🦎🚀 Stuck in the Doghouse 🏠🐶

Friday, August 18, 2023

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Cascading Effect

Bitcoin experienced a substantial crash, plummeting below the $26,000 mark. This downward movement had a ripple effect on the wider cryptocurrency market, leading to approximately $800 million in liquidations.

The decline in Bitcoin's value on Thursday coincided with news of China's Evergrande Group, a major property developer, filing for Chapter 15 bankruptcy protection in New York. Simultaneously, reports emerged about a Wall Street Journal article revealing that Elon Musk's SpaceX had devalued its Bitcoin holdings by $373 million and had conducted an undisclosed amount of selling.

In today's news, Ether futures poised for approval, $1.7M Ethereum stuck in the Shibarium Bridge contract and Spacex Bitcoin holdings reduced.

Read on!

Exploring The Most Profitable Binance Launchpad Projects

The top 10 most profitable Binance Launchpad Projects gave significant returns at their peak, ranging from 113x to 1,649x.

On the other hand, recent Binance Launchpad Projects that launched in 2022 and 2023 also gave positive returns, ranging from 11x to 411x the initial investment at their peak.

https://gcko.io/y30y6sz

24h Hot Searches Worldwide 🔥

ApeCoin (-13.3%)
Trust Wallet (-1.9%)
Sei (-11.2%)
HarryPotterObamaPacMan8Inu (+179.1%)
Sui (-10.1%)
Arbitrum (-2.5%)
CyberConnect (+19.3%)

Trust Wallet is one of the most popular non-custodial wallets.

Find out how to get started with it in this step-by-step tutorial: https://youtu.be/jBCXf8yylQA

Let's find out here!

On the Verge

Bloomberg reports that Ether Futures Exchange Traded Funds (ETFs) are on the brink of receiving approval in the United States.

Currently, there are existing U.S. ETFs that encompass crypto derivatives, specifically bitcoin futures ETFs. The entire industry is eagerly anticipating a decision on whether ETFs centered around holding actual bitcoin, rather than derivatives, will also be granted approval.

CoinDesk

Off to a Rocky Start

Shiba Inu's highly anticipated layer-2 network, Shibarium, has experienced a challenging beginning, facing significant problems just one day after its launch.

Upon analyzing the network's bridge contract, responsible for transferring funds from Ethereum to the layer-2 solution, it has been revealed that approximately $1.7 million worth of Ethereum is currently trapped between the two networks.

Decrypt

Reducing Exposure

SpaceX reduced the value of its bitcoin holdings by a combined $373 million in both 2020 and 2021 as reported by The Wall Street Journal.

The publication also indicated that the aerospace company had engaged in bitcoin sales, but it did not provide specific details regarding the quantity or timing of these transactions. In a conversation from 2021, Elon Musk mentioned that SpaceX possessed bitcoin, though the exact amount was undisclosed due to the private nature of the company.

The Block

What are Reddit's r/CryptoCurrency MOONs? Read our guide on how to move your MOON tokens to MetaMask, along with how to trade MOON on centralized and decentralized exchanges.

Find out more at https://gcko.io/wvpc7zp.

Here are the top trending coins for this week!