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Coindoo
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Bitcoin Longs Wiped Out on Binance: Is Overleveraging Catching Up with Traders?
- Binance recently recorded its largest single-day Bitcoin long liquidation in over five years.
- Over $211 million in long positions were liquidated in USD terms due to a rapid intraday price correction.
- The liquidation was triggered by a sharp drop in Bitcoin's price, resulting in the closure of overleveraged long positions.
- Following a rise to over $110,000, Bitcoin's price quickly fell back towards the $104K range.
- Santiment's chart shows long liquidation volume exceeding $200 million during the drawdown.
- This event highlights an imbalance between market expectations and actual price movement.
- Traders relying too heavily on leverage are vulnerable in volatile environments.
- Such liquidation events expose market fragility and can lead to rapid deleveraging, causing deeper corrections and affecting investor confidence.
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Coindoo
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Bitcoin Sell-Off Deepens Amid Geopolitical Shock — Is the Bottom In?
- Bitcoin is experiencing a sell-off due to geopolitical tensions between Israel and Iran, leading to fear-driven capitulation in the crypto markets.
- CryptoQuant's analysis shows that sellers are dominating order flow, with a sharp drop in BTC's Net Taker Volume indicating sustained downside momentum.
- Market reaction to the Israel-Iran conflict has caused fear-driven liquidations, leverage unwinding, and risk aversion in the crypto space.
- The sell-off coincides with an Israeli military strike on Iran, affecting global risk assets like equities and cryptocurrencies.
- There are indications that this wave of panic selling might signal a local bottom formation in the market.
- Factors supporting the potential bottom include capitulation by weak hands, potential whale accumulation, and contrarian indicators suggesting entry points for rebounds.
- The current -$197 million taker volume reflects extreme bearish sentiment, and historical data suggests aggressive sell-offs often mark turning points.
- While risks remain high, conditions may be aligning for a short-term recovery, raising the question of whether the bottom is in.
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Zycrypto
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The impact of liquidity aggregators on reducing transaction costs in DeFi
- Liquidity aggregators are revolutionizing cross-chain transactions in DeFi by simplifying and reducing costs associated with moving assets between different blockchains.
- Traditional cross-chain transactions were expensive, complex, and risky, deterring many users from exploring different blockchains.
- Liquidity aggregators like Jumper Exchange scan multiple routes to find the cheapest and fastest way to transfer assets across blockchain networks.
- These aggregators utilize smart order routing, real-time gas price monitoring, integration with various bridges and liquidity pools, and predictive algorithms to optimize transactions.
- Users are saving 25-45% on transactions like moving MATIC from Polygon to Solana compared to traditional methods.
- Developers benefit as well, attracting users from different chains while avoiding high gas fees.
- The technology facilitates cross-pollination between blockchain ecosystems and pressures expensive chains to reduce fees.
- Multi-chain strategies are becoming the norm as projects incorporate cross-chain functionality from inception.
- Liquidity aggregators help create a more connected and accessible crypto ecosystem by addressing the challenges of cross-chain transactions.
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Coindoo
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Why the Crypto Market Is Down Today
- The crypto market is down today amid escalating geopolitical tensions in the Middle East.
- Israel launched airstrikes targeting Iran’s nuclear and ballistic missile infrastructure, prompting threats of retaliation from Iran.
- The uncertainty has led to flight-to-safety moves in traditional markets, with oil and gold prices surging and stocks, along with cryptocurrencies, dropping.
- Key cryptocurrencies like Bitcoin, Ethereum, XRP, BNB, Solana, Dogecoin, and TRON have seen declines ranging from 0.96% to 10.00% in the past 24 hours.
- The crypto market is highly sensitive to geopolitical uncertainty, reflecting a move away from volatile assets to safer options like gold and oil.
- Market participants are closely monitoring diplomatic developments for potential impacts on both traditional and digital financial systems.
- The drop in crypto prices is part of a broader risk-off sentiment in global markets.
- Further escalation of tensions could lead to continued market volatility.
- Traders are focusing on geopolitical developments affecting market sentiment.
- The situation involving Israel and Iran has triggered concerns about broader regional conflict.
- Cryptocurrencies are following the trend of traditional markets in response to geopolitical risks.
- Bitcoin is down by 3.30%, Ethereum by 9.04%, and Solana by 10.00% among others.
- Investors are opting for safer assets like gold and oil amidst the uncertainty.
- The market outlook remains cautious as tensions persist and diplomatic resolutions are sought.
- The geopolitical tension in the Middle East has impacted global financial markets, with crypto assets experiencing a notable decline.
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Coindoo
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Here’s the Support Level That Matters Now for Bitcoin
- Bitcoin's recent pullback below a key level has raised concerns about the sustainability of its recent upside momentum.
- The move above $106,000 was seen as a critical test, and slipping below it indicates a speculative-driven breakout rather than structural demand.
- The next significant support level to watch is at $100,437, with a potential for deeper downside moves if this level is breached.
- Ethereum's markets have shown unusual behavior with a surge in open interest but a collapse in funding rate, suggesting rising speculative activity without strong conviction.
- A firm's $425 million Ethereum treasury allocation coincided with a 70% stock plunge, revealing market fragility.
- The recent breakout in Bitcoin may have been influenced by hype around Circle's $24 billion IPO announcement, but the market lacks fundamental drivers for sustained rallies.
- Traders are advised to be cautious as BTC trades below the breakout level and Ethereum displays signs of speculative dislocation.
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Coindoo
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U.S. Senate Revealed When The Final Vote on Stablecoin Regulation Will Take Place
- The U.S. Senate has scheduled the final vote on stablecoin regulation for June 17, with the exact time to be determined by Senate leaders.
- The bill under consideration is known as the Guiding and Establishing National Innovation for U.S. Stablecoins Act and aims to provide a comprehensive framework for U.S. dollar-backed stablecoins.
- Key provisions of the GENIUS Act include requiring stablecoins to be fully backed by U.S. dollars or similar liquid assets and mandating annual audits for issuers with over $50 billion market capitalization.
- The proposed legislation also sets regulatory standards for foreign-based stablecoin issuers operating in the U.S. market.
- The Senate conducted a procedural vote to move the bill forward, anticipating the final decision. Approval of the GENIUS Act could bring legal clarity to the expanding stablecoin sector, impacting the issuance and management of digital dollars within the financial system.
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Cryptopotato
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David Kinitsky Joins Everstake as CEO to Drive Institutional Growth, Investment and Global Expansion
- Everstake, a leading staking provider, appoints David Kinitsky as Chief Executive Officer to drive institutional growth and global expansion.
- Kinitsky succeeds Sergii Vasylchuk, who will now assume the role of President at Everstake.
- This change in leadership signals Everstake's focus on expanding into institutional and global markets.
- David Kinitsky's experience includes leadership roles at Grayscale Investments, Fidelity Investments, Circle, and Kraken, emphasizing his expertise in crypto and financial innovation.
- Under Kinitsky's leadership, Everstake aims to enhance its staking services, cater to institutional demand, and explore opportunities in infrastructure and financial products.
- Everstake has supported over 85 blockchain networks and secured $6.5 billion in delegated assets while maintaining decentralization.
- Kinitsky's appointment reinforces Everstake's commitment to non-custodial staking and fostering institutional blockchain adoption.
- The company actively engages with regulators, including the SEC's Crypto Task Force, to shape policies and promote regulatory compliance.
- Everstake's compliant and transparent approach sets it apart as the industry evolves with clearer regulatory guidelines.
- Founded in 2018, Everstake provides staking services to both institutional and retail clients, ensuring 99.9% uptime and maintaining a secure infrastructure.
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Coindoo
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Bitcoin Dropped Under $104,000 — Key Levels to Watch Out For
- Bitcoin is currently trading at $104,360, marking a 3.10% decline with a total market cap of $2.07 trillion.
- Despite the drop, trading volume surged by 28.47% to $67.97 billion, indicating intense activity likely from liquidations.
- Key resistance levels to watch include $110,000, $106,000, and key support levels at $104,000 and $102,000–$103,000.
- The recent selloff followed a failed breakout near $110,000 and could continue if BTC fails to reclaim $106,000.
- Bulls might have an opportunity if Bitcoin stabilizes above $104,000 and consolidates with rising support.
- Increased liquidations and market volatility have contributed to the recent price fluctuation.
- A sustained move below $102,000–$103,000 could lead to further selloff pressure.
- Volume decline after the recent spike could indicate potential downside risks.
- Bitcoin's short-term outlook remains uncertain, hinging on its ability to hold key support levels.
- The article was originally posted on Coindoo, offering insights into Bitcoin's latest price movements.
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Coindoo
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Kaspa Eyes $0.35 and Cardano Battles $0.68 Resistance as BlockDAG’s X1 App Reaches 1.5M Users
- Kaspa (KAS) aims for $0.35 while Cardano struggles at $0.68 resistance levels, with BlockDAG's X1 app amassing 1.5M users worldwide.
- BlockDAG's X1 Miner app has gained significant adoption, rewarding users with BDAG daily on their phones, surpassing typical presale benchmarks.
- The presale data for BlockDAG shows over $298 million raised, offering coins at $0.0018, potentially leading to a 2,678% gain for early investors.
- Kaspa's price prediction targets $0.35 by 2025 with potential to reach $0.70, depending on market recovery, while Cardano faces technical challenges below $0.68.
- Cardano struggles technically with ADA trading near $0.628, facing resistance at $0.68 and declining on-chain activity and social media dominance.
- Kaspa's growth outlook relies on future conditions, contrasting with BlockDAG's real activity through the X1 Miner app and Cardano's bearish indicators.
- BlockDAG's user momentum sets it apart, paving the way for it to be a top crypto with its engaged user base and upcoming price increase to $0.05.
- BlockDAG's infrastructure and user-centric approach position it as a valuable crypto project for 2025, emphasizing tangible participation over mere speculation.
- Kaspa's potential to reach $0.35 and Cardano's struggle with $0.68 resistance highlight differing paths in the crypto landscape, as BlockDAG solidifies its user-driven model.
- With BlockDAG's growing user base, easy access to mining rewards, and a closing presale window at $0.0018, it emerges as a promising crypto project based on real-world usage.
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Coindoo
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Shopify Partners with Coinbase and Stripe to Enable USDC Payments for Global Merchants
- Shopify partners with Coinbase and Stripe to enable USDC payments for global merchants.
- Sellers on Shopify can now accept USD Coin (USDC) via Base, Coinbase's Layer 2 blockchain, streamlining crypto payments.
- Stripe facilitates backend payment infrastructure, allowing shoppers to pay with USDC using their preferred crypto wallet.
- Merchants will receive payments converted to their local currency by default and deposited into their bank accounts.
- The service is launching for Shopify merchants in 34 countries, enhancing crypto accessibility for small and mid-sized businesses globally.
- Shopify's COO and VP of Product expressed gratitude for Stripe's support in simplifying payments for merchants.
- The integration with Coinbase's Base network and Stripe's fiat conversion tools aims to normalize stablecoin usage in e-commerce.
- This partnership eliminates barriers like volatility concerns and settlement complexity, promoting crypto adoption among merchants.
- The collaboration signifies a significant step in bridging Web3 payments with mainstream commerce.
- Shopify positions itself at the forefront of Web3 commerce by offering sellers access to crypto-native consumer demand.
- Global interest in stablecoins and blockchain-based payments is rising, enhancing the appeal of this partnership.
- The initiative aims to offer traditional ease alongside crypto-native consumer demand.
- Overall, the partnership between Shopify, Coinbase, and Stripe opens new avenues for global merchants to embrace crypto payments.
- This move aligns with the trend of increasing interest in stablecoins and blockchain-based transactions.
- The collaboration is a strategic step for Shopify to cater to the growing demand for crypto payments among its merchants.
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Coinjournal
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Bitcoin falls to $103K, options skew hits 3-month low as mideast tensions drive oil prices higher
- Middle East tensions led to a spike in oil prices and a flight to safety in global markets.
- Bitcoin (BTC) faced a notable price drop as traders sought downside protection through put options.
- Bitcoin options skew hit a 3-month low, with put options becoming pricier relative to call options.
- The demand for protective puts showed growing unease about Bitcoin's short-term trajectory.
- Bitcoin's price fell to $103,150 amidst geopolitical uncertainty and a 4.59% loss over 24 hours.
- Oil prices surged over 6% to $74.30 following Israeli airstrikes on Iran and Tehran's retaliatory missile action.
- Rising oil prices could lead to global inflationary pressures, impacting Fed policy and market expectations.
- Traditional markets reacted with a 1.5% decline in US and European stock index futures.
- Investors favored safety assets like bonds, gold, and safe-haven currencies amidst the market volatility.
- The 10-year Treasury yield decreased to 4.32% as demand for US government debt increased.
- US dollar strengthened against the euro and British pound, but weakened against safe-haven currencies.
- Market participants are cautious about potential downside volatility in stocks and cryptocurrencies.
- Bitcoin's 50-day SMA at $103,150 is seen as a critical support level amidst the price decline.
- The surge in demand for protective puts reflects concerns about Bitcoin's near-term performance.
- Oil price spike and geopolitical tensions highlight potential economic and market stability risks.
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Coindoo
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Coinbase Unveils Crypto Rewards Credit Card With Up to 4% Bitcoin Cashback
- Coinbase unveiled its new Coinbase One Card during the company’s 2025 State of Crypto Summit.
- The card will offer up to 4% Bitcoin cashback and will be exclusively available to Coinbase One subscribers.
- Coinbase One is the platform’s premium service with benefits like zero trading fees and enhanced staking rewards.
- The rewards on the Coinbase One Card will be based on the user’s digital asset holdings.
- Users will be incentivized to spend while also retaining assets on the platform.
- The card, backed by American Express, will provide global usability and is set to launch in Fall 2025.
- Coinbase aims to merge digital assets with traditional financial tools and boost user engagement through loyalty incentives.
- The move by Coinbase reflects the increasing integration of crypto into mainstream financial products.
- Competition in the crypto-to-consumer payments sector is growing, prompting companies to incorporate crypto into traditional products.
- Coinbase’s initiative blurs the boundaries between traditional fintech and Web3 technologies.
- The launch of the Coinbase One Card is part of the company's strategy to combine crypto rewards and everyday financial tools.
- The card will provide one of the most lucrative crypto rewards offerings in the market.
- Coinbase's efforts aim to incentivize users to engage with its platform and encourage loyalty through rewards.
- The announcement signifies Coinbase’s commitment to integrating crypto into mainstream financial services.
- The card launch demonstrates Coinbase's focus on strengthening user loyalty and engagement within its ecosystem.
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Coindoo
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At $0.011397, Unstaked Positions Early Buyers for 2700% Gains! SHIB & DOGE Struggle at Key Points
- Recent crypto trends show varied movements with meme tokens SHIB and DOGE struggling. Unstaked, a promising DeFi platform, gains attention for its tools and unique features.
- Unstaked, in its presale phase, has secured $9.6 million funding with a token price of $0.011397 and 27x projected upside.
- SHIB's potential uptrend is indicated by nearing oversold levels, with targets at $0.000013 and $0.000015.
- DOGE faces selling pressure around $0.19, with concerns of decline towards $0.15 if support at $0.18 is breached.
- Unstaked distinguishes itself with a Proof of Intelligence model, community involvement, and AI-powered features, attracting investors seeking utility-driven projects.
- Unstaked's $1M giveaway to enhance engagement highlights its commitment to a supportive community and value creation.
- Compared to sentiment-driven SHIB and DOGE, Unstaked's structured development and real utility position it as a solid long-term investment option.
- Market dynamics favor Unstaked's clear roadmap and functional model over speculative meme coins that rely on trends and emotions.
- With a focus on features and future growth, Unstaked emerges as a potential top choice for investors valuing sustainability and innovation.
- Unstaked's progress and value proposition present a strong case for long-term growth amidst a market environment characterized by uncertainty and speculation.
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Coindoo
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DTCC Reportedly Developing Stablecoin Amid Growing Digital Asset Focus
- DTCC, one of the most influential institutions in traditional markets, is reportedly developing a stablecoin as part of its focus on digital assets and blockchain-based finance.
- The initiative is in line with DTCC's exploration of digital asset use cases, led by Nadine Chakar, Global Head of Digital Assets.
- As a major entity in post-trade processing and handling trillions in daily securities transactions, DTCC's involvement in stablecoin development could be pivotal for institutional adoption of digital assets.
- Stablecoins are seen as an emerging alternative settlement mechanism and blockchain use case, according to DTCC's recent blog post.
- The company mentions stablecoins' applications in corporate cross-border treasury management, retail, and securities settlements.
- TradFi institutions like DTCC entering the stablecoin space reflects a broader trend of traditional firms exploring blockchain-based payment solutions.
- With stablecoins gaining traction in global settlement systems and regulatory clarity improving, institutions are assessing how these digital tools can improve speed, efficiency, and transparency.
- A potential DTCC-backed stablecoin launch could play a significant role in validating digital assets as part of future financial infrastructure, bridging the gap between traditional finance and decentralized finance in a regulated manner.
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Coindoo
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HBAR & ETH Show Weakness, But BlockDAG Dominates with $298M Presale Surge and Limited-Time $0.0018 Entry
- Hedera (HBAR) and Ethereum (ETH) are showing weakness and conflicting signals, with HBAR facing bearish momentum and ETH struggling with mixed momentum.
- BlockDAG (BDAG) dominates with a $298 million presale surge, selling 22.4 billion coins, and offering a limited-time entry at $0.0018 until June 13.
- HBAR's bearish momentum is building as it faces resistance near $0.208, with potential short setups towards the $0.185 to $0.180 support zone.
- ETH shows conflicting signs despite strong ETF inflows and funds moving to private wallets, with short sellers controlling the derivatives market.
- BlockDAG adds $10 million in a week to its presale, reaching $298 million, and sets the price at $0.0018 until June 13, offering an ROI potential of 2,678%.
- BlockDAG's growth is not based on speculation, as it shows real traction with sustained demand and a clear path to major returns.
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