Coinbase Interprets Recent Market Liquidation as a 'Reset,' Not an End
Coinbase Interprets Recent Market Liquidation as a 'Reset,' Not an End
According to Coinbase, the significant market liquidation that occurred on October 10 acted as a necessary 'reset,' effectively flushing out excessive leverage. The exchange emphasizes that this event did not cause fundamental damage to the crypto market structure, suggesting a recalibration rather than a systemic failure.
Coinbase's Perspective on Recent Market Events
In a statement released by Utoday, Coinbase has offered its analysis of the October 10 market liquidation. The exchange characterizes the event not as a damaging blow to the cryptocurrency ecosystem but rather as a crucial 'reset.' According to Coinbase, the primary effect of this liquidation was to purge excessive leverage from the market. They contend that while significant, the event did not inflict any damage upon the structural fundamentals of the crypto industry, indicating a healthy market correction rather than a sign of its demise.