Fun

News Feed - 2023-09-15 06:09:00

Ana Paula Pereira3 hours agoCrypto market outflows reached $55B in August as liquidity dwindled — BitfinexCrypto’s liquidity crunch could allow event-based volatility to have a greater impact on prices, according to a recent analysis from Bitfinex.1442 Total views8 Total sharesListen to article 0:00NewsJoin us on social networksCapital outflows in the crypto industry reached $55 billion in August, according to a report released by crypto exchange Bitfinex. 


The analysis is based on the aggregate realized value metric, which measures the realized capital of Bitcoin (BTC) and Ether (ETH) with the combined supply from the top five stablecoins: Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Dai (DAI) and TrueUSD (TUSD). “A deep dive into the data reveals a prevailing trend: by early August, the industry had begun to experience capital outflows," notes the report.


According to this metric, about $55 billion was drained from the crypto markets over the past month. Capital outflows did not just affect Bitcoin but also impacted Ether and stablecoin liquidity. Bitfinex said:“August was the largest red monthly candle for BTC since the bear market bottom was formed in November 2022 at -11.29 percent as per Bitfinex Data." Aggregate market realized value net position change. Source: Glassnode/Bitfinex


The analysis also points to the return of so-called event-based volatility, where isolated events can have a bigger impact on prices and overall market movements. In August, two isolated events had a significant impact on Bitcoin prices. On Aug. 17, a flash crash resulted in a sell-off of over 11.4% for BTC. Similarly, Grayscale’s partial legal victory over the Securities and Exchange Commission on Aug. 29 resulted in a 7.6% price jump within two hours. 


“We believe that while volatility metrics continue to be low, the liquidity crunch in the market has allowed isolated events to have a bigger impact on market movements," said Bitfnex.


Bitcoin open interest has outperformed the crypto markets due to increased institutional interest and wash trading on some exchanges, notes the analysis. Ether futures and options have declined significantly in 2023 when compared to previous years, to $14.3 billion per day, a steep decline of almost 50% from the two-year average.Bitcoin open interest across exchanges. Source: CryptoQuant


The open interest of a particular contract, such as Bitcoin futures or options, represents the total number of open positions. This is a measure of how much money is currently invested in Bitcoin derivatives.


“The trajectory seen in the derivatives market, particularly in open interest across both futures and options, mirrors these patterns of low liquidity," wrote Bitfinex.


Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in# Bitcoin# Business# Ethereum# MarketsAdd reactionAdd reactionRead moreWhat are NFT royalties, and how do they work?Ripple is staring down an opportunity to fix its closed systemBitcoin’s cycles are changing — Bloomberg analyst Jamie Coutts explains how and why

News Feed

Brayden Lindrea7 hours agoShrapnel Web3 shooter won’t let US users cash out, thanks to GenslerAs soon as a gamer cashes out an in-game asset, they realize monetary value, which is where the problem with the Securities
Solana Analyst Expects A Retrace Before It Breaks ATH – Targets Revealed
Este artículo también está disponible en español. Solana (SOL) is trading just 6% below its all-time highs, fueled by a remarkable 16% surge from the $212 demand level. T
Tom Mitchelhill3 minutes agoFriend.tech threatens to punish users if they use copycat appsFriend.tech warned users who choose to jump ship to “forks and copies” will see their existing points forfeited.9 Total viewsL
Reports Claim Beleaguered Crypto Exchange FTX Seeks Over $9 Billion From Investors
Reports Claim Beleaguered Crypto Exchange FTX Seeks Over $9 Billion From Investors On Nov. 10, 2022, two reports said that FTX CEO Sam Bankman-Fried (SBF) is canvassing for emergen
This Company Sets Out to Prove Crypto Mining Has a Place in Your Home
This Company Sets Out to Prove Crypto Mining Has a Place in Your Home Hotmine, a company based in Ukraine which engineers home appliances for crypto enthusiasts, is not new to mi
Playing Around With the SIDUS HEROES Demo Left Me in Great Anticipation for the Game Release in January
Playing Around With the SIDUS HEROES Demo Left Me in Great Anticipation for the Game Release in January SIDUS HEROES is the first ever WebGL, AAA-level, Play-to-Earn, NFT and MMORP
Gas DAO Project Forms to Airdrop Tokens to Ethereum Users That Spent $1,559 in Fees
Gas DAO Project Forms to Airdrop Tokens to Ethereum Users That Spent $1,559 in Fees A new type of airdrop has been very popular during the last quarter of 2021 as quickly assembled
Bitcoin, Ethereum Technical Analysis: BTC at 2-Year Low, ETH Down 20% as FTX Turmoil Leads to Crypto Bloodbath
Bitcoin, Ethereum Technical Analysis: BTC at 2-Year Low, ETH Down 20% as FTX Turmoil Leads to Crypto Bloodbath Bitcoin plunged to a two-year low on Wednesday, as the FTX token sell
Hillary Clinton Warns Cryptocurrency Could Destabilize Nations, Undermine Dollar as World’s Reserve Currency
Hillary Clinton Warns Cryptocurrency Could Destabilize Nations, Undermine Dollar as World"s Reserve Currency Former presidential candidate Hillary Clinton has urged nation-states t
Biggest Movers: DOGE Hits 9-Day High, as LTC Climbs 6% on Saturday
Biggest Movers: DOGE Hits 9-Day High, as LTC Climbs 6% on Saturday Dogecoin rose to its highest point in over a week, as Elon Musk requested that a lawsuit filed against him by inv
UK body proposes property category for crypto assets, SEC sued over status of NFTs: Law Decoded
Josh O"Sullivan2 hours agoUK body proposes property category for crypto assets, SEC sued over status of NFTs: Law DecodedThe Law Commission’s final report urges the UK government to reclassify crypto assets, addressing
Eigenlayer releases EIGEN white paper, bans airdrop for US users
Christopher Roark4 hours agoEigenlayer releases EIGEN white paper, bans airdrop for US usersThe EIGEN token will be used to form consensus around data that is off-chain but easily verifiable, such as whether someone won