Partnered With:

After the sharp rise, it "inserts the pin" downwards. What market signals are reflected in the extreme market last night?

Kaoriand others2Authors

Read this article in 16 Minutes

As of 8:00, the liquidation of positions across the entire network in the past 24 hours had risen to US$491 million, of which US$219 million had been liquidated for long orders and US$273 million had been liquidated for short orders.

On November 10th, according to Coingecko data, the total market value of cryptocurrencies across the network has rebounded to $1.451 trillion, with a 24-hour increase of 3.6%, approaching the total market value of Amazon ($1.453 trillion). The current total market value of Bitcoin is $716.4 billion, and the total market value of Ethereum is $253.9 billion.

In addition, with the drastic fluctuations in the market, at 8 o'clock this morning, the total liquidation of the entire network in the past hour reached 8.2222 million US dollars, of which long positions were liquidated for 640,100 US dollars and short positions were liquidated for 7.5821 million US dollars. In the past 24 hours, the total liquidation of the entire network has risen to 491 million US dollars, of which long positions were liquidated for 219 million US dollars and short positions were liquidated for 273 million US dollars.

At 20:48 yesterday, Bitcoin broke through $37,000, hitting a new high for the year. According to Coingecko data, the total liquidation in the past 24 hours was $200 million, with short positions liquidated at $163 million and long positions liquidated at $37.0473 million.

At 22 o'clock, Nomura Securities' digital asset subsidiary, Laser Digital, announced the launch of the Ethereum Adoption Fund for institutional investors. The fund will invest in Ethereum spot long positions and generate returns through Ethereum staking.

Later at 23:02, Ethereum broke through $2,000.

At 23:07, relevant data shows that the BlackRock iShares Ethereum Trust has been successfully registered in Delaware. Bloomberg ETF analyst Eric Balchunas posted on social media that with the successful registration of the BlackRock iShares Ethereum Trust, BlackRock has taken the first step towards applying for an Ethereum spot ETF.

At 23:21, according to Etherscan data, the gas on the Ethereum network has risen to 168 gwei.

At 23:36, Justin Sun posted on social media that a user suggested him to launch Inscriptions on the Tron network and asked for opinions from social media users.

On the early morning of November 10th, multiple currencies experienced extreme price spikes.

At 7:35, Ethereum broke through $2100 with a 24-hour increase of 11.55%. The ETH/BTC exchange rate rose to 0.05778 with a 24-hour increase of 9.43%.

Later, The Block reported that Nasdaq has submitted BlackRock's proposed iShares Ethereum Trust application for a spot Ethereum ETF to the SEC. The Ethereum ETF will use Coinbase Custody Trust Company as the custodian and will use the CME CF Ether-Dollar Reference Rate.

BlockBeats has summarized the currencies and liquidation data involved in the extreme flash crash that occurred last night and this morning.

Bitcoin Ecology

Bitcoin ecosystem led the encryption market last night, with BRC20 concept leader ORDI showing strong performance.

BTC

On November 10th at 00:30, there was a sharp drop in BTC/USDT, with BTC falling from $37,972.24 to $35,600 in a short period of time. Long positions worth $27,400 were liquidated in over an hour, while short positions worth $203,600 were liquidated. In four hours, long positions worth $828,900 were liquidated, along with short positions worth $1,052,800. In 24 hours, long positions worth $40,194,200 were liquidated, along with short positions worth $125 million.

ORDI

On November 10th, at around midnight, ORDI/USDT experienced a sharp drop in price, with ORDI falling from $20 to $15.622 in a short period of time. Within one hour, long positions were liquidated for $58,300 and short positions were liquidated for $43,900. Within four hours, long positions were liquidated for $408,000 and short positions were liquidated for $925,100. Within 24 hours, long positions were liquidated for $3,931,700 and short positions were liquidated for $7,180,600.

STX

On November 10th at 23:15, there was a sharp drop in the STX/USDT market, with STX falling from $0.7409 to $0.5680 in a short period of time. Within one hour, long positions were liquidated at $0 and short positions were liquidated at $34.67. Within four hours, long positions were liquidated at $0 and short positions were liquidated at $2196.01. Within 24 hours, long positions were liquidated at $600,000 and short positions were liquidated at $52,300.

Ethereum Ecosystem

The Ethereum ecosystem completed a rebound last night. The ETH price broke through the $2,000 mark and performed strongly, unaffected by the short-term decline. In addition, the L2 ecosystem dominated by ARB and OP, as well as the LSD track dominated by LDO and SSV, also saw a general rise in prices.

ETH

On November 9th at 23:15, there was a sharp rise in the ETH/USDT market. After breaking through $2000, ETH fell from $2050.86 to $1975, resulting in long positions being liquidated for $22,000 and short positions being liquidated for $76,700 within an hour. Within 4 hours, long positions were liquidated for $1,413,100 and short positions were liquidated for $5,835,200. Within 24 hours, long positions were liquidated for $22,043,700 and short positions were liquidated for $53,152,000.

OP

On November 9th at around 23:00, OP/USDT experienced a sharp drop in price from $1.677 to $1.379. Within one hour, long positions were liquidated at $0 and short positions were liquidated at $83,900. Within four hours, long positions were liquidated at $36,100 and short positions were liquidated at $486,400. Within 24 hours, long positions were liquidated at $1,531,600 and short positions were liquidated at $1,521,100.

ARB

On November 9th at around 23:00, ARB/USDT experienced a sharp drop in price, with ARB falling from $1.1557 to $0.9576 in a short period of time. Long positions were liquidated at $975.9 and short positions were liquidated at $834.14 within an hour. Within 4 hours, long positions were liquidated at $131,600 and short positions were liquidated at $204,900. Within 24 hours, long positions were liquidated at $1,840,600 and short positions were liquidated at $842,400.

SSV

On November 9th around 23:00, there was a flash crash in SSV/USDT. SSV briefly dropped from $17 to $14.41, resulting in long positions being liquidated at $0 and short positions being liquidated at $5142.48. Over the course of 4 hours, long positions were liquidated at $11,500 and short positions were liquidated at $28,700. Within 24 hours, long positions were liquidated at $159,100 and short positions were liquidated at $35,200.

BADGER

On November 9th at 21:30, BADGER/USDT experienced a flash crash, with BADGER dropping from $5.089 to $3.601 in a short period of time. Within one hour, long positions were liquidated for $64,100 and short positions were liquidated for $36,400. Within four hours, long positions were liquidated for $331,100 and short positions were liquidated for $310,500. Within 24 hours, long positions were liquidated for $1,894,900 and short positions were liquidated for $1,967,600.

PENDLE

On November 9th at 23:15, PENDLE/USDT experienced a sharp drop, with PENDLE falling from $1.0678 to $0.844. Within one hour, long positions were liquidated at $1627.48 and short positions were liquidated at $3144.93. Within four hours, long positions were liquidated at $5886.65 and short positions were liquidated at $11,800. Within 24 hours, long positions were liquidated at $329,500 and short positions were liquidated at $46,100.

LDO

On November 9th at 23:45, there was a flash crash in LDO/USDT. LDO briefly dropped from $2.36 to $1.894. Within one hour, long positions were liquidated for $7,241.29 and short positions were liquidated for $19,300. Within four hours, long positions were liquidated for $10,900 and short positions were liquidated for $78,600. Within 24 hours, long positions were liquidated for $762,200 and short positions were liquidated for $660,800.

Strong Currency

In yesterday's market, large-cap currencies that have performed strongly in the past few weeks continued to perform well overall, with GAS being the most prominent performer.