In this video, the host provides a roundup of the latest developments in the cryptocurrency market. Bitcoin attempted to sustain a $12,000 price point but crashed down to $10,500 on August 2, leading to $1 billion in liquidations across various crypto derivatives exchanges. The total liquidated positions peaked at $147 million per hour on BitMEX, with open interest in Bitcoin futures dropping significantly. Other cryptocurrencies fell sharply as well, with XRP and Ethereum remaining the only notable exceptions.
Additionally, the video covers Ayondo’s acquisition of a Hong Kong credit company amidst ongoing efforts to stabilize its business after COVID-19 pressures. In July, the Chicago Board Options Exchange reported a decline in trading volumes, with July’s total spot trading volume down 9.3% from June’s levels. Bitcoin miners earned $25 million in commissions during July due to increased transaction volumes.
The video highlights that India and Sri Lanka are particularly vulnerable to cryptocurrency hacks, according to a Microsoft security report. Finally, it reports that the American company CWT paid hackers $4.5 million in Bitcoin following a ransomware attack that affected 30,000 computers. The host encourages viewers to subscribe for more news updates.