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Hyperliquid Improvement Proposal 3 (HIP-3): A Significant Upgrade Set to Propel Perp Market Deployment
In Brief Crypto market sees abrupt sell-off, with altcoins severely affected. Bitcoin shows relative strength, boosting its market share. Investors adopt cautious strategies, watching key indicators closely.
In Brief Hyperliquid's HIP-3 upgrade enables developers to launch perpetual futures markets. HYPE token's value has surged, enhancing its market impact and interest. Recent substantial liquidations underline the volatile crypto environment and potential challenges.
In Brief SNX coin surged over 120%, reaching above $2.20, in a significant market rally. The rally stems from upcoming Ethereum mainnet launches and trading competitions. "Dino coins" like SNX could regain prominence in upcoming financial cycles.
- 17:43Garrett Jin: Trading platforms that take the lead in establishing stable funds will attract capital inflows and drive industry developmentBlockBeats News, October 13, the whale Garrett Jin, who previously made headlines by selling over $4.23 billions worth of BTC to switch positions to ETH, posted that "A deeper issue in the crypto industry is that trading platforms offer high leverage on assets lacking intrinsic value to meet user demand and increase profits. Such high leverage previously only existed in the forex market, where underlying assets have value support, lower volatility, and liquidity is provided by banks." If trading platforms continue to offer extremely high leverage, they should at least establish mechanisms similar to stabilization funds, as in the US stock market, to provide liquidity support during crises. Only in this way can trust be rebuilt, capital be attracted to return, and healthy market development be promoted. The crash on October 11 once again proved that under extreme volatility, the market is in urgent need of liquidity support. Trading platforms that take the lead in establishing stabilization funds will not only attract capital inflows but also drive the entire industry forward."
- 17:42Europe's largest asset management company Amundi to enter the crypto ETF marketBlockBeats News, October 13, according to market sources, Europe's largest asset management company Amundi (with assets under management of 2.3 trillion euros) will enter the crypto ETF market.
- 17:42"BTC OG whale" increases BTC short positions to $346 million, with a liquidation price of $130,400BlockBeats News, on October 13, according to on-chain analyst Ai Aunt (@ai_9684xtpa), the "BTC OG whale" has increased their BTC short positions to 346 millions USD, with the latest average opening price at 116,000.9 USD and a liquidation price of 130,451.7 USD.