Tag: 112M

Bitcoin traders decimated by $112m of liquidations

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Over the past 24 hours, 41,186 Bitcoin traders were liquidated, according to data from Coinglass. The total value of these forced sell-offs was $112.67 million, highlighting the increasingly bearish sentiment around the cryptocurrency. The largest single liquidation order during this period took place on Binance for $4.53 million worth of Ethereum (ETH) against Bitcoin (BTC). This indicates traders betting on a bounce for Ethereum against Bitcoin, a bet swiftly stopped out. These liquidations come as Bitcoin’s price languishes well below its all-time high. Bitcoin is trading around $27,692, representing a…

Singapore commits $112M to support fintech solutions like Web3

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The Monetary Authority of Singapore (MAS), the country’s central bank, has announced that it is committing up to 150 million Singapore dollars (around $112 million), to support various financial technology solutions like Web3.  In an announcement, MAS highlighted that the funds will be spent in three years under its renewed Financial Sector Technology and Innovation (FSTI) scheme. According to the announcement, the new scheme will aim to “accelerate and strengthen innovation” by supporting projects that use cutting-edge technologies.  The Monetary Authority of Singapore (MAS) will commit up to S$150 million over…

Galaxy Digital reports $112M Q1 loss, citing crypto price volatility

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Cryptocurrency investment manager Galaxy Digital Holdings reported a sharp loss in the first quarter due to unrealized losses in its digital asset portfolio, underscoring heightened volatility in the digital asset sector in 2022.  Galaxy Digital reported a net comprehensive loss of $111.7 million in the quarter ending March 31, compared to a gain of $858.2 million in the same quarter of 2021, the company announced Monday. In addition to unrealized losses in its digital asset portfolio, Galaxy’s overall losses were also attributed to investments in its trading and investment businesses.…

Ethereum price lingers at key resistance days before $112M options expiry

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Ether (ETH) options contracts open interest have grown five-fold in the past three months to currently sit at $452 million. The $112 million set to expire this Friday could have a considerable market impact, although that will depend on the balance between bullish and bearish strategies. Ether options total open interest. Source: Skew The above chart shows just how strong the ETH options market has been in the past month. Although its open interest might seem modest compared to Bitcoin’s (BTC) $1.9 billion options market, ETH options have become more…