Crypto markets last week saw one of the biggest long liquidation events since FTX’s collapse, with little buying pressure over the past few days.
Wednesday, with over $1.7 million worth of tokens in a bridge, or a tool used to transfer tokens between two blockchains, said to be stuck owing to a bug in the code.
Some gainers among altcoins include optimism and rollbit coin , each buoyed by increased user activity. RLB jumped 18% in the past 24 hours, extending a multiweek trend as protocol usage shows no signs of slowing. Bitcoin investors are continuing to load up on the asset because the price is considered to be discounted relative to fundamentals, according to Michael Silberberg, head of investor relations at AltTab Capital.
“We've been seeing increased Bitcoin futures trading lately," Silberberg said in an email to CoinDesk."While there has been more open interest on the short side, there has also been accumulation in both directions as the market moved sideways in thin liquidity. This means many traders were betting on Bitcoin's price movement.”
“Despite this drop, we still saw net inflows over the past week as long-term investors, like ourselves, saw discounted prices as an opportunity to accumulate more Bitcoin,” Silberberg said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HBAR, OP, INJ and RUNE flash bull signals as Bitcoin price looks for stabilityHBAR, OP, INJ and RUNE could continue to attract buyers if Bitcoin stays above $25,000
Read more »
Dow futures steady after losing week By Investing.comDow futures steady after losing week
Read more »
The steady slide in US Treasuries should keep the Dollar in demandThe Dollar looks set to hold onto its gains this week, economists at ING report. Treasury slide supports the Dollar US 10-year yields are closing in o
Read more »
Let’s rise above the opposition to offshore windClimate activists urge the state to turn the heat up and move forward.
Read more »
Box Office: ‘Blue Beetle’ Buzzing Above ‘Barbie’ After $10 Million Opening Day, ‘Strays’ Looking HangdogAfter four weekends of pink, the box office is going blue. Despite a muted opening, DC Studios’ “Blue Beetle” looks to dethrone fellow Warner Bros. release “Barbie” af…
Read more »
PM Update: Above-average warmth gains additional humidity tonight, MondayHeat index values could hit the upper 90s in a few spots Monday. Wildfire smoke is expected to stay moderate.
Read more »