Connect with us

Published

on

In the past 24 hours, the cryptocurrency market witnessed significant liquidations of Bitcoin BTC/USD shorts, with over $24 million worth being wiped out, according to the latest data from CoinGlass.

What Happened: The liquidations affected a total of 26,390 traders, resulting in a staggering total liquidation value of $62.00 million.

The largest single liquidation order occurred on the popular cryptocurrency exchange Bitmex, where a position valued at $5.15 million in XBT, the trading symbol for Bitcoin, was liquidated.

Overall, both long and short positions totaling $32 million in Bitcoin were liquidated during this period.

When traders take a short position, they are essentially betting on the price of a cryptocurrency to decrease. In simple terms, they borrow the cryptocurrency, sell it at the current market price, and plan to buy it back later at a lower price, thus profiting from the price difference. Shorting allows traders to profit from downward price movements.

Conversely, when traders take a long position, they are expecting the price of a cryptocurrency to increase. They purchase the cryptocurrency at the current market price with the intention of selling it at a higher price in the future.

Will Musk Embrace DOGE On X? Ask industry experts directly at Benzingas Future of Digital Assets event happening in NYC on Nov. 14, 2023. Be a part of the discussions where you wont just be a passive spectator. Dont let this chance slip away secure early bird discounted tickets now!

See More: A Stay At The Floating Palace From James Bond's Octopussy

Why It Matters: In the midst of these market movements, JPMorgan, the largest bank in the United States based on asset size, revealed that it is in the early stages of developing a blockchain-based digital deposit token for cross-border payments and settlements. The bank has reportedly established most of the necessary underlying infrastructure for the token. However, regulatory approval from U.S. authorities is still pending before the token itself can be launched, as reported by Bloomberg on Friday.

Deposit tokens, as described by JPMorgan, are digital assets that represent transferable deposit claims against a commercial bank.

Photo Courtesy: Bitcoin Photo by 99Art on Shutterstock

Price Action: At the time of writing, BTC was trading at $26,267.75, up 1.42% in the last 24 hours, according to Benzinga Pro.

Read Next: Bitcoin, Ethereum, Dogecoin Spike After JPMorgan Enters Blockchain Deposit Tokens: Analyst Says BTC Is Going Higher Soon

Continue Reading

Sports

Former White Sox pitcher, world champ Jenks dies

Published

on

By

Former White Sox pitcher, world champ Jenks dies

Bobby Jenks, a two-time All-Star pitcher for the Chicago White Sox who was on the roster when the franchise won the 2005 World Series, died Friday in Sintra, Portugal, the team announced.

Jenks, 44, who had been diagnosed with adenocarcinoma, a form of stomach cancer, this year, spent six seasons with the White Sox from 2005 to 2010 and also played for the Boston Red Sox in 2011. The reliever finished his major league career with a 16-20 record, 3.53 ERA and 173 saves.

“We have lost an iconic member of the White Sox family today,” White Sox chairman Jerry Reinsdorf said in a statement. “None of us will ever forget that ninth inning of Game 4 in Houston, all that Bobby did for the 2005 World Series champions and for the entire Sox organization during his time in Chicago. He and his family knew cancer would be his toughest battle, and he will be missed as a husband, father, friend and teammate. He will forever hold a special place in all our hearts.”

After Jenks moved to Portugal last year, he was diagnosed with a deep vein thrombosis in his right calf. That eventually spread into blood clots in his lungs, prompting further testing. He was later diagnosed with adenocarcinoma and began undergoing radiation.

In February, as Jenks was being treated for the illness, the White Sox posted “We stand with you, Bobby” on Instagram, adding in the post that the club was “thinking of Bobby as he is being treated.”

In 2005, as the White Sox ended an 88-year drought en route to the World Series title, Jenks appeared in six postseason games. Chicago went 11-1 in the playoffs, and he earned saves in series-clinching wins in Game 3 of the ALDS at Boston, and Game 4 of the World Series against the Houston Astros.

In 2006, Jenks saved 41 games, and the following year, he posted 40 saves. He also retired 41 consecutive batters in 2007, matching a record for a reliever.

“You play for the love of the game, the joy of it,” Jenks said in his last interview with SoxTV last year. “It’s what I love to do. I [was] playing to be a world champion, and that’s what I wanted to do from the time I picked up a baseball.”

A native of Mission Hills, California, Jenks appeared in 19 games for the Red Sox and was originally drafted by the then-Anaheim Angels in the fifth round of the 2000 draft.

Jenks is survived by his wife, Eleni Tzitzivacos, their two children, Zeno and Kate, and his four children from a prior marriage, Cuma, Nolan, Rylan and Jackson.

The Associated Press contributed to this report.

Continue Reading

Sports

In search of infield options, Yanks add Candelario

Published

on

By

In search of infield options, Yanks add Candelario

NEW YORK — The New York Yankees, digging for options to bolster their infield, have signed third baseman Jeimer Candelario to a minor league contract and assigned him to Triple-A Scranton/Wilkes-Barre, the affiliate announced Saturday.

Candelario, 31, was released by the Cincinnati Reds on June 23, halfway through a three-year, $45 million contract he signed before the start of last season. The decision was made after Candelario posted a .707 OPS in 2024 and batted .113 with a .410 OPS in 22 games for the Reds before going on the injured list in April with a back injury.

The performance was poor enough for Cincinnati to cut him in a move that Reds president of baseball operations Nick Krall described as a sunk cost.

For the Yankees, signing Candelario is a low-cost flier on a player who recorded an .807 OPS just two seasons ago as they seek to find a third baseman to move Jazz Chisholm Jr. to second base, his natural position.

Candelario is the second veteran infielder the Yankees have signed to a minor league contract in the past three days; they agreed to terms with Nicky Lopez on Thursday.

Continue Reading

Sports

Dodgers’ Snell pitches to hitters, ‘looked good’

Published

on

By

Dodgers' Snell pitches to hitters, 'looked good'

LOS ANGELES — Pitchers Blake Snell and Blake Treinen are progressing toward a return for the Los Angeles Dodgers.

Snell and Treinen each faced hitters Saturday, and Snell pitched two innings. Each could begin a rehab assignment after the All-Star break.

The 32-year-old Snell has pitched in two games for the Dodgers following his five-year, $182 million free agent deal after spending last season with the San Francisco Giants and three before that with the San Diego Padres. He is a two-time Cy Young Award winner.

“(Snell) looked good. He looked really good,” manager Dave Roberts said. “I don’t know what the velo was but the ball was coming out really well. He used his entire pitch mix. I thought the delivery was clean, sharp, so really positive day.”

The Dodgers’ starting rotation has been injury-prone this season but is starting to get a boost from Shohei Ohtani, the two-way superstar who is working as an opener in his return from elbow surgery.

Treinen is looking to get back to his role in the back end of the bullpen. He threw one inning Saturday.

“Blake Treinen I thought was really good as well,” Roberts said. “Both those guys should be ready at some point in time shortly after the All-Star break.”

Continue Reading

Trending