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ETH $1,857.50 -0.19%
BNB $588.55 -1.07%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $482.71 -2.42%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

kar

Coinkarma founder: The core issue of the crash on October 11 is not USDe, but the abnormal price difference that occurred on Binance at that time

Coinkarma founder Benson Sun stated that Binance is indeed responsible for the crash on 1011, but the core issue does not lie with USDe, as the timeline does not match. The lowest point of the market crash was at 5:20, while USDe reached its lowest point of $0.65 at 5:54. The extreme de-pegging occurred 30 minutes after the market began to rebound, indicating that the extreme de-pegging of USDe was a secondary disaster rather than the trigger for the crash.Benson indicated that based on an analysis of extreme market conditions over the past six years, the price difference between Binance and other trading platforms during each extreme event has typically been within 5%. However, on the day of 1011, more than half of the cryptocurrencies had the lowest prices on Binance, with many deviations exceeding 50% or even 100%. Such a scale of price misalignment has not been seen in any previous black swan events. Additionally, at that time, the price of the same cryptocurrency in the USDT trading pair was significantly lower than that in the USD trading pair. This suggests that there was likely a problem with Binance's system at that time.If the point of failure was elsewhere, the most liquid Binance should not have the lowest prices. Furthermore, the withdrawal of liquidity by market makers is not the main cause. The public opinion expressed by OKX Star has sparked discussion, which is a good thing, but the focus may have been misplaced.

A blockchain company plans to promote a $200 million tokenized water project in Asia, with the first stop in Jakarta

The blockchain infrastructure company Global Settlement Network has announced the launch of a pilot program for the tokenization of water assets, with plans to expand the project across Southeast Asia over the next 12 months, targeting a scale of $200 million.The pilot will initially focus on the tokenization of 8 government-contracted water treatment facilities in Jakarta, aiming to raise approximately $35 million for facility upgrades and the expansion of the local water supply network. During the project, stakeholders will also test a settlement channel using the Indonesian rupiah stablecoin and gradually expand to more foreign exchange settlement scenarios in a controlled environment. Mas Witjaksono, chairman of the Indonesian Globalasia Infrastructure Fund, stated that Indonesia has a large number of tokenizable assets in the infrastructure and natural resources sectors, and the related model has growth potential. Reports indicate that the financing gap for water infrastructure in Southeast Asia continues to widen, with long-term investment needs potentially exceeding $4 trillion by 2040. Some industry insiders expect that as emerging markets accelerate adoption, the real-world asset (RWA) tokenization market is likely to see significant growth by 2026. Currently, the on-chain RWA scale has exceeded $21 billion.
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