Home Bitcoin The Bitcoin “Crash” Sees Worth Drop to $47ok (Feb. 23, 2021)

The Bitcoin “Crash” Sees Worth Drop to $47ok (Feb. 23, 2021)


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Good morning. Welcome to Tuesday Trades, a part of our new sequence: BitPinas Every day. We are going to look again in any respect the key information and updates that occurred this week. Crypto is world, however typically information that issues occurs whereas we sleep. So we deliver to you what’s taking place in our area right here and overseas. We spotlight three to 4 vital information of the previous week and checklist down the remaining.     

Market Worth as of February 23, 2021:

Bitcoin $54,142 -5.82%
Ethereum $1,777 -8.07%
BNB $267 -9.49%
DOT $37.63 -4.93%
ADA $1.097 -0.09%
SLP $0.06 -0.5%

Bitcoin closed February 22, 2021, at $54,142 per BTC. We’re up 3% within the final 7 days and up 86% because the 12 months started. That is additionally 7% new all-time excessive is $58,640, which was hit on Feb. 21, 2021.

Bitcoin’s market capitalization stands at the moment at $1,000,625,641,927 which is 59.74% of the complete cryptocurrency market. Your complete crypto market, by the way in which, now has a market cap of $1,667,342,938,140 (-7%).

On the desk above, there’s the cryptocurrency SLP. If you happen to marvel what that’s, take a look at this text: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.


Ethereum Mining’s Month-to-month Income Reaches All time excessive over $1 billion in February

It doesn’t come as a shock that Ethereum mining income has reached $1 billion this month. From that quantity, $541 million comes from transaction charges. Transaction Charges!

Right here’s the chart from The Block:

The publication additionally famous that the expansion displays the surging curiosity in ETH mining, as demonstrated by GPU shortages and Nvidia releasing a brand new line of devoted crypto mining {hardware}.


Worth Decreases Throughout The Board Triggered Second Highest Quantity of Liquidations

Out of the $24.1 million quantity that was liquidated, $13.7 got here from Compound. Subsequent one is Aave with $5.Four in complete. The final time one thing this massive occurred was November 26, 2020, when a “momentary” value improve in DAI led to Compound liquidating $88.Four million value of collateral. Extra info from The Block right here. 


Bitcoin Transfers To Exchanges Surged, Extra Promoting Strain within the Future?

In keeping with knowledge from Glassnode, as reported by Coindesk, round 40,000 BTC was transferred to main crypto exchanges starting Friday. This pushed the degrees of Bitcoin reserves in these platforms. A lot of the influx went to Gemini, 34,000 BTC to be precise.


PDAX Suffers Outage

We’ve up to date our article based mostly on new statements from the BSP, from PDAX, and from among the affected clients. 

What else is going on

  • Elon Musk on Gold: “You Would possibly as Properly Have Crypto”
  • Hundreds of Customers Flock to Binance Sensible Chain’s Newest Apps
  • Three Bitcoin value metrics show bulls weren’t fazed by at the moment’s $1.6B liquidation
  • Can’t beat ‘em? Be part of ‘em: Mastercard and Visa make a case for Bitcoin

This text is revealed on BitPinas:  The Bitcoin “Crash” Sees Price Drop to $47k (Feb. 23, 2021)

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