Cryptocurrencies weaken noticeably for the second consecutive day. Investors are concerned about the stability of the entire industry, as well as the financial condition of the FTX exchange, even as rival Binance wants to take control. According to data from the specialized website CoinDesk, the most famous cryptocurrency bitcon lost more than ten percent to $ 17,640 (about 427,000 crowns) after noon.
Significant losses were recorded by cryptocurrencies as early as Tuesday. That day was the worst for Bitcoin since mid-August. The second largest cryptocurrency ethereum it was down nearly 19% to $ 1,202 by noon on Wednesday.
Cryptocurrency giant On Tuesday, Binance signed a non-binding agreement to acquire the non-US unit FTX, to help cover the lack of liquidity on a competing exchange. The proposed deal between the high-profile rivals follows weeks of FTX financial health speculation, fueled over the weekend by Binance CEO Chinese-Canadian Changpeng Zhao.
Withdrawals from FTX jumped to $ 6 billion (NOK 145 billion) in the 72 hours leading up to Tuesday’s deal. This has raised questions about the solvency of one of the largest cryptocurrency exchanges in the world. FTX and Binance have not disclosed the terms of their deal, and the markets are facing renewed uncertainty over whether it will pay off.
FTT’s native coin, which is traded on FTX, wiped out 72% of its value on Tuesday. Today it is increasing its losses, again losing over 70 percent, according to data from the Coinnmarketcap website.
Massacre of portfolio investments. It’s hard to make money this year
An honorable exception is the dollar, on the growth of which investors could earn nearly 20 percent. The goods also behaved erratically. If not, traditional investment vehicles are failing this year and the first nine months of the year represented the fourth worst start of the year in a century, wealth managers said at the Investment Outlook conference.
Ethereum has completed a software update. Power consumption will decrease by 2000 times
Blockchain Ethereum has completed a major software update, its creator and co-founder Vitalik Buterin announced on Twitter. The goal of the update, denoted by the English word merge, is to significantly reduce energy consumption. It will fall 99.95 percent, Buterin said.
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All about inflation
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