The total liquidity of the leading cryptocurrency Bitcoin (BTC) has fallen dramatically by 53.4% from the peak last seen before the collapse of the Bahamas digital asset exchange FTX on October 25 last year. compared to the beginning of 2023,
Liquidity
Liquidity
The term liquidity refers to the process, speed, and ease with which a particular asset or security can be converted into cash. Notably, the liquidity forecast is to hold at the market price, with the most liquid assets representing cash, and the most liquid assets being cash itself. In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting the market price. · Nothing is more liquid than cash, while representing other assets
The term liquidity refers to the process, speed, and ease with which a particular asset or security can be converted into cash. Notably, the liquidity forecast is to hold at the market price, with the most liquid assets representing cash, and the most liquid assets being cash itself. In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting the market price. · Nothing is more liquid than cash, while representing other assets
Read this term for the original currency bitcoin
bitcoin
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset nor to its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hannich made the first official BTC transaction with a real company by trading 10,000 BTC for 2 pizzas at a local Papa John’s.
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset nor to its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hannich made the first official BTC transaction with a real company by trading 10,000 BTC for 2 pizzas at a local Papa John’s.
Read this term The blockchain fell by 40.8%.
The numbers are based on New report By digital asset data provider, CCData, formerly CryptoCompare. The company, which is also a UK-registered benchmark, said it analyzed 14 cryptocurrency exchanges for the report.
According to CCData, the recent increase in regulatory scrutiny against cryptocurrency exchanges, particularly in the United States, has greatly affected liquidity across various markets, including the cryptocurrency market. She added that this effect was exacerbated by the market maker’s departure from jurisdiction.
Earlier this month, the US Securities and Exchange Commission sued Binance, the world’s largest cryptocurrency exchange by trading volume, accusing the company and its CEO Changpeng Zhao of operating an illegal trading platform, offering unregistered securities and misusing customer funds. , among other allegations. The securities watchdog followed that up by striking Coinbase, the largest crypto exchange in the US, alleging it was offering unregistered securities on an unauthorized trading platform.
In recent months, the regulator has also filed a complaint against cryptocurrency exchange Bittrex for allegedly operating without registration and forcing Kraken to shut down its staking-as-a-service program. In addition, it charged cryptocurrency exchange Gemini and crypto lender Genesis for allegedly offering unregistered securities.
Biggest BTC liquidation since FTX crash
According to CCData, the recent months of regulatory scrutiny and other “macroeconomic stresses” are likely responsible for the shrinking liquidity in the US cryptocurrency market. The company noted that market depth of 1%, or the ability of a cryptocurrency exchange to absorb a transaction equivalent to 1% of its total trading volume, has fallen significantly among US digital asset exchanges since November. She added that the depth of bitcoin has shrunk from 1,500 BTC to 400 BTC.
“The impact varies between exchanges: OkCoin, Bittrex, Cexio, and BinanceUS faced significant liquidity drops of 97.6%, 99.2%, 70.6%, and 78.4% year-to-date, respectively, with Bittrex and Binance. The US is facing SEC action.” CCData explanation.
Moreover, the SEC charges against Binance announced on June 5 “spurred a massive wave of Bitcoin long liquidations on a scale not seen since the FTX crash,” the digital asset data provider noted. Within an hour of the announcement, total open interest, or the total number of outstanding BTC futures or options contracts, fell by 4.51%.
“The announcement surprised bullish traders, especially altcoins, such as Cardano and Solana, which were specifically mentioned in the lawsuit and are now considered securities by the SEC,” CCData explained. “These tokens have seen the most significant declines.”
The total liquidity of the leading cryptocurrency Bitcoin (BTC) has fallen dramatically by 53.4% from the peak last seen before the collapse of the Bahamas digital asset exchange FTX on October 25 last year. compared to the beginning of 2023,
Liquidity
Liquidity
The term liquidity refers to the process, speed, and ease with which a particular asset or security can be converted into cash. Notably, the liquidity forecast is to hold at the market price, with the most liquid assets representing cash, and the most liquid assets being cash itself. In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting the market price. · Nothing is more liquid than cash, while representing other assets
The term liquidity refers to the process, speed, and ease with which a particular asset or security can be converted into cash. Notably, the liquidity forecast is to hold at the market price, with the most liquid assets representing cash, and the most liquid assets being cash itself. In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting the market price. · Nothing is more liquid than cash, while representing other assets
Read this term for the original currency bitcoin
bitcoin
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset nor to its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hannich made the first official BTC transaction with a real company by trading 10,000 BTC for 2 pizzas at a local Papa John’s.
While some may still wonder what Bitcoin is, who created Bitcoin, or how Bitcoin works, one thing is certain: Bitcoin has changed the world. No one can remain indifferent to this revolutionary and decentralized digital asset nor to its blockchain technology. In fact, we’ve come a long way since Florida resident Laszlo Hannich made the first official BTC transaction with a real company by trading 10,000 BTC for 2 pizzas at a local Papa John’s.
Read this term The blockchain fell by 40.8%.
The numbers are based on New report By digital asset data provider, CCData, formerly CryptoCompare. The company, which is also a UK-registered benchmark, said it analyzed 14 cryptocurrency exchanges for the report.
According to CCData, the recent increase in regulatory scrutiny against cryptocurrency exchanges, particularly in the United States, has greatly affected liquidity across various markets, including the cryptocurrency market. She added that this effect was exacerbated by the market maker’s departure from jurisdiction.
Earlier this month, the US Securities and Exchange Commission sued Binance, the world’s largest cryptocurrency exchange by trading volume, accusing the company and its CEO Changpeng Zhao of operating an illegal trading platform, offering unregistered securities and misusing customer funds. , among other allegations. The securities watchdog followed that up by striking Coinbase, the largest crypto exchange in the US, alleging it was offering unregistered securities on an unauthorized trading platform.
In recent months, the regulator has also filed a complaint against cryptocurrency exchange Bittrex for allegedly operating without registration and forcing Kraken to shut down its staking-as-a-service program. In addition, it charged cryptocurrency exchange Gemini and crypto lender Genesis for allegedly offering unregistered securities.
Biggest BTC liquidation since FTX crash
According to CCData, the recent months of regulatory scrutiny and other “macroeconomic stresses” are likely responsible for the shrinking liquidity in the US cryptocurrency market. The company noted that market depth of 1%, or the ability of a cryptocurrency exchange to absorb a transaction equivalent to 1% of its total trading volume, has fallen significantly among US digital asset exchanges since November. She added that the depth of bitcoin has shrunk from 1,500 BTC to 400 BTC.
“The impact varies between exchanges: OkCoin, Bittrex, Cexio, and BinanceUS faced significant liquidity drops of 97.6%, 99.2%, 70.6%, and 78.4% year-to-date, respectively, with Bittrex and Binance. The US is facing SEC action.” CCData explanation.
Moreover, the SEC charges against Binance announced on June 5 “set off a massive wave of long bitcoin liquidations on a scale not seen since the FTX crash,” the digital asset data provider noted. Within an hour of the announcement, total open interest, or the total number of outstanding BTC futures or options contracts, fell by 4.51%.
“The announcement surprised bullish traders, especially altcoins, such as Cardano and Solana, which were specifically mentioned in the lawsuit and are now considered securities by the SEC,” CCData explained. “These tokens have seen the most significant declines.”