Crypto saw a decline in the markets early Tuesday (December 28), which then led to liquidations of around $ 300 million on numerous crypto futures contracts, according to Coinglass.
CoinDesk reported that over 109,000 trader positions were liquidated last day, and while Bitcoin prices rose above $ 52,000 on Monday, they fell by around $ 3,000 on Tuesday.
Meanwhile, Polkadot was among the biggest losses in Bitcoin’s case, CoinDesk reported Tuesday, down 8% after being a top winner on Sunday (December 26th).
The report adds that Solana, Cardano, and XRP also suffered losses, averaging around 3.4%.
Polkadot did well last week, likely due in part to a second series of Parachain auctions on the network. Parachains are various blockchains that run over the main Polkadot network.
Related: Polkadot’s launch, the most ambitious of the “Ethereum killers”, could be the reinvention of DeFi. initiate
In addition, Bitcoin mining stocks also fell when Bitcoin fell, Investing.com said Tuesday.
Bitcoin was priced at around $ 48,355 on Tuesday, and bitcoin miners are prone to any kind of change in price movements. The stock was also put under pressure by Roth Capital analyst Darren Aftahi’s price target, which was cut from $ 55 to $ 46.
In other news, there are roughly 434,265 Bitcoin-tied or packaged Bitcoin tokens valued at over $ 21.3 billion in numerous blockchains, according to a report by Bitcoin.com on Tuesday.
Today there are ten different Bitcoin-linked projects, and the Wrapped Bitcoin Project had about 60% of all tokenized Bitcoins in circulation. Towards the end of 2018, when tokenization became increasingly popular in this area, there were numerous protocols tied to Bitcoin, and Wrapped Bitcoin eventually became the most popular.
In addition, Iran has ordered the closure of crypto mining centers to ease the burden on power plants – this is the second time this year, according to Bloomberg.
According to Mostafa Rajabi Mashhadi, spokesman for the energy industry and director of the state-run Iran Grid Management Co., efforts should be made to avoid blackouts. The ban will apply until March 6th and release 209 megawatts of electricity for household consumption.
See also: Crypto scammers face jail and heavy fines in the United Arab Emirates
In addition, the DeFi portfolio company DeBank raised $ 25 million in a financing round, Coindesk reported on Tuesday.
DeBank enables users to track and analyze their DeFi investments, and the company is now valued at $ 200 million.
Continuing the Bitcoin-related news, Coinbase Global stocks were down on Tuesday as cryptos slumped, Barrons wrote.
Bitcoin lost 7.8%, Ethereum lost 7.6%, Cardano lost 9.9% and Terra lost 10.3%.
Finally, Bloomberg writes that Bitcoin’s ongoing losses compounded its December decline.
The coin’s 7.2% decline was below its 200-day moving average, and the slump has caused investors to pull away from speculative global markets amid concerns over fading central bank stimulus.
The Federal Reserve is also considering measures to contain rising prices, which could make Bitcoin less attractive to those who view crypto as a hedge against inflation.
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