Crypto Drop

Depricated as of Oct 2022

Some CRYPKYP functionalities are depricated as of October 2022 and will no longer be populated until further development and future version.
Although all here is visible and interactable you can not Contribute to those articles.
Try looking at other information on the Platform and Contributing there!

Have a great day,

Amount Liquidated: Over $540M, and as a result, Bitcoin and Ethereum Fall

Crypto Drop
Crypto Drop / Image Credit: CRYPKYP
Source: Decrypt
1660904929 19 Aug / 10:28

According to statistics from CoinMarketCap, Bitcoin (BTC) continued to see unfavorable price movement for the third day in a row, plummeting to a weekly low of $21,814 today.

Bitcoin is selling at about $21,785 per unit after a brief bounce, down 6.9% daily despite a 7.69% increase in daily trading volumes.

Bitcoin's market value has more than halved, falling from $1.27 trillion in November last year to under $417 billion. The market value of Ethereum, the second-largest cryptocurrency, has also dropped to roughly $1,728 in the last day, a 6.2% drop.

According to information from CoinMarketCap, ETH’s market cap is currently $211.5 billion, down 64.49% from its all-time high of $4,891 in November.

According to data from Coinglass, almost $537 million from 156,155 traders have been liquidated in the cryptocurrency market during the last 24 hours amid the unfavorable price movement.

With $201.3 million, Bitcoin has the most liquidations, followed by Ethereum with $132.7 million during the same period.

Bloated long holdings accounted for most liquidations for the two most popular cryptocurrencies.

According to CoinMarketCap, several other cryptocurrencies, such as Binance Coin (8%), Solana (11.6%), Polygon (11.85%), and Avalanche (14.3%), have also experienced steep declines during the previous 24 hours.

The Fed’s anticipated rate hike next month and the decreased DeFi activity are likely factors in the market’s unfavorable pricing behavior.

According to the Wall Street Journal, St. Louis Fed President James Bullard is in favor of raising interest rates by 0.75% by next month. According to Reuters, San Francisco Fed President Mary Daly also confirmed a rate increase of 0.50% or 0.75% for next month.

Both parties agree that rates may be raised provided the inflation rate is kept in check.

Since last week, user engagement on all DeFi applications on Ethereum has decreased due to worries over the impending merge event.

The volume of trade on decentralized exchanges (DEX) has decreased 34% during the last 24 hours, according to statistics from Dune Analytics.

Data from DefiLlama shows that over the past 24 hours, the total value locked (TVL) across all blockchains has decreased by more than 3.75%, indicating a decline in user interest in DeFi.

Last News and Media
CRYPKYP contain links to third-party websites, resources, and advertisers. CRYPKYP does not control, sponsor, recommend or otherwise accept responsibility for any third-party content because we are not responsible for the availability of these outside resources or their contents or privacy practices. It will help if you direct any concerns regarding any third-party content to such a third party. We don't accept responsibility for the content of external websites linked to through the Site or the Services. Third-party content is accessed at the user's own risk. CRYPKYP distributes content from third-party publishers as indicated on the site from time to time mainly in Airdrops, News / Media, Whale Alerts, and Rumors. In these circumstances, CRYPKYP only provides limited stylistic input to the content. CRYPKYP does not verify and takes no responsibility for the accuracy of the content provided by any such third-party publishers.