Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, on Feb 14, 2018.SINGAPORE/HONG KONG — Cryptocurrencies nursed large losses on Friday , with bitcoin trading near $30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets.
"I don't think the worst is over," said Scottie Siu, investment director of Axion Global Asset Management, a Hong Kong based firm that runs a crypto index fund."I think there is more downside in the coming days. I think what we need to see is the open interest collapse a lot more, so the speculators are really out of it, and that's when I think the market will stabilise.
These are tokens pegged to the value of traditional assets, often the US dollar, and are the main medium for moving money between cryptocurrencies or to convert balances to fiat cash. But Tether is likely to face further tests if traders keep selling, and analysts are concerned that stress could spill over into money markets if pressure forces more and more liquidation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin eyes record losing streak as 'stablecoin' collapse crushes cryptoSINGAPORE: Cryptocurrencies nursed large losses on Friday (May 13), with bitcoin pinned below US$30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets. Crypto assets have also been swept up in broad selling of risky investments on worries abo Thank God crypto and bitcoin are two very different things.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bitcoin eyes record losing streak as 'stablecoin' collapse crushes cryptoSINGAPORE : Cryptocurrencies nursed large losses on Friday, with bitcoin pinned below $30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets.Crypto assets have also been swept up in broad selling of risky investments on worries about high in
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Nomura offers its first bitcoin derivatives, just as crypto markets tumbleHONG KONG : Nomura has begun offering bitcoin over-the-counter derivatives to clients, it said Friday, the latest move by a traditional financial institution into the cryptocurrency industry, even as markets are in turmoil. The trades, executed on the CME by crypto asset trading firm Cumberland DRW this w Gaining like crazy at the moment.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bitcoin eyes record losing streak as 'stablecoin' collapse crushes cryptoSINGAPORE : Cryptocurrencies nursed large losses on Friday, with bitcoin pinned below $30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets.Crypto assets have also been swept up in broad selling of risky investments on worries about high in
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bitcoin eyes record losing streak as 'stablecoin' collapse crushes cryptoSINGAPORE: Cryptocurrencies nursed large losses on Friday (May 13), with bitcoin pinned below US$30,000 and set for a record losing streak as the collapse of TerraUSD, a so-called stablecoin, rippled through markets. Crypto assets have also been swept up in broad selling of risky investments on worries abo Thank God crypto and bitcoin are two very different things.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »