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Opinion: This extreme big dump may be caused by the liquidation of a large institution on Binance that uses cross Margin.
BlockBeats news, on October 11, crypto KOL and co-founder of Primitive Ventures Dovey posted on social media that he speculated this big dump was caused by a large institution (possibly a traditional trading company using cross margin) getting liquidated on the Binance platform. Although more in-depth analysis is needed, initially, it appears that the price of USDe on Binance once fell to 0.6, while the prices on other trading platforms remained relatively stable. In addition, there has been a significant divergence in volatility between tokens that have been listed on Binance and those that have not.