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$600 mln in BTC Longs Erased, Binance Adds Ethereum’s L2, Barca Cancels NFT Initiative: GetBlock's Day in Crypto #10



November 20, 2021

3 min read

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Crypto capitalization plummets to multi-week lows, Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) bulls suffer the most.

Since Nov.15, Bitcoin (BTC) bulls lost $600 mln in liquidations

According to the independent analytical dashboard Coinglass (previously Bybt), almost $600 mln in long positions of Bitcoin (BTC) traders were erased since the start of the ongoing wave of crypto markets correction.

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Image by CoinGlass

Session of Nov.15 was the most painful for bears: almost $250 mln in long positions were liquidated in almost no time. Yesterday, more than $200 mln in BTC longs disappeared due to expanding correction.

Largest single order was liquidated on BitMEX: a Bitcoin (BTC) bull saw his $7.2 mln long erased by a brutal sell-off.

In the last 24 hours, $300 mln in Bitcoin (BTC) positions, $134 million in Ether (ETH) positions, and, most surprisingly, $27,5 mln in Sandbox (SAND) and Decentraland (MANA) positions were liquidated.

Yesterday, on Nov.18, Bitcoin (BTC) touched the local bottom at $55,600, down 20% from recently registered all-times-high.

Ethereum’s L2 solution Arbitrum One integrated by Binance

Today, on Nov.19, 2021, Binance, a largest centralized cryptocurrency exchange, integrated Arbitrum One, an Ethereum L2 scalability solution.

Why is this crucial?

With Ethereum’s Arbitrum, all deposits of ERC-20 (‘Ethereum-like’) tokens can now be confirmed in resource-efficient and nearly-instant manner. In a nutshell, when using Binance, you will pay less when depositing your tokens on Ethereum (ETH) blockchain.

In the near future, the opportunity to transfer value through Arbitrum One, will be enabled for Ether itself.

Also, very soon, users will be able to choose Arbitrum as a withdrawal network in the list of networks in the ‘Deposits/Withdrawals’ module alongside with Bitcoin, ERC-20, BEP-20, TRC-20, Solana and other networks.

By press time, a new option is activated in testing mode.

Legendary FC Barcelona stops crypto partnership

According to the official statement released by the representatives of iconic FC Barcelona, it terminates the contract with crypto start-up Ownix. The contract included minting and distributing a drop of Barca-themed non-fungible tokens.

As per the statement released on the official website, the cancellation should be attributed to the news about the entrepreneurs behind Ownix:

In light of information received today that goes against the Club's values, FC Barcelona hereby communicated the cancellation of the contract to create and market NFT digital assets with Ownix with immediate effect.

Yesterday, on Nov.18, 2021 an infamous crypto mogul Moshe Hogeg was arrested in Israel. Being head of Sirin Labs startup behind the fraudulent ICO Stox, he is accused of misleading investors, theft, money laundering and sexual assault against minors.

Mr. Hogeg was one of 7 arrested owners of Ownix, so it is highly likely that Barca's decision is associated with his criminal case.



November 20, 2021

3 min read