Slippage refers to the difference between the expected price of a trade and the actual execution price. When there is a delay between placing an order and executing the trade, and the asset's price changes, slippage occurs. For example, if you place an order to buy one Bitcoin at $50, but before your order is executed, the price rises to $52, you may incur a slippage loss of $2 per Bitcoin. This means your actual purchase price will be $52, not the expected $50. Another example is if you find 20 ETH and 80 USDT in an AMM pool, and you expect the ETH price to be 4 USDT/ETH. However, if you plan to spend 20 USDT to swap in the pool, you will end up receiving only 4 ETH instead of the expected 5 ETH, resulting in a slippage loss of 1 USDT/ETH. Your actual purchase price will be 5 USDT, not the expected 4 USDT. $LRC $BSV $GTC

#数字资产市场动态 Recently, I saw CoinGlass release the "2025 Cryptocurrency Derivatives Market Annual Report," and the topic is quite interesting — the traditional exchange landscape is undergoing subtle changes. The top three rankings are now as follows: Binance still firmly holds the first place, a certain leading platform is right behind, and Bitget, the rising star, surprisingly outperformed many veteran players, officially entering the top three. It sounds a bit surreal, but the data speaks for itself: **In terms of comprehensive scores**, Binance scored 94.33, a certain leading platform scored 88.77, and Bitget scored 83.10. Although the scores are decreasing, you have to consider how competitive this sector is — making it into the top three already indicates strong strength. **Regarding liquidity**, the bilateral depth rankings for mainstream assets like BTC and ETH remain in the same order among the three. Trading pairs are sufficient, and slippage control is also quite good. **In derivatives trading volume rankings**, the hierarchy looks like this: Binance leads, a certain leading platform is second, followed by a certain exchange and Bitget. From trading volume and market share, the top-tier effect is indeed obvious. To put it simply, Bitget's ability to break into the top three isn't just luck. In recent years, their focus on product innovation, risk control systems, and user experience shows they are serious about their work. The entire market is highly competitive, and being able to hold your ground is a skill in itself. This report somewhat reflects that the derivatives market is undergoing reshuffling — those who can consistently deliver value will secure their position.