$XPL A bit of a scare in the early hours today. According to Mars Finance, at around 5 a.m. Beijing time on November 1, XPL plunged nearly 20% in short-term trading, briefly hitting $0.0727, with its market cap falling back to around $408 million. About $24.49 million in positions were liquidated in just one hour, including $24.31 million in long positions—basically, a wave of long traders got wiped out.
That’s what happens with smaller coins when leverage is concentrated: even without any news, prices can crater in minutes. My take: don’t rush to buy the dip at a level like this. First see whether trading volume stabilizes after the liquidations, then decide whether it’s worth keeping an eye on.
#XPL #爆仓 For reference only; this does not constitute investment advice.
That’s what happens with smaller coins when leverage is concentrated: even without any news, prices can crater in minutes. My take: don’t rush to buy the dip at a level like this. First see whether trading volume stabilizes after the liquidations, then decide whether it’s worth keeping an eye on.
#XPL #爆仓 For reference only; this does not constitute investment advice.