CryptoSlate Wrapped Daily: BTC short liquidations reach $9M, Ava Labs CEO deems CryptoLeaks’ allegations ‘conspiracy theory’

2 years ago

The biggest quality successful the cryptoverse for Aug. 29 includes the liquidation of $9 cardinal successful Bitcoin shorts, a study showing that the bulk of GameFi investors are funny successful nett alternatively than gameplay and Ava Labs’ CEO denying CryptoLeaks’ allegations that it had a woody with instrumentality steadfast Roche Freedman to usage “litigation arsenic a tool” to disrupt competitors and misdirect regulators.

CryptoSlate Top Stories

Bitcoin shorts liquidated a full of $9 cardinal arsenic BTC moves backmost supra $20,000

Powell’s Jackson Hole speech connected Aug. 26 forced the crypto marketplace to bottommost astatine $19,500 successful the aboriginal hours of Aug. 29. But arsenic of 14:00 UTC, BTC had spiked arsenic precocious arsenic $20,300.

The abrupt spike was a effect of the Bitcoin bulls warring to regain intelligence absorption astatine the $20,000 level. As a result, $9 cardinal successful Bitcoin shorts were liquidated, according to Coinglass data.

Singapore considers stricter crypto regulations to support retail traders

The Monetary Authority of Singapore (MAS) managing manager Ravi Menon said that the authorization volition present caller measures to bounds the usage of leverage and recognition facilities by retail investors who are easy lured for speedy gains.

He noted that the borderless quality of the crypto manufacture makes it improbable to spot an outright prohibition connected its usage successful the region. However, the MAS is presently moving connected measures to modulate stablecoins and would uncover the broad line by October.

Limit Break’s DigiDaigaku NFT postulation rises by implicit 100% arsenic the steadfast raises $200m

Web3 gaming startup Limit Break announced that its genitor institution raised $200 cardinal to pioneer its”free-to-own” gaming exemplary which volition spot the marque springiness distant its NFTs for free.

Reacting to the announcement, the terms level of its escaped mint NFT DigiDaigaku roseate to 15.67 ETH. According to nftgo data, the 24-hour trading measurement of the postulation accrued by implicit 400% signaling astir $4 cardinal successful sales.

Chainplay study reveals 3 successful 4 investors articulation crypto due to the fact that of GameFi

Chainplay released its authorities of GameFi study showing that 3 successful 4 GameFi investors are successful for speedy profit. Out of 2428 investors who participated successful the survey, 51% affirmed that they were successful for profit, portion lone 18% were funny successful the gameplay.

The participants reported that they had mislaid implicit 50% of their net successful the past six months portion trying to nett from the GameFi sector. The cardinal drivers of their losses were mediocre crippled system plan and declining marketplace conditions.

Research Highlight

Bitcoin speech outflows apical $1B daily, portion Ethereum sees nett inflows

CryptoSlate analyzed the speech flows of Bitcoin and Ethereum to uncover a contrasting enactment betwixt the assets.

Investors person shown much bullish sentiments toward BTC arsenic an mean of $1 cardinal flows retired from exchanges daily.

Bitcoin Exhange Net Position Change

Conversely, Ethereum has experienced insignificant outflows arsenic speculative investors clasp their assets connected exchanges to marque it easier to merchantability pursuing the result of the Merge.

Data shows Bitcoin whales are massively selling holdings

Bitcoin accumulation inclination people betwixt April 2020 and August 2022 has approached zero, indicating that BTC whales are selling their holdings, according to Glassnode information analyzed by CryptoSlate.

Glassnode)

On the different end, shrimp’s Bitcoin accumulation information shows that though small-sized BTC holders person slowed down their purchase, they inactive accumulate much than the whales who person stopped accumulating outright.

News from astir the CryptoVerse

U.S. Fed acceptable to motorboat its outgo strategy successful 2023

FedNow, a outgo strategy that the U.S Federal Reserve has been moving connected for implicit 7 years, volition reportedly motorboat successful 2023, The Wall Street Journal reported.

The outgo strategy volition modernize the older rails powering the Federal Reserve and volition supply near-instant payments globally. It volition besides assistance little costs and amended the ratio of the U.S. fiscal system.

Ava Labs CEO deems CryptoLeaks’ study ‘conspiracy mentation nonsense”

CryptoLeaks precocious published a bid of videos alleging that Ava Labs had a woody with instrumentality steadfast Roche Freedom to get ineligible services successful speech for providing AVAX tokens and Ava Labs equity. The videos besides alleged that the instrumentality steadfast successful concern with Ava Labs would usage “litigation arsenic a tool” to disrupt competitors and misdirect regulators.

Reacting to the allegations, Ava Labs CEO Emin Gun Sirer tweeted that the study was “conspiracy mentation nonsense”. He stated that AVA Labs would ne'er prosecute successful immoderate unlawful and unethical behaviour arsenic purported successful the video.

Crypto Markets

Bitcoin was up 1.19% connected the day, trading astatine $20,215, portion Ethereum was trading astatine $1,544, reflecting an summation of implicit 4.54%.