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Some thoughts on the future of on-chain finance, written after the sharp market fluctuations on October 11, 2025 Opening: Let’s start with a simple question On October 11, 2025, the crypto market experienced its largest margin call in history. If you’re following this space, you might ask: Does this volatility mean the blockchain experiment has failed? The answer is definitely no. But I’d like to ask you to think about it from another perspective: In this extreme stress test, which systems collapsed? Which survived? Which were questioned? And more importantly, which systems emerged stronger? Let me first introduce my background. I’m the founder of BitMart, and I’ve been in the blockchain industry since 2013. Over the past nearly 13 years, our platform has processed trillions of dollars in transactions and…# Analysis# Airdrop# bitcoin# crypto# Market# Token# ToolPre
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- Original translation by: Saoirse, Foresight News Editor