Tag: trading

Solana’s native cryptocurrency SOL has been on a continuous upward trajectory over the past three days, rising from approximately $180 to surpass $210. However, a subsequent pullback occurred, causing the price to dip below the $200 mark. As of the time of writing, the SOL coin price has settled at $197. The question arises: Can SOL coin attain a new all-time high from this point onward?

As Bitcoin continues its rollercoaster ride, traders are nervously eyeing a phenomenon known as the “futures gap,” which has historically led to significant price movements in the cryptocurrency market. With prices hovering near critical levels, investors are bracing for potential volatility ahead.

Bitcoin is trading around its all-time highs as we reach the final week of March. The drop from the all-time high of $74,000 reached 17% at one point, which, although still moderated by bull market correction norms, has alarmed many. When paired with the growth in mining difficulties, the traditional characteristics of a bullish trend become obvious. Beyond Bitcoin, several traditional macroeconomic factors might result in a more turbulent phase for risky assets.

Arbitrum (ARB), a Layer 2 token, plummeted 14% immediately after more than a billion tokens were released onto the market. According to the website 21milyon.com, ARB traded at $1.9 on March 16. However, prices began to fall sharply following the projected conclusion of the token supply release.

In the cryptocurrency market, a clever investor dumped 1.5 trillion Shiba Inu (SHIB) and Floki Inu (FLOKI) tokens onto a cryptocurrency exchange. The investor’s trades, which generated around $70 million in profit, were particularly noteworthy because they came amid a period of significant price decreases for the aforementioned memecoins.

In the past week, XRP’s value increased by 19.9% versus the US dollar, reaching a high of $0.744 per coin on March 11, 2024. Its price has subsequently fallen somewhat, currently trading at $0.685 per XRP. Although the digital currency’s market results have not received the same level of attention as Bitcoin and Ethereum, supporters of XRP, the sixth-largest cryptocurrency by market value, believe it is primed for an upsurge.

Following Bitcoin’s surge past the all-time high of US$70,330, Binance’s future data reveals a swift downturn, with the cryptocurrency plummeting to US$67,600. The sudden drop triggered a significant wave of liquidations across the network, totaling nearly US$100 million within just one hour.

Recent data from Binance highlights significant fluctuations in Bitcoin’s price over the past few hours. After briefly plummeting to $59,005, Bitcoin has since rebounded to $63,675. The heightened volatility has led to substantial liquidations across the network, totaling $1.183 billion in the last 24 hours. Long positions accounted for $892 million of liquidations, while short positions amounted to $291 million. Notably, a staggering 319,000 individuals were liquidated during this period. Moreover, the BitVol (Bitcoin Volatility) Index surged to 78.81, nearing its one-year high of 79.92 recorded on March 4.

The price of Bitcoin (BTC) dropped from its peak of $69,200 on March 5th, leaving traders who had invested in the cryptocurrency through options and futures contracts with a startling $1 billion loss. This decline in the biggest cryptocurrency also affected altcoins and caused several market changes.

Binance adds Ronin (RONIN) to its trading platform, opening spot trading for RONIN/BTC, RONIN/USDT, RONIN/FDUSD, and RONIN/TRY pairs. This move further connects users to the Web3 gaming blockchain, but comes with a reminder of RONIN’s relative novelty and potential risks.