NEW!Incredible offer for our exclusive subscribers! Read More
BTC

$4 Billion Liquidated in a Day Following the Tesla Announcement

1 Mins read

Today is a bloody day in the cryptocurrency market. The current downturn was propelled by Tesla’s most recent announcement, revealing that the company will no longer be accepting bitcoin as payment for its electric vehicles.

cryptonews.net

  • As CryptoPotato reported earlier today, the electric vehicle manufacturer announced that they would no longer accept BTC for its products.
  • Elon Musk also retweeted the decision, which quoted environmental issues related to the energy-intensive Bitcoin mining process.
  • This had many in the community scratching their head as to what changed Musk’s mind after he had previously agreed with Jack Dorsey that bitcoin incentivizes renewable energy.
  • In any case, the damage is done, and the cryptocurrency market is bleeding in response. The total capitalization lost almost $400 billion (at the time of this writing) within the last 24 hours.
  • Moreover, around $4 billion worth of both long and short positions were liquidated in the same period, according to data from Bybt.
  • Not surprisingly, bitcoin markets account for the majority of the liquidations, standing at just over $2 billion at press time, followed by ETH and Filecoin.

  • Almost 90% of the liquidations were of long positions where Huobi and Bybit occupy the first two spots in terms of volume, followed by Binance and OKEx.

Related posts
AltcoinsBTCCryptoETHMiningOtherStock

Bitcentr launched the largest aid campaign!

1 Mins read
Ukraine is at war, war for our freedom but also for European freedom and democracy. People of Ukraine are in a big…
AltcoinsBTCCryptoETH

Beecrypt with Bitfinex will start a trading giveaway for Telegram users

1 Mins read
In this paragraph, Bitfinex with Friends of beecrypt.net are starting with Top crypto giveaway. After that From 0.001 tо 0.25 bitcоin and…
AltcoinsBTCCryptoETH

Beecrypt with Bitfinex will start a trading giveaway for Telegram users

1 Mins read
In this paragraph, Bitfinex with Friends of beecrypt.net are starting with Top crypto giveaway. After that From 0.001 tо 0.25 bitcоin and…
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *