Bitcoins roller coaster ride at $ 30,000, millions of liquidations, turmoil in the first republic: the summary of this week

Bitcoins roller coaster ride at $ 30,000, millions of liquidations, turmoil in the first republic: the summary of this week

what was that for a week. The cryptocurrency market experienced a massive roller coaster ride in which the market capitalization fluctuated enormously. In the end it was reasonably good, but what a trip. Let's unpack.

The most important thing first: The price of Bitcoin was calm at the beginning of the week at $ 27,500, but all of this changed on April 26th when it rose to $ 28,500. After I had spent a few hours there, it only went up again. BTC touched $ 30,000 and put the entire community in unbelief.

The bears were destroyed and the speech of "We are so back" shot up. Unfortunately everything was short -lived. On the evening of April 26th - on the same day on which the price was pumped - he lost almost $ 3,000 of his value within an hour. The entire market also collapsed.

Ultimately, this led to liquidated long and short positions worth hundreds of millions. However, this decline was also bought, and the price is now again over $ 29,000.

Otherwise, the US financial system continues to struggle in certain aspects. This time the tension within the first Republic Bank was manifested. His problems started earlier in the year and finally culminated in the fact that other large banks injected a whopping $ 30 billion.

In any case, it remains particularly interesting how the market develops and whether these turbulence stop or not.

market data

Market capitalization: 1,248 billion $ | 24-hour band: $ 53 billion | BTC dominance: 45.3 %

BTC: 29.199 $ (+3.4 %) | ETH: $ 1,888 (-2.8 %) | BNB: $ 322 (+1.4 %)

The crypto headlines this week that you are not allowed to miss

Robinhood now enables users to buy crypto directly from their personal wallet (Consensus 2023 Live). General Manager of Robinhood, who is responsible for cryptocurrencies, suggested that the company has partly benefited from the collapse of FTX and enabled users to do Krypto directly from their personal items Buy.

Phantom starts multichain app, will support Ethereum and Polygon. The popular Solana-based Wallet-Phantom-has launched a multichain app and is also supported on Ethereum and Polygon.

FTX sells LedGerx Exchange for $ 50 million in the middle of an insolvency renovation FTX will sell the LedGerx exchange for $ 50 million. This is done in the middle of the attempts to restore during bankruptcy proceedings.

arbitrum Airdrops Arb-token worth $ 120 million on 125 Daos. The well-known layer 2 scaling solution Arbitrum from Ethereum has dropped its native cryptocurrency worth $ 120 million at $ 125 decentralized autonomous organizations.

uniswap exceeds the trade volume of $ 1.5 trillion: data. The largest decentralized stock exchange-uniswap-managed to exceed a trade volume of $ 1.5 trillion. This happens against the background of an increased interest in decentralized solutions.

Banks, with $ 30 billion financial injection, help stabilizing the first republic Turbulence in the US banking system continues. Large banks have invested $ 30 billion in cash to stabilize First Republic Bank.