Author: Andrei Ionescu
Cryptocurrency markets experienced a wave of turbulence over the past 24 hours, leading to liquidations surpassing $520 million as Bitcoin and Ether faced sharp price swings. Massive Liquidations Across Exchanges Data from Coinglass revealed that approximately 186,000 traders were liquidated, with total liquidations across centralized exchanges amounting to $524.8 million. Bitcoin (BTC) led the liquidations, with over $142.5 million in positions closed, including $101 million in long positions. Ether (ETH) also saw significant liquidations, totaling $89.9 million, with $49.2 million coming from long positions. Liquidations occur when traders’ positions are forcibly closed due to insufficient margin to cover losses during…
Binance has announced the removal of several margin trading pairs from its platform, effective January 16, 2025, at 06:00 UTC. This update impacts both Cross Margin and Isolated Margin trading pairs. Affected Trading Pairs Cross Margin Pairs: Isolated Margin Pairs: Key Dates and Actions Alternative Trading Options Users can continue trading the impacted assets through other available trading pairs on Binance Margin. Important User Guidance For more details, users can refer to Binance’s official channels.
Binance, the world’s largest cryptocurrency exchange, announced plans to delist several spot trading pairs as part of its routine market review process. The move aims to protect users and maintain a high-quality trading environment, the company said in a statement. Spot Trading Pairs to Be Delisted Effective January 10, 2025, at 03:00 UTC, Binance will remove and cease trading for the following pairs: Reason for Delisting The decision to delist these pairs follows Binance’s periodic reviews of trading pairs, considering factors such as liquidity and trading volume. “This ensures a sustainable and efficient trading experience for our users while maintaining…
Bitcoin and ether, two of the largest cryptocurrencies, experienced sharp declines on Wednesday as fears of prolonged inflation weighed on global markets. Macro Fears Trigger a Market Pullback The decline follows macroeconomic signals suggesting persistent inflation and tighter monetary policies. “Both crypto and traditional markets are reacting to the Federal Reserve’s likely decision to maintain elevated interest rates for longer, compounded by inflation fears,” said Min Jung, an analyst at Presto Research. Federal Reserve and Market Sentiment Comments from Federal Reserve Chair Jerome Powell in December hinted at a steadfast approach to inflation control, dampening hopes for imminent rate cuts.…
Spot exchange-traded funds (ETFs) for Bitcoin and Ethereum recorded substantial inflows on January 6, highlighting increasing institutional interest in cryptocurrency investments as the new year begins. Bitcoin Spot ETFs Lead the Charge Bitcoin-focused ETFs saw a total net inflow of $987 million, marking a strong start to 2025. Among the leading ETFs, Fidelity’s FBTC stood out with a net inflow of $370 million, while BlackRock’s IBIT followed closely with $209 million in new investments. These inflows underscore the growing appeal of Bitcoin as a long-term asset for institutional investors, particularly as anticipation builds around favorable regulatory and economic conditions in…
As China grapples with a financial meltdown marked by a declining currency, plummeting stocks, and falling bond yields, some analysts believe capital flight from the country could fuel Bitcoin’s (BTC) ongoing rally. The Chinese yuan (CNY) has dropped to 3.22 per U.S. dollar, its weakest level since September 2023, extending a three-month losing streak. Despite interventions by the People’s Bank of China (PBOC), including stronger daily reference rates and tightened offshore liquidity, the yuan continues to slide. Chinese equities are also struggling. The CSI 300, a benchmark for mainland blue-chip stocks, hit its lowest level since September. Meanwhile, the ChiNEXT…
Upbit, a trusted global digital asset exchange, has announced plans to support trading for Sonic SVM (SONIC) in its KRW, BTC, and USDT markets. Liquidity and Trading Timeline Upbit stated that securing sufficient liquidity for stable trading of Sonic SVM (SONIC) would require some time. The platform plans to provide a detailed announcement at least one hour prior to the trading support activation. Deposits and withdrawals for SONIC will be supported on the Solana network. Users are advised to check the network carefully before initiating transactions. Trading Restrictions To ensure a smooth launch, Upbit will implement the following restrictions during…
Do Kwon, the South Korean entrepreneur behind the catastrophic collapse of the TerraUSD and Luna cryptocurrencies, pleaded not guilty to U.S. fraud charges on Thursday following his extradition from Montenegro. Kwon, co-founder of Singapore-based Terraform Labs, faces a nine-count indictment in Manhattan federal court, including charges of securities fraud, wire fraud, commodities fraud, and money laundering conspiracy. Prosecutors allege that Kwon, 33, orchestrated a series of deceptions that led to the loss of an estimated $40 billion in 2022, destabilizing the broader cryptocurrency market. Court Appearance and Detention At the hearing, Kwon appeared in court wearing an olive-green shirt and…
Binance Alpha, the exclusive pre-selection pool for Binance listings, has announced the addition of three new project tokens: ELIZA, METAV, and FLOCK. This initiative, which highlights projects with strong potential for future Binance listings, provides users with early access to explore innovative tokens before they reach the broader market. Binance Alpha serves as a launchpad for promising blockchain projects, offering early insights and exposure to Binance’s expansive global user base. Details of the Newly Added Tokens By introducing these tokens, Binance Alpha continues to position itself as a hub for identifying and supporting blockchain innovation. About Binance Alpha Binance Alpha…
Binance has announced changes to its Flexible Rate Loan offerings as part of its regular product review process. Starting January 3, 2025, at 5:00 a.m. UTC, the following tokens will no longer be available as loanable assets under Binance Loans (Flexible Rate): Key Details Commitment to Users Binance emphasized that the delisting decision is part of its efforts to offer the most valuable and competitive services. Regular reviews ensure that the platform’s offerings align with user needs and market conditions. For more details on Binance Loans and its available assets, visit the official Binance platform.