Tap to Trade in Gate Square, Win up to 50 GT & Merch!
Click the trading widget in Gate Square content, complete a transaction, and take home 50 GT, Position Experience Vouchers, or exclusive Spring Festival merchandise.
Click the registration link to join
https://www.gate.com/questionnaire/7401
Enter Gate Square daily and click any trading pair or trading card within the content to complete a transaction. The top 10 users by trading volume will win GT, Gate merchandise boxes, position experience vouchers, and more.
The top prize: 50 GT.
![Spring Festival merchandise](https://exampl
Investor Michael Burry pointed out that due to high leverage and lack of liquidity, the price decline triggered a "collateral death spiral," leading to massive liquidations of tokenized silver futures, with liquidation volumes on some cryptocurrency platforms like Hyperliquid even surpassing Bitcoin. This volatility highlights how cryptocurrency exchanges are becoming alternative venues for macro trading, and pressure from traditional markets could lead to unexpected and larger-scale sell-offs.