October 10th Crypto Crash: Expert Foresees New Wave Of Lawsuits Against ‘Mani...
On October 10, the crypto market experienced its largest liquidation event in history, prompting experts like MartyParty to predict a surge in lawsuits and class action claims against what he describes as “market manipulators.” Expert Claims Manipulation Led To October 10 Crypto Crash The aftermath of this crash has seen Bitcoin (BTC) and other major cryptocurrencies continue their downward trend this week, with BTC recently falling below the critical $110,000 threshold. Ethereum (ETH), XRP, and Binance Coin (BNB), the largest altcoins, recorded losses of 10%, 17%, and 7%, respectively,....
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On Friday, the Bitcoin price experienced another flash crash, dipping toward $103,000 from $109,300. While not as alarming as the sharp decline seen on October 10, this latest downturn has ignited fresh speculation regarding the cryptocurrency’s future trajectory. A Temporary Setback? Comparisons are being made to past market crash events, such as the COVID crash in 2020 and the downturn in May 2021. However, market expert VirtualBacon emphasizes that the current situation is fundamentally different. The expert noted that in 2020, a widespread collapse affected various assets,....
An obscure spread at the heart of US money markets just flashed a bright warning, and crypto traders are pouncing on the signal. The Secured Overnight Financing Rate (SOFR) printed 4.29% on Wednesday, while the Federal Reserve’s overnight reverse-repo (ON RRP) award rate sat at 4.00%, putting the SOFR–RRP spread at 29 basis points on a non-quarter-end day — an unusually wide gap that points to tightening funding conditions in the plumbing of the financial system. On the same day, the Fed’s Standing Repo Facility (SRF) was tapped for $6.5 billion — the largest non-quarter-end draw since its....
XRP, the fourth-largest cryptocurrency in the market, experienced a notable flash crash on October 10th, plummeting toward $1.25, with a subsequent decline last week bringing it down to $1.82. Fast-forward to the end of the month: The digital currency has reclaimed some ground and surpassed the $2 mark in the past 24 hours. However, obstacles […]
The head of the Russian parliamentary committee on financial markets and the country’s first crypto law’s author is forecasting a “surge in token issuance” for 2021 in the wake of the promulgation expected to take place in January. Russian Parliament Expects a ‘Surge in Token Issuance’ for 2021 After Crypto Law Promulgation According to the Parliamentary Gazette, Anatoly Aksakov claimed that a “big number of large enterprises” had asked the State Duma (Russian Parliament) to pass the law as soon as possible. Also, he adds that such businesses....
The XRP community is buzzing after a prominent crypto expert hinted that a development could soon shake the market. The timing is especially significant as attention builds toward October 18, the deadline for a key regulatory decision on XRP exchange-traded funds (ETFs). With speculation and anticipation running high, it now stands at the center of […]