29/04/2022 ApeCoin Futures See $36M in Liquidations After Volatile Trading
The tokens surged and sank as new features in the Bored Ape Yacht Club ecosystem went live.
Futures tracking ApeCoinâs APE tokens lost about $36 million in liquidations during a volatile 24 hours,data show.
- Liquidations in the crypto market occur when a trader has insufficient funds to fund a margin call, which is when an exchange asks for extra collateral to keep the trading position funded.
- APE prices jumped to more than $27.50 on Thursday evening from $19 on Wednesday, before profit-taking saw the tokens decline to as low as $20.48 in Asian morning hours on Friday. Such movement occurred in an otherwise little-changed crypto market, with bitcoin and ether moving just 2% in the past 24 hours.
APE tokens saw volatile trading in the past 24 hours. (TradingView)
- APE has more than doubled from mid-April's levels around $11, with the volatility leading to an increase in trading volume on the token's futures. Liquidations have increased in parallel: APE futures have racked up millions of dollars in losses âhigher than usualâ for their traders several times in the past weeks.
- Thursdayâs volatility came as virtual pockets of landwent on saleon the popular Bored Ape Yacht Club (BAYC) ecosystem,confirming rumorsfrom last week. The land was sold exclusively for APE through aDutch auction, which probably drove APE prices up.
- Most of the liquidations on APE in the past hours arose from short traders, or those betting against higher prices. Some $24.88 million worth of shorts were liquidated, data show, compared with $11 million in longs.
- Crypto exchange OKX saw $10 million in liquidations, the most among all exchanges, followed by Binance at $9 million and Bybit at $7.98 million.
- The higher-than-usual liquidation activity on APE was comparable to $37 million on ether futures, making them one of the most traded crypto futures in the past 24 hours. Bitcoin futures, however, continued to lead with in excess of $66.29 million.
Arts
(0)
(0)
Interesting NFTs
The Harvest
An anthropomorphic figure stands, wide eyed, staring at the viewer; its body masculine, muscular, and humanoid. Its âmindâ dissociates into a conglomerate of structures resembling feathers, grain, teethâas well as a radial flower ânodeâ, casting linear rays throughout the composition.
To his left, a vat of bodies gesture and writhe in a kind of amniotic soup, attended by a video game robot. The bot's red display reads âuWuâ.
Behind the robot and filling the left side of the composition is an archaic figure composed of a variety of vintage objects and symbols. Among them are a hardbound book with ancient cuneiform scripts, indicating barley, beer, bread, ox, house, and sky, behind which is a grimacing, salivating jagged toothed maw; and an old Commodore floppy drive. The figureâs head tilts toward an illuminated crescent moon, suggesting the Egyptian Sacred Bull.
The archaic figure is composed of a variety of mutating cells, which shift in color, and pattern; eventually breaking free into an ephemeral broadcast of bubbles which move across the background.
The work came into being against a psychological introspection, which included associations to pop culture such as alien abduction and pod people, as well as quite a bit of reflection on grains as a symbol of civilization, agriculture, sustenance, life, and imbibing (mainly whiskies).
CryptoPunk #7804
The CryptoPunks are 10,000 uniquely generated characters. No two are exactly alike, and each one of them can be officially owned by a single person on the Ethereum blockchain. Originally, they could be claimed for free by anybody with an Ethereum wallet, but all 10,000 were quickly claimed. Now they must be purchased from someone via the marketplace that's also embedded in the blockchain.
Barbarian Vest
The real armor was all the pent up rage you made along the way.
The Blockchain
Symbiotic crypto-currency relationships
Childhood #3
Don't you dare look back.