The broader cryptocurrency market fell as geopolitical tensions in the Middle East escalated, sparking risk aversion in the market. According to Zaheer Ebtikar, founder of cryptocurrency fund Split Capital, a continued sell-off in cryptocurrencies "may depend on further escalation of the situation." The tensions affected the stock market on Friday, boosting safe-haven assets such as bonds and the US dollar. According to Coinglass data, about $1.5 billion in bullish cryptocurrency bets made through derivatives were liquidated on Friday and Saturday, one of the highest two-day liquidation levels in at least six months. Ebtikar also pointed out that leverage has been "completely overwhelmed" in the past three days, leading to a substantial deterioration in digital asset prices.
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Midday News:
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1. In the past 24 hours, the total amount of liquidation in the entire network reached 949 million US dollars.

2. Astar Network has successfully recovered all funds for affected users.

3. Ethereum's market value has been surpassed by Tencent and has now fallen to 32nd in the global asset ranking.

4. The ZachXBT team launched a new project Leaper Finance on Blast, involving a fraud of tens of millions of dollars.

5. In the past 24 hours, Wintermute transferred 43,000 ETH from various centralized exchanges, worth about 136 million US dollars.

6. A whale was liquidated by Aave in the early morning with 4539.7 ETH collateral to repay a loan of 203 WBTC.

7. Compound proposed proposals 238 and 239, and plans to deploy Compound III to the Optimism network.

8. The open interest of BTC options on the entire network is $20.61 billion, and the open interest of ETH options is $8.61 billion.

9. Jupiter plans to gradually carry out relevant upgrades starting next week to solve problems such as oracles in perpetual contract products.