The cryptocurrency market seems to be collapsing. Let's keep calm - and rather try to understand why.
The cryptocurrency market seems to be collapsing. Let's keep calm - and rather try to understand why.
A new collapse involves cryptocurrencies: in the last 24 hours, Bitcoin has recorded a 10% loss, while Ethereum has fallen by as much as 20%. The collapse also affected other digital currencies, thus supporting the thesis that this historic moment is perhaps one of the most difficult in the world of cryptocurrencies.
This is a correction affecting the international market, linked to a general crisis on the traditional stock exchanges, especially the Asian ones, with Japan at an all-time low and the remaining markets literally collapsing.
The Asian market collapse
Keeping calm is not easy, but it may help to take a step back and try to understand what is happening. Let's take a look at the Asian stock exchanges: Topix 100 is down 7.5%, while Nikkei 225 is down 6%.
Slightly improved the Chinese situation, but the calm is almost apparent - as well as circumscribed. Hong Kong, on the other hand, is down 0.40 per cent on Hang Seng and down sharply on S&P 50 Asia. India and South Korea followed, posting major losses of under 2%.
Stock market and cryptocurrencies crash
Although the cryptocurrency market is unrelated to the ordinary market, it is impossible not to think that there may be a correlation, albeit a collateral one, especially if we consider the economic crisis with a slow international, almost global one.
The effects of the stock market crash on the crypto market are inevitable. Already on Sunday, there was a fair loss at the close of the main financial centres. This loss was confirmed by the opening of the stock exchanges this morning.
Cryptocurrencies Collapse: The Jump Crypto Case
But there is more - and it could concern Jump Cripto, the division of Jump Trading Group dedicated precisely to the world of cryptocurrencies. Jump Cripto has reportedly liquidated a considerable portion of positions on $ETH, liquidating Lido DAO synthetic tokens as a result.
These are economic moves worth hundreds of millions of dollars and it is unclear when they will finally stop. The reason for these liquidations is still unknown: what is certain is that the Jump division is already under investigation by the CFTC, a US government agency specialising in futures and commodities markets.
Don't miss out on updates and the latest news related to the world of Web3 and cryptocurrencies: subscribe to the newsletter from SpazioCrypto.
Binance opened a community vote to decide whether to list Pi Network. The project, which has been awaited for years, is raising enthusiasm but also criticism.
The cryptocurrency market seems to be collapsing. Let's keep calm - and rather try to understand why.
A new collapse involves cryptocurrencies: in the last 24 hours, Bitcoin has recorded a 10% loss, while Ethereum has fallen by as much as 20%. The collapse also affected other digital currencies, thus supporting the thesis that this historic moment is perhaps one of the most difficult in the world of cryptocurrencies.
This is a correction affecting the international market, linked to a general crisis on the traditional stock exchanges, especially the Asian ones, with Japan at an all-time low and the remaining markets literally collapsing.
The Asian market collapse
Keeping calm is not easy, but it may help to take a step back and try to understand what is happening. Let's take a look at the Asian stock exchanges: Topix 100 is down 7.5%, while Nikkei 225 is down 6%.
Slightly improved the Chinese situation, but the calm is almost apparent - as well as circumscribed. Hong Kong, on the other hand, is down 0.40 per cent on Hang Seng and down sharply on S&P 50 Asia. India and South Korea followed, posting major losses of under 2%.
Stock market and cryptocurrencies crash
Although the cryptocurrency market is unrelated to the ordinary market, it is impossible not to think that there may be a correlation, albeit a collateral one, especially if we consider the economic crisis with a slow international, almost global one.
The effects of the stock market crash on the crypto market are inevitable. Already on Sunday, there was a fair loss at the close of the main financial centres. This loss was confirmed by the opening of the stock exchanges this morning.
Cryptocurrencies Collapse: The Jump Crypto Case
But there is more - and it could concern Jump Cripto, the division of Jump Trading Group dedicated precisely to the world of cryptocurrencies. Jump Cripto has reportedly liquidated a considerable portion of positions on $ETH, liquidating Lido DAO synthetic tokens as a result.
These are economic moves worth hundreds of millions of dollars and it is unclear when they will finally stop. The reason for these liquidations is still unknown: what is certain is that the Jump division is already under investigation by the CFTC, a US government agency specialising in futures and commodities markets.
Don't miss out on updates and the latest news related to the world of Web3 and cryptocurrencies: subscribe to the newsletter from SpazioCrypto.
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