Exchange data from Bybt shows that roughly $46 million worth of long ETH positions were liquidated across the board due to the sudden pullback. Since the flash crash, ETH has also failed to hold above $4,000.
Buy-back: Another feature that attracts customers the most is its robust price stability, provided by its efficient multiple buyback feature. By taxing 3% on every traction to support the buyback feature, EverGrow sends these tokens to a particular wallet, known as a 'buyback wallet.' These tokens are immediately removed from the circulating supply boosting the price and producing green candles on the price chart.
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On the contrary, if the price rebounds off the breakout level, it will suggest that bulls are buying on dips. The pair could then rally to the overhead resistance at $2.47. This is an important resistance for the bears to defend because if it cracks, the pair could rise to $2.80.
Competing and bracing in the tough markets, SafeMoon is a cryptocurrency that refuses to bow down to central government pressures or be chained in defective and regulatory monetary shackles. SafeMoon has made it possible for everyone to store and transfer value in a currency that is resistant to manipulation.
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El Salvador's move to adopt Bitcoin is the first time Bitcoin has been adopted as a legal tender in a sovereign nation.
Crypto coins use the process of mining and the resulting blockchain as a physical measure of the currency. This is similar to how Reserve Banks used to have gold reserves that backed their fiat currencies.
US futures linger at all-time highs while cryptos hit new records, as Fed rings alarm on market risks
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But while it’s based on sound, democratic principles, cryptocurrency remains a technological and practical work in progress. For the foreseeable future, nation-states’ near-monopoly on currency production and monetary policy appears secure.
But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
New short-term investors who are selling their holdings in reaction to the drop may be influencing the continued dip in Bitcoin’s value, according to a recent report from Glassnode Insights, a blockchain analysis firm.
It was a rough year for bitcoin–and cryptocurrencies in general. Here’s a look at how we got here.
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