Binance compensated those affected by the sharp decline in cryptocurrency prices with $283 million.
The trading platform transferred money to clients who incurred losses due to the price drop:
Binance Staked SOL (#BNSOL ), issued in exchange for staking coins of Solana (SOL);
Wrapped Beacon #ETHETFsApproved (WBETH), which accrues for locked ethers.
The value of the aforementioned digital assets fell below "legal" marks, for example, the USDe rate collapsed from $1 to $0.65. This was due to mass coin selling, and the use of internal oracles to determine asset prices used as collateral when opening positions in the futures market led to the liquidation of longs and shorts on Binance, causing traders to lose money.
Global macroeconomic events have caused incredible volatility. Both institutional and private clients actively sold coins, leading to a simultaneous sharp decline in cryptocurrency prices.
Over the weekend, the digital asset market recovered from a heavy blow, and the capitalization level of virtual currencies increased by 17% from the bottom, rising by $550 billion. However, even with the recovery, the value of issued cryptocurrencies at $280 billion lags behind the figure recorded before the dump.#MarketRebound #StrategyBTCPurchase $BTC