Daily News | More Than 220,000 People Were Liquidated Across The Network, The Trump Family Investment Project WLFI Lost $110 Million
Crypto Daily Digest: Sentiment turned to “extreme panic”, WLFI portfolio lost $110 million
ETF: The market is closed over the weekend, and there are no changes in crypto-related ETFs.
Trump family project WLFI portfolio losses reached $110 million
On March 10, according to on-chain analysts, WLFI’s current total portfolio loss has reached $110 million, and its 9 tokens purchased with $336 million in funds now only have $226 million left. Among them, ETH accounts for 65%, which is also the asset with the largest loss. The average cost price of ETH is 3,240, while the current price is only 2,000, with a loss of up to $80.85 million (-37%).
Today’s crypto market sentiment turns to “extreme panic”
On March 10, according to Alternative data, today’s crypto Fear & Greed Index fell to 20 (yesterday’s index was 27), indicating that the market sentiment is “extreme panic”. Rising risk aversion among investors may mean that the market is oversold in the short term. Historically, extreme panic areas are often accompanied by potential short-term buying opportunities.
Opinion: Trader Eugene: Bitcoin‘s $75,000 level is the only focus
On March 10, well-known trader Eugene said that he is not in a hurry to participate in transactions at the current price, and the $75,000 price is the only level that interests him at present.
Market Trends: ETH/BTC exchange rate hit a 4-year low, more than 220,000 people in the network were liquidated
Market Hotspots
On March 10, according to DefiLlama data, Ethereum had a potential on-chain liquidation of $128 million at $1919.266, mainly MakerDAO protocol liquidations, with a scale of $127.8 million.
On March 10, according to Coinglass data, the entire network had a liquidation of $613 million in the past 24 hours, of which long positions were liquidated for $539 million, and the number of people affected by the liquidation was as high as 225,270.
Mainstream Coins
Impacted by the fact that the crypto reserves are lower than expected, the Bitcoin market remains weak. As of press time, the price is $82,300, which has fallen to the low point at the end of February. Combined with the fear index, there may be short-term opportunities. However, investors are reminded to pay attention to their positions and leverage control to cope with the extreme market conditions that fall below the support level of $80,000.
As of press time, Ethereum is priced at $2,050, and the price has returned to the level at the end of 2023. The Ethereum/Bitcoin exchange rate has fallen to 0.025, a 4-year low. The rise of other public chains and the predicament of Ethereum’s technology upgrade are unlikely to change in the short term.
Altcoins generally fell, with each sector falling more than 5% in 24 hours. The previous popular sector concepts represented by AI and DePIN fell sharply, with a drop of more than 9%. Among them, RENDER tokens fell 11% and TAO tokens fell 7.5%.
Macro news: U.S. stock index futures opened lower, crude oil prices fell for 7 consecutive weeks
On Monday, March 10, the Asian market opened, and U.S. stock index futures opened lower collectively, with the S&P 500 index futures falling by more than 1%, and U.S. bond yields falling rapidly. According to CCTV News, on the 9th local time, U.S. President Trump downplayed the recent sharp fluctuations in the stock market caused by his imposition and adjustment of tariffs in an interview, and said that we should not pay too much attention to the stock market.
In an interview with CNBC, the new U.S. Treasury Secretary Benson said that the strong dollar policy has not changed and he is committed to promoting a stronger dollar. He defended the Trump administration’s actions to cut government spending and acknowledged that the economy would be disrupted by this necessary adjustment in the economic course, but he was confident in the policy and believed that as long as the policy was good, it would drive the stock market up.
Oil prices fell to their lowest point since September due to weak Chinese economic data. Brent crude oil prices are close to $70 per barrel, while WTI crude oil prices are below $67 per barrel, marking seven consecutive weeks of decline. China’s consumer inflation rate fell below zero for the first time in 13 months, exacerbating market concerns about crude oil demand. The global trade war, OPEC+’s production increase plan and negotiations on the Russia-Ukraine conflict also had an impact on the decline in oil prices.
