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Over $150M in Longs Liquidated on Bitmex in Less Than Two Hours

June G. Bauer

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Cryptocurrency leverage trading is extremely dangerous, traders who choose to do leverage trading should employ rigorous risk management to their futures trading programs, otherwise they may lose all of their investment and get liquidated. Furthermore, studies have shown that as many as 90% of futures traders lose money, so you should never trade futures with capital you cannot afford to lose.

BitMex Liquidation

As shown on the above screenshot, Over $150M in longs was liquidated on Bitmex in less than two hours because of the recent BTC price downside.

Cryptocurrency futures trading is often characterized as being similar to gambling or betting horses for a living. There’s no denying that active trading involves risk and potential capital loss. Sometimes Trading is considered gambling because most people don’t understand it and most traders don’t profit from it. The truth is that you are risking something of value in an attempt to make money.

Pop cultureaholic, Technology expert, Web fanatic and a Social media geek. If you have any questions or comments please feel free to email her at [email protected] or contact her on Twitter @JuneTBauer1

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Exchanges

STEX Exchange Adds Indian Rupee

Sying Tien

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STEX Exchange Adds Indian Rupee

The Estonian cryptocurrency exchange, STEX, has added support to Indian Rupee payments within its platform. Users will be able to perchance cryptocurrency for INR – Indian Rupee with using VISA or Mastercard.

STEX exchange is a centralized cryptocurrency exchange that was founded by Vadym Kurylovych and launched in September 2017. The exchange located in Tallinn, Estonia. The exchange It supports crypto-to-crypto and fiat-to-crypto trading with no withdrawal limits.

Estonia is also one of the few countries that have a specific license issued for cryptocurrency exchanges, with simple company setup procedures and favorable taxation.

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Altcoins

ARK Price Jumps 48% After Binance’s Announcement

June G. Bauer

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ARK Price Jumps

Binance, the world’s largest cryptocurrency exchange, has officially enabled ARK staking on its exchange platform. Users can earn passive income by just holding at least 5 ARK coins on their exchange wallets.

Following Binanace’s announcement, the value of the cryptocurrency ARK coin rose by 48 percent last night. At the time of writing, ARK coin is worth $0.214, giving it a $25.8 million market cap.

Ark is one of the most ambitious solid projects in the crypto space. Ark is an all-in-one blockchain platform that aims to create an entire ecosystem of linked chains and a virtual spider web of endless use cases that make ARK highly flexible, adaptable, and scalable.

What is Crypto Staking?

In practice, staking allows customers to earn what is essentially interest on any cryptocurrency they hold, rewarding HODLers with a stream of passive income.

Currently, Binance supports staking for several PoS (Proof of Stake) coins, including Stellar (XLM), Algorand (ALGO), NEO (GAS), Ontology (ONG), VeChain (VTHO), Tron (BTT), Komodo (KMD), Stratis (STRAT), and Qtum (QTUM).

ARK/USD Price

*Charts are provided by cryptocompare.com

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Exchanges

ShapeShift Acquires Portis Wallet

Sying Tien

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ShapeShift-Buys-Portis-Wallet

Switzerland-based crypto exchange ShapeShift has acquired Portis crypto wallet for an undisclosed sum.

According to the acquisition announcement, all ShapeShift users will be able to log in to most leading Web3 applications like OpenSea, Augur, and Uniswap and will be able to get access to commission-free coin conversions on all major chains (not just Ethereum and ERC-20 tokens), and super fast fiat-to-crypto via a debit card.

Portis, an Israeli startup that offers a non-custodial web3 provider offered as an SDK to developers. It was was founded in May 2018 by CEO Tom Teman and Itay Radotzki and has developed a crypto wallet app (DApps) based on the blockchain of ethereum.

Last November, ShapeShift has integrated Portis wallet so Users can gain access to the exchange’s end-to-end encryption architecture, which would give users full control over their private crypto keys.

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