The total cryptocurrency market capitalization dropped by 24% between Nov. 8 and Nov. 10, reaching a $770 billion low. However, after the initial panic was subdued and forced future contracts liquidations were no longer pressuring asset prices, a sharp 16% recovery followed. Total crypto market cap in USD, 2-days. Source: TradingView This week’s dip was
admin
Up until the start of this week, Bitcoin (BTC) had been demonstrating record-low volatility, and this gave altcoins enough latitude to paint some nice technical setups. At the same time, on-chain data and technical analysis were beginning to suggest that BTC was midway through carving out a bottom, and many analysts believed that brighter days
Companies developing software solutions for foreign customers are urging Russian authorities to allow them to accept crypto payments. The proposal is part of a package of measures aimed at supporting IT exports suggested by an industry organization to the executive power in Moscow. IT Businesses Call on Russian Government to Permit Cross-Border Crypto Settlements Russian
The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States that the regulator requested the exchange halt operations for its Europe arm. According to a Nov. 11 Reuters report, the CySEC said it had asked FTX Europe to “suspend its operations
Amid the ongoing market turbulence for Bitcoin (BTC) and other cryptocurrencies, some big investors are waking up to move their BTC holdings that were untouched for about a decade. According to on-chain data, seven dormant Bitcoin wallets awakened on Nov. 11 to move a total of 3,500 BTC ($60,6 million) to new addresses. A transaction
The annual supply rate of Ether (ETH) slipped below zero for the first time since Ethereum’s transition to proof-of-stake via the Merge in September. The reason? A spike in on-chain activity amid a massive cryptocurrency market crash. Ether turns deflationary for real As of Nov. 9, more Ether tokens are being burned than created as a
After it was discovered that FTX was dealing with financial issues and the crypto exchange paused withdrawals, U.S. regulators started to take notice. On Nov. 10, 2022, California’s Department of Financial Protection and Innovation (DFPI) published a consumer alert and said the state regulator was “investigating the apparent failure of crypto asset platform FTX.” California’s
Ether (ETH) price shed roughly 33% between Nov. 7 and Nov. 9 after an impressive $260 million in future contracts longs (buyers) were liquidated. Traders using leverage were surprised as the price swing caused the largest impact since Aug. 18 at derivatives exchanges. Ether/USD 4-hour price at Bitfinex. Source: TradingView The $1,070 price level traded
United States senators Debbie Stabenow and John Boozman have doubled down on their commitment to publishing a final version of the Digital Commodities Consumer Protection Act 2022 (DCCPA) in the wake of FTX’s shocking collapse. For a short time, the cryptocurrency community wasn’t sure how the senators would respond to the FTX crisis — as
The Department of Financial Protection and Innovation (DFPI) in the state of California announced on Nov. 10 that it will open up an investigation as to the “apparent failure” of the cryptocurrency exchange FTX. California regulators said in the announcement that the DFPI takes this oversight responsibility “very seriously” and that the department expects all
In light of the FTX liquidity crisis and the near-acquisition by Binance, Binance CEO Changpeng “CZ” Zhao assured his community that his network would provide full transparency on asset holdings. On Nov. 10, Binance published a new page titled “Proof of Assets” on which all details are available of its on-chain activity for its hot and
The Bahamas Securities Commission (BSC) — the country’s securities regulator — froze the assets of FTX Digital Markets (FDM) and “related parties” on Nov. 10 and suspended FTX’s registration in the country. In a statement the BSC said it was aware of “public statements suggesting that clients’ assets were mishandled, mismanaged and/or transferred to Alameda
Solana (SOL) is on the track to log its worst daily performance on record. On Nov. 9, SOL’s price dropped more than 40% to around $16 primarily due to its association with Sam Bankman-Fried, the founder of crypto-focused hedge fund Alameda Research and cryptocurrency exchange FTX. SOL/USD daily price chart. Source: TradingView Sam tokens get
Bitcoin (BTC) crashed below $16,000 on Nov. 9, driving the price to its lowest level in two years. The two-day correction totaled a 27% downtrend and wiped out $352 million worth of leverage long (buy) futures contracts. To date, Bitcoin price is down 65% for 2022, but it’s essential to compare its price action against
Optimism developers jvmi and Kelvin Fichter released a new app called Magic Mirror on Nov. 9 that allows NFT holders to copy or “mirror” their Optimism NFTs to the Ethereum mainnet. NFT holders can now use their Optimism NFTs in a variety of verified apps, such as in Twitter’s profile badge system — where previously,
Bitcoin (BTC) and crypto markets saw fresh volatility on Nov. 10 after stablecoin Tether (USDT) unpegged from the United States dollar. USDT/USD 1-day candle chart (Binance US). Source: TradingView Tether executive: “No issues” with USDT Data from Cointelegraph Markets Pro and TradingView showed USDT hitting lows of $0.971 on Bitstamp on the day amid fears
