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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Severe confusion hits the digital currency market amid anticipation of massive liquidations

    Rocky
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    • Post n°1

    Severe confusion hits the digital currency market amid anticipation of massive liquidations Empty Severe confusion hits the digital currency market amid anticipation of massive liquidations

    Post by Rocky Tue 12 Sep 2023, 6:43 am

    Severe confusion hits the digital currency market amid anticipation of massive liquidations

    Severe confusion hits the digital currency market amid anticipation of massive liquidations 35812



    Market
       


    Economy News - Baghdad
    Volatility in the cryptocurrency market has increased as speculation that FTX could begin sales of digital assets through a Chapter 11 bankruptcy has affected other cryptocurrencies.
    The director of the FTX bankruptcy process recovered approximately $7 billion in assets, including $3.4 billion in digital currencies. A court hearing is scheduled for tomorrow to consider a plan to start selling digital tokens to help pay creditors, according to recent filings.
    Following this news, Bitcoin briefly fell below $25,000 for the first time in 3 months.
    The largest digital currency fell as much as 3.3% to $24,958 on Monday, the lowest level since June 15, but it recovered all its losses during the last 24 hours. At the same time, the Solana currency declined for the fourth consecutive trading session, bringing its decline during the last week of that period to about 7.3%.
    Solana is one of FTX's largest holdings. The bankrupt exchange asked the court last month to approve the sale or transfer of digital assets. A hearing is scheduled for September 13.
    Provided filing data shows that FTX holds approximately $1.2 billion worth of Solana, the native digital token of the Solana network. The balances also include $560 million in Bitcoin, the largest digital asset, and $192 million in Ethereum, which comes in second place.
    While a measure that includes the 100 largest encrypted symbols fell approximately 3% yesterday before rising by approximately the same percentage today.
    FTX is seeking to appoint the asset management arm of Galaxy Digital Holdings, owned by billionaire Michael Novogratz, to help oversee a large holding of digital tokens on the collapsed exchange. The weekly limit for cryptocurrency transactions could range from $50 million to $200 million, according to a filing last August.
     
    Cryptocurrencies today
    The combined market value of the crypto market during these moments of today’s trading amounted to approximately $1.02 trillion. The trading volume reached approximately $37.91 billion.
    Bitcoin rose during the last 24 hours to the levels of $25,849, by 0.25%, while recording weekly gains of 0.4%. Its market value now stands at $502 billion.
    While Ethereum, which is the largest digital currency by market value after Bitcoin, declined by about 0.7% during the last 24 hours, reaching $1,585, with weekly declines of 2.9%, and a market value of about $190 billion.
    The price of Binance Coin rose by 0.3% to record $210.
    While the price of Ripple XRP decreased by 2.3% to $0.47241.
    Cardano witnessed a rise to $0.2474, by 1.5%, while it fell during the last 7 days by 4.15%.
    On the other hand, Dogecoin rose to the level of 0.061232, by 0.3% during the last 24 hours.
    The crypto rebound came as stocks rose the most since June, and bond yields fell. Reports in both the United States and Europe have fueled bets that central banks will hold off on raising interest rates to prevent a recession.
     


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    Added 09/12/2023 - 1:26 PM
    https://economy-news.net/content.php?id=36297#hathalyoum
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