WEEX Absent in Record-breaking Market Plunge of 2023

On the date of August 18th, 2023, Bitcoin encountered a significant plunge of 7.33% within a span of 24 hours, exhibiting a volatility rate of 12.59%. This occurrence marked it as the most severe day in the cryptocurrency market since the start of the year, leading to a total liquidation value of 1 billion USD. Termed as the "818 Tragedy," this incident bears resemblance to the "Crypto Lehman Moment" observed in November of the preceding year when the collapse of FTX shattered industry confidence, resulting in Bitcoin experiencing declines of 9.93% and 14.15% on November 8th and 9th, respectively.

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