Bitcoin Flash Crashed to $8,200 on Binance.US Crypto Exchange

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC) has been retracing from its all-time highs after crossing the $66,000 threshold on Wednesday, but today, it plunged to the $8,200 level on Binance.US, a cryptocurrency exchange, after a flash-crash witnessed in a matter of seconds. However, it is not clear if it was a market manipulation or a system glitch from the exchange.

Still, other exchanges like Kraken posted some abnormal and sudden declines in BTC prices, as it too fell to $54,000 before recovering quickly. In addition, social media users spread screenshots of the sudden flash crash seen in Binance.US, with some complaining about losses resulting from the suspected technical issue on the platform.

Yesterday, Bitcoin traded around $67,106. Additionally, the Altcoins Altcoins Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Altcoin is a term that describes any cryptocurrency that isn’t Bitcoin. Since Bitcoin’s inception there have been countless cryptos launched. Many of these have met varying levels of success, though several have risen to rival Bitcoin itself.Ether, XRP, Stellar, Monero, Ada, and Dash are a few examples of the more popular altcoins. There presently exist over 5,000 altcoins and this number seemingly grows constantly. The paramount altcoins as of May 2020 are Ethereum and Ripple.In terms of struct Read this Term sphere was favored by the green mood seen across majors, such as Cardano (ADA), which rallied by over 3.65%. Though, Chainlink (LINK) was hovering around $27.20. Moreover, Meme coin Dogecoin (DOGE) soared by over 2.53%, while Litecoin (LTC) saw astonishing gains after rallying over 8.97% in the last 24 hours.

Recent Bitcoin On-Chain Metrics

As of Monday, Finance Magnates reported that the number of large Bitcoin addresses has risen by a significant margin since September 2021 began. According to data published by Santiment in the past five weeks, the number of addresses holding between 100 and 1,000 bitcoins increased by about 2%.

Accordingly, there are 254 more Bitcoin millionaire accounts today than at the start of September 2021. This is primarily due to a growing interest from institutions. Glassnode, one of the leading on-chain analysis firms, estimates that more than 99% of the BTC supply is now in profit. The world’s most dominant crypto asset is expected to be held for the next few years by long-term investors. Apart from the latest jump in the profitability of BTC’s supply, its option volume and open interest jumped significantly during the first two weeks of October 2021.