#3 $270.4 million in liquidations as crypto market selloff continues

Bitcoin, Ordinals, and Runes Digest

Jun 12, 2024

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The cryptocurrency market has experienced a notable selloff over the past two days, which has led to a surge in liquidations. The selloff has led to the liquidation of about $270.4 million in leveraged positions over the past 24 hours, according to CoinGlass. A significant portion, $238 million, were long positions. Markets are down heading into Wednesday's double-dose of macroeconomic releases: the monthly Consumer Price Index report and a Federal Reserve monetary policy announcement. Deribit CEO Luuk Strijers told earlier Tuesday that bitcoin is more correlated with risk assets than usual.

Runechain has announced its decision to initiate a significant burn of $RUNIX tokens, amounting to 87% of the total supply. The initial supply was 21 billion (B), with the first burn removing 9.4B tokens and the second burn, which is currently underway, eliminating 8.6B tokens. This reduction results in a new total supply of 2.91B. In tandem with this token burn, Runechain has introduced a new revenue-sharing strategy: 30% will be distributed to Runer holders and 70% will go to $RUNIX holders.

The Opal Protocol, an ecosystem on Bitcoin powered by $BLIF, has recently announced the completion of the second Booster Blifstone snapshot. The final snapshot will be captured shortly after the publication of our tokenomics

Magisat introduced the Runes Mempool marketplace. Basically, you can grab the runes that are pending on other marketplaces. Essentially, you can get every rune cheaper.

UniSat encountered a problem with the indexing of Runes, leading to a temporary suspension of the Runes transfer function for two hours. Once the issue was resolved, the platform resumed normal operations.

Pizza Ninjas reached the lowest number of listed ordinals in its history, presenting only 46, which represents 3% of the total supply.

Search interest in Bitcoin has notably increased in Brazil, Germany, and Turkey, occasionally exceeding that of the United States.

Liquidium has enhanced its user experience, streamlining the navigation process across various batch operations for Rune lending.

RuneX has begun unveiling the OrdiDuel Pack, a social-Fi experiment. Previously, 17,000 packs were distributed to eligible wallets.

Wizardz has completed the public minting of $ORB.