Data: $672 million in liquidations across the network in the past 24 hours, with $537 million in long positions and $135 million in short positions liquidated

Last week, retail investors poured $6.1 billion into 3x leveraged chip ETFs, but suffered a 20.5% single-day plunge this Thursday, almost perfectly coinciding with the start of the rapid downturn. The cumulative decline in October has exceeded 43%, far surpassing the 15.9% loss of non-leveraged products during the same period. The root cause lies in the market’s skepticism toward AI investment returns. The most significant uncertainty is whether aggressive spending by tech giants will actually deliver on profit expectations, while the use of leverage has exponentially magnified the cost of this misjudgment.

The payment platform Opay Ltd., which focuses on the Nigerian market, plans to raise up to 336 million dollars through an initial public offering (IPO).