000 before rebounding above $110,000 [2][6]. - Significant losses were observed in altcoin markets, with tokens like ATOM plummeting from $4 to $0.001, and SUI from $3.4 to $0.56 [5]. Liquidation Details - The largest single liquidation order occurred on Hyperliquid, amounting to $203.36 million, while the platform recorded a total liquidation of $10.31 billion, surpassing competitors like Bybit and Binance [10][11]. - The total liquidation amount was described as being more than ten times the losses seen during the pandemic and FTX collapse periods [8][9]. Trader Outcomes - The top 100 traders on Hyperliquid collectively earned $1.69 billion, while the top 100 losers lost $743 million, indicating a net profit of $951 million concentrated among highly leveraged short sellers [14]. - The largest gain was reported by a trader who made over $700 million through short positions, while the biggest loser, known as "TheWhiteWhale," lost $625,000 [14]. Market Sentiment and Future Outlook - Market participants are concerned about potential further fallout, with expectations of additional fund liquidations or market maker losses in the coming days or weeks [15]. - Analysts suggest that Bitcoin's next major support level is at $100,000, and a drop below this could signify the end of the previous three-year bull market cycle [15].

Core Insights - The cryptocurrency market experienced a significant liquidation event, with nearly $19.37 billion in liquidations over 24 hours, affecting over 1.6 million traders, primarily long positions [6][7][8]. Price Movements - Bitcoin's price fell from a historical high of over $126,000 to a low of $105,000 before rebounding above $110,000 [1]. - Ethereum's price dropped from around $4,700 to below $3,500 [3]. - Various altcoins faced severe declines, with notable drops including ATOM from $4 to $0.001, SUI from $3.4 to $0.56, and LINK from $22 to $8 [5]. Liquidation Details - The largest single liquidation occurred on Hyperliquid, totaling $10.31 billion, while Bybit and Binance recorded $4.65 billion and $2.41 billion, respectively [9]. - The event was described as the largest liquidation in cryptocurrency history, surpassing previous significant liquidation events during the pandemic and the FTX collapse [7][8]. Trader Impact - The top 100 traders on Hyperliquid collectively earned $1.69 billion, while the top 100 losers lost $743 million, resulting in a net profit of $951 million concentrated among highly leveraged short sellers [14]. - A specific trader made over $700 million through short positions, while the largest loser, known as "TheWhiteWhale," lost $625,000 [14]. Market Reactions - The automatic deleveraging mechanism on Hyperliquid has been criticized for exacerbating the sell-off, leading to premature liquidation of complex positions [12]. - Market participants are concerned about potential further fallout, with expectations of hearing about additional fund liquidations in the coming days or weeks [15][16].

Core Insights - The cryptocurrency market experienced a significant liquidation event, with nearly $19.37 billion in liquidations occurring within 24 hours, marking one of the largest liquidation events in cryptocurrency history [6][8][10]. Price Movements - Bitcoin's price fluctuated from a historical high of over $126,000 to a low of $105,000, before rebounding above $110,000 [1]. - Ethereum's price dropped from around $4,700 to below $3,500 [3]. - Various altcoins faced severe declines, with notable drops including ATOM from $4 to $0.001, SUI from $3.4 to $0.56, and LINK from $22 to $8 [5]. Liquidation Details - Over 1.6 million traders were liquidated, predominantly from long positions, with a total liquidation value of nearly $20 billion [6][10]. - Hyperliquid, a relatively new perpetual contract exchange, recorded the highest liquidation amount at $10.31 billion, significantly surpassing competitors like Bybit and Binance [10][11]. Market Reactions - The liquidation event led to substantial losses for many traders, with the top 100 traders on Hyperliquid collectively earning $1.69 billion, while the top 100 losers lost $743 million [16]. - The largest gain was reported by a trader who shorted the market, making over $700 million, while the largest loss was approximately $625,000 [17]. Future Outlook - Market participants are concerned about potential further declines, with Bitcoin's next major support level identified at $100,000. A drop below this level could signify the end of the bull market cycle seen over the past three years [21]. - The volatility is expected to continue, with analysts suggesting that the impact of this event may take days or weeks to fully manifest [19][22].

Core Insights - The cryptocurrency market experienced its largest liquidation event in history, with nearly $20 billion in forced liquidations affecting over 1.6 million traders, predominantly long positions [1][7][14] - Bitcoin's price fell from a peak of over $126,000 to a low of $105,000 before rebounding above $110,000 [1][14] - The altcoin market suffered significantly, with various cryptocurrencies experiencing drastic price drops [3][4][5] Liquidation Details - The total liquidation amount reached approximately $19.37 billion, significantly surpassing previous liquidation events during the pandemic and the FTX collapse [6][7] - Hyperliquid, a smaller perpetual contract exchange, recorded the highest liquidation amount of $10.31 billion, while competitors like Bybit and Binance had $4.65 billion and $2.41 billion respectively [8][10] - The event was linked to recent tariff comments from former President Trump, which heightened market volatility [7][14] Market Impact - Major cryptocurrencies like Ethereum saw their prices drop from around $4,700 to below $3,500 [4] - The liquidation event led to significant losses for many traders, with over 1,000 wallets on Hyperliquid being completely emptied [10] - Despite the losses, the top 100 traders on Hyperliquid collectively earned $1.69 billion, indicating that some traders profited from the downturn [13] Future Outlook - Market analysts suggest that the full impact of this liquidation event may take days or weeks to manifest, with potential for further fund liquidations and market volatility [14] - The next key support level for Bitcoin is identified at $100,000, with a drop below this level potentially signaling the end of the recent bull market cycle [14]