The current price of ETH is $4178.44, with an increase of 8.90% in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 1 hour was 13.11 million US dollars, with the main liquidation being short orders and ETH liquidation being 3.92 million US dollars (29.95%). The data is for reference only.

Binance BNB/USDT is currently trading at $1350, with a 5-minute increase of 0.12%. Please be aware of market fluctuations.

[Backpack Founder Responds to Recent FUD, Pinpoints Liquidity Shortage as the Core Issue] Backpack founder Armani Ferrante posted on the X platform to address two recent waves of FUD surrounding the platform. He stated that the recent market crash was triggered by the largest liquidation event in history, leading users to question issues such as Auto-Deleveraging (ADL), negative balances, and compensation. Ferrante provided a detailed explanation of the sources of the two waves of FUD: first, around 40 users deposited funds before their negative balances were settled—a real issue but one that is easily resolved, yet it was spread out of context; second, inappropriate content was posted by the Backpack Chinese X account, which is operated by a third party and does not represent the company's stance. Ferrante acknowledged the industry's severe structural deficiencies and pointed out that Backpack's core issue lies in insufficient liquidity and the lack of support from internal market makers. He proposed multiple solutions, including circuit breakers and Vaults, while emphasizing that exchanges, as critical infrastructure for the industry, should accept external scrutiny and view FUD as an opportunity to improve and showcase their strengths.

[Analysis: Bitcoin Whales Continue Accumulating, Market Sentiment Stabilizes] On-chain data analyst Murphy stated that during the rapid decline in Bitcoin prices from October 6 to October 11, the whale cohort continued accumulating, exhibiting a 'buy-the-dip' trend. The pace of capital outflow was slower compared to previous instances, and some indicators showed minor 'bullish divergence.' Market sentiment has become more balanced compared to before, and the foundation of the bull market remains unchanged. The analysis pointed out that the impact of events similar to 'black swan' incidents on the market is gradually weakening, though short-term volatility remains uncertain. The content is for learning and discussion purposes only and does not constitute investment advice.

[Solana Stablecoin Protocol Solstice TVL Surpasses $200 Million] On October 13, the total value locked (TVL) of Solana synthetic stablecoin protocol Solstice surpassed $200 million. Earlier this month, the protocol launched the interest-bearing stablecoin USX and its native staking protocol, achieving delta-neutral returns through arbitrage and staking strategies, fully collateralized by USDT and USDC to maintain its peg. Holders can access the YieldVault protocol to earn yields.