Share this page!

Maybe Scrolly?
COIN360 Profile picture
Twitter logo
Jun 15 • 11 tweets • 8 min read
0/ June 8 - 14 was severe for crypto and the broader financial markets as the U.S. CPI resulted in a strong reaction.

$BTC recorded red candles every day from June 7, which meant there was not enough buying power. The intensified sell-off on June 13 caused a $4,100 loss for it. Image
1/ In this period:
$BTC briefly touched $20.8k, falling by 29% in a week
$ETH traded below $1.2k, down ~75% from ATH
The total crypto market cap dropped below $1T
The Crypto Fear & Greed index touched 8 points
Over 240,000 traders suffered from losses in $1.3B crypto liquidations Image
2/ $ETH lost its share of the total market cap due to several reasons. The troubles with its #DeFi space, or $stETH "depegging" & @CelsiusNetwork insolvency crisis, plus the delayed difficulty bomb caused the mess.

ETHBTC ratio slid from the high of 0.076 on May 11 to 0.0509. Image
3/ $LEO was the only top cryptocurrency to see green, partly thanks to the massive burns.

$CEL surged as Celsius returned 28.1M of $DAI to @MakerDAO to avoid $WBTC liquidation & supplied roughly 8,000 $ETH to @AaveAave to save its $stETH position.

Others include stablecoins. Image
4/ $CRV & $CVX were 98.6% and 93.4% down from their ATHs. Both DEXes saw massive drawdowns in TVL and decreasing trading volume.

$TRX was hit after $USDD #stablecoin lost its peg. Tron's TVL was plunging to April 2022 levels when it hadn't launched #USDD and a lending platform.
5/ $WAVES closed the week with a significant 42.9% loss.

$LTC recorded -29.6% in price following delistings from major Korean exchanges due to its privacy modifications for the coin (MWEB). @binance announced to end support for LTC transactions sent through the MWEB function. Image
6/ Despite the catastrophe, hedge funds and investment managers still believe in the market's rebound and $BTC's likeliness to hit $100k.

There is still huge leverage in the system, and we can expect more deleveraging if BTC goes lower. Image
7/ News:

Bank of America Survey: Consumers Aren’t Done With Crypto Yet: cutt.ly/CJ6Pmsq

@HuobiGlobal launches $1B investment arm focused on DeFi and Web3: cutt.ly/1J6PAjx

Goldman Sachs executes its first trade of Ether-linked derivative: cutt.ly/gJ6PZEW
8/ @CelsiusNetwork turmoil is part of a broader macro picture: cutt.ly/FJ6AwWa

#NFT floor prices are falling along with the broader crypto market: cutt.ly/7J6AieV

@opensea announces new security features to protect users from NFT scams: cutt.ly/YJ6AfWs
9/ The bear market can be coming, but we can't let it take us down. Our mental health & well-being are the most important.

It hurts to see the portfolio sinking, but remember that you have more things to take care of. Useful tips from @0xRusowsky👇

0xrusowsky.substack.com/p/how-to-menta…
10/ More market insights and infographics? Subscribe to our newsletter to explore: coin360.com

Follow us on #Twitter and #Telegram for the latest updates!

Telegram chat: t.me/COIN360com
Telegram announcement: t.me/COIN360Channel

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with COIN360

COIN360 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @COIN360com

COIN360 Profile picture
Jun 17
After a short rebound, the crypto market came back down on fears of a potential implosion as 3AC was facing serious insolvency risks. In #Coin360 Daily Digest👇

@Immutable @DecentralGames @decentraland @sknupsgg @dolcegabbana @LidoFinance @FTX_Official @BitvoCrypto @PolyNetwork2 Image
1/ $BTC was wandering around the $20k support level with the RSI falling to the deeply oversold stages.

This suggested a short-term relief rally, but if #BTC breaks support, a new round of liquidations will occur. Traders should beware of the sell-off as:
2/ $ETH faced a similar situation as it was entering the oversold level, but traders were afraid of a drop to $1k which could push the price lower.

Follow the market with our heatmap: coin360.com Image
Read 16 tweets
COIN360 Profile picture
Jun 17
Despite the clarification made, @Tether_to didn't seem to be able to retain its users as the No.1 #stablecoin market cap has fallen under $70B, reaching its lowest point since October 2021.

$USDT $USDC $BUSD $DAI $FRAX $TUSD Image
Data from @santimentfeed also suggested that big investors were staying away from $USDT since the addresses with $100k to $10M in $USDT had plunged by -50.5% of their coins, showing signs of holding less percentage of supply.

Meanwhile, @MakerDAO appeared to try to protect their slight recovery in $DAI by temporarily disabling the DAI Direct Deposit Module (D3M) for @AaveAave, which is believed to help them avoid the risk of not being able to retrieve all the $DAI that @CelsiusNetwork borrowed.
Read 7 tweets
COIN360 Profile picture
Jun 16
We had been seeing green for most of the day as more assets recorded a relief rally. In #Coin360 Daily Digest 👇

@TrueGlobalVCs @circlepay @animocabrands @TinyTapit @HuobiGlobal @HuobiTH @InverseFinance @ankr @optimismPBC @AcalaNetwork @pendulum_chain @amplitude_chain Image
1/ $BTC failed to cross $23k overnight and went back to its $21k level. As the rate hike seemed to be priced into the market, the market leader didn't make big moves.

@intotheblock data suggested a potential bottom as it spotted the largest #BTC inflow since Feb.
2/ $ETH spiked by 4%+ today, but traders warned of a possible bull trap amid @CelsiusNetwork and 3AC's risks.

$TRX was among the top gainers as @trondaoreserve announced to withdraw 3B #TRX to protect $USDD peg. Other winners were $EGLD $THETA $HNT $SOL with double-digit gains. Image
Read 16 tweets
COIN360 Profile picture
Jun 16
The second financial quarter of 2022 witnessed the first-ever drop in #stablecoin supply from the beginning of cryptoverse, according to @coinmetrics Head of R&D @LucasNuzzi.

This was caused by multiple factors, as... Image
Data from @cryptoquant_com pointed out that the total supply of stablecoin had a freefall on May 14, which might have been a result of whales' effort to exit the market following $USDT's depegging.

According to on-chain analytics platforms, 7B $USDT were wiped out. ImageImage
$DAI was hit hard by the collapse of @terra_money $UST and recorded a massive liquidation, marking its supply down by 34% from 9.2B at the beginning of Q2 to approximately 6B today. Image
Read 7 tweets
COIN360 Profile picture
Jun 15
We have entered very rough waters as $BTC got lower than $20,700. Today in #Coin360 Daily Digest 👇

@Tether_to @CelsiusNetwork @trondaoreserve @trondao @usddio @nftport_xyz @TAGHeuer @filecoingreen @FilFoundation @nansen_ai @chainlink @MoonbeamNetwork @ElrondNetwork Image
1/ $BTC marked an 8%+ drop in the past 24h and dropped to below $20,700 at the time of writing. With the price action, many analysts doubted #BTC's ability to sustain the low $20,000 zone for long.

$BTC number of addresses in loss (7d MA) reached an ATH: Image
2/ $ETH was bleeding to under $1.1k following $BTC's plunge. The percentage of @ethereum addresses in profit has dropped to the lowest level since April 2020, as per @intotheblock:
Read 17 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(