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Crypto News
According to CoinGlass, the massive price drop resulted in the largest liquidation in the history of the crypto market – about $2.27bn. ByBit estimates the figure to be significantly higher – at least $8bn. On that exchange alone, daily liquidations reached $2.1bn.
According to CoinShares, global investments in crypto funds last week totalled $527 million. Investments in Bitcoin increased by $486 million, in XRP – by $15 million, in Solana – by $5 million, in Ethereum – it decreased by $0.3 million.
XRP is now the second-best performing altcoin, having received YTD inflows of $105 million.
MicroStrategy paused Bitcoin purchases last week, breaking a streak of 12 weeks of continuous buying. The company holds 471,107 BTC on its balance sheet, purchased at an average price of $64,511 per coin.
On 3 February, the ‘kimchi premium’ on Bitcoin – a measure of overpricing on South Korean cryptocurrency exchanges – hit a three-year high above 11.9%. Normally, the figure does not exceed 5%.
According to Reuters, India is reconsidering its attitude towards digital assets amid a transformation in how they are perceived in other countries.
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