$3.7 billion liquidated as crypto markets react to Biden’s tax scareThe global crypto market cap is $1.84 trillion with a 24-hour volume of $296.3 billion. The price of Bitcoin is $49,887.97 and the BTC dominance is at 50.7%.
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by Shaurya Malwa Over $3 billion worth of crypto positions were liquidated this morning amidst a broader sell-off, data from multiple sources showed. Some market watchers attributed the drop to a proposal made by US president Joe Biden yesterday. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. More news ⏬Reef Finance announces new Substrate blockchain to launch in early MayAs Ethereum’s gas fees skyrocket and the Binance Smart Chain sees performance issues, Reef Finance is stepping into the fray with its new Reef Chain. India may give crypto holders an “exit window” in case of Bitcoin banIndia’s officials are currently discussing the possibility of providing an “exit window” that would allow crypto holders to get rid of their assets ahead of the potential ban on all “private” digital currencies, The Indian Express reported today. Crypto artists are now using Ethereum NFTs to fight climate changeCalifornian startup Hitch is collaborating with South African artist Daniella Attfield to create a unique non-fungible token (NFT) art piece that benefits the climate, it said in a release shared with CryptoSlate. Investor who predicted a $400,000 Bitcoin is now calling for a 50% dropScott Minerd, the Chief Investment Officer of famed investment firm Guggenheim Partners’, says Bitcoin (BTC) could see a 50% drop in the near term as it’s run ‘too far, too fast.’ He made the comments in an appearance on CNBC show Worldwide Exchange yesterday. On-chain data shows ‘whales’ are accumulating Bitcoin despite fearful marketsBitcoin (BTC) recently went through one of the steepest corrections seen since the beginning of the year. After rising to a new all-time high of nearly $65,000 on April 14, the world’s largest cryptocurrency by market cap took a 7.50% nosedive. Square says Bitcoin mining is “key to clean energy future”Bitcoin mining farms and renewable energy facilities can greatly help each other to create an “abundant, clean energy future,” according to a joint research report published by payments company Square and asset manager Ark Invest yesterday. Korean minister says all 200 crypto exchanges in the country face a risk of closing downEun Seong-soo, chairman of the Finance Committee in South Korea, said this morning that over 200 cryptocurrency exchanges at the risk of being closed down in September this year if they fail to follow the relevant regulations, as per a report on leading local outlet Chosun. Regulated Bitcoin and Ethereum funds have launched in Hong KongHong Kong-based Huobi Asset Management announced the launch of Bitcoin (BTC), Ethereum (ETH), and mining-related funds for professional investors yesterday, it said in a release shared with CryptoSlate. Decentr and Public Mint are partnering up to develop Web 3.0 and DeFi toolsEver closer to mainstream adoption, new partnerships between key industry players are helping to step up the real-world usability of crypto products. OG Bitcoiner disses ‘legal tender’ and shares why NFTs are never going away
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