BTC Long Liquidations Hit 8-Month High As Price Tumbles – August 19

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$21,469

Bitcoin price has fallen a significant 7.5% overnight, currently sitting in the $21,000s as the market anticipates its next move.

Top-20 altcoins have also taken a large hit, as Ethereum drops 9%, BNB falls 7% and Dogecoin tumbles 15%.

Top Stories for August 19, 2022 🔥

👉 BTC Long Liquidations Hit 8-Month High As Price Tumbles

Bitcoin long position liquidations on futures contracts have hit an eight-month high as price tumbles, according to analytics firm Glassnode.

$551 million in crypto derivatives positions were liquidated in total, more than $203 million of which were exclusively Bitcoin positions. Ether futures positions weren’t far behind, with $140 million in ETH liquidations.

👉 South African Financial Institutions Permitted To Serve Crypto Clients

The South African Reserve Bank has given the green light to financial institutions to serve cryptocurrency-based clients, saying that there should not be a blanket-ban on the sector.

Banks are now permitted to provide banking for crypto asset service providers, as well as assist in providing fiat gateways in and out of the crypto ecosystem. Some local banks had previously shut down all accounts related to cryptocurrency exchanges and business, in an attempt to mitigate risk.

👉 Tether’s New Disclosures Show Increase In T-Bills, Decrease In Commercial Paper

A new quarterly attestation of Tether’s stablecoin reserves, prepared by accounting firm BDO, has shown a $28.9 billion holding in Treasury Bill holdings by the company.

Tether has also managed to reduce its commercial paper holdings by a significant 58% according to the report, with the figure dropping from $20 billion to $8.5 billion.