AND The biggest fall of the crypto market He came and left over the weekend, but the effects still stay. Bitcoin, Ethereum and almost every large digital assets have suffered a price accident, and what started as a panic because of the surprise of former US President Donald Trump 100% of the export of Chinese technology, soon accelerated in over $ 19 billion deleted from the crypto market.
After, Some analysts and commentators began to compile what could actually happen, and many now believe that the collision was not a natural but in detail the coordinated event.
The collision was too synchronized to be a coincidence
Crypto commentator Ran Neunaner was one of the first to claim that the collapse appeared too orchestrated for the weekend to be random. In the post on The Social Media Supreme Platform, Reiner, pointed out that the sale began immediately after US markets closed late on Friday, at a time when both European and Asian merchant tables slept.
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At the same time, several major orders began to show inconsistent prices for prices, liquidity on the stock market evaporated, and many users reported that they were unable to access trading platforms to buy DIP or close positions.
Furthermore, cryptocurrency platforms like Coingecko were out of the network or displayed incorrect data so that users did not have a decline in data. According to the neuner estimate, it was not a series of isolated drafts, but a chain reaction of failure that occur at the ecosystem simultaneously. This looked like some players had pulled the right levers at the exact right time, and the collision was “a very coordinated and well -made attack.”
Binance’s collateral system has been used?
Another theory that has gained attraction has arrived from a commentator known as Elontrades, who suggested that they collide it caused Exploiting weakness within the Binance’s internal price mechanism. His analysis suggests that the event was not a spontaneous panic, but to calculate the attack that used Binance’s own systems against himself, with Tariff’s Trump Shock Serving as a perfect cover.
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According to Elontrades, Binance’s unique account system, which enables traders to use multiple assets as a collateral for impact positions, has acted with significant vulnerability. Instead of relying on the outer Feed Oracle or the stable redemption values ​​to mark the collateral, the exchange used their own book prices. This meant that if anyone could manipulate the price of collateral assets within Binance, he could immediately deval up billions of dollars on margins.
Binance has already announced plans to move on to prices based in Oracle, but this is only on October 8th. Some traders started throwing $ 60 million at $ 90 million USDA and other tokens like Wbeth and Bnsol on Binance to force their internal prices, although these same assets maintained the usual value elsewhere. Artificial incidence of the price caused the platform margin system to look at thousands of influences on influence as subcolateralized and caused automatic liquidation.
This localized Depeg started between $ 500 and a billion dollars of forced liquidations. At the same time, these actors opened $ 1.1 billion in BTC/ETH shorts on Hyperliquid to use the deppeg, which eventually used $ 192 million in profit. Just as forced liquidations began, Trump’s 100% tariff announcement hit the global titles, adding panic and a mess of mix. In a few hours, the liquidation chain spread to other exchange.
Regardless of The reason behind the collisionBitcoin and other crypto currencies begin to recover. At the time of writing, Bitcoin traded at $ 115,025, which is $ 2.85 in the last 24 hours. Ethereum trades on $ 4,160, which is 8.5% in the last 24 hours.
Sepaled picture from Adobe Stock, Graph with TraringView.com
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