What Happened: According to Binance U.S. market data, the Bitcoin to the U.S. dollar trading pair on Binance U.S. flash crashed within a minute from $65,815 to $8,200. This translates to a drop of 87% for the world's top cryptocurrency on the exchange according to cited market data.
Bitcoin price hits new record high - why is Bitcoin up today? Cryptocurrency prices of Bitcoin, ETH and Shiba Inu (Image credit: Getty Images/Canva Pro)
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Cryptocurrencies do not exist as a stack of notes or coins. Instead, they live only on the internet. Consider them virtual tokens, the value of which is decided by market forces created by those seeking to purchase or sell them.
The exchange is cutting off Chinese users and will lose a third of revenues from next year, co-founder tells FT News
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It is a meme coin in the same sense as Shiba Inu, but has failed to live up to its promises. SafeMoon is the perfect example of why having a product first is what matters. Investors bought into the token thanks to its promises, and now the token is plummeting. It is a story warning investors of falling for grandiosity.
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When Bitcoin’s price exploded in late 2017, so did the interest of the general public in cryptocurrencies. Internet searches for Bitcoin, cryptocurrencies, and crypto prices skyrocketed. Many people weren’t able to resist the fear of missing out on the massive gains the early adopters were experiencing as crypto prices rose quickly. When the inevitable correction came and crypto prices fell, those who bought towards the end of the bull run immediately saw the value of their holdings halved. Despair and anguish followed, but the enthusiasm of the crypto community hasn’t faltered.
Coinbase's NFT platform should be like Instagram and may eventually overtake cryptocurrency trading, CEO says
Crypto companies such as miners Marathon Digital Holdings Inc. and Riot Blockchain Inc. each rallied more than 10% Monday. Coinbase Global Inc., the largest U.S. exchange, gained as much as 3.6%, a day before reporting third-quarter results.
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Amazon shoppers are living in these on-sale joggers: 'OMG these are the most comfortable pants I've ever owned!'
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These protocols also mask the identities of cryptocurrency users, making transactions and fund flows difficult to attribute to specific individuals or groups.
An OpenSea employee used insider knowledge to buy tokens before they appeared on the front page. Alexis Ohanian showed off the NFT he bought for Serena Williams at the Met Gala
For many people, crypto is a type of alternative investment. Just as you can buy and trade stock in public companies, you can buy cryptocurrency with the hope that it will increase in value over time, allowing you to cash out for a profit at a later date. Some people invest in crypto less for the belief that it will become a popular currency and more as a bet on the blockchain technology behind it.
Although Coinye’s peer-to-peer network remains active and it’s still technically possible to mine the currency, person-to-person transfers and mining activity have collapsed to the point that Coinye is basically worthless.