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Mr Rocket also cited some concerns over whether there is a "strong liquidity pool" or not.
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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.
The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order-book events.
Additionally, cryptocurrencies are frequently used to facilitate gray and black market transactions, so many countries view them with distrust or outright animosity.
NFTs "could be as big or bigger" than cryptocurrency trading on the platform, said Coinbase CEO Brian Armstrong.
Artwork is being "tokenised" and sold online for millions - but will the bubble burst?
Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
As transactions increase, the service charge will be gradually decreased up to by 10%, thus bridging the gap between early and late investors. 4JNET’s early investors need to pay high service charges even if they buy at an earlier time, which are automatically put into the liquidity pool to promote steady price increase and alleviate price instability that results from the selling pressure.
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I swear, these cozy mop slippers make cleaning fun — and they’re just $17 for five at Amazon
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It appears the coin became widely recognised on Twitter and many of its posts have thousands of likes by cryptocurrency watchers.
Profit-booking near the resistance line pulled the price back toward the critical level at $49.54 on Nov. 9. The strong rebound off this level on Nov. 10 suggests that bulls are defending this level with vigor.
To avoid legal action, the creators dropped “West” from the name, changed the logo to a “half man, half fish hybrid” that resembles West — a biting reference to a “South Park” episode that pokes fun at West’s massive ego — and released Coinye as planned.