The cryptocurrency market continues to experience various developments over the weekend as well. In the list below, you can see various events such as stock market listings/delists, network updates for 7 altcoins over the weekend. Here are the details…
This weekend, there will be significant developments in 7 altcoin projects
- Offshift (XFT) will start its frontend pilot process this weekend.
- Emp Money (EMP) announced that a major ROI contract will hit the market this week.
- Liquid is delisting the Cosplay Token (COT).
- KuCoin lists Dogechain (DC) with USDT pair at 13 CET today.
- Biconomy lists Prom (PROM) with USDT pair.
- EOS (EOS) announced that the yield farming and TVL awards will begin tomorrow.
- Ark (ARK) is listed by XINVESTOR in USDT pair at 15:00 CET tomorrow.
FED Chairman’s speech negatively affected the markets
Meanwhile, the cryptocurrency market continues to take a hit in terms of price. As we have reported as Kriptokoin.com, Bitcoin lost value after the speeches of the FED President. As the crypto market turns red once again, the total value of liquidated positions is rising again. Bitcoin has intensified recent price drops, dropping just below $20,000 for the first time in nearly six weeks. Altcoins are also taking losses, leading to around $400 million liquidation from overly leveraged traders.
BTC has been exhibiting stable price movements for a while. After dropping $4,000 last week, BTC spent most of its time around $21,000. He challenged $22,000 a few days ago but to no avail. It had calmed down yesterday at $21,500. However, Fed Chairman Jerome Powell made another speech. He then repeated the central bank’s previous stance on how to fight inflation. However, the crypto markets reacted with sudden price drops. First off, Bitcoin dropped $1,000 within hours. However, it continued to decline afterwards. Therefore, it fell below $20,000 for the first time since mid-July.
Altocins are no better off either. Some coins, such as ETH, SHIB, and AVAX, are in double-digit declines. Ethereum slumped below $1,500 after climbing above $1,700 two days ago. With pullbacks more violent than most altcoins, the overall crypto market cap has dropped well below the desired $1 trillion level. This increased volatility hurt over-leveraged traders. Data from CoinGlass shows that the total liquidation value over the past 24 hours has risen to almost $400 million. More than 125,000 traders have been ruined so far. The largest liquidation position at $3.5 million was made with the BTC/USDT trading pair on OKX.
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