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    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

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    Best Crypto Exchange Affiliate Programs in 2023

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    What does Crypto Index fund Means and How to Invest?

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    Who Will Reach $1 First In 2023?

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    5 Best New BSC Cryptocurrencies To Invest In 2023

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    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

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    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

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    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

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    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

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    Bulls Aim Big After Recent Surge Above $0.5

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    ADA Price (Cardano) Plunge To $0.32 On The Horizon As Bulls Show Weak Hands

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    Optimism Crashes 33% Following Token Unlocks, Why There Could Be More Pain To Come

    Optimism Crashes 33% Following Token Unlocks, Why There Could Be More Pain To Come

    Doge Breaking This Single Level Will Spark Fresh Rally

    Doge Breaking This Single Level Will Spark Fresh Rally

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    Rally Gathers Pace, $0.55 Target In Sight

    Polkadot Experiences Correction After Reaching $5.54: What’s Next In Store?

    Polkadot Experiences Correction After Reaching $5.54: What’s Next In Store?

    ADA Price (Cardano) Breaking This Resistance Could Spark Bullish Moves

    ADA Price (Cardano) Breaking This Resistance Could Spark Bullish Moves

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  • Home
  • Crypto
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  • Learn
    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Best Crypto Exchange Affiliate Programs in 2023

    Best Crypto Exchange Affiliate Programs in 2023

    What does Crypto Index fund Means and How to Invest?

    What does Crypto Index fund Means and How to Invest?

    Who Will Reach $1 First In 2023?

    Who Will Reach $1 First In 2023?

    5 Best New BSC Cryptocurrencies To Invest In 2023

    5 Best New BSC Cryptocurrencies To Invest In 2023

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

  • Analysis
    Bulls Aim Big After Recent Surge Above $0.5

    Bulls Aim Big After Recent Surge Above $0.5

    Ethereum Breaks USD 4K, Indicators Suggest Short-term Recovery

    Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1,920

    ADA Price (Cardano) Plunge To $0.32 On The Horizon As Bulls Show Weak Hands

    Risk of Sharp Drop Below $300

    Optimism Crashes 33% Following Token Unlocks, Why There Could Be More Pain To Come

    Optimism Crashes 33% Following Token Unlocks, Why There Could Be More Pain To Come

    Doge Breaking This Single Level Will Spark Fresh Rally

    Doge Breaking This Single Level Will Spark Fresh Rally

    Ethereum Price Indicators Show Vulnerability to Bigger Correction

    Ethereum Price Key Indicators Suggest A Strengthening Case For Surge To $2K

    Rally Gathers Pace, $0.55 Target In Sight

    Rally Gathers Pace, $0.55 Target In Sight

    Polkadot Experiences Correction After Reaching $5.54: What’s Next In Store?

    Polkadot Experiences Correction After Reaching $5.54: What’s Next In Store?

    ADA Price (Cardano) Breaking This Resistance Could Spark Bullish Moves

    ADA Price (Cardano) Breaking This Resistance Could Spark Bullish Moves

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    Bridge Marks of Fate for Tollan Worlds Mint

    Bridge Marks of Fate for Tollan Worlds Mint

    Vulcan Forged Opens Alpha V2 of Metascapes

    Vulcan Forged Opens Alpha V2 of Metascapes

    Pass Mint for Assassin’s Creed Smart Collectible

    Pass Mint for Assassin’s Creed Smart Collectible

    Mobox Goes Cross-Chain with MoDragons

    Mobox Goes Cross-Chain with MoDragons

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    Play to Earn with Eternal Dragons via PvP and PvE Leaderboards

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    Play to Mint with Tearing Spaces Beta

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    Shoot-em-up to Earn with Grit Launch

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Here’s What Led to the $300 Billion Crypto Market Sell-Off Today

2021-11-16
in Bitcoin
0
Here’s What Led to the $300 Billion Crypto Market Sell-Off Today
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The cryptocurrency market registered a pointy correction earlier as we speak the place the top-10 cryptocurrencies misplaced 7-10% of their market cap inside minutes. The market correction led to almost $300 billion getting whipped off the crypto market as its valuation fell from $3 trillion to $2.65 trillion on the time of writing. That is the second flash crash in two weeks regardless of many market pundits predicting November to be a bullish month.

Supply: Coin360

Bitcoin (BTC) wiped off nearly all of its good points from November as the worth of the highest cryptocurrency fell to close $60K. The highest cryptocurrency was buying and selling above $66K within the morning earlier than recording a weekly low of $60,583. As seen on the month-to-month candle, the market sell-off has turned it purple from inexperienced.

Bitcoin
Supply: TradingView

Aside from BTC main altcoins together with Ether registered a steeper decline in value as ETH fell to a each day low of $4,271. Nevertheless, ETH’s month-to-month chart nonetheless has a inexperienced candle because of its mammoth rise this month, rising from slightly below $4K to set a number of new ATHs.

Ether
Supply: TradingView

Aside from the stablecoins, nearly all of the unstable crypto market bled in purple and wiped off main good points from the month of November. Practically $500 million price of leveraged positions additionally received liquidated.

Did Passing of $1 Trillion Infrastructure Invoice Result in the Market Wipe-Off?

The standard monetary market is struggling attributable to excessive inflation attributable to overprinting by the feds, however governments proceed to print more cash to limit the damages attributable to the printing of cash. Many imagine the sudden decline within the crypto market got here due to the approval of the controversial infrastructure invoice that become legislation earlier as we speak.

The crypto taxation half specifically divided the senate on the time of dialogue, the place those that aren’t nicely versed with a decentralized market known as for a complete surveillance system and unimaginable tax reporting calls for, whereas just a few Republican senators opposed it tooth and nail and recommended for a extra inclusive legislation.

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