How did Margin Calls affect the market in recent weeks? 👀
#Ethereum lost over 53% of its value, seeing $219 Million in long liquidations that same day, and collapsed from $1440 to $1200.🔻
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For #Ethereum, failure to defend the $900 and $700 price points could result in major liquidations across popular #DeFi lending protocols.
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Dive into #CoinMarketCap's research on Liquidation Cascades in Bear Markets, with an analysis of how margin calls and liquidations have affected major players in the recent weeks. 👇
In the last half a decade, dozens of countries have announced plans to launch a #CBDC of their own.
Indeed, according to @AtlanticCouncil, a staggering 105 countries are now exploring CBDCs, including 19 countries in the G20.
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Out of the G7 economies, the UK and the US are the furthest behind in terms of CBDC development, whereas a total of 10 countries worldwide have already launched their CBDC (including the Bahamas, Jamaica, Nigeria, and several countries in the Caribbean.)
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With the potential to improve financial inclusion, reduce counterfeiting, cut down cross-border transaction fees and times, and improve transparency in the money supply, CBDCs could demonstrate the viability of blockchain technology for major financial use cases.
On June 13, the #crypto market suffered over $1 Billion in liquidations over 24 hours.
In the month of June so far, #Bitcoin suffered a drawdown of over 43% 🔻
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According to data from Coinglass, a staggering $343 million in $BTC longs were liquidated across the top 8 derivatives exchanges on June 13 — sending $BTC tumbling from $27k to under $23k in a day.
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#Bitcoin has a large number of liquidation points clustered between $7,500 and $12,500.
Still the most active EVM-compatible chain by number of daily transactions, @BNBCHAIN has seen its average transaction fee shrink over the last year — falling from $0.36 to $0.3.
This makes it the second-most expensive EVM chain by average tx fee, behind Avalanche.
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It is still the most popular by on-chain activity, processing more transactions each day than Avalanche, Fantom, and Polygon combined, at over 5M transactions per day.