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Bitcoin holds above $ 30k
The bitcoin price dropped more than 25% and even traded around $ 30,000 per US dollar.
Bitcoin price plummeted after it broke the $ 35,000 support. A low of around $ 30,359 has been formed and it appears that the bulls continued to move above $ 30,000.
There was a break above the 23.6% Fibonacci retracement level of the downtrend from the swing high of $ 41,199 to the swing low of $ 30,359. However, the price is now facing strong resistance near the $ 35,000, $ 35,800 and $ 36,000 levels.
Ethereum recovers losses: why ETH may face resistance around $ 1130
Ethereum fell nearly 30% and tested the $ 900 support zone against the US dollar.
The ETH price fell almost 30% and broke many important supports around $ 1120 and $ 1050.
There was also a break below the $ 1000 support level and the price was trading close to the $ 900 level. The swing low was formed around $ 912 before the price started to rise again. It looks like the bulls were protecting the last swing area around the $ 900-920 zone.
Binance Teams Up With Orbs Blockchain To Launch DeFi Accelerator
An Israeli blockchain startup and Binance have teamed up to launch a new initiative in the DeFi space.
Leading cryptocurrency exchange Binance has teamed up with Israeli blockchain company Orbs to become the first major sponsors of the DeFi-related program. Called the DeFiOrg Accelerator, it aims to expand research, development and community participation in the field of decentralized finance.
Bitcoin active addresses, trading volume is now at an all-time high
Trading volumes and active addresses for Bitcoin have surpassed their previous record highs.
CryptoCompare data shows bitcoin trading volumes on eight major exchanges topped $ 11 billion, a new all-time high since the previous record during the 2017 crypto bull market.
“This is primarily a sign of how much larger and more mature the industry is, where there is a lot more money flowing on these exchanges,” said Bendik Norheim Schei, head of research at Arcane Research.
Ripple Price Analysis: XRP Down 18% As Crypto Market Is Correct, Support Nearby?
XRP price plummeted 18% to hit the current $ 0.273 level.
XRP bounced from $ 0.25 last week to the resistance level at the 200-day EMA. It has traded sideways along with the 200-day EMA for the past five days, but a 15% drop in bitcoin price today resulted in an 18% drop in XRP as it slides off the 200-day EMA at $ 0.32 to the current the level of $ 0.273.
$ 2.9 billion: bitcoin liquidation will lift the broader market
The barrage of bitcoin futures liquidation has sparked a broader market reaction, according to trade executives.
The data shows that the liquidation of long positions in Bitcoin futures on Sunday exceeded $ 1.47 billion. Additional ByBt data shows that liquidations totaled nearly $ 2.9 billion in the last 24 hours.
A combination of liquidations and low liquidity during the weekend’s trading session drove prices down, according to FTX chief executive Sam Bankman-Fried.
Liquidating Bitcoin Futures
Bitcoin Futures Bakkt Platform Goes Public With $ 2.1 Billion Valuation
Bakkt has officially announced that it will go public following the completion of its merger with specialist company VPC Impact Acquisition Holdings.
Bakkt issued a press release announcing that the VPC and a “group of investors and strategic partners” have signed an agreement to publicly list their Bitcoin futures trading platform.
Following the merger, the combined company will be renamed Bakkt Holdings, Inc. and will be listed on the New York Stock Exchange. The estimated cost of the enterprise is about $ 2.1 billion.
Tether Mints hit record $ 2 billion in week
Tether printed two billion dollar tokens last week, a new record for the leading stablecoin project.
There are currently over 24.6 billion pegs circulating through Bitcoin’s Ethereum, Tron and Omni Layer, up from 4.8 billion a year ago, according to Coin Metrics.
Walmart unveils new fintech startup in partnership with Ribbit Capital
Walmart has co-founded a financial services-focused fintech startup with Ribbit Capital, according to the announcement.
According to a press release, the as-yet-unnamed startup will focus on “modern, innovative and affordable financial solutions.”
The startup’s board will include Ribbit Managing Partner Mickey Malka, Walmart US CEO John Furner, and Walmart CFO Brett Biggs.
Walmart’s press statement pointed to future acquisitions for other services, indicating that “growth can be driven by partnerships and acquisitions with leading fintech companies.”