According to BlockBeats, on July 14, the US financial blog portal ZeroHedge reported that as of July 13, a total of 1.2 million retail leveraged accounts in South Korea had triggered margin calls, of which approximately 320,000 to 360,000 accounts had been forcibly liquidated by brokerages, and some accounts still owed funds to brokerages after liquidation.

According to BlockBeats, on July 14th, the South Korean stock market experienced increased volatility recently, and the risks of leveraged trading began to surface. Data from the Korea Financial Investment Association (FreeSIS) shows that last week (July 6th to July 10th), South Korean securities firms conducted approximately 324.095 billion won in actual reverse trading of outstanding funds. This is about 32% higher than the average of approximately 244.921 billion won over the previous five weeks, indicating a significantly high level of pressure. Compared to the relatively calm week of June 15th to June 19th, last week's volume was approximately five times that.

Looking at the daily data, the pressure of forced liquidation in the South Korean stock market intensified significantly on July 9th last week. The actual amount of reverse buying and selling that day reached approximately 142.197 billion won, accounting for 10.2% of outstanding amounts, the highest of the week. On July 10th, this amount remained at approximately 81.613 billion won, accounting for 5.7%. The figures for the previous three trading days were 39.698 billion won, 31.741 billion won, and 28.846 billion won, respectively.

"Reverse trading" refers to a situation where, after an investor purchases stocks using margin financing or unsettled funds, the brokerage firm forces the sale of the relevant stocks if the investor fails to replenish the funds in time. This data is not equivalent to the number of "liquidation defaults," but it reflects the scale of passive liquidation of leveraged accounts during a market downturn.

Analysts believe that when stock indices experience continuous pullbacks and individual stocks suffer larger declines, margin accounts and short-term trading accounts are more likely to trigger margin calls or forced selling pressure. If market sentiment continues to weaken, reverse buying and selling could further amplify intraday volatility, creating a chain reaction of "decline, forced liquidation, and further decline."

According to BlockBeats, on July 14th, NOXA, the Launchpad platform on the Robinhood Chain, announced that its website domain is currently offline. The team is testing a new front-end interface based on ENS, which is nearing completion. Once the new interface is launched, creators will be able to receive their creator fees through the front-end again.

NOXA is the launch platform for CASHCAT, with total agreement fees exceeding US$14.5 million.