Author: dfmines

The Sandbox launched a metaverse accelerator program aimed at developing potential startups.

submitted by /u/Weaver96 [link] [comments]

Bitcoin finally broke below the $40K point this past weekend. This had sent the cryptocurrency back towards six-month lows. One thing though was that liquidations or the digital asset remained lower than expected. The current liquidation volumes lay well below the volumes that have accompanied previous crashes like this one. This could be a very important indicator for the market. Bitcoin Liquidations Remain Low In Shakeout Previously, whenever the price of bitcoin had dumped this hard, liquidation volumes have quickly risen. This is due to the massive sell-offs that follow such crashes as investors try to get out of a bleeding market. This time around, bitcoin liquidation volumes have not jumped. They remain really low, indicating that maybe investors were not done selling their holdings. Related Reading | Has Bitcoin Reached Its Bottom? Analyst Says It Still Has A Long Way To Go If this is the case, then there may be more downside coming as the week runs toward the end. Massive sell-offs have already sent the digital asset to lows not seen since mid-last year. Another round of sell-offs could end up pushing the cryptocurrency’s value down below $30K. Last Friday, when the price of BTC had successfully broken below $40,000, the bitcoin futures and perpetual markets were rocked by liquidation. By the time the beginning of the weekend rolled around, over $854 million in long liquidations were already recorded. This may seem like a lot but compared to previous iterations of this type of shakeout, liquidations have fallen short. BTC liquidation volumes fall short of expectations | Source: Arcane Research May 2021 was the last time that BTC’s price had taken a similar plunge. In total, the market saw $4.8 billion worth of liquidated longs across the market. Indicating that the sell-off in May was more intense than those recorded in January of 2022. One explanation for the low liquidation volumes is that traders were able to re-allocate and add collateral to underwater trades, given that they’ve had more time to reassess their positions. Where Are The Liquidations Happening? Another reason for the low liquidation volumes could be the data available for analysis. Back in May 2021, crypto exchanges like Binance and ByBit had their bitcoin liquidation data out for anyone who wanted to have a look. Since then, there has been a change by both exchanges where they now restrict their liquidation. Now, analysts are having to guesstimate liquidation volumes using historical data from the exchanges. BTC price begins uptrend | Source: BTCUSD on TradingView.com Binance still retains dominance of the market, thus, not having access to the crypto exchange’s bitcoin liquidation data could severely affect the volumes of liquidations being reported. The crypto exchange’s dominance in the market has risen since before its data was restricted, suggesting an even larger pool of liquidations that are not being reported correctly. Related Reading | Bitcoin Whales Take Advantage Of Market Crash To Gobble Up Millions In BTC Nevertheless, the liquidations have spilled into other spaces in the industry. Decentralized finance (DeFi) did not escape the onslaught in the least as it was also rocked by liquidations. Featured image from Bitcoin News, charts from Arcane Research and TradingView.com

The number of global crypto owners is expected to exceed one billion by the end of the year, according to a report by Crypto.com. “Nations can no longer afford to ignore the growing push to crypto by the public. We may in many cases expect a friendlier stance towards the crypto industry,” the company said. […]

If you value crypto. If you value blockchain. This is worth your time but not as much as your actions. ​ The US congress critters are attempting to further their autocratic bureaucracies with clamping down on crytpo. Enabling non elected officials to make broad and uncontested changes in the financial sector. ​ A call to…
Read more

Shit coin/Ethereum Meta help So basically, I bought Ethereum Meta late last year when it was pretty much worthless. There’s recently been a decent spike in it after the previous one last year (I should’ve noticed it was a pump and dump to be honest but I was naive) and now I can’t withdraw or…
Read more

We provide over 100+ FREE crypto articles on our SubStack! 😀 (Link on our profile). This is not financial advice. TLDR:When discussing about "Ethereum killer", it is not just about fighting the layer 1 tech infrastructure. The truth is that there are risks that needs to be mitigated in this infrastructure. In fact, the attack…
Read more

ETH price appears to be bottoming but analysts are watching for $2,850 to flip from resistance to support before calling a bullish reversal.

Hi I’m an 18 year old senior in HS, I’ve been trying to do research and get my mind wrapped around NFT’s and the whole world of crypto, I’m going to be majoring in finance and I really want to get into the NFT/Crpto space but I’m not sure how to do that with very…
Read more

submitted by /u/Solodeji [link] [comments]