@emilylai great one by @StarPlatinum_ :)
https://t.co/LpBQuFFrJg
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Binance was probably behind that massive October dump
This is my view and opinion based on onchain data, exchange notices, and timing:
On Oct 6, Binance publicly said it would change how it prices BNSOL and wBETH on Oct 14.
That created a 4-day window (Oct 10–14) where thin books could be smashed to nuke collateral across futures, margin, and loans.
The punch landed in a tight 40-minute window, ~21:36–22:16 UTC on Oct 10:
USDe on Binance printed as low as $0.6567 while other venues stayed around $0.90–0.95.
wBETH collapsed to ~$430 (≈-88% vs ETH parity) only on Binance.
BNSOL flushed to ~$34.9 (≈-82%).
Binance later paid ~$283M to users and rushed the oracle fix early (moved from Oct 14 to Oct 11).
In the 24–48h before the event, >$10B moved:
Big USDT/USDC inflows into exchange hot wallets around 05:30–06:30 UTC on Oct 10.
USDe flows tied to Binance labels: 0xdfd529 (Binance 7), 0x28c6c0 (Binance 14), 0x21a31e (Binance 8).
Coinbase didn’t list the weak links (USDe / wBETH / BNSOL) but did two th
@Defi_Warhol waiting for a write up on what happened 10/10
It's still just a theory...
But when pricing changes are announced in advance, liquidity disappears.
Collateral gets marked off thin books, and a 40-minute window wipes billions.
You have to ask what exactly is Binance doing?
Binance was probably behind that massive October dump
This is my view and opinion based on onchain data, exchange notices, and timing:
On Oct 6, Binance publicly said it would change how it prices BNSOL and wBETH on Oct 14.
That created a 4-day window (Oct 10–14) where thin books could be smashed to nuke collateral across futures, margin, and loans.
The punch landed in a tight 40-minute window, ~21:36–22:16 UTC on Oct 10:
USDe on Binance printed as low as $0.6567 while other venues stayed around $0.90–0.95.
wBETH collapsed to ~$430 (≈-88% vs ETH parity) only on Binance.
BNSOL flushed to ~$34.9 (≈-82%).
Binance later paid ~$283M to users and rushed the oracle fix early (moved from Oct 14 to Oct 11).
In the 24–48h before the event, >$10B moved:
Big USDT/USDC inflows into exchange hot wallets around 05:30–06:30 UTC on Oct 10.
USDe flows tied to Binance labels: 0xdfd529 (Binance 7), 0x28c6c0 (Binance 14), 0x21a31e (Binance 8).
Coinbase didn’t list the weak links (USDe / wBETH / BNSOL) but did two th
$BNSOL 📉⚠️
Chart failed to break the neckline of the inverse head and shoulders at $156, rejection at RSI50 shows structure still intact but odds slipping.
Now we could head toward $132, where a triple bottom setup might form, that’s the next zone bulls🐂 need to defend.
#BTC #ETH #Crypto #Trading #BNSOL #Altcoins
$BNSOL
So far, the chart is doing good.
We are seeing the approach to the resistance of the inverse head and shoulder with relatively mixed volume, not that high, not that low either. So that basically means we should just wait and see about the reaction on the resistance.
As talked about in the last update about this coin, recoverying the resistance here can lead to tap to the 200D sma that currently sits around 203, which is around 25% pump from current levels.
But breaking below 135 can lead to more lower prices as well.
#crypto #btc #eth #bnsol #sol #altcoins
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