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Over 1.2 million leveraged retail accounts in South Korea have triggered margin calls, with approximately 320,000 to 360,000 accounts being fully liquidated by brokers

According to Yicai, global chip stocks faced a Black Monday. On that day, during the Asian trading session, rising geopolitical tensions in the Middle East suppressed risk appetite, with SK Hynix plunging over 15% on the Korean Exchange, marking the largest single-day drop in 18 years; the South Korean benchmark index KOSPI fell more than 9% in a single day, retreating 25% from its historical high on June 22.Data from the Financial Supervisory Service of Korea shows that the total amount of forced liquidations across the entire South Korean market reached 344.2 billion won in a single day, the largest scale of credit liquidation this year. Retail investors accounted for 92% of leveraged positions, referred to as "ant investors," who made full bets on memory chips and have very weak capacity to withstand volatility. As of Monday, over 1.2 million leveraged retail accounts in the entire South Korean market had reached the margin call line. Among them, approximately 320,000 to 360,000 accounts have been fully liquidated by brokerages, resulting in the loss of principal, with some accounts even owing debts to brokerages.Institutions believe that the short-term Gamma effect of leveraged shorts in South Korea cannot be eliminated, and the trillion-won level of leveraged selling pressure has not been fully cleared, with the risk of volatility still unresolved. However, this round of decline is not a reversal of the industry's fundamentals but rather a concentrated deleveraging event following macro shocks faced by crowded high-position leveraged trades.

Bybit launches the first AI trading competition for retail users on a centralized exchange, with a prize pool of up to 360,000, and the champion will receive 88,888 USDT

The cryptocurrency exchange Bybit is officially opening the "AI vs Human: 1v1 Trading Competition" event to retail users today, providing an opportunity for users to face off against advanced artificial intelligence models. This three-week event runs from today until March 27, and successfully participating users can be randomly matched with over 30 AI models provided by the platform or institutions, including top models like ChatGPT, Gemini, Claude, DeepSeek, Qwen, and Kimi, with a total prize pool of up to 360,000 USDT.This event offers flexible competition duration options, allowing users to choose trading times of 1, 2, or 4 hours. Each match won will earn double points, while a loss will yield regular points. The higher the trading volume, the more points earned.Bybit provides users with two prize pools:Daily leaderboard: The top 1,000 users with the highest daily points can share a daily prize pool of 73,500 USDT, with a maximum win of 3,500 USDT.Total points leaderboard: The top 5,000 leaders with the highest cumulative total points after the competition can share a prize pool of up to 288,888 USDT, with the champion receiving 88,888 USDT.It is worth mentioning that this competition also includes 6 professional teams, including Amazon Web Services, AlibabaCloud, AI Agent trading institution NOFA.ai, as well as AYC Fund, ALPHAGATE, and QuantumEdge. The retail version of this competition provides users with pre-selected world-class AI opponents, allowing users to click on the AI teams to view the real-time performance of each AI's returns, while eliminating the need for complex API integration, enabling users to compete with AI at the lowest technical threshold.
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