Global market volatility is surging as the use of perpetual futures trading continues to grow. Crypto markets have experienced a significant $500 billion loss in capitalization, prompting concerns about potential instability in the industry. This volatility, reminiscent of past crises like Black Thursday, has led to massive liquidations across various exchanges. Leading platforms like Binance and Bybit are actively managing funding rates and liquidation triggers to mitigate this impact. Notably, Plasma (XPL) suffered a 58% downturn, sparking scrutiny of its tokenomics. Bitcoin remains at a crucial $110,000 support level as institutional responses attempt to stabilize the market. Raoul Pal, CEO of Real Vision, highlights these concerns: ‘The cascading liquidations from perpetual trading strategies highlight critical vulnerabilities in our market structure.’ Past volatility has historically led to corrections and potentially sparked regulatory scrutiny. However, current events suggest a potential for sustained market instability.