Alameda supplied over 6.9 million FTT, worth $35 million at writing time, to DeFi lending application Abracadabra. Another 4.6 million SUSHI, worth $6.11 million, is held on the DeFi exchange SushiSwap. “She could withdraw and sell at any time,” Lookonchain said, referring to Alameda co-CEO Caroline Ellison. Source link

Source: Ethereum.org Ethereum network fees skyrocketed tenfold to as much as 318 Gwei on November 8 with a simple transaction nearing the level of $10 at one point. This, paired with the ongoing crypto market crash, has triggered a decrease in the coin’s price to below the level of $1,200. The prices of other tokens have also dropped sharply over the past 24 hours. As a result of the latest spike, transactions carried out via… Source link

This is an opinion editorial by Josef Tětek, the Trezor brand ambassador for SatoshiLabs. So FTX is rekt after all. As we’ve witnessed throughout the year, even the “reputable” industry actors are basically just high rollers who got lucky for some time — until reality catches up with them. Bitcoin is an unforgiving phenomenon. The sheer reality of its 21 million limit and the intrinsic inability to print any more should put everyone’s ego on mute; but from time to time there come… Source link

Bitcoin’s drop to a multi-year low is a worrying sign that might push the remaining investors away from the market. However, it is still important to understand and break down what exactly caused such a major drop in market value and if bears are to blame. According to on-chain data shared by Santiment, “overzealous” traders who have been trying to short the mild Bitcoin recovery yesterday lost a significant amount of funds during the unexpected recovery of the digital gold. 😵‍💫 Source link

Bitcoin (BTC) liquidated $200 million of long positions on Nov. 8 as BTC price briefly tumbled to two-year lows. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price sets new two-year low Data from Cointelegraph Markets Pro and TradingView revealed carnage across crypto price charts as exchange FTX kept the mood low. After initially rebounding over $20,000 on news that the embattled FTX might be bought out by competitor Binance, panic returned after the Wall Street open. BTC/USD… Source link

Ethereum extended losses below the $1,400 support against the US Dollar. ETH is consolidating and might recover if there is a clear move above $1,340 resistance. Ethereum started a major decline below the $1,400 and $1,350 levels. The price is now trading below $1,400 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair is down over 10% and… Source link

Bitcoin price declined over 10% and even spiked below $18,000. BTC remains at a risk of more losses, as the FTX faces more heat. Bitcoin started failed to recover ground and declined over 10%. The price is trading below $19,500 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $18,380 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down towards the… Source link

KanawatTH/iStock via Getty Images Thesis Summary Bitcoin (BTC-USD) has just sold off, going as far as breaking below the June low. This can be attributed partly to the recent debacle between FTX (FTT-USD), Alameda and Binance (BNB-USD). However, this can also be explained by technical analysis, and I was personally expecting a sell-off like this. Another Liquidation Event The recent sell-off has coincided with increased concerns that FTX could become insolvent, which became an issue when… Source link

After topping the $21,500 mark on Nov. 4, Bitcoin (BTC) price is down by 14% on Nov. 8, reaching a new yearly low at $17,166 and most altcoins are following suit.  While the Binance and FTX news initially caused an uptick in the market, the day turned south as various unconfirmed sources speculate that FTX’s losses could show a $6 billion deficit. This price decline breaks Bitcoin’s short-term correlation to the stock market, with the tech-heavy Nasdaq down only 0.32%, while the Dow… Source link

Alex Dovbnya The Bitcoin price has collapsed to a new yearly low amid the FTX drama The price of Bitcoin crashed to a new yearly low of $17,114 on the Bitstamp exchange before paring some losses.  Image by tradingview.com The largest cryptocurrency is now down as much as 15.7% over the last 24 hours.     The cryptocurrency market has been hit extremely hard by the FTX drama. As reported by U.Today, Binance agreed to acquire its arch-rival earlier today after it turned out that the… Source link