Due to Vitalik Buterin selling SHIK yesterday, a SmartMoney made ~96ETH ($150K)
1/ Due to #VitalikButerin selling $SHIK yesterday, a SmartMoney made ~96ETH ($150K) with 14 $ETH on $SHIK, and an arbitrageur made 89.6 $ETH ($140K) with 6 $ETH on $SHIK.
— Lookonchain (@lookonchain) March 8, 2023
How did they do it?? pic.twitter.com/DieIqBMBDc
2/ The price of $SHIK plummeted nearly 80% after #VitalikButerin sold 500T $SHIK.
— Lookonchain (@lookonchain) March 8, 2023
The SmartMoney and arbitrageur noticed this sell-off and immediately bought $SHIK at very low prices, then sell. pic.twitter.com/cIZ6UFxmQ8
3/ The SmartMoney bought 34.2 T $SHIK with 14 $ETH immediately after noticing it.
— Lookonchain (@lookonchain) March 8, 2023
Then:
– Sold 12.2T $SHIK for 38.36 $ETH;
– Sold 10T $SHIK for 26.24 $ETH via address"0xaBB6";
– Transferred 10T $SHIK(~26 $ETH);
– Currently holds 2T $SHIK(~6 $ETH).https://t.co/7c7lSJSzAe pic.twitter.com/J6VqoDWlTj
4/ The arbitrageur bought 38T $SHIK with 6 $ETH and sold 38T $SHIK for 89.6 $ETH.https://t.co/DtBB9sXKux pic.twitter.com/dIWruhkwXu
— Lookonchain (@lookonchain) March 8, 2023
USD market depth has dropped almost as much as BUSD’s in the past month
?USD market depth has dropped almost as much as BUSD's in the past month?
— Kaiko (@KaikoData) March 8, 2023
After the BUSD news, liquidity for its top pairs dropped more than 40% before recovering.
Meanwhile, the Silvergate news IS weighing on USD pairs.
But not all exchanges are reacting the same ⬇️ pic.twitter.com/hWzoCygzlC
For $ADA $MATIC $DOGE $SOL and $DOT, all exchanges have lost more than 15% of market depth, with Coinbase faring the best, losing just 14% while Kraken and Bybit each lost 17%.
— Kaiko (@KaikoData) March 8, 2023
Binance and https://t.co/pup2WYms9R registered a similar drop of around 20%.
Huobi has lost 35%. pic.twitter.com/MCE1Uwrlsy
On the token level, $DOT has actually become more liquid while BTC and ETH are slightly negative. $MATIC is right in the middle, losing 13%. $ADA $SOL and $DOGE all lost more than 20%. pic.twitter.com/qzIzTGCHwe
— Kaiko (@KaikoData) March 8, 2023
Coinbase: It’s time to update the system
It’s time to update the system. If you’re wondering why, and you don’t have a copy of our ad in today’s @washingtonpost, read on.?? pic.twitter.com/JKTiGxHCKD
— Coinbase (@coinbase) March 8, 2023
2/ American financial institutions are an essential part of the traditional finance system, but they rely on outdated technology invented before the internet that isn't serving them or their customers. Crypto can help.
— Coinbase (@coinbase) March 8, 2023
3/ As the system deteriorates, people all around the world pay the price. Crypto has more than 400 million users worldwide because it offers real technology solutions. If crypto users were a country, they would be the third largest nation by population in the world.
— Coinbase (@coinbase) March 8, 2023
3/ As the system deteriorates, people all around the world pay the price. Crypto has more than 400 million users worldwide because it offers real technology solutions. If crypto users were a country, they would be the third largest nation by population in the world.
— Coinbase (@coinbase) March 8, 2023
4/ 66% of crypto users live in the developing world, often in places where the current system fails to meet their needs. In the US, 14.1% of households are underbanked and can face high fees to use their own money. Crypto offers people a way to participate in the global economy.
— Coinbase (@coinbase) March 8, 2023
6/ Crypto remittances from the US to Mexico exceeded $1 billion in the first half of 2022. Crypto is efficient and nearly instantaneous, whereas overseas wire transfers are slow and expensive.
— Coinbase (@coinbase) March 8, 2023
7/ Crypto makes money portable. At the beginning of the war in Ukraine, banks shut down and ATMs ran out of cash. Crypto was one of the only ways for refugees to access their funds outside of the country. Crypto is 24/7 and always with you.
— Coinbase (@coinbase) March 8, 2023
8/ The fastest, cheapest way to receive humanitarian aid is through crypto wallets. Nonprofits are moving donations directly to recipients without middlemen taking cuts and slowing things down. $70 million worth of crypto has already been delivered to Ukrainians in need.
— Coinbase (@coinbase) March 8, 2023
9/ Widespread crypto adoption has begun, and the countries creating common sense legislation are positioned to become industry leaders. Many are enacting regulations aimed at protecting users while enabling innovation, including the UK, EU, and Japan. America should do the same.
— Coinbase (@coinbase) March 8, 2023
10/ Crypto isn’t going anywhere. But whether America will be a global leader remains to be seen. Crypto technology can help update our aging financial infrastructure, giving American customers more financial freedom and institutions new tools to drive innovation.
— Coinbase (@coinbase) March 8, 2023
11/ While some crypto companies went offshore to avoid US law, Coinbase decided to build in the US and push innovation within existing regulations. Coinbase is committed to being part of the solution to update our financial system.
— Coinbase (@coinbase) March 8, 2023
? https://t.co/yX4P2gJEBs
