Some of today's biggest drops weren't about the tokens. They were about one seller.
Binance estimated the impact of the security incident at $6.3 billion, with around $3 billion frozen so far, and said it would cover all losses using its SAFU fund and company funds.
The hacker then dumped assets into ETH. UNI fell more than 9%, ENA more than 15%, AAVE more than 11%, and LINK more than 10%. $1.57B in leveraged positions were liquidated, with longs absorbing 83.9% of losses.
When one forced seller drives the drop, the chart tells you about the seller, not the asset.
Ask who's selling before you ask what it means.
Binance estimated the impact of the security incident at $6.3 billion, with around $3 billion frozen so far, and said it would cover all losses using its SAFU fund and company funds.
The hacker then dumped assets into ETH. UNI fell more than 9%, ENA more than 15%, AAVE more than 11%, and LINK more than 10%. $1.57B in leveraged positions were liquidated, with longs absorbing 83.9% of losses.
When one forced seller drives the drop, the chart tells you about the seller, not the asset.
Ask who's selling before you ask what it means.