Papertrade founder Jez stated that due to the faster than expected progress of the perpetual contract market, PAPER is currently set to a non transferable state to avoid potential attack risks and maintain the long-term healthy development of the agreement. Jez emphasized that PAPER represents users' rights to the benefits of the agreement, and its long-term value depends on whether Papertrade can continue to attract traders. The team made this risk management choice based on the operational data of the agreement's first week online.

The Bank for International Settlements has released Working Paper No. 1385, analyzing the application of stablecoins in cross-border payments. The paper points out that stablecoins can reduce dependence on correspondent banks and SWIFT through networks such as Ethereum, Solana, and Tron, and lower transfer fees. However, the exchange process between fiat and stablecoins still involves transaction, withdrawal, and deposit/withdrawal fees, and the lack of market depth limits the cost advantage of large payments. (Source: Bank for International Settlements)

The decentralized trading platform Aster announced that, in view of recent developments and potential market risks related to PAPER, it has adjusted the PAPER perpetual contract market to only reduce positions and officially delisted it at 17:45 UTC on October 20th. It is recommended that users holding open positions actively close their positions before delisting.

The Bitcoin funding rate remains at a neutral level of 4% to 8%, and buyers continue to avoid using leverage, which reduces the liquidation risk when Bitcoin backtesting $80000. （Bitcoin Archive）

On October 20th from 09:04 to 17:20 (UTC+8), an address (0xf517... c032) with a 100% winning rate in BTC trading increased its BTC short position from approximately $680000 to approximately $2.11 million, adding approximately $1.43 million to its holdings.