Polkadot (DOT), Dogecoin (DOGE) dump 5% as crypto markets correct

2021-8-3 11:56

The crypto market saw a minor sell-off this morning on the back of regulatory developments out of America, with some large-cap cryptocurrencies dropping as much as 5%.

Leading the red charts were high-speed blockchain protocol Polkadot and meme coin Dogecoin—both fell -5% as of Tuesday morning but were slightly recovering as of press time. DOT trades at $17 as of Tuesday afternoon, while DOGE saw buying at the $0.19 price level. 

Bitcoin, the world’s largest cryptocurrency by market cap, fell a tamer (-3.7%), from $39,700 to as low as $38,000. It now trades below its 34-period moving average (a tool used by traders to determine market trends using historical prices) but has support levels at $38,000 and $37,000.

Image: BTC/USD via TradingView.

Ethereum, the world’s most used blockchain, dropped -4.5% Tuesday morning, from $2,600 to nearly $2,400, but continues to trade above its 34-period moving average. However, the dip is likely to be brought up: The asset has positive catalysts lined up for later this month, with the ambitious EIP-1559—a proposal to make Ethereum transactions more efficient by using a hybrid system of base fees—set to be deployed on the mainnet soon.

Image: ETH/USD via TradingView. Liquidations run galore

The downward price move caused over $352 million worth of ‘liquidations,’ data from on-chain analytics tool Bybt shows. ‘Liquidations,’ for the uninitiated, occur when leveraged positions are automatically closed out by exchanges/brokerages as a “safety mechanism.” 

Futures and margin traders—who borrow capital from exchanges (usually in multiples) to place bigger bets—put up a small collateral amount before placing a trade. The capital is then liquidated as prices move against the trader’s position.

Over 53,891 traders were liquidated in the past day, with the largest single liquidation order occurring on futures powerhouse Bybit—a Bitcoin (BTC) valued at over $6 million

The post Polkadot (DOT), Dogecoin (DOGE) dump 5% as crypto markets correct appeared first on CryptoSlate.

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crypto polkadot correct markets dot dogecoin dump

Источник: cryptoslate.com

crypto polkadot → Результатов: 126


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Polkadot

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Dubai Based Crypto Investment Fund to Convert $750 Million Worth of BTC Into ADA and DOT Tokens

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2021-2-27 18:30


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Polkadot crashes to $13 as the crypto market retraces: What’s next for DOT?

Polkadot recorded a day of massive gains that brought its price above $30. However, the recent market downturn brought a massive red candle for DOT. What should you expect next, and should you buy some DOT now? Fundamental analysis: Rococo upgrade brings more positive sentiment to Polkadot Polkadot has experienced a major week-over-week price increase, […] The post Polkadot crashes to $13 as the crypto market retraces: What’s next for DOT? appeared first on Invezz.

2021-2-23 22:02


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21Shares becomes the first company to roll out a Polkadot ETP

Zurich-based 21Shares AG, the firm that pioneered crypto exchange-traded products (ETPs), has unveiled that it seeks to launch the world’s first Polkadot ETP. Formerly known as Amun, the company revealed this news via a press release, noting that the product is dubbed DOT ETP and it will launch through the regulated segment of the Swiss […] The post 21Shares becomes the first company to roll out a Polkadot ETP appeared first on Invezz.

2021-2-3 22:10


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Grayscale May Launch New Trusts for AAVE, Monero, and Polkadot

Grayscale, a New York-based crypto fund describing itself as an authority in digital asset investing and cryptocurrency asset management, appears to be readying themselves for a DeFi future judging from their document submission for registration of several new trusts among them for a decentralized finance governance token, checks on Jan 28 shows. Focus on Interoperability,Read More

2021-1-29 14:00


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Is Polkadot a good buy? DOT outperforms the market

Polkadot (DOT) continues to outperform the crypto sector despite its overall downtrend. DOT is currently the only cryptocurrency in the market cap top20 with a green 24-hour period. However, is Polkadot a good buy at the moment? Fundamental analysis: Polkadot is crushing the market Polkadot has entered a slow and steady retracement period after a […] The post Is Polkadot a good buy? DOT outperforms the market appeared first on Invezz.

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