Many have been looking very enthusiastic in the recent price rally of Crypto where even went above $1T market temporarily. For some it's even the reversal after a capitulation at 17.6k but honestly many indicators are not looking good and basic out of all those is trading volume. Right now the trading volume is rapidly…
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E.g make liquidation only callable from their official bot contract, capture these values and share it with AAVE token holders? submitted by /u/FatPandaFat [link] [comments]
submitted by /u/astrophoto19 [link] [comments]
Crypto liquidations had ramped up following the market crash. Even with the recovery had come more liquidations as short calls had also taken a hit. However, with the recovery moving over the last week, the market has begun to regain some semblance of balance and so the liquidations have begun to settle. Crypto Market Liquidations Relaxes Although liquidations cannot entirely stop, the liquidations have begun to subside. It had fallen from over $1 billion in liquidations at the height of the market crash and has slowly but surely returned to normal levels. This is obvious in liquidations for the past 24 hours which continue to trend at around $150 million liquidated. Mostly, it has skewed towards long traders given that the market had recorded a dramatic dip in the early hours of Monday morning. Related Reading | Market Wallows In Extreme Fear As Bitcoin Struggles To Hold $20,000 As expected, bitcoin and Ethereum take the lead for the digital asset with the most liquidations in this time period. Bitcoin alone has recorded more than $43 million in liquidations while Ethereum liquidations have come out to more than 24K ETH liquidated, amounting to more than $29 million in liquidations in the past 24 hours. Total market cap below $1 trillion | Crypto Total Market Cap on TradingView.com More than 74,000 traders have been liquidated in this time though, of which 69.73% were long trades. Okex and Binance exchanges have seen the highest liquidations. However, the largest single liquidation for the last day came from the Bitmex exchange on the XBTUSD with the trade coming out to $2.48 million. Market Takes A Nosedive Just as feared, the crypto market has lost most of the gains that it made last week. The swift decline in price had come following the return of faith in the market, indicating that the recent recovery had been a bull trap. Related Reading | Bitcoin May Not Reclaim All-Time High For Another Two Years, Binance CEO In this decline, Bitcoin had fallen sharply from above $21,000 where it had trended for the better part of the week and had fallen back to the $20,000 territory once more. The dip resulted in more than $500 lost from bitcoin’s value in a matter of minutes. As expected, this has triggered liquidations across various exchanges which brings the total value to $156 million liquidated. Bitcoin liquidations are ramping up on the one-hour chart with $28 million recorded over the same time period, coming out to 1,360 BTC liquidated. Featured image from Business Today, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Last month was a crypto rollercoaster. Bill Gates said crypto is based on greater fool theory. The market has lost more than $1 trillion dollars since November, and there are still signs of further damage, including Celsius’ pause on withdrawals. The wild west of finance is clearly suffering, and the whiplash pace of recent headlines […]
LUNA2 may have bottomed in June but who just who is buying this controversial token?
The crypto ecosystem is still dealing with the fallout caused by the collapse of the Terra ecosystem, the company behind stablecoin USDT, Tether, is being targeted by hedge funds. Confirmed by Paolo Ardoino, CTO at Tether and crypto exchange Bitfinex, via his Twitter account. Related Reading | Cardano Formed This Pattern On Its Chart, Where Is The Coin Headed? According to the rumors, hedge funds have been opening short positions on Tether (USDT) and have been actively seeking to create panic in the crypto industry to affect the stablecoin. Peg 1:1 to the value of the U.S. dollar, these entities might be trying to replicate the events that crash LUNA and UST. These digital assets were at the epicenter of the Terra ecosystem, the latter operated as an algorithmic stablecoin pegged to the U.S. dollars until it crashed losing over 90% of its value. According to Ardoino, hedge funds might try to profit by creating the conditions for a similar crash with USDT: I have been open about the attempts from some hedge funds that were trying to cause further panic on the market after TERRA/LUNA collapse. It really seemed from the beginning a coordinated attack, with a new wave of FUD, troll armies, clowns etc. The outcome would be different, as Tether’s CTO explained, these hedge funds would allegedly try to trigger a massive capital outflow from the stablecoin and destabilize its price. Ultimately, if the price of USDT drops, the short players would “buy back tokens at a much lower price”. These entities, Ardoino said, have been allegedly spreading Fear, Uncertainty, and Doubt (FUD) on the stablecoin, such as the rumors that claim Tether is not 100% backed by real assets, and that it was exposed to fail investments. The Tether CTO denied once again denied the rumors: Tether had/has in fact >= 100% of the backing, never failed a redemption and all USDt are redeemed at 1$. In 48 hours Tether processed 7B in redemptions, averaging 10% of our total assets, something almost impossible even for banking institutions. Can Tether Follow LUNA/UST And Lose Its Pegged? In that sense, Ardoino put into question the “billions” in short positions taken by these hedge funds. The executive claims USDT is a battle-tested stablecoin that has outlasted several crypto bear markets, and even companies considered “the holy heroes of our industry”. As Bitcoin and the crypto market trend to the downside, Tether’s (USDT) total market capitalization saw an almost 20% drop. However, the stablecoin operates with a very different mechanism than that of Terra’s LUNA-UST and seems unlikely to follow the same path. USDT has always caused controversy in space, but it has operated for almost a decade. The company behind the stablecoin has been improving on its government contacts, its transparency, and adding more assets to back USDT. Related Reading | TA: Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key As a pseudonym analyst said on Twitter, this doesn’t mean the stablecoin could never fail, but it does seem to suggest the “FUD on USDT seems overrated”. The majority of Tether clients (based on USDT issuance amount) are well-known market makers and trading firms such as @AlamedaResearch, @CumberlandSays, @jump_, etc. 89.5% of total USDT issuance was sent to market makers of Big CEX such as Binance, FTX, OKX, Bitfinex, etc. pic.twitter.com/qQ4DHAIfuF — alphanonce Intern (@alphanonceStaff) June 22, 2022
The Digital Diaspora, an event hosted at Samsung 837 during the week of NFT.NYC, beamed a spotlight on some of the most prominent Black artists within the NFT space.
Tough pill for a lot of people to swallow. This forum seems to have a cult like mentality that discourages taking profits. Most times when a rational post is made here, people respond with you don’t understand crypto or fud. I saw a post where someone was bragging about being a full coiner and his…
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