BusinessCryptocurrencyBitcoin Crashed 87% On Binance's U.S. Exchange Due To Algo Bug Another day, another major snafu in cryptocurrency trading. The price of Bitcoin rapidly plunged about 87% on Binance's U.S. exchange Thursday morning.
Mainstream companies across industries have taken interest — and in some cases themselves invested in — cryptocurrency and blockchain in 2021. AMC, for example, recently announced it will be able to accept Bitcoin payments by the end of this year. Fintech companies like PayPal and Square are also betting on crypto by allowing users to buy on their platforms. Tesla continues to go back and forth on its acceptance of Bitcoin payments, though the company holds billions in crypto assets. Experts predict more and more of this buy-in.
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Of course, in order to diversify, a customer needs to be able to trade a wide variety of altcoins. When it comes to cryptocurrency listings, Binance is the undisputed king. But how does Binance.US measure up?
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DeFi and NFT expert Rio Rocket told The Sun that he is hearing "rumblings" from investors noting that they are "unable to take large-scale profits."
In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
A cryptocurrency monetary policy is enforced through a unique blend of software, cryptography and financial incentives rather than the whim of trusted third parties such as central banks, corporations or governments. Cryptocurrencies are powered by cryptographically secure, verifiable transaction databases called blockchains, which provide their security and transparency.
Top cryptocurrency prices today: Bitcoin, Dogecoin, Cardano rally 5% eachTop cryptocurrency prices today: Cardano, Polkadot, Binance Coin shed 4%Top cryptocurrency prices today: Solana, Cardano, XRP shed up to 12%Top cryptocurrency prices today: Bitcoin, Cardano down; Solana soars 22%Top cryptocurrency prices today: Cardano, Ethereum, Dogecoin gain up to 10%
Bitcoin is a good indicator of the crypto market in general, because it’s the largest cryptocurrency by market cap and the rest of the market tends to follow its trends.
The worldwide crypto market capitalization is currently $2.90 trillion, decreasing 1.25% over the last day. (Shutterstock)
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This positive view will invalidate if the price turns down from the current level or the overhead resistance and plummets below the support line of the wedge.
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