According to statistics on Friday, May 13, the top stablecoins by market capitalization are currently worth $163.7 billion after the stablecoin economy was valued at close to $200 billion just last week. Of course, the climactic terrausd (UST) failure wiped out billions from the stablecoin economy, and Binance’s stablecoin BUSD has recently entered the top […]
submitted by /u/Mukun00 [link] [comments]
As I said. I complained as good as anyone about this (and I don’t even have a big Cro bag) but as I said in another post. If something looks to good to be true, it probably is. 20% staking rewards on a stable coin was definitely too good to be true in long run…
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Mainnet shadow fork 4 was merged yesterday with no issues for any client. This means all the technical issues with the Merge are resolved! AND TODAY on the all core dev (ACD) call, Ethereum core devs decided to start the process of merging public testnets. Node operators will now start upgrading their nodes, starting with…
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BTC is flashing a few early bottoming signals, but analysts question whether “buying the dip” is a wise maneuver given the strength of the dollar and other factors.
I have seen and watched multiple videos recently about how something like Luna/UST was always going to be unsustainable and that 19.5% apy for staking it couldn't work long term. If all that is so obvious now, why couldn't people see it before the crash? I know people were warning Do Kwon that Luna could…
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submitted by /u/brio98 [link] [comments]
Data shows the crypto futures market has taken a $380 million beating over the past day as Bitcoin has rebounded above $30k. Out of this amount, $240 million liquidations have belonged to short traders. Crypto Shorts Observe $240 Million In Liquidations Over Last 24 Hours In case anyone isn’t aware of what “liquidations” are, it’s best to first take a brief look at the workings of margin trading in the crypto futures market. When an investor opens a, say, Bitcoin long or short contract at a derivatives exchange, they first have to put forth some collateral called the “margin.” This margin can be in BTC, any other coin, or even fiat. Against this margin, the investor may choose to take on “leverage,” a loaned amount often many times the initial position. The advantage of leverage is that if the price moves in the direction the contract bet on, the profits earned are then many times more now. Related Reading | Bitcoin Bloodbath Awakens Sleepy Giant As Spot Volumes Surge However, it is also true that any losses incurred will also be multitudes more. When such losses eat up a specific portion of the margin, the exchange forcefully closes off the Bitcoin position. This is what a liquidation is. The below table shows the data for liquidations in the crypto market over the past day. Looks like liquidations in the futures market have amounted to about $380M In Last 24 Hours | Source: CoinGlass As you can see above, the crypto market has suffered some heavy liquidations over the past day, with $184 million coming in the past 12 hours alone. A majority of the liquidations have been from short traders, which makes sense as coins like Bitcoin have observed a big rebound in the price today. Around 63% of the liquidations have involved shorts | Source: CoinGlass Looking at the above data, it seems like more than $240 million liquidations have been short traders getting flushed. Related Reading | Bitcoin Crash 20% in 5 Days. Why is it the Golden Time to Enter the Crypto Market? Large liquidations like today’s aren’t particularly uncommon in the crypto market. There are a couple of reasons behind this. The first is the high volatility of coins. Even the biggest coins like Bitcoin and Ethereum can observe rather large swings in a short timespan. The other factor that contributes to this is the fact that many derivatives exchanges offer as high as even 100x leverage. Uninformed traders opting for such large positions in a volatile market like crypto greatly increases the risk of liquidations. Bitcoin Price At the time of writing, Bitcoin’s price floats around $30.5k, down 15% in the past week. The price of the coin seems to have already observed a rebound from the crash | Source: BTCUSD on TradingView Featured image from Unsplash.com, chart from TradingView.com
Ukraine’s ministry of digital transformation has utilized cryptocurrency and nonfungible tokens, even CryptoPunks, in an effort to fund its military and humanitarian aid.
After two days of silence, the Terra founder has issued a new governance proposal to keep the community alive and compensate token holders.
