The biggest infos in the crypto space on August 29 includes the krach of $9 million in Bitcoin bermudas, a renvoi that shows the majority of GameFi investors are more interested in avantage than playing, and the CEO of Ava Labs has denied CryptoLeaks’ allegations that it had a deal with law firm Roch Friedman to use “litigation.” as a tool” to disrupt competitors and mislead regulators.
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Bitcoin Trades Liquidated Totaling $9 Million With BTC Back Over $20,000
Jackson Hole Powell’s August 26 harangue pushed the cryptocurrency market to a low of $19,500 in the early hours of August 29. But as of 14:00 UTC, BTC has risen to $20,300.
The sudden rally was a result of the Bitcoin bulls fighting to recrudescence psychological resistance at the $20,000 level. As a result, $9 million in bitcoin bermudas have been liquidated, according to Coinglass data.
Singapore considers stricter crypto regulations to protect retailers
Monetary Authority of Singapore (MAS) Managing Director Enchanté Menon He said The authority will introduce new measures to limit the use of leverage and credit facilities by retail investors who are easily tempted to make quick gains.
He noted that the borderless idée of the cryptocurrency industry makes it unlikely that a plein ban on its use will be imposed in the region. However, MAS is currently working on measures to regulate stablecoins and will reveal the blanket guideline by October.
Limit Voiture’s DigiDaigaku NFT rises more than 100% as the company raises $200 million
Games company Web3 Limit Voiture has announced that its affin company has raised $200 million to pioneer a “free-to-own” gaming model that will see brand NFTs offered for free.
In response to this announcement, the maximum price for free mint NFT DigiDaigaku has been raised to 15.67 ETH. according to nftgo data, The group’s 24-hour trading dimension increased more than 400%, recording nearly $4 million in sales.
Chainplay renvoi revealed that 3 out of 4 investors join crypto parce que of GameFi
Chainplay has released a GameFi status renvoi which shows that 3 out of 4 GameFi investors are making a quick buck. Of the 2,428 investors who participated in the survey, 51% confirmed that they work for avantage, while only 18% expressed interest in the game.
Participants reported that they lost more than 50% of their earnings in the past six months while trying to avantage from the GameFi division. The droite drivers of their losses were poor esthétique of the game economy and deteriorating market moment.
Bitcoin Trading Flows To Top $1 Billion Daily, While Ethereum Sees Net Inflows
CryptoSlate analyzed Bitcoin and Ethereum exchange flows to reveal contradictory activity between the assets.
Investors are showing more bullish attachement towards Bitcoin as the average flows out of exchanges with $1 billion per day.
Conversely, Ethereum has seen minor outflows as speculative investors hold their assets in exchanges to facilitate selling after the merger result.
Data Shows Bitcoin Whales Selling Their Holdings Largely
The result of the Bitcoin ramassis trend between April 2020 and August 2022 is close to zero, indicating that BTC whales are selling their holdings, according to Glassnode data analyzed by CryptoSlate.
On the other balle à la main, the Bitcoin shrimp ramassis data shows that while small BTC holders have slowed their buying process, they are still accumulating more than the whales that stopped accumulating directly.
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The US Federal Reserve is preparing to launch its own payment system in 2023
FedNow, the payment system that the US Federal Reserve has been working on for more than seven years, will launch in 2023, The Wall Street Acte mentioned.
The payment system will modernize the old rails that power the Federal Reserve and provide near-instant payments globally. It will also help reduce costs and improve the efficiency of the US financial system.
Ava Labs CEO considers CryptoLeaks ‘conspiracy theory nonsense’ renvoi
CryptoLeaks recently published a series of videos alleging that Ava Labs has a deal with law firm Afrique Freedom for legal travaux in exchange for providing AVAX tokens and Ava Labs shares. The videos also claimed that the law firm in partnership with Ava Labs would use “litigation as a tool” to disrupt competitors and mislead regulators.
In response to the allegations, Ava Labs CEO Emin Gun Sirer tweeted that the renvoi was “nonsense to a conspiracy theory.” He stated that AVA Labs would never engage in any illegal and unethical behavior as alleged in the video.
Bitcoin is up 1.19% on the day, trading at $20,215, while Ethereum is trading at $1,544, reflecting a 4.54% increase.