⛔️ Celsius Network, a cryptocurrency lending platform, is ceasing withdrawals, exchanges and transfers between accounts "due to extreme market conditions," customers will only receive their interest.
CEL's native token responded with a drop of more than 35%.
This was the result of a "rampage of illiquidity" - Celsius likely just ran out of funds to maintain a huge position of 450,000 stETH.
CEL's native token responded with a drop of more than 35%.
This was the result of a "rampage of illiquidity" - Celsius likely just ran out of funds to maintain a huge position of 450,000 stETH.
The block demonstrated investors' opinions on what influenced the collapse of the crypto market
Lots of people are now talking about the impact of Celsius Network's announcement to suspend withdrawals. But The Block is broadcasting an opinion on the influence of macroeconomic factors on the fall.
One glaring opinion expressed is "would have fallen regardless of Celsius because of macroeconomics."
Interestingly, Bloomberg noted on Monday that the market has entered a "period of selling everything but the dollar."
Traders are going into "safe haven" out of concern that the U.S. Federal Reserve (Fed) may be raising rates more aggressively to fight inflation than anticipated. That's what all the fears are based on.
What conclusion should be drawn from this?
The crypto market is not an isolated system that has always been and will always be influenced by macroeconomic factors
Lots of people are now talking about the impact of Celsius Network's announcement to suspend withdrawals. But The Block is broadcasting an opinion on the influence of macroeconomic factors on the fall.
One glaring opinion expressed is "would have fallen regardless of Celsius because of macroeconomics."
Interestingly, Bloomberg noted on Monday that the market has entered a "period of selling everything but the dollar."
Traders are going into "safe haven" out of concern that the U.S. Federal Reserve (Fed) may be raising rates more aggressively to fight inflation than anticipated. That's what all the fears are based on.
What conclusion should be drawn from this?
The crypto market is not an isolated system that has always been and will always be influenced by macroeconomic factors
🗓The Plan B trader offers sound advice for "days like this"
It's okay to run around. In any case, there's no point in staring at the monitor around the clock. In the long run bitcoin will come to $100,000 anyway, but in the meantime it's better to switch to your favorite things.
But nobody knows what to do for those in the business of staring at quotes in the monitor 24 hours a day 😆
It's okay to run around. In any case, there's no point in staring at the monitor around the clock. In the long run bitcoin will come to $100,000 anyway, but in the meantime it's better to switch to your favorite things.
But nobody knows what to do for those in the business of staring at quotes in the monitor 24 hours a day 😆
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💡 Binance CEO said that even amid the collapse of the crypto market, the company has more than 2,000 vacancies - Binance has the necessary resources to expand its staff and focus on achieving new goals.
Earlier it became known that several major cryptocurrency companies are stopping recruitment of new employees and some are laying off up to 20% of their staff.
Earlier it became known that several major cryptocurrency companies are stopping recruitment of new employees and some are laying off up to 20% of their staff.
OpenSea has migrated to the Seaport protocol
The leading NFT marketplace has switched to the new open-source Seaport protocol.
💬"Seaport's revolutionary product is an open source, inherently decentralized and modern foundation that will help us (and others using it) to create and launch new features faste," OpenSea said.
Among the solution's features:
▫️ gas cost savings;
▫️ no account initialization fee;
▫️ simplified confirmation of wallet transactions;
▫️ and most importantly, the ability to create offers for collections or tokens with specific attributes.
Significant news for the NFT-industry💫
The leading NFT marketplace has switched to the new open-source Seaport protocol.
💬"Seaport's revolutionary product is an open source, inherently decentralized and modern foundation that will help us (and others using it) to create and launch new features faste," OpenSea said.
Among the solution's features:
▫️ gas cost savings;
▫️ no account initialization fee;
▫️ simplified confirmation of wallet transactions;
▫️ and most importantly, the ability to create offers for collections or tokens with specific attributes.
Significant news for the NFT-industry💫
Tether plans to reduce USDT support with securities
Tether, the issuer of the USDT stablecoin, said that it hopes to completely get rid of "commercial paper backing" for its stablecoin, which is pegged to the U.S. dollar, in the future.
In an official statement, the company denied reports that Tether's securities portfolio is 85% backed by Chinese or Asian commercial paper.
The announcement shows that the company is continuing to reduce its current portfolio to a share of $11 billion in securities, a share that should shrink to $8.4 billion by the end of June.
Tether, the issuer of the USDT stablecoin, said that it hopes to completely get rid of "commercial paper backing" for its stablecoin, which is pegged to the U.S. dollar, in the future.
In an official statement, the company denied reports that Tether's securities portfolio is 85% backed by Chinese or Asian commercial paper.
The announcement shows that the company is continuing to reduce its current portfolio to a share of $11 billion in securities, a share that should shrink to $8.4 billion by the end of June.
Despite the rampant downtrend, retail investors are actively accumulating BTC.
According to Into The Block, addresses owning less than 1 BTC have increased their balances by 100,395 BTC since the beginning of the year, with purchases increasing rapidly over the past couple of weeks.
One of the reasons for the activity of small buyers might be the fact that BTC is close to the historical support at the weekly 200 MA. The weekly RSI is also at its lowest level since 2015.
While that does not mean that 20k is the bottom of the market, these indicators used to be a good signal for long-term buying.
According to Into The Block, addresses owning less than 1 BTC have increased their balances by 100,395 BTC since the beginning of the year, with purchases increasing rapidly over the past couple of weeks.
One of the reasons for the activity of small buyers might be the fact that BTC is close to the historical support at the weekly 200 MA. The weekly RSI is also at its lowest level since 2015.
While that does not mean that 20k is the bottom of the market, these indicators used to be a good signal for long-term buying.
📊 Net bitcoin inflows to exchanges from miners reached an all-time high of 88,000 BTC yesterday
Miners have a cost component (equipment/space/electricity/personnel) and when the value of bitcoin is low (as it is now), their margins are significantly reduced.
Nevertheless, they always have to sell some of the mined coins to be able to maintain and grow their business
Miners have a cost component (equipment/space/electricity/personnel) and when the value of bitcoin is low (as it is now), their margins are significantly reduced.
Nevertheless, they always have to sell some of the mined coins to be able to maintain and grow their business
Good news.
The Belgian banking group KBC Group (a major European bank) issued its Kate Coin token.
While it is pegged to the euro, it is "not a cryptocurrency or stablecoin". It is designated for use within the organization's ecosystem and its partners.
Why is the news good?
Well, while the market is going down and some people are losing faith in crypto, the big guys like that are making a move towards blockchain.
The Belgian banking group KBC Group (a major European bank) issued its Kate Coin token.
While it is pegged to the euro, it is "not a cryptocurrency or stablecoin". It is designated for use within the organization's ecosystem and its partners.
Why is the news good?
Well, while the market is going down and some people are losing faith in crypto, the big guys like that are making a move towards blockchain.
Oh, I love this story😂
In 2021, El Salvador's President Nayib Bukele, deciding that the spring was shrinking, bought 420 btcs at $60k+ apiece on the "fall," in hopes of flying ToTheMoon soon🚀
Now the bit is trading around $20k with the country facing default🙂
We're all a little Nayib Bukele these days😂
P.S. Also, he's as much like a person with a private prediction chat line, admit it
In 2021, El Salvador's President Nayib Bukele, deciding that the spring was shrinking, bought 420 btcs at $60k+ apiece on the "fall," in hopes of flying ToTheMoon soon🚀
Now the bit is trading around $20k with the country facing default🙂
We're all a little Nayib Bukele these days😂
P.S. Also, he's as much like a person with a private prediction chat line, admit it
Elon Musk was sued for $258 billion for promoting Dogecoin
American Keith Johnson accused SpaceX and Tesla, as well as their head Elon Musk of promoting the "cryptocurrency pyramid" Dogecoin.
The plaintiff is seeking $258 billion in damages and compensation.
The investor asks to prohibit Musk and his companies from promoting Dogecoin, and to declare that trading in this crypto is "gambling".
American Keith Johnson accused SpaceX and Tesla, as well as their head Elon Musk of promoting the "cryptocurrency pyramid" Dogecoin.
The plaintiff is seeking $258 billion in damages and compensation.
The investor asks to prohibit Musk and his companies from promoting Dogecoin, and to declare that trading in this crypto is "gambling".
That's what the Ledger luxury hardware wallet case looks like, created in collaboration with the Italian fashion house Fendi. The case is made of leather, metal, and other trappings of luxury.
Already available for order, though it costs 1,500 or 1,800 euros.
Already available for order, though it costs 1,500 or 1,800 euros.
In a month and a half, the capitalization of the USDT has fallen by almost 20%.
Before the famous Terra collapse, it was $83.42 billion (as of May 1).
And at the moment, the total market value of USDT stabelcoins issued by Tether dropped to $69.3 billion. The last time the capitalization was at this level was in October 2021.
Against this backdrop, competitors of one of the most prominent stablcoins, have slightly caught up with it.
During the period under review, the dominance of USDT decreased from 50.9% to 45.7%, while the market share of USDC increased from 30% to 36.2%☝🏻
Before the famous Terra collapse, it was $83.42 billion (as of May 1).
And at the moment, the total market value of USDT stabelcoins issued by Tether dropped to $69.3 billion. The last time the capitalization was at this level was in October 2021.
Against this backdrop, competitors of one of the most prominent stablcoins, have slightly caught up with it.
During the period under review, the dominance of USDT decreased from 50.9% to 45.7%, while the market share of USDC increased from 30% to 36.2%☝🏻