Total crypto market cap drops by 6.7%, but futures data finds a silver lining
Metaverse, gaming and incentive-offering DeFi tokens pumped last week even as Bitcoin and the total crypto market capitalization dropped. Here’s why. Looking at the past seven days of winners and losers might give one the impression that cryptocurrency markets are net positive. Still, total market capitalization actually fell by 6.7% to $2.72 trillion as Bitcoin's (BTC) price retraced 8.3% to $58,425.Top winners and losers from the sector's top 80 coins. Source: NomicsThe only connection between this week's top gainers seems to be the metaverse and gaming sector, which has been on a bull....
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Data shows $450 million in crypto futures has liquidated over the last 24 hours as Bitcoin has broken past $47k and the overall market has observed a surge. $450 Million In Crypto Futures Liquidates, 75% Of Which Involves Shorts Yesterday, Bitcoin and the wider market started on a sharp uptrend, taking the total market cap […]
Data shows the crypto futures market has observed around $150 million in liquidations in the past day as the price of Bitcoin drops below $22k. $150 Million Gets Liquidated In The Crypto Futures Market During Last 24 Hours In case anyone isn’t aware of what “liquidations” are, it’s best to first take a brief look […]
Bitcoin price spikes continue as data reveals exchange activity is anything but flat this week. Bitcoin (BTC) whales are moving large amounts of coins to exchanges in tandem with large outflows, curious new data shows. According to the exchange whale ratio indicator from on-chain analytics firm CryptoQuant, large transactions have accounted for over 90% of recent exchange deposits.Top 10 deposits make up 90% of exchange inflowsIn a marked change from previous behavior, over the past week, whales have become much more active prospective sellers on exchanges.The exchange whale ratio, which....
The total volume of stablecoins in circulation is closing in on the $20 billion mark, while the market-leading coin, USDT’s share of the total circulating supply continues to shrink, data from Coinmetrics shows. According to the data, USDT now accounts for an estimated at 80% of total supply, and the majority of the coins are now issued on the Ethereum and Tron networks. Out of the total supply, the USDT-ETH accounted for approximately 53% while USDT-TRX took just over 20% of USDT’s total circulating supply. On the other hand, USDC, which has a market capitalization of $2.53....
A staggering $5.64 billion worth of futures positions was liquidated in the last 24 hours as the price of Bitcoin dropped 17%. The price of Bitcoin (BTC) plummeted by more than 17% in the last 24 hours as the futures market saw mass liquidations across the board.Liquidations occur when leveraged futures positions fall to a certain threshold. For example, a position using 10x leverage would get liquidated or turn worthless if the price of BTC drops by 5%.What triggered the mass Bitcoin liquidation fest?If the Bitcoin futures market is highly overleveraged and overcrowded, a minor price....