Market Microstructure

Large transfers of PENDLE, ENA and LDO to FalconX at prices below entry reframe how traders should read whale flows, order books and funding markets. This piece explains why big players use custodial/OTC counterparties, how those moves shape liquidity and derivatives, and practical signals traders can use to spot imminent exits.

Binance’s Bitcoin scarcity index recently dropped to negative levels not seen since 2021, signaling a meaningful shift in on‑exchange supply that matters for trade execution and market structure. This feature unpacks what the index measures, the drivers behind rising exchange balances, and practical responses for institutional traders and allocators.

A detailed forensic analysis of the Christmas Day Bitcoin ‘flash crash’ to roughly $24k on Binance’s BTC/USD1 pair and the near-instant rebound to ~$87k. Actionable guidance for traders, risk teams, and exchanges to understand wicks, mispriced chart data, and practical protections.