$3.7 billion liquidated as crypto markets react to Biden’s tax scare
The global crypto market cap is $1.84 trillion with a 24-hour volume of $296.3 billion. The price of Bitcoin is $49,887.97 and the BTC dominance is at 50.7%.
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by Shaurya Malwa
Over $3 billion worth of crypto positions were liquidated this morning amidst a broader sell-off, data from multiple sources showed. Some market watchers attributed the drop to a proposal made by US president Joe Biden yesterday.
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As Ethereum’s gas fees skyrocket and the Binance Smart Chain sees performance issues, Reef Finance is stepping into the fray with its new Reef Chain.
India’s officials are currently discussing the possibility of providing an “exit window” that would allow crypto holders to get rid of their assets ahead of the potential ban on all “private” digital currencies, The Indian Express reported today.
Californian startup Hitch is collaborating with South African artist Daniella Attfield to create a unique non-fungible token (NFT) art piece that benefits the climate, it said in a release shared with CryptoSlate.
Scott Minerd, the Chief Investment Officer of famed investment firm Guggenheim Partners’, says Bitcoin (BTC) could see a 50% drop in the near term as it’s run ‘too far, too fast.’ He made the comments in an appearance on CNBC show Worldwide Exchange yesterday.
Bitcoin (BTC) recently went through one of the steepest corrections seen since the beginning of the year. After rising to a new all-time high of nearly $65,000 on April 14, the world’s largest cryptocurrency by market cap took a 7.50% nosedive.
Bitcoin mining farms and renewable energy facilities can greatly help each other to create an “abundant, clean energy future,” according to a joint research report published by payments company Square and asset manager Ark Invest yesterday.
Eun Seong-soo, chairman of the Finance Committee in South Korea, said this morning that over 200 cryptocurrency exchanges at the risk of being closed down in September this year if they fail to follow the relevant regulations, as per a report on leading local outlet Chosun.
Hong Kong-based Huobi Asset Management announced the launch of Bitcoin (BTC), Ethereum (ETH), and mining-related funds for professional investors yesterday, it said in a release shared with CryptoSlate.
Ever closer to mainstream adoption, new partnerships between key industry players are helping to step up the real-world usability of crypto products.
Most people forget that “money” started out as stones and rocks, to seashells and salt, whenever it was initially conceptualized thousands of years ago. It was only a few hundred years ago that ‘paper’ money and government-issued tender became commonplace for the transfer of value.
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