Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Three Arrows Buys 156K ETH Despite Its CEO Saying It Gave up on It

Crypto hedge fund Three Arrows Capital (3AC) has acquired over half a billion worth of ETH following the rant of Zhu Su, its CEO, on Twitter, in which it put ETH on blast. Between November 20th and 22nd, Zhu wrote on Twitter that he had “abandoned Ethereum despite supporting it in the past.” Among the…
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Biden Administration Unveils Plan to Focus on ‘Prosecutions of Criminal Misuses of Cryptocurrency’

The Biden-Harris administration has unveiled its strategy on “countering corruption.” It includes utilizing the government’s newly established task force, the National Cryptocurrency Enforcement Team, to focus on “complex investigations and prosecutions of criminal misuses of cryptocurrency.” US Crypto Enforcement Strategy for ‘Countering Corruption’ The White House announced Monday, “In line with the president’s direction, the […]

Bitcoin Open Interest Takes Second Largest Dump Of 2021

Bitcoin has recorded significant losses in just the first week of December. The digital asset has taken some of the largest hits for the year in just last week alone following liquidations over the weekend. This has expectedly had a huge impact on the amount of open interest in bitcoin. Following the dump, BTC denominated open interest took a nosedive. The dip in open interest was significant enough to near-record levels for 2021. With bitcoin losing more than $10,000 in value, open interest had declined rapidly. This is worrying given that open interest had dropped not too long ago and another drop this time around does not spell good news for the market. Related Reading | Majority Of Bitcoin Investors Got In This Year, Says Grayscale Bitcoin Open Interest Records Second-Largest Decline With the drop from $54,000 to as low as $40,000 on some exchanges, open interest figures plummeted. The liquidations of future positions opened the asset up to a cascade of further liquidations and open interest dropped 26% in this time frame. BTC dominated open interest volumes fell from 390,000 BTC to 330,000, as reported by Arcane Research. BTC Open Interests sees shart decline | Source: Arcane Research Saturday saw the second-largest daily drop in open interest as it lost 58,000 BTC in one day alone. It is the largest decline in a six-month period as the last time the market recorded such a sharp decline in open interest was on May 19th, which admittedly recorded a larger decline than that witnessed on Saturday. The drop in BTC denominated open interest correlates with the drop in price. OI (open interest) had peaked in April during the height of the first bitcoin bull rally but has repeatedly failed to attain the same high despite bitcoin recording a new high of $69,000 last month. Another dip sends BTC price to $49K | Source: BTCUSD on TradingView.com What Caused The Decline? Violent sell-offs in the market following the bitcoin price crash had been the main culprit behind the decline in open interest. The sell-offs greatly deleveraged the market, leading to losses to the tune of billions. Although the futures market has now been thrown into a healthier state following the sell-off. Related Reading | Number Of Bitcoin Lightning Network Nodes Jumps 23% In Three Months The massive deleveraging saw crypto exchanges Binance and ByBit lose a significant portion of their open interest share. Both exchanges saw their shares of this market plunge 11% to its current position at 30%. Binance recorded a 40% fall in OI on its platform and ByBit recorded an even higher decline with a 45% crash in OI. Open interest is now $3.3 billionaire and $1.6 billion respectively on both exchanges. Bitcoin denominated open interest has not recorded much recovery since the December 4th crash. Currently, open interest sits at 325,000 BTC, about 5,000 BTC lower than the 330,000 crash point on Saturday. Featured image from The Spruce, charts from Arcane Research and TradingView.com

Hong Kong-based Chiron Partners launches $50M Terra fund

Terra’s native cryptocurrency, LUNA, has emerged as one of the best-performing digital assets of the past 11 months.

Golem major release – Beta IV with Polygon support!

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Hello fellow Ethereum enjoyers, how do you do?

​ https://preview.redd.it/za9uzvepnb481.png?width=1080&format=png&auto=webp&s=33fe140c4c918bc71221a10d776c934eef8b19ba submitted by /u/flatstapes [link] [comments]

Shitcoin Market Caps Going Up!

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

Ethereum Price Analysis: ETH Could Rally If It Clears $4,500

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I’m Yuriy Sorokin, Founder & CEO of 3Commas.io – a Leading Trade Automation Toolset for Crypto Traders – AMA!

Hi all! I’m Yuriy Sorokin, the Founder & CEO of 3Commas.io, and with me I have u/salteepalo, our Co-Founder for DeCommas, our new DeFi vertical. We developed 3Commas.io, which provides advanced trading tools and automations that seamlessly integrated with most all leading exchanges, for more than 150,000 monthly active users and maintaining an average monthly…
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