Binance Market Volatility and New Asset Dynamics
1. Severe Market Volatility Triggers Widespread Liquidations
Total liquidation data across the network: In the past 4 hours, a total liquidation of $332 million occurred across the network, with long positions accounting for $318 million (95.8%) and short positions liquidating $13.7 million; the total liquidation amount within 24 hours reached $1.059 billion, with long positions making up 91.6% ($970 million).
Largest single liquidation: Occurred in Binance ETH perpetual contract (ETHUSD_PERP), with a long position worth $13.79 million being liquidated.
Mainstream currencies decline:
BNB fell below $750, with a 24-hour decline of 5.26%;
AAVE fell below $250, with a 24-hour decline of 4.37%.
Reason speculation: High-leverage long positions triggered chain liquidations during the decline, compounded by increased market panic sentiment causing volatility.
🆕 2. Binance Alpha Launches New Asset OLAXBT (AIO)
Launch time: Today (August 2) marks the debut trading in the Binance Alpha section.
Airdrop activity: Eligible users can claim airdrops using Binance Alpha points, with operations required through the Alpha activity page after trading opens (specific details to be announced).
Background significance: As a newly launched token, OLAXBT may attract short-term speculative funds, but market volatility risks should be noted.
💸 3. Large Fund Movements and ETF Flows
XRP Whale Bottom Fishing: An anonymous address transferred 82.4 million XRP ($246 million) from the Kraken exchange, suspected of buying on dips, pushing XRP prices temporarily back above $3.
ETF fund differentiation:
Bitcoin ETF saw a net outflow of 949 BTC (approximately $11.2 million), with ARK 21Shares experiencing a single-day outflow of 767 BTC;
Ethereum ETF saw a net inflow of 8,183 ETH (approximately $31.5 million), with BlackRock accounting for 4,841 ETH.
Market signal: Institutions show stronger short-term confidence in ETH compared to BTC, with large on-chain transfers possibly indicating some investors are positioning in oversold assets.
🛠️ 4. Binance Product Updates
Binance Wallet web version launched: Supports on-chain trading without plugins or installations, enhancing user convenience.
