Poloniex loses 16% of lending pool – June 7

📈 30 Second Price Summary

Current Bitcoin Price$7956

Overall, the cryptocurrency market is up about 4% today. Bitcoin is up 3%; Ethereum is up 2%; and XRP is up 7%. Litecoin, which is one of few coins in the green over the last 7 days, is up a further 12% on gains it saw yesterday. Further afield, most coins are up in the 2% to 6% range.

Top Stories for 7th June 2019 🔥

👉 Poloniex loses 16% of lending pool

Poloniex is a relatively well-established cryptocurrency exchange that offers margin trading functionality. Users with spare Bitcoin sitting around can lend their coins to the trading pool which other traders than borrow from as leverage.

Due to a severe price crash in the CLAM market last month, leveraged traders were not liquidated as quick as they should have been. As a result, 1800 BTC were lost from Poloniex’s trading pool, which has forced them to reduce the principal of all active loans by 16%.

👉 $100 million fund opens with bull bias

There are a growing number of investment funds dedicated to cryptocurrencies. With many wealthy investors afraid to get their hands on coins themselves, these funds provide a custody service in addition to some amounts of swing trading.

A new $100 million cryptocurrency fund, Darma Capital, has just been opened with a 10 year bull bias. The major investment they’re looking to make is in Ethereum, for which they still hope to maximize profits with some swing trading.

👉 Brave adding tip functionality to Reddit

Brave has been taking the internet by storm recently, adding its tipping functionality to hundreds of online publishers. Now, they’re after forums.

Brave has been working on adding its tipping functionality to Reddit, in addition to a Reddit account verification process for users of the browser.

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