🧿 FN Deep Dive | Mid-Year Highlights 2025: Who is the "Mudslide" that caused you huge losses? As we reach the halfway point of 2025, Bitcoin has experienced a V-shaped trend from 100,000 to 70,000 to 110,000, while during this period, the large bearish candles in the crypto space have formed a "mudslide". How many of these have you avoided? 📌👻 The indelible stain of Milei: Libra Meme coins are the main theme of the crypto world in 2024-2025. Looking back, two presidents have historically influenced this wave of meme liquidity. The first is U.S. President Trump, whose $TRUMP token, launched in January, surged to nearly $80 billion in market value within two days. Many in the Chinese-speaking community became legends in this battle, with the single coin A8 being the most undisputed "big opportunity" of 2025 so far. The second candidate for the "Most Influential Figure in the Crypto Space 2025" award is Argentine President Milei. On February 14, Milei publicly supported LIBRA, a token initially promoted on X as a tool to support small businesses and Argentine startups. Following Trump's successful token launch, Milei's LIBRA skyrocketed to a market cap of $4.24 billion within half an hour. However, as more insider information about massive profits surfaced and Milei denied any association with the token, LIBRA's price plummeted to $0.20, marking the first major "mudslide" in the crypto space this year. According to on-chain data, a total of 75,000 users were affected by the LIBRA flash crash, with total losses estimated at around $286 million, affecting over 86% of all traders, making it the largest on-chain fraud incident of 2025. 📌👻 The ruthless "delisted coin": ACT On April 1, 2025, at 6:30 PM, low market cap tokens like $ACT collectively crashed in value within half an hour, creating a shocking April Fool's Day event. Among them, ACT, which had previously surged to a market cap of $1 billion during the AI Agent craze in 2024, fell from $0.1899 to $0.0836 in just 36 minutes, a drop of over 55%, leaving many astonished. After the crash, most users pointed fingers at Binance, believing that the exchange's reduction of position limits triggered forced liquidations, leading to panic selling. Additionally, the community questioned whether Wintermute, suspected to be the market maker for ACT, sold a large amount of meme tokens at the same time, possibly causing the crash. Thus, ACT essentially declared a slow death. Perhaps there were no malicious actors like with Libra in this crash, but retail investors still became victims of a "coincidental" mistake made by the rule-makers. 📌👻 The zeroing incident of VC coin: OM "Tokens that rise are always similar, while those that crash each have their own misfortunes." On April 14, 2025, MANTRA ($OM) evaporated $5.5 billion in market value in just 15 minutes during the night, crashing over 90%, dropping from within the top 25 cryptocurrencies to outside the top 90, making it one of the most disastrous events in the crypto space. Before this, from October 2023 to February 2025, OM violently surged from $0.017 to $9.17, an increase of nearly 540 times, and was once regarded as a strong speculative coin. 📌👻 The new scythe spawned by Binance Alpha: ZKJ, KOGE When discussing the crypto space in 2025, Binance Alpha's innovations are undoubtedly a hot topic. However, the flash crashes of $ZKJ and $KOGE within Binance Alpha early on dampened the enthusiasm for trading volume among the public. On June 15, at 8:30 PM, the native token ZKJ of Polyhedra Network plummeted over 85% within two hours, crashing from $2 to $0.29, evaporating nearly $500 million in market value. Meanwhile, the governance token KOGE of 48 Club DAO fell from $61 to $8.46 in just half an hour. Coinglass data shows that between 8 PM and 10 PM that night, the total liquidation amount across the network reached $102 million, with ZKJ contributing $94.336 million to the liquidation volume, and long positions liquidating as high as $93.688 million, completely harvesting contract liquidity. For a complete recap of the pitfalls, click here to see 🧐: