In the crypto industry, trends are constantly popping up, trying to steal the spotlight with their distinct use cases and expanding possibilities. Currently, many popular cryptocurrencies like Binance Coin (BNB) and Bitcoin (BTC), have encountered difficulties. As a result of this bad trend, investors are looking for fresh ventures with high prospective returns.
Sparklo is one of these cutting-edge technologies that has caught the curiosity of the cryptocurrency community. It plans to steal and hold the spotlight with its unique investment platform and its benefits.
Danger Looms for Binance Coin (BNB)
Recent reports show that Binance Coin (BNB) may face yet another FUD as open interest on Binance's short side continues to grow substantially. Strangely, this increase in short orders is taking place in the absence of any significant Binance or BNB news or updates, suggesting that the current price movement is not supported by solid fundamentals.
This situation is analogous to the spike in the short volume of Binance Coin (BNB) during March. Hedging techniques against the most recent EDU launchpad mishap might be one cause for the spike in short interest.
The Open Campus (EDU) subscription term is about to expire, according to a recent announcement made by Binance Coin (BNB). Investors may be using shorting Binance Coin (BNB) as a hedging tactic as they attempt to safeguard their investments and lessen any risks connected to the EDU launchpad event. This might account for the unexpected increase of short orders on the Binance platform, despite the lack of any unfavourable information or events affecting Binance Coin (BNB) or the exchange.
Though it is difficult to predict exactly how this rise in short interest will affect Binance Coin (BNB), it is important to closely monitor the market and any relevant news that might affect investor sentiment.
Bitcoin (BTC)'s Unexpected Volatility Destroys $1 Billion in Open Interest
The crypto market saw a huge change on April 26, 2023. Trading positions both long and short were impacted during this period as the market leader Bitcoin (BTC) declined by almost $3,000 in less than three hours.
According to TradingView data, this unanticipated volatility broadened the Bitcoin (BTC) market, wiping out up to $1 billion in open interest and liquidated futures contracts worth up to $175 million in only one day.
Market volatility causes abrupt increases that harm long-term investments. Exchanges and trading platforms occasionally quickly cancel open deals with partially or entirely exhausted margins.
Bitcoin (BTC)'s recent market volatility shot up in both directions. The sudden price drop forced several long positions to be closed. Bitcoin (BTC) rebounded when sell-limit orders were activated, but they later spiked high and were liquidated. The only transactions that were able to endure this sudden volatility of Bitcoin (BTC) were those with high-margin requirements and lengthy risk exposures.
Sparklo (SPRK) in The Spotlight of The Crypto Industry
Sparklo intends to revolutionize precious metals investing by developing a blockchain-based marketplace for acquiring NFTs that reflect gold, silver, and platinum bars. On Sparklo's cutting-edge platform, investors will be able to purchase fractionalized shares of these precious metals, making them more cost-effective and widely accessible.
The team's successful auditing and KYC verification can reassure purchasers or investors of Sparklo (SPRK) tokens. The smart contract also plans to lock away liquidity for 100 days.
The Sparklo pre-sale is still ongoing. This will require 60% of the 1,000,000,000 Sparklo tokens that are being issued. Purchasers will get a 30% bonus on any transaction with a current value of just $0.015. Note that by the end of April, one Sparklo (SPRK) token will cost $0.017.
Find out more about the Sparklo presale:
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