$300M In Futures Positions Liquidated As Volatility Increases – December 28

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $49,296

Bitcoin price has tumbled back down to the $49,000 range, after a strong rejection from $52,000 over the Christmas break.

Top-20 altcoins are mostly down over the last 24 hours of trading, as Ethereum falls 4%, Terra drops 6% and Binance Coin stands out with a 1% gain.

Top Stories for December 24, 2021 πŸ”₯

πŸ‘‰ $300M In Futures Positions Liquidated As Volatility Increases

$300 million in crypto futures positions have been liquidated following an increase in market volatility, 80% of which were long positions.

More than 109,000 positions were taken out over the last 24 hours, as Bitcoin fell $3,000 in a short time span. Aside from Bitcoin, positions in Ethereum, Solana and Terra also had considerable amounts of liquidations.

Binance and FTX accounted for almost two-thirds of all liquidated positions.

πŸ‘‰ Terra’s UST Stablecoin Reaches $10 Billion Market Cap

UST, a cryptocurrency-backed stablecoin on the Terra blockchain, has reached a $10 billion market cap following major success in decentralized finance (DeFi). The stablecoin began the year at under $200 million in overall value.

Terra’s native LUNA token has also observed tremendous success during 2021, reaching a total circulating market cap of $34 billion – a 15-times increase over the year.

πŸ‘‰ Kraken Exchange To Launch NFT-Backed Loans

Prominent cryptocurrency exchange Kraken has announced that its NFT platform will provide custody services for NFTs, as well as. support NFTs as collateral for loans.

The platform itself was announced halfway through December and follows in the footsteps of Coinbase, FTX and Binance, who are all launching (or have launched) NFT marketplaces.