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CATEGORY: market decline

Stablecoin Turmoil: $1.53 Billion Redeemed in a Month Amid Declining Trade Volume
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Aug 07, 2023 10:30

Stablecoin Turmoil: $1.53 Billion Redeemed in a Month Amid Declining Trade Volume

In the brief span from July 12, 2023 to August 6, 2023, the stablecoin economy witnessed a staggering loss exceeding $1.53 billion in value. Among the premier ten stablecoins, Pax’s pax dollar (USDP) experienced a redemption of 39% of its supply over the preceding 30 days. Unstable Times for Stablecoins: Major Players Hit with Sweeping [...]

The post Stablecoin Turmoil: $1.53 Billion Redeemed in a Month Amid Declining Trade Volume appeared first on Crypto Breaking News.

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Bitcoin’s Plunge Below $29K Triggers $92 Million in Derivatives Liquidations; Crypto Markets Tremble
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Aug 01, 2023 10:30

Bitcoin’s Plunge Below $29K Triggers $92 Million in Derivatives Liquidations; Crypto Markets Tremble

As bitcoin dipped below the $29K threshold and the overall crypto economy experienced a 1.4% decrease to $1.17 trillion, cryptocurrency derivatives markets underwent $92 million in liquidations, primarily in long positions. Cascading Effect: Bitcoin’s Fall Under $29K Sparks $92 Million in Liquidations The crypto economy, along with a significant number of digital assets, faced a [...]

The post Bitcoin’s Plunge Below $29K Triggers $92 Million in Derivatives Liquidations; Crypto Markets Tremble appeared first on Crypto Breaking News.

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