According to observations, a large holder recently exchanged BTC for USD1 stablecoin to participate in a 20% annualized financial product. Unexpectedly, the USD1 liquidity pool was severely insufficient, causing intense fluctuations during the exchange—BTC prices once surged to $24,000, far exceeding normal levels. This extreme slippage means that even based on the most optimistic return calculations, it would take years to recover the losses from this transaction. This case once again reminds market participants: the liquidity trap of small-cap stablecoins should not be underestimated, as high returns often conceal high risks.

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