CZ Appears to Respond to Hyperliquid Co-Founder: BSC Ecosystem Participants Voluntarily Spend Billions of Dollars to Protect Users

On October 13th, the High Court of Singapore gave its approval to the restructuring plan of the Indian cryptocurrency exchange platform WazirX. WazirX had submitted a legal opinion to the Singaporean court on September 26th, aiming to expedite the restructuring plan and is currently awaiting further instructions. BlockBeats had previously reported that on July 18, 2024, the Indian cryptocurrency exchange platform WazirX suffered a hack. Its multi-signature wallet on the Ethereum network was compromised, and a total of 234.9 million US dollars was transferred to a new address. The origin of each transaction was concealed by Tornado Cash.

On October 13th, according to 8MarketCap data, BNB has seen a 30-place increase in the global asset market cap ranking over the past 7 days. It now stands at the 109th position. The market cap has risen to approximately 184 billion US dollars, with a 24-hour price change of 15.74% and a 7-day price change of 9.32%.

On October 13th, as monitored by HyperInsight (accessible via https://t.me/HyperInsight), within the past 24 hours, the overall cryptocurrency market has witnessed a rebound accompanied by a significant increase in trading volume. The amount of short liquidations on the Hyperliquid platform amounted to 62.5 million US dollars. The total trading volume of the three major mainstream coins, BTC, ETH, and SOL, was 8.666 billion US dollars. It is worth noting that possibly due to the recent market fluctuations, the sentiment in the futures market is relatively cautious. When looking at the 24-hour trading leaderboard, the prices of coins such as SOL, DOGE, BNB, and ASTER have all seen a certain degree of increase. However, the funding rates remain negative. On the other hand, the 24-hour trading volume of ZEC and HYPE has respectively decreased by 23.87% and 18.77%, and their holdings have also exhibited relatively weak performance.

October 13th: The Solana synthetic stablecoin protocol Solstice became live on the 12th with a TVL exceeding $200 million. Earlier in the month, it launched an interest-bearing synthetic stablecoin named USX and a native staking protocol. It attains delta-neutral returns through arbitrage and staking strategies, and is fully collateralized by USDT and USDC to maintain the peg. Holders can access the YieldVault protocol.

October 13th. On-chain data analyst Murphy pointed out that during the period of decline from October 6th to 11th, the Bitcoin whale group still maintained a consistent pace of accumulation, demonstrating a clear "buy the dip" behavior. Although there was a sharp drop on October 11th, the psychological impact on large holders was much smaller compared to the two macro events in April of this year and August of last year. With the continuous inflow of major capital, the BTC market has become more mature as a whole, and the reaction to sudden events is no longer blind panic or mass liquidation. During the recent rapid decline, the outflow of capital was relatively moderate compared to previous occasions, resulting in even a slight "bullish divergence" in the "price and capital increment gradient" indicator. The long/short trading volume difference of perpetual contracts has returned to the 90-day median, and the sentiment of the most sensitive speculative group is returning to a neutral

October 13th - As per the Financial Times, on October 13th, the U.S. Department of Defense is set to initiate a strategic mineral reserve plan with a magnitude of up to $1 billion. The plan is intended to reduce foreign influence in the crucial metal supply chain. Public documents from the Defense Logistics Agency (DLA) reveal that the plan encompasses the acquisition of various metals including cobalt, antimony, tantalum, and scandium oxide. Certain metals, such as tantalum and scandium oxide, are being included in the national defense reserve list for the very first time. Analysts indicate that this action clearly represents an upgrade of the Trump administration's strategic resource reserve policy, fortifying America's self-sufficiency capabilities in future technological wars and military supply chains. On the market front, this round of "mining stockpiling action" suggests an accelerated global resource restructuring. With China curbing exports and rare earth and germanium prices