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Viewpoint: This extreme big dump may be caused by a large institution using cross Margin getting liquidated on a CEX.
On October 11, crypto KOL and co-founder of Primitive Ventures Dovey posted on social media, suggesting that the recent big dump was caused by a large institution (possibly a traditional trading company using cross-margin) getting liquidated on a CEX platform. Although further analysis is needed, it appears that the price of USD on CEX briefly fell to 0.6, while prices on other trading platforms remained relatively strong. Additionally, there has been a significant divergence in volatility between tokens listed on CEX and those not listed on CEX.