Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Breaking Down The Bitcoin Binance Flash Crash By The Second

On October 21st, 2021, crypto exchange Binance US experienced a Bitcoin flash crash to led BTC’s price to dropped by over 80%. The industry is maturing, but these occurrences reminiscent the times when a crypto flash was business as usual. Related Reading | Brace For Impact: Wall Street Is Headed Straight For Bitcoin, Says Analyst A report by Arcane Research deep dives into the event, starting from the time it happened on the aforementioned date at 11:34:17. At this time, as the research firm claims, a “sudden massive selling pressure cleared the order book” on the exchange. This caused Bitcoin to crash all the way down to $8,200 for a whole 13 seconds. This parenthesis was enough for Binance US to experience a spike in its trading volume with 550 BTC changing hands, as Arcane Research said. The research firm compared Binance US normal sell volume to that of this event. The former stands at 0.74 BTC in a 4-hour timeframe, “illustrating that this massive sell order (550 BTC) was” extraordinary, Arcane Research said while adding the following: What caused the crash? A fat finger by someone meaning to place a limit sell order at $82,000? An engine error? A Combination? Binance has stated that it was caused by a bid in the trading algorithm of one of the institutional traders on the exchange. This entity created a domino effect which wrack havoc across all Bitcoin exchange platforms. The research claims that the price of BTC dropped $1,000 as a result of this bug. After, there were irregularities with different exchanges with Kraken seen its BTC/USD pair trading at a “growing discount”, Arcane Research said. On this platform Bitcoin traded at $55,500 while other exchanges were trading at $64,000 per BTC. Related Reading | BTC Holders Reduce Spending, Why Bitcoin Could Get More Rocket Fuel As seen below, the event extended to 11:35:06 with the Kraken discount stabilizing around this period. Arcane Research pointed out that this exchange operates with less efficiency during volatile markets. Bitcoin Down The Trading Rabbit Hole Brett Harrison, President of crypto exchange FTX US, commented on the event. He explained the different trading orders and how they operate when Bitcoin increases its volatility levels. In this case, the price of BTC trended to the downside reducing the liquidity in the market as it moved further down. Harrison said: Those trade prices will trigger stop loss or take profit orders, which themselves are market orders and will cause even more liquidity to be taken. The combination of market orders and lack of liquidity cause the price to spiral downwards in an extremely quick fashion. Harrison clarified that the Binance US Bitcoin crashed was caused by an institution setting a large number of market orders that “cleared the bid side” for the BTC/USD trading pair order book. This triggered a liquidation cascade while BTC’s dropped in the platform. FTX president used the U.S. futures market to exemplify a different market that used to suffered from this problem until it implemented “guardrails”. This could “help prevent short term microstructure issues”. Related Reading | Bitcoin Futures Heating Up, Why BTC Traders Should Expect Volatility The implementation of these types of solutions, in combination with others, could help bring more “maturity” into the crypto market, the executive claimed. 18/BTC/USD dropping as much as it did on some exchanges was not reflective of an actual move in the fair price of Bitcoin, it was a temporary dislocation due to exchange dynamics. Price bands, volatility pauses, and auctions can help prevent this situation reaching such extremes. — Brett Harrison (@Brett_FTXUS) October 25, 2021 At the time of writing, BTC trades at $60,412 with a 4.5% loss in the daily chart.

Success! 3080ti thermal pad replacement

Gigabyte vision 3080ti running memory temps at 106 to 110 Replaced pads and now running at 78!!!! Thanks guys!!! submitted by /u/bbsux [link] [comments]

How To Create RVN NFT’s (Best Method)?

I would like to bring my generative art to RVN, and was wondering the most efficient method to mint my artwork? I have the artwork. Just need the framework. submitted by /u/JuggernautBoth [link] [comments]

anyone know when eth 2.0 is expected to drop?

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

Cardano, Solana Lead Altcoins As Market Sees Record Inflows

Cardano and Solana have led the charge of altcoins in the recent round of inflows into the crypto market. Altcoins saw increased inflows alongside bitcoin, which had seen increasing interest from investors after the first bitcoin ETF had been approved and began trading last week. Last week recorded the highest amount of institutional inflows coming into the market. Institutional investors are now upping their stake in the market with the recent gains recorded across the market. Most notably has been the price of bitcoin which had broken a new all-time high following the trading of the first bitcoin ETF. The ETF had been released with much success as over $1 billion had been traded within the first 24 hours of the ETF being released. CoinShares released a report showing that institutional investors are not relenting with their investments. Bitcoin Leads Market Inflows Although altcoins had seen inflows into both assets last week, bitcoin had once again led the market inflows. The record-breaking inflows saw $1.47 billion flow from institutional investors into the market, and bitcoin accounted for a large portion of it. The amount marked the largest inflows in the space of a week in the market. Related Reading | Yieldly’s CEO Says Interoperability In DeFi Is More Important Than A Market-Leading Blockchain Bitcoin has led inflows in the previous weeks and this past week was no exception. Bitcoin inflows made up 99% of the total institutional inflows. The digital asset alone saw inflows total $1.45 billion last week. Most of this came from trading in the approved bitcoin ETFs that began trading last week. Additionally, the digital asset saw inflows totaling $138 million into bitcoin products in other regions. CoinShares also reported that there had been records of profit-taking in the market but the volume was inconsequential in contrast to the total inflows. Cardano, Solana Lead Their Peers Cardano and Solana recorded the highest inflows for the week for altcoins. Leading altcoin Ethereum had recorded a 3rd consecutive week of outflows from the digital asset, suggesting waning faith in Etheruem. However, other altcoins picked up the slack in this regard. ADA price slows above $2 | Source: ADAUSD on TradingView.com Although nowhere near the inflows recorded by top cryptocurrency bitcoin, Cardano and Solana managed to hold their own in the market. Solana took the lead for the altcoin with the highest inflows with a total of $8.2 million for the week. Cardano also recorded a positive week of inflows with a total of $5.3 million flowing into the digital asset. Related Reading | New Ethereum-to-Cardano Bridge Will Provide NFT Creators Eco-friendly Options Binance also saw a positive week of inflows. However, the asset recorded inflows in volumes much smaller than its peers. Binance saw a total of $1.8 million of institutional inflows in the past week. The inflows recorded last week bring the total asset under management (AuM) to a new record of $79.2 billion, with a weekly closing of $76.7 billion. Total inflows for the year have now surpassed the record set in 2020 of $6.7 billion with two months left to go in the year. Featured image from Medium, chart from TradingView.com

Question about ETH fee

Hey guys I’m trying to swap some stuff on uniswap. I’m see the miner fee for ETH is around $50. Is this normal? Should I wait a couple hours will it drop down to atleast a semi reasonable price? I’m pretty new to crypto and always avoid ETH just due to the fees submitted…
Read more

Shiba Inu hit another ath today, every single time it hit a new ath, I expected it to dump.

Who else? It’s up 537% this month. It’s crazy, and I actually respect anyone who held it. I don’t hate anyone that buys it, I just hate myself for missing out every single time. I usually don’t mess around with alts, one of my “gambles” i took recently was ERGO, bought at $16, it’s $9…
Read more

i got my first NFT!

submitted by /u/imapancake22 [link] [comments]

DYOR of Harmony One from a noob perspective

​ WARNING: this is a noob post, trying to get better and to learn. It does not contain the best information, i just hope that a noob like me can actually start to DYOR. Plus, English isn't my native language, sorry for typos. Premise: I got in the crypto world a month ago, precisely during…
Read more

Germany Auctions Bitcoin Seized From Darknet: Bargain Hunters Flock to Buy Cheap BTC

German authorities are auctioning bitcoin seized from the darknet in cybercrime cases. The auction website reportedly experienced high traffic to bitcoin listings, with 4,000 new registered users over the past few days. German Government Auctioning Seized Bitcoin The Justice Ministry of North Rhine-Westphalia, Germany’s largest state by population, announced Monday an auction of bitcoin seized […]