Celsius’ Woes and Rampant Inflation Prompts Extreme Fear – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock The total crypto market cap has dropped below $1 trillion for the first time since January 2021. After the weekend started at $1.16 trillion, the value of all cryptocurrencies reached a low of $940 billion this morning, as Bitcoin plummeted below $24,000. How has this all happened? Many think it is mainly due to fear surrounding the insolvency risk of one of the biggest lending platforms Celsius, after it has been widely speculated that they have been irresponsible with client funds.…

DOGE, SOL Hit 1-Year Lows as Cryptos Crash – Market Updates Bitcoin News

DOGE and SOL were some notable movers on Monday, as crypto markets were once again hit by a red wave. DOGE dropped to its lowest level since April 2021, whilst SOL was also trading close to a one-year low to start the week. Solana (SOL) SOL’s sell-off saw prices fall to their lowest level since July last year, as crypto markets were down across the board. The world’s ninth-largest crypto token dropped by over 17% on Monday, hitting an intraday low of $26.45 in the process. This drop came less…

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Ethereum price flash crashes to $950 on Uniswap as whale dumps 93K ETH

Ethereum’s native token Ether (ETH) fell to as low as $950 on Uniswap—a decentralized crypto exchange— this June 13, about 20% lower than its spot rate across other exchanges. ETH/USD hourly price chart. Source: Uniswap Over $130M ETH sold in six hours The incident happened at around 3:00 am UTC after a whale dumped 65,000 ETH for multiple “stablecoins,” including USD Coin (USDC), Tether (USDT) and Dai (DAI). A piece of evidence noted that the whale sold its ETH holdings to pay off nearly $73 million worth of debt at…

Bitcoin analysts are watching these BTC price levels as key trendline looms

Bitcoin (BTC) is trading at its lowest since mid-December 2020 on June 13, but the bottom could be anywhere. As the weekend sell-off intensifies, BTC/USD has now broken below its realized price for the first time since March 2020, data from Cointelegraph Markets Pro and TradingView confirms. Bitcoin clings to realized price At around $23,400, realized price — the average price at which each BTC last moved — is acting as the first solid support so far on lower timeframes. Bitcoin realized price vs. BTC/USD chart. Source: Glassnode Previous levels, including…

Can the Optimism blockchain win the battle of the rollups?

Ethereum is plagued with criticisms of its less than optimal scaling capabilities and high gas prices. There have been talks about increasing the scaling capacity of the Ethereum mainnet for a while now.  However, the Ethereum ecosystem needs a solution for scaling right now, and if Ethereum is not able to give these new applications a platform with enough scaling capabilities, they can seek alternatives like the BNB Chain or Cardano. Optimism rollout was created to solve exactly the scalability problem of Ethereum. Optimism Rollup network is one of the…

Bitcoin Drops To 18-Months Lows, Has The Market Seen The Worst Of It?

Bitcoin is once again leading the market in the most recent descent into the red. This has seen the pioneer digital asset fall to 18-month lows and it has taken the rest of the market down with it. In such climes, it is usually advised that investors remain calm but that is easier said than done. Bitcoin which looked poised to visit the mid-2020 levels has not formed any kind of support and as such the market continues to wonder if the worse is yet to come. More Bitcoin Dumps…