this is happening now!!!
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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
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After two days of silence, the Terra founder has issued a new governance proposal to keep the community alive and compensate token holders.
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On Friday, the value locked in decentralized finance (defi) protocols dropped to a low of $110.35 billion after there was more than $200 billion total value locked (TVL) eight days ago on May 5. One specific defi protocol called Lido, a liquid staking platform and the second largest defi application in terms of TVL size […]
Terra’s death spiral resulted in the mispricing of LUNA tokens on the popular cryptocurrency exchange. Traders aren’t happy with the compensation.
We all know that when it comes to freedom of expression, platforms like YouTube, Instagram, Twitter and alike haven’t always lived up to their promises. The landscape for creators is constantly changing with regard to what can and can’t be expressed, monetizing their content, and adhering to guidelines and rules policed by, well, who really knows? Therefore, artists, vloggers, influencers and entertainers have much to consider before creating and publishing their work to avoid being demonetized at best, or at worst, banned from a platform altogether, and all that hard work is simply thrown in the trash. One company led by crypto visionary, Sergey Sevantsyan, believes it has created the perfect platform where creators and influencers are truly free, and able to combine traditional ways of publishing and generating income with new opportunities like earning income from NFTs and crypto investments. Empowering content creators TC Mediacoin is a blockchain-based platform that empowers content creators by offering them complete freedom of expression and providing a multitude of ways to earn income rather than trying to control content creators. Here creators choose which content they want to monetize, are free to sell files, videos, create and sell NFTs, earn through coin farming and learn to trade in cryptocurrency. If you don’t know anything about NFTs, no problem, the company offers a turnkey service to help you create your own and sell them. And, unlike mainstream platforms, here there are no community guidelines, no moderators, and for audiences and followers in particular, no annoying popups or advertising on the platform whatsoever. The mission According to the company’s CEO, TC Mediacoin wants to unite the real world with the crypto world and take the fear out of investing in cryptocurrency. To achieve this the company has created its own mini crypto economy based on the already established MC coin, which everything else revolves around. To ensure this happens it has developed a range of useful products and tools to power this crypto economy, including a debit card program with payment available in both fiat and crypto, a marketplace for products and services, an NFT marketplace, and a soon to be launched crypto exchange. Education and training Although content creators can earn on the platform by doing what they do best, the company wants them to maximize their earning potential and also explore new opportunities. So, to help with this, Mediacoin offers free masterclasses on the basics of crypto investing and how to effectively use the platform’s tools and features to their full potential. After learning the basics, individuals can choose to pay for more advanced lessons offered at the company’s crypto school, taught by industry professionals. In addition, the company offers open presentations and talks about crypto and TC Mediacoin between 2-6 times per week in English, Russian and Spanish languages. How investing works Unlike other cryptocurrencies, individuals cannot mine or mint Mediacoin. MC coins can only be obtained through “staking”, which means an individual buying a coin. However, it is possible to invest in the company’s coin farming process and be rewarded for your investment according to tokenomics. Investing in this process takes time, with it taking between 5-8 years to create a new coin. Remember, this is a long-term investment, you’re buying a stake in the business – therefore, if you want to withdraw your investment early, expect a penalty of around 28%. However, on the upside, investors in the mining process can expect to receive 10% interest per month on their investment until the mining period is over. And, over this time, the coin’s value should have increased considerably. The Mediaverse Mediacoin plans to launch its own web version metaverse by June 2022, where people can learn, earn money and generally hang out and relax. Stars, influencers and followers can all interact together offering creators the opportunity to show off and sell their NFTs. Although June’s version will be in 2D format, a virtual reality version where glasses can be used won’t be far behind. To help raise awareness and promote everything that’s happening within the platform, TC Mediacoin has introduced an ambassador program, in which individuals can apply to receive a budget for promotional activities. The company hopes to build on its growing community by harnessing the power of its celebrity and influencer investors to maximum effect. The future? TC Mediacoin has taken a different approach to build a crypto economy which seems to be gaining a lot of traction. As long as humans are on this planet there will always be demand for content, thus, the company has a firm foundation to build on, unlike many other crypto projects.
https://agora.terra.money/t/terra-ecosystem-revival-plan/8701 So finally he broke the silence and he proposed in a forum discussion about his “recovery plan”. I am already highly skeptical with the blockchain being salvageable, but looking at this proposal it is very underwhelming. My opinions on this : The proposal assumes that luna and UST still has value. There doesn’t seem…
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