POKKET: Today’s Crypto Market Commentary (April 19)
Bitcoin price is -6.9% to $56900 after a flash crash yesterday which had BTC touching $50931 at its lowest. ETH is -6% to trade $2250 after briefly dipping to $1946 yesterday. Movers are SNM +17%, YFI +12%, GTO DODO -19%, YFII -18%, OGN -17%, PNT -16%, and the rest follow in Pokket listed tokens.
Charts suggest the move was led on Binance futures which snowballed and led to heavy traffic to jam executions. Bitcoin mining hash rates plummeted prior to the crash as well, as a part of China went dark and mining rigs were pulled offline. The kimchi spread is at a healthy +15% even after the moves.
The deputy governor of Central Bank of China has said crypto assets such as Bitcoin should be used as investment options, as it’s not a currency. He also said China is studying crypto regulations and non-state stablecoins should be strictly regulated.
Brian Armstrong of Coinbase sold $290M worth of shares on opening day of $COIN.
In NFT world, NBA Top Shot’s Dapper Labs is raising funds again, this time at a $7.5B valuation.
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