To the surprise of crypto traders, the past 24 hours turned out to be not exactly what one would have in mind. As the market reacted to the Binance-re
in the world, it is not a surprise, but the volume of long liquidations stood out from normal. Within the past day, over $15 million worth of long liquidations were observed in the case of ETH.
The other major cryptocurrencies that stood out in this regard were Dogecoin, Pepe coin, ApeCoin and Compound. DOGE noted over $6.13 million worth of long liquidations, marking a two-month high, while the volume of PEPE nearly hit $1 million against merely $80,000 worth of short liquidations.Similarly, APE recorded about $1.44 million worth of long contracts being liquidated, hitting a monthly high, and COMP followed in suit, observing $809,000 in long liquidations.
“After a thorough consideration, Binance has made a difficult decision to disable Binance Connect on 15 August due to its provider closing the supporting card payments service. This change aligns with the strategic efforts of Binance to focus on its core businesses. Considering the price action reaction to the FUD, the crypto market lost about $14 billion in a day, dropping by 1.2% to hit a total market capitalization of $1.12 trillion.Higher Open Interest is associated with higher liquidity and new capital inflow to the market. This is considered the equivalent of increase in efficiency and the ongoing trend continues.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Meme coin market roundup: Pepe & Dogecoin prices rise, while WSM approaches $23MIn this article, we cover both of these noteworthy projects, before discussing several other fast-rising meme coins that have been attracting investor attention lately
Read more »
Meme coin price predictions 2023 compared: Thug Life, Dogecoin, Mr Hankey Coin, Pepe Coin, Shiba InuThe meme coin market continues flourishing in 2023, with titans like Dogecoin (DOGE) and Shiba Inu (SHIB) still top of the pile.
Read more »
BALD Developer Sends $12M Back to Ethereum After Spectacular Mess UpThe mysterious developer behind bald (BALD) yesterday transferred some $12 million in ether (ETH) back to the Ethereum network – weeks after crafting one of the quickest rises, and falls, in the crypto market. By shauryamalwa.
Read more »
Coca-Cola unveils ‘Masterpiece’ NFT collection on Ethereum Layer 2 BaseCoca-Cola launched its 'Masterpiece' NFT collection on Base, Coinbase's Ethereum Layer 2 network, featuring iconic and modern artworks.
Read more »
Ethereum (ETH) Burn Rate Plummets Dramatically, No Longer Deflationary?$ETH saw a noteworthy decline in network activity and burn rate, raising some concerns among investors
Read more »
Celebrating Financial Awareness DayFor Financial Awareness Day, learn how to keep on top of your finances when navigating the crypto industry. We’ve put together a summary of what you need to know to manage your money and digital assets within the space. Start reading below.
Read more »