Early Monday morning, the price of Bitcoin plunged another 5% to around $61,000. This very sudden drop took investors by surprise and triggered a wave of massive liquidations. As trading volumes continued to grow, cryptocurrency liquidation figures surpassed $300 million in just 24 hours. The Bitcoin crash left 91,000 cryptocurrency traders with $282 million in losses. Data from Coinglass shows that tens of thousands of cryptocurrency traders lost leveraged positions in the final days, resulting in hundreds of millions of dollars in liquidations. This comes amid a decline in the cryptocurrency market triggered by the Bitcoin crash. Related Reading The…
Author: Crypto Flexs
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Cryptocurrency exchange Kraken has added support for Copper’s ClearLoop, allowing institutional clients to settle trades on Copper’s infrastructure rather than on the exchange itself.ClearLoop allows these traders to trade virtual balances on exchanges, with real payments taking place on their own network. This means that these traders secure their token balances in copper rather than storing them on exchanges.The goal is to avoid the risk of your funds being stolen, as many cryptocurrency exchanges have been hacked over the years. “Over the past few years, trading volume in cryptocurrency derivatives has regularly exceeded that in the spot market, and institutions…
Stablecoin giant Tether continues to transform its flagship US dollar-pegged stablecoin USDT by stopping issuing new USDT on more blockchains.Tether will stop issuing USDT on the EOS and Algorand blockchains starting June 24, the company officially announced on its blog on Monday.After the shutdown, Tether will continue redeeming USDT from EOS and Algorand “as usual” over the next 12 months. “Additional changes may be evaluated and announced around that time,” the announcement reads.The transition is expected to occur with minimal disruption.According to Tether, ceasing EOS and Algorand-based USDT mining coincides with the company starting to maintain balance in the Tether…
Thon Hotels, one of Norway’s largest hotel chains, has successfully migrated its entire portfolio to the Oracle Hospitality OPERA Cloud platform, according to oracle.com. This strategic move aims to streamline global operations and improve customer service. Integrated technology solutions By adopting OPERA Cloud Property Management (PMS), Sales and Events Management, and OPERA Cloud Central, Thon Hotels now leverages an integrated suite of technology solutions. These tools are designed to support the chain’s strategic growth, improve customer loyalty program management, and enable mobile-enabled field service. The platform also facilitates direct distribution through Thon’s online booking engine…
Despite the short-term bearish sentiment, the structural adoption cycle remains intact and cryptocurrencies will become a major “Trump trade” if electoral sentiment shifts more toward the Republican Party, according to analysts at research and brokerage firm Bernstein.“After a few months Bitcoin BTC -4.61% ETF euphoria, markets suddenly feel bearish,” Gautam Chhugani and Mahika Sapra wrote in a note to clients on Monday. Analysts have cited two main arguments related to the recent outflow of funds from spot Bitcoin exchanges and a potentially disappointing spot outlook. Ethereum ETH -4.96% ETF launch.According to analysts, spot Bitcoin ETFs have been quite successful overall,…
SlowMist founder has issued a security warning. The alert warned users that phishing activity is on the rise on new blockchains. Due to these activities, users risk losing their Telegram accounts and cryptocurrency assets. Blockchain security company SlowMist, through its founder, sounded the alarm on Monday about increasing phishing activity in the TON ecosystem. The Open Network (TON) ecosystem is a comprehensive blockchain platform that hosts hundreds of decentralized applications (dApps) across DeFi, gaming, NFTs, and memecoins. The utility of the ecosystem has improved since Binance, the world’s largest exchange by trading volume, integrated TON for USDT transfers on June…
Leading cryptocurrency exchange Binance has announced an update to its commission-free trading promotion for the JPY spot trading pair. According to Binance, starting June 25, 2024 at 00:00 UTC, standard maker and taker fees will be reintroduced for these trading pairs. The changes affect all users trading JPY spot pairs and should refer to the updated Spot and Margin Trading Fee Structure for further details on applicable fees. Additionally, the trading volume of these pairs will be reflected in the calculation of the user’s VIP tier volume and in all applicable liquidity provider programs. Impact…
Bitcoin is headed for a retest of the lower range that began in the last week of June, with BTC price nearing $60,000.Bitcoin (BTC), which is down another 1.25% since its daily close on June 24, continues to test bullish nerves as it moves deeper into key resistance levels.Whether this holds true is now a key question in the coming days as the monthly deadline approaches.To achieve this, Bitcoin has already abandoned several moving averages and moved below the total cost basis, putting short-term holders in the red.Demand is therefore experiencing a temporary disruption, with particular focus on whales, which…
Closely watched traders believe that Bitcoin’s key support level will collapse before BTC witnesses another uptrend. Flow Horse, a pseudonymous analyst, told his 219,400 followers on social media platform “My honest opinion is that I will extend my assertion from earlier this week that perhaps over time (next months) we will be closer to the bottom, but the price will not… I am fairly confident that Bitcoin will trade below $.60,000 again. I know we are still mid-level, but consolidation and weakness for this long without a close tailwind and already declining demand almost always resolves to the downside before…
Metaverse and NFTs • June 24, 2024, 3:53 AM EDT Posted 1 minute ago In ~ Popular NFT project and merchandise brand Pudgy Penguins and NFT licensing platform OverpassIP announced the establishment of Igloo Inc., a parent company.“Igloo was formed to create an end-to-end ecosystem where new people can get into cryptocurrency without dilution,” the company wrote. X post. Igloo said its main goal is to provide an end-to-end user experience for mass adoption of cryptocurrencies, rather than basing it on the price of the cryptocurrency.Igloo also explained that Pudgy Penguins, a popular NFT brand, will be the first entry…