The Futures Kline feature is an important tool for traders looking to analyze the price movements of Bitcoin and USDT. It allows users to view the historical and current prices of BTCUSDT in different time intervals, such as 1 minute, 5 minutes, 15 minutes, etc. The Kline is composed of four elements: open, high, low, and close prices, and also shows the volume of trades in each interval.
However, there is a serious issue with the Futures Kline display on BTCUSDT on Binance. The problem lies in the UI aggregated Kline, which means that the Kline displayed on the web or mobile interface does not match the actual prices of BTCUSDT. For example, if you look at the 15-minute Kline on September 29, 2023, at 12:00 GMT+00:00, you will see discrepancies in the open, high, low, and close prices.
This issue is a cause for concern as it affects the accuracy and usability of the Futures Kline feature. Traders rely on these price charts to make informed decisions, and if the displayed prices do not reflect the actual market conditions, it can lead to significant financial losses.
In other news, the Terra Classic community has decided to halt the issuance of Terra Classic USD (USTC), the stablecoin pegged to the US dollar on the Terra Classic blockchain. The decision was made due to low demand and high maintenance costs, which made USTC no longer sustainable or necessary. The proposal to stop minting USTC received overwhelming support, with 98.7% of the votes in favor.
As part of the proposal, existing USTC holders will be redeemed with Terra USD (UST) at a 1:1 ratio. The redemption process will start on October 1, 2023, and last for six months. Afterward, USTC will cease to exist, allowing the community to focus resources on developing the main Terra blockchain and its applications.
In the world of decentralized lending platforms, Michael Arrington, the founder of TechCrunch and Arrington XRP Capital, has stepped down from the board of Celsius successor. He cited a conflict of interest with his new role as a board observer at BlockFi, another crypto lending platform. While he will remain a supporter and investor of Celsius successor, he will no longer be involved in its governance or operations.
Furthermore, UpBit, one of the leading crypto exchanges in South Korea, has temporarily halted the withdrawals of Aptos, a newly listed token on its platform. The decision was made due to a bug in the Aptos smart contract that allowed scammers to mint unlimited tokens and sell them, causing a significant price drop and affecting the token’s liquidity. UpBit is working with the Aptos team to resolve the issue and restore normal operations as soon as possible.
Lastly, FTX, a cryptocurrency exchange platform, is facing multiple lawsuits from investors who claim they lost money due to its misleading marketing and unfair practices. FTX’s former law firm and celebrity endorsers have filed motions to dismiss the lawsuits, stating that they are not liable for FTX’s actions and that the plaintiffs have failed to state a valid claim.
It will be interesting to see how these developments unfold and how the respective platforms address the issues at hand. In the rapidly evolving world of cryptocurrency, ensuring transparency, accuracy, and user trust is of utmost importance for the long-term success and adoption of these platforms.
