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.
The largest cryptocurrency exchange Deribit received a takeover offer. The Kraken exchange was interested in acquiring the largest platform for trading cryptocurrency derivatives.
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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