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Crypto News of the Day (12.3.)|Do whales manipulate the BTC price? • Bloodbath continues, in addition to USD-bound stablecoins and other news

4 min read
Crypto News of the Day (12.3.)|Do whales manipulate the BTC price? • Bloodbath continues, in addition to USD-bound stablecoins and other news

Here you can find an overview of the most important events that took place during the last day in the cryptoworld.

Markets

 

In the last 24 hours, crypto markets have experienced another very sharp drop, even below 15% or more. The only exception are some USD-bound stablecoins, which show slight growth (USDT, USDC, PAX, TUSD, DAI). Investors are now converting their altcoins and bitcoins into stablecoins. Bitcoin has fallen by more than 25% and is still continuing to fall, such a slump is enormous even for very volatile cryptocurrencies.

 

You can monitor the current cryptocurrency prices – here.

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Cryptocurrency

 

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Cryptocurrency exchanges, Banks

 

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Blockchain, Technology

 

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Whales allegedly manipulate the BTC price to get it under $ 6,000

 

According to some analysts, today’s free fall of the BTC is due to price manipulation by whales, which wants to get below $ 6,000, before the next bullish market, of course except for concerns about the global economic recession and the collapsing traditional financial markets.

 

@SinkTrader has reminded the community of the current global market recession with the coronavirus narrative as a major trigger. He believes crypto whales are pushing the Bitcoin price down to $6,000 in order to buy the dip before the next bull market breaks out.
 

 

Others point out that this is the first time that crypto markets operate at a time of sharp decline in global financial markets and panic sales, and it is difficult to predict how BTC will behave.

 

 

Mati Greenspan went all-in to Bitcoin, selling all the altcoins

 

Mr. Greenspan admitted that he moved all of the assets he operates via the EToro trading platform to only one asset – Bitcoin (BTC). According to his statement, he made this decision due to the end of the ‘altcoin season’ and in lieu of the coronavirus pandemic.

 

More details

 

Kraken starts trading with fiat currencies

 

Kraken will offer nine trading pairs, primarily between the most popular and active fiat currencies. The pairs include USD/GBP, EUR/USD, and EUR/JPY. The fees will be competitive, and based on those of its stablecoins when traded against cryptocurrencies. Margin trading will not be offered, although Kraken does enable it on its crypto platform. The exchange has not said if it plans to open it in the future, which is relevant as most forex traders do so on margin. Kraken says that it plans to launch more fiat pairs at a later date. 

 

The exchange will offer the trading on its global platform, but will block the United States. It is unlikely that the U.S. ban will remain in place permanently, as Americans represent the largest share of forex traders. Although it does not appear that Kraken is offering anything unique to the forex space, its team appears to put together a solid, competitive service.
More details.

 

CME will close its trading center due to coronavirus on Friday

 

CME Group, the U.S. firm which launched Bitcoin futures in late 2017, plans to close its trading floor in Chicago. The derivatives exchange, which facilitates the trading of contracts tied to oil, agriculture products and U.S. stocks, said it made the decision as a precaution due to the spread of coronavirus. In a statement the exchange group said:

 

“No coronavirus cases have been reported on the trading floor or in the Chicago Board of Trade building. The reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available.” More details.

 

FarmVille creators launch Gala game platform on blockchain

 

The creator of the popular Facebook game FarmVille, Eric Schiermeye, has transitioned to the blockchain gaming industry. Blockchain Game Partners, for which Schiermeyer is the founder and CEO, has announced that it is developing a blockchain-based gaming platform dubbed the Gala Network. The platform seeks to cater to the innovation of developers, and will afford players full ownership over blockchain-based in-game items represented as non-fungible tokens. The items will be usable across multiple games built on the Gala Network. 

 

“Just like networked games and social games, I believe that blockchain games are the next evolution in gaming. Pretty soon, nobody will play a game that is a black hole of time and money, if they have good alternatives that allow the player to retain ownership of their time and money.” More details

 

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