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Jordan Lyanchev



Articles by Jordan Lyanchev

Binance BNB Burn Explained: How Much is Burnt and When?

3 days ago

Many projects introduce a deflationary mechanism in their tokenomics. For a large part, this is usually done through a so-called token burn. Binance is undoubtedly the most famous industry participant in removing chunks of its native cryptocurrency (Binance Coin – BNB), and the way they do it has changed throughout the five years of its existence.
So far, the exchange has burned billions of dollars worth of BNB, pursuing its goal of reducing the token’s total supply by 50%. In this article, we take a deep dive at how the process works, how many burns have been so far, when is the next one, and so forth.
What Is a Coin Burn?
The ‘burning’ of a coin is essentially a process of removing it from circulation by sending it to specifically designated addresses that can only

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Bitcoin Touched $25K for the First Time in 2-Months: Shiba Inu Soars 15% (Weekend Watch)

4 days ago

After a brief dip, bitcoin went on the offensive once more and tapped $25,000 for the first time since mid-June.
The altcoins are calmer today, but Shiba Inu has stolen the show with a massive double-digit surge.
Bitcoin Touched $25K
Whether it’s indeed on hype regarding the upcoming Merge, as JPM claimed, the crypto market has been on an uptrend in the past week or so, evident from BTC’s price movements.
The most impressive surge came on August 10 when the asset jumped from $23,000 to over $24,000 following the latest CPI data from the US.
It kept going and marked a multi-month high above $24,800 later that day. A brief retracement followed that pushed it down to $23,500, but the bulls came back to play rather immediately.

As a result, BTC neared $25,000 yesterday once

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ETH Soars Above $2,000 to Multi-Month High: Weekend Watch

5 days ago

Unlike the previous weekend, this one starts with impressive gains from BTC and most altcoins. Bitcoin, for one, jumped to just under $25,000.
With the hype surrounding the upcoming Merge, ETH soared to a multi-month high of its own, above $2,000.
ETH Spikes Above $2K
The Merge, a move that will see Ethereum transition from PoW to PoS, is arguably the most anticipated event of the year in the cryptocurrency space. The latest reports on the matter suggested that it could happen sooner than most people expected, and the hype surrounding it has had a massive impact on ETH’s price.
In the past 24 hours alone, it added over 6% of value and currently stands at $2,000 after surging to almost $2,050 earlier today. The latter became the asset’s highest price tag since late May.

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CoinFLEX Files Restructuring Case in Seychelles Court

8 days ago

Following the halt to all CoinFLEX withdrawals in June – and the subsequent partial restart in July – CoinFLEX has filed a motion to be restructured with the authorities in the Seychelles Islands.
In fact, the company’s headquarters are based in the islands.
Fallout Blamed on a Single Margin Call
The exchange’s troubles allegedly began due to longtime crypto investor Roger Ver failing to meet a margin call of $47 million. This was not the only reported issue with Ver – and CoinFLEX has since taken him to court in an attempt to recoup a total loss of $84 million.
What followed was a set of internal measures taken to cut operational costs by up to 60%. However, as bottom lines still came up short, the company has now been forced to take more drastic measures.
As reported by

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Just a Hunch? Analysts Point to an Uptick in Crypto Insider Trading

May 23, 2022

Difficult to prove, yet often suspected, insider trading has been a staple practice of dishonest investors ever since the stock markets took off. Over time, regulators like the SEC were founded in order to fight the phenomenon – despite it being an elusive one hard to pin on a perpetrator.
This is due to the nature of insider trading, which can be set off by nothing more than a seemingly off-hand comment about a company or other between acquaintances behind closed doors.
Although regulatory bodies have been largely successful at curbing this issue in the world of traditional finance, it seems to persist within the world of crypto, where legal precedent is scarce, and established entities are even scarcer.
Three Platforms, One Investigation
A report made by financial

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Negative Streak Continues: Bitcoin Registers 8 Consecutive Weekly Candle in Red

May 23, 2022

Despite reclaiming the $30,000 mark late last night, bitcoin still closed the weekly candle in the red. Thus, the cryptocurrency extended its negative streak to eight consecutive weeks.
8 in a Row in Red
A lot can change in the cryptocurrency space in two months, and it definitely did for bitcoin. The asset stood close to $50,000 at the end of March, and when the community expected a run towards that level, the landscape changed, BTC reversed its trajectory and headed for its longest-negative weekly streak.
CryptoPotato reported two weeks ago when bitcoin equaled the previous adverse record with six red candles in a row. Last week, it broke it after dumping by $15,000 at one point, and the situation worsened upon the weekly closure hours ago.
Bitstamp data, showcased by

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Binance Seeks to Strengthen its Legal Team

May 17, 2022

Amidst growing uncertainty caused by the bearish run across most cryptocurrencies over the past few weeks, Binance – the leading exchange in terms of volume – is looking to heavily shore up its defenses in case of any possible inquiries from regulatory bodies.
However, this could also be an indicator of the company planning to enhance efforts at securing an even bigger market share across EMEA and APJ markets. Binance is currently not facing any lawsuits and has recently been granted a seal of approval by authorities in France and elsewhere, indicating that its legal counsel onboarding efforts may simply be de rigueur.
Over 40 Positions Awaiting Applicants
Surprisingly, despite recent upheavals in Binance US’s leadership, the overwhelming majority of open positions are

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Polkadex Locks in Polkadot Parachain Slot by Allocating Nearly 1 Million DOT

May 15, 2022

Since the 21st of November 2021, the team at Polkadot has conducted regular DOT-based auctions for one of the coveted slots in their parachain network. There are plans for 100 parachain slots, give or take. Auctions for the first 41 have already been planned, with one happening roughly every ten days.
The 16th auction started on the 29th of April and ended on the 6th of May with a victory for Polkadex, an order book-based DEX with support for Polkadot, Ethereum, and the proprietary blockchain. This makes it the latest project to stake its growth for the foreseeable future on Polkadot, alongside projects like Acala or Moonriver.
16th Slot Goes To Polkadex
In the wake of their participation in the latest Polkadot Parachain Auction, the team at Polkadex announced securing one

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Bitcoin Stalls Below $30K, Polkadot Recovers Another 7% (Weekend Watch)

May 15, 2022

Bitcoin has calmed just under and around the $30,000 level after the recent massive volatility that brought the asset south by five digits. Most altcoins are also quite stagnant on a daily scale, with a few exceptions, such as Polkadot, Bitcoin Cash, and Monero.
Bitcoin Stands Still Below $30K
The past ten days were nothing short of a volatile rollercoaster for bitcoin and the rest of the market. The largest digital asset stood close to $40,000 before it plummeted by $4,000 in a day. It dumped further more in the next couple of days and found itself struggling to remain above $30,000 by May 11.
However, it seemed almost inevitable that it will break below that level, and it did on May 12. At that point, BTC slumped by nearly $5,000 to its lowest price position since

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Bitcoin Rejected at $30K, TRON and Polkadot Spike 4% (Weekend Watch)

May 14, 2022

After yesterday’s brief price surge to $31,000, bitcoin stalled and retraced back to below $30,000. Most altcoins are also slightly in the red today, except for TRON and Polkadot, both of which are up by around 4%.
Bitcoin Failed at $31K
No other word can explain what transpired last week better than “massacre.” Bitcoin stood close to $40,000 on May 5 before the bears took complete control over the market and pushed it south hard.
At first, BTC lost $4,000 in a day before the negative market sentiment brought it down to $33,000 and later to $30,000. However, May 12 turned out to be the most violent day during this crash as bitcoin dumped to $25,300 (on Bitstamp), which became its lowest price tag since late December 2020.
At that point, though, the bulls reminded of their

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Ethereum Whale Transactions Hit 4-Month High

May 13, 2022

Ethereum whales have registered a sharp uptick in activity in the past few days, making nearly 2,600 transactions worth over $1 million each yesterday alone. This is the highest number of such transaction activities in a day since January.

🐳 #Ethereum‘s whales have been extremely active today, firing off 2,596 transactions valued at $1M or more. This is the highest day of whale transactions since January, and something to monitor if $ETH drops below $2k for the first time since last July. https://t.co/FZoTsFJwEn pic.twitter.com/MVFEpzysxN
— Santiment (@santimentfeed) May 11, 2022

The company noted that this increase in activity came amid the market-wide retracement that sent shockwaves among the entire crypto space. Ethereum, for one, stood at $3,000 until May 5 before

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TFL Proposes Emergency Response to Counter Recent Collapse of Terra Ecosystem

May 12, 2022

Terra and its ecosystem have had a pretty rough ride the past few days. With UST losing its peg and LUNA in freefall, Terra is under pressure to quickly resolve the “bad debt” and restore community trust in itself.
TFL’s Proposed Solutions for Terra
According to a series of tweets shared by Terra’s official page, TFL has proposed burning the remainder of the UST stablecoin reserves. More specifically, the team would like to burn a total of 371 million UST stablecoins that were deployed on Ethereum as liquidity.
Just yesterday, Terra’s co-founder, Do Kwon, backed a similar proposition. The reasoning behind it was to burn UST, which effectively will mint more LUNA tokens, as CryptoPotato earlier explained.
In theory, UST’s parity to the dollar would be eventually restored

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Weekend Watch: LUNA Dumps 8%, Bitcoin Struggling at $36K

May 7, 2022

After yesterday’s massacre, bitcoin slipped slightly more and dropped to another multi-month low. Most altcoins are in a similar position, with Terra losing the most value on a daily scale. In contrast, TRON, Algorand, and Monero have charted impressive gains.
Bitcoin’s Latest Low
It’s safe to say that bitcoin has seen better days, which weren’t all that long ago. In fact, the cryptocurrency had spiked toward $40,000 earlier this week, after the latest FOMC meeting, in which the Fed said it will raise the interest rates by 50 basis points.
After failing at $40,000, BTC retraced slightly but remained close to that level in the next 24 hours. However, this is where the situation changed for the worse. In just a matter of hours, bitcoin dumped by more than $4,000 and

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Two Argentinian Banks to Reportedly Launch Crypto Trading Services

May 4, 2022

Two banks in Argentina will be allowing their clients to purchase cryptocurrencies via their official websites. The pair are Banco Galicia – the nation’s largest private bank in terms of market value, and Brubank – a fully digital bank.
The two entities have partnered with the crypto wallet Lirium for the new service, which will reportedly be available to clients on Monday. For Banco Galicia, the feature will first be available to customers whose salaries are directly deposited to the bank.
Banks in Argentina Embracing Crypto Trading
According to Bloomberg, Banco Galicia’s decision was fueled by high customer demand, especially from the younger generations. This was evident when 60% of the participants from one of its surveys said they would like to access crypto assets

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New York Luxury Gym Club to Accept Membership Payments in Crypto: Report

May 2, 2022

New York’s luxury fitness club Equinox will start accepting payments for gym services in cryptocurrency, according to local media reports.
This makes the gym the first in the Big Apple to endorse digital currencies in its business, an anonymous source said. To do so, the company will partner with BitPay, a popular crypto payment service, for the new infrastructure.
Equinox Customers Can Now Pay in Cryptocurrency
The development is in line with Equinox’s goal of meeting its members “where they are both physically and digitally,” the source added. Nevertheless, the decision is now pending an official announcement by Equinox.
Many walk-in businesses, including gyms, saw a major hit in sales following the pandemic-fueled economic downturn. Recuperation, though gradual, has

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BAYC’s Otherside: Nearly $200M Gas Burnt in Hours, ApeCoin Crashes 30%

May 1, 2022

The highly-anticipated virtual land sale related to Yuga Labs’ metaverse project went live hours ago and affected a large portion of the entire crypto market. The massive demand led to ETH fees worth nearly $200 million, while ApeCoin’s price slumped by double digits after the sale.
Ever since Yuga Labs, the creators of popular NFT projects such as Bored Ape Yacht Club, announced the metaverse project Otherside, the anticipation for the actual sale was soaring.
This led to a substantial price increase for BAYC’s native coin – ApeCoin – as the organization said it will be used to purchase virtual land. Somewhat expectedly, APE charted an all-time high just a few days before Yuga Labs’ sale went live.
Hours ago, the sale indeed went live and caused massive disruptions for

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Crypto Markets Shed $130B, Bitcoin Dumps to 2-Month Low (Market Watch)

May 1, 2022

Bitcoin continues to gradually lose value and dropped to a near two-month low of just over $37,000. The altcoins are also deep in the red, with notable price losses from Solana, Cardano, Terra, Polkadot, and many others.
Bitcoin Sees 2-Month Low
It’s safe to say that the primary cryptocurrency has seen better days. In fact, they weren’t all that long ago, as BTC neared $41,000 roughly a week ago but was rejected in its tracks.
The subsequent correction drove the asset south hard, and it lost about $3,000 in hours. However, it reacted well and went on the offensive once more. This time, it spiked above $40,000 again but, just like the previous example, failed to continue upwards.
Instead, bitcoin started losing ground again, fell below the coveted $40,000 line, and dropped

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Weekend Watch: BTC Below $40K, ApeCoin Soars 14% Ahead of Otherside Sale

April 30, 2022

Bitcoin failed again at overcoming $40,000 and has returned to even below $39,000. The majority of the altcoins are also in the red once more, but ApeCoin continues to defy the odds ahead of its highly-anticipated Otherside sale.
Bitcoin Struggles Below $40K
On April 25, bitcoin initiated an impressive leg up, adding nearly $3,000 in hours. Consequently, the asset spiked to almost $41,000 after its recent nosedives.
However, this price increase was short-lived as the bears pushed the cryptocurrency south again. Moreover, this decline was even more violent, and BTC found itself trading below $38,000 for the first time in over six weeks.
Bitcoin reacted well at this point and bounced off towards $40,000. It even briefly exceeded that level, but the overall bearish sentiment

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NFTs Are Technological Renaissance for Inspiration, Says Binance’s Helen Hai (Interview)

April 25, 2022

During Paris Blockchain Week, CryptoPotato had the chance to interview Helen Hai – the president of Bifinity, Head of Binance Charity Foundation, Head of NFT & Fan Token, and Goodwill Ambassador. Hai talked about how blockchain can revolutionize charity donations, NFTs can help artists in less fortunate states, and a lot more.
From London to Africa to Binance
During the Paris Blockchain Week Summit (PBW) that transpired earlier in April, Helen Hai revealed in a special interview with CryptoPotato her journey that started in China and led her to the crypto giant Binance.
It started with a move to London, a reputable degree and a job at a high-end company, and all that before she turned 30. After doing so, she moved to Africa “looking for a purpose,” set up a factory

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Bitcoin Struggles Below $40K as Sentiment Returns to Extreme Fear (Market Watch)

April 24, 2022

After dropping below $40,000 earlier this weekend, bitcoin has been unable to reclaim that level despite a few attempts. The rest of the market is also relatively calm today, with ETH sitting beneath $3,000.
Bitcoin Stalls Below $40K
After the Monday crash, bitcoin went on the offensive and added several thousand dollars in about a few days. As a result, it broke above the January 2021 all-time high of $42,000 and kept climbing.
This culminated in a price increase towards $43,000, which became a ten-day high. However, this is where the bears stepped up and didn’t allow any further price jumps. Just the opposite, BTC reversed its trajectory and started retracing.
In fact, the price drop was quite sudden, and the asset found itself trading below $40,000 hours later, as

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Bearish Weekend Watch: Bitcoin Dumps Below $40K, Ethereum Beneath $3K

April 23, 2022

The adverse price developments continued in the past 24 hours, and bitcoin dropped below $40,000 for the second time this week. The alternative coins are also well in the red, at least most of them, but ApeCoin has defied the market sentiment and soared by double-digits.
Bitcoin Lost $40K
It was just a few days ago when the primary cryptocurrency spiked to almost $43,000, which became its highest price level in over ten days. This was a particularly impressive price tag because earlier this week, the asset had fallen to a monthly low beneath $39,000.
However, BTC was violently rejected at its local peak and reversed its trajectory almost immediately. In a matter of hours, the asset found itself dropping to $40,000, where it stood for most of the day.
The landscape worsened

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Binance Recovered $5.8 Million From the Axie Inifity Hackers, Says CZ

April 22, 2022

Binance’s CEO reported earlier today that the company recovered nearly $6 million out of the $600 million stolen in the hack against the Ronin Network. These are among the first funds on the move since the exploit took place roughly a month ago.
CZ took it to Twitter on April 22 to inform that the hacker group behind the largest DeFi exploit started to move some of the stolen funds. As part of it was transferred to Binance and was spread among 86 accounts, the exchange blocked their access and recovered the funds.

The DPRK hacking group started to move their Axie Infinity stolen funds today. Part of it made to Binance, spread across over 86 accounts. $5.8M has been recovered. We done this many times for other projects in the past too. Stay #SAFU.
— CZ 🔶 Binance

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Bitcoin Google Searches Down to Lowest Levels Since 2020

April 20, 2022

In line with the lack of massive price movements from bitcoin, the number of Google searches for the asset have declined to the lowest levels since late 2020.
Separately, the popular Bitcoin Fear and Greed index has settled in a “fear” territory despite BTC’s two-day recovery after the sub-$40,000 dip.
Lack of Retail Interest
CryptoPotato reported yesterday the recent spike in whale activity towards the primary cryptocurrency. However, it seems that the demand from retail investors has declined in the past several months, at least according to data from Google Trends.
The number of queries on the world’s largest search engine typically shows the behavior of smaller investors, which tend to arrive at the scene amid the most substantial bull runs. This was the case back in

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BlockchainCom Negotiates IPO Terms With Banks to Go Public in 2022: Report

April 19, 2022

Another cryptocurrency company with aspirations to become a publicly-traded firm on Wall Street – BlockchainCom – has confirmed its initial plans that it aims to do so by the end of 2022.
Ever since Coinbase set up the trend in April last year, the number of crypto-related organizations indicating plans to go public has soared. Bakkt, eToro, Core Scientific, PrimeBlock, and even Circle are some of the examples.
BlockchainCom’s Chief Financial Officer – Macrina Kgil – announced similar plans for her company back in the summer of 2021.
Citing people familiar with the matter, a recent report by Bloomberg said the firm has already begun interviewing several banks on how to conduct an initial public offering (IPO) as early as this year.
The decade-old crypto company claimed in

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Ireland Bans Crypto Donations for Political Parties Fearing Russian Intervention (Report)

April 19, 2022

Citing fears of Russian intervention, Irish authorities have implemented new integrity rules that prohibit political donations sent in the form of cryptocurrencies. The nation has also incorporated stricter rules on all foreign campaign donations.
No Political Crypto Donations in Ireland
The near two-month-long war, still called a “special military operation” by the aggressor, continues to create different sorts of problems for many European nations. Aside from the lack of materials, skyrocketing prices, and, of course, many deaths, Russia’s actions led to numerous internal policy changes.
The latest example came from Ireland, where local authorities decided to ban the usage of cryptocurrencies for political donations for the upcoming elections. Government Minister Darragh

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Market Watch: Holidays Consolidation as BTC Stagnant at $40K, FIL Soars 11%

April 17, 2022

The cryptocurrency market continues to be untypically calm, with bitcoin failing to make a decisive move while still standing above $40,000. Most of the altcoin space is in a similar position, except for Filecoin, which soared by double digits.
Bitcoin Stands Still at $40K
It was just over ten days ago when the primary cryptocurrency failed at $47,000 and started its gradual descent. In a matter of days, the asset found itself dropping to $45,000 and $43,000.
Somewhat expectedly, BTC also lost the January 2021 ATH of $42,000 before the situation worsened on April 12. At that point, bitcoin dumped beneath the coveted $40,000 for the first time in about a month.
It reacted well to this decline and bounced off to around $42,000, but it was rejected there. As such, it fell to

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New Twitter Board Member Elon Musk Suggests Adding Dogecoin Payment Option

April 10, 2022

Elon Musk, the CEO of Tesla and SpaceX, purchased a 9.2% stake in Twitter, which became known recently, and was appointed to the board of directors shortly after. Now, the billionaire made several propositions to the social media giant’s paid subscription plan, one of which sees the implementation of Dogecoin payments.
As reported by CryptoPotato earlier this month, Musk filed documents with the Securities and Exchange Commission showing that he purchased over 70 million Twitter shares, making him one of the two largest TWTR stockholders.
Days later, news broke that the billionaire became a board member and suggested “significant improvements” for the platform. Twitter CEO Parag Agrawal welcomed the move, saying Musk will bring “great value” to the board.
It didn’t take

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Weekend Watch: Bitcoin Maintains $42K, Monero at 3-Month High After 8% Spike

April 10, 2022

After falling to its January 2021 all-time high of around $42,000, bitcoin has maintained that level following a relatively still trading day. The altcoins are also untypically calm today, with Monero being among the few exceptions and XMR tapping a three-month high.
Bitcoin Remains Above $42K
It’s safe to say that the primary cryptocurrency has seen better days as it attempted to jump above $47,000 earlier this week. However, it failed on both occasions when the bears returned to the scene and pushed the asset south.
As reported over the week, BTC first dropped to $45,000 before another nosedive took it down to $43,000. After bouncing off and adding a grand, bitcoin started plummeting again yesterday and fell to a 17-day low of just over $42,000.
Since then, the

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Bank of America: Crypto Can Outperform Stocks Amid Potential Fed-Propelled Recession

April 9, 2022

Bitcoin and other cryptocurrencies could outperform bonds and stocks amid a potential recession, noted Michael Hartnett, BofA’s chief investment strategist. In a recent note, he argued that the US Federal Reserve’s new policy could push the country and most of the world into such an economic state.
Crypto to Blossom Amid Upcoming Recession?
After years of trying to fight the consequences of the COVID-19 pandemic through enhanced expansion of its balance sheet, which is now around $9 trillion, the US central bank changed its tune at the start of 2022. Meaning that after more than doubling its balance sheet since March 2020, the Fed decided to start reducing it, with some reports suggesting that it could soon shed up to $95 billion worth of assets per month.
Citing a note

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Crypto Market Cap Drops Below $2T as Bitcoin Slides to 17-Day Low (Weekend Watch)

April 9, 2022

Bitcoin’s recent nosedives continued in the past 24 hours, and the asset slipped to a 17-day low of around $42,000. Most altcoins are also deep in the red, with the most losses coming from Terra, Solana, Avalanche, Cardano, and Dogecoin from the larger-cap ones.
Bitcoin Tested $42K
It was just several days ago when bitcoin was fighting to reclaim $47,000 and spiked above that level twice within a 48-hour period. However, the bears came out from hiding and didn’t allow any further increases.
Both attempts were rejected rather rapidly, but the second one was met with a more violent correction. At first, BTC dumped to $45,000 before it went even further and slipped to $43,000, as reported yesterday.
It bounced off from that line and spiked to $44,000, but that turned out to

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