$100 Mln In Cryptocurrencies Liquidated - Market Falls.

$100 Mln In Cryptocurrencies Liquidated - Market Falls.

2022-01-31 | Eddy Morgan

$100 Mln In Cryptocurrencies Liquidated - Market Falls.

BTC, SHIB, ETH, LUNA, and SOL are among the major cryptocurrencies that have fallen in value.

According to CoinMarketCap statistics, the cryptocurrencies market was in a red county today. Solana (SOL), as well as Terra (LUNA), have lost over 8% in the last 24 hours, whilst Avalanche (AVAX) has lost about 10%. Shiba Inu (SHIB) and Dogecoin (DOGE), the two most popular meme currencies, fell by 5% and 4%, correspondingly. The "red sea" tsunami has also engulfed Bitcoin; after Fed Chairman Jerome Powell stated that the central bank may hike the key interest rate at its upcoming meeting in March, the flagship cryptocurrency fell below $35,535. Ethereum has fallen in price in tandem with Bitcoin.

Amongst the top ETH whales, SHIB reverses FTX by USD value

As per WhaleStats statistics, SHIB surpassed FTT, the indigenous token of the FTX exchange, in dollar value amongst the leading 1,000 ETH whales yesterday. SHIB's entire holding value in USD is a staggering $1,665,876,442. Even while FTX briefly surpassed SHIB, the currencies have now exchanged places, and the meme token is now the greatest asset by total USD value in the wallets of the leading ETH whales.

SHIB cryptocurrency may also brag of an increasing number of holders. The number of Shiba Inu owners has hit a new high of 1,160,123.

DOGE is currently accepted at MrBeast Burger

A further fast food restaurant has opted to join the cryptocurrencies mania, perhaps motivated by Elon Musk's latest tweet about taking Dogecoin directed to McDonald's. MrBeast Burger highlighted the centibillionaire in a Jan. 26 post, stating that if Musk retweets it, the firm would start working on taking DOGE. So yet, Tesla CEO Elon Musk has not responded to the offer. Nevertheless, Dogecoin founder Billy Markus retweeted MrBeast's statement and challenged the Doge Army to demonstrate that it is powerful enough to give MrBeast Burger the required engagement.

Bitcoin, as well as altcoins, have lost $100 million in value as a result of the Fed meeting

Following Bitcoin as well as altcoins took a knock as a result of the Fed meeting, the cryptocurrency community responded by liquidating roughly $100 million on several exchanges. Traders lost $37.46 million on Bitcoin liquidations, whilst

Ethereum liquidations cost $29.96 million. On Bybit, the greatest single liquidation order was estimated at $5.55 million.

Nevertheless, the Crypto Dread and Greed Index continues under "severe fear," with Bitcoin financing rates being negative throughout key exchanges.

According to renowned trader Peter Brandt, USD buying power will continue to erode

A figure given by Peter Brandt, a prominent senior commodities trader, shows how the purchasing power of one hundred US dollars has declined since 1947. The seasoned trader has nicknamed it a "quite certain deal," claiming that it is the only transaction in which he has complete trust. The buying power of the US dollar and other fiat currencies will remain to deteriorate over time. Twitter users started claiming that Bitcoin addresses this issue in the comment thread. Even to this day, when BTC is down about 50% from the previous year's historic high, it is still up 206 percent since November 2020.

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