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What turbocharged this week's crazy cryptocurrency meltdown?


What turbocharged this week’s crazy cryptocurrency meltdown?
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Last Updated: May 20, 2021, 02:54 PM IST
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Bitcoin dropped as much as 31% Wednesday to near $30,000, and Ether was 44% down at less than $2,000 at one stage. While both have recouped some of the losses, those crashes spread plenty of pain across crypto assets.
Reuters
“What causes such deeper pullbacks are a case of system overload, liquidations, and such factors,” said Vijay Ayyar, head of Asia Pacific at Luno Pte.
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Liquidations and leverage appear to have turbocharged this week’s cryptocurrency meltdown.
Bitcoin dropped as much as 31% Wednesday to near $30,000, and Ether was 44% down at less than $2,000 at one stage. While both have recouped some of the losses, those crashes spread plenty of pain across crypto assets. There were $9.4 billion of liquidations in the 24 hours through 9 a.m. Thursday in Singapore, as more than 887,000 traders liq ....

Nifty Track , Economic Times News App , Daily Market Updates , Live Business , Asia Pacific , System Overload , Cryptocurrency Meltdown , நிஃப்டி டிராக் , பொருளாதார முறை செய்தி செயலி , தினசரி சந்தை புதுப்பிப்புகள் , வாழ வணிக , ஆசியா பெஸிஃபிக் , அமைப்பு ஓவர்‌லோட் ,

Creating synergy


Creating synergy
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Laurent Bili, French ambassador to China.[Photo provided to China Daily]
French cultural festival in China resumes with an eclectic repertoire of events in 14 cities, Cheng Yuezhu reports.
Festival Croisements returns this year with an eclectic repertoire of events from the fields of music, drama, visual arts, cinema, dance, books and fashion.
Organized by the French embassy in China and Institut Francais, the festival, after a year of suspension due to the COVID-19 outbreak, began on April 21. It runs through July 31, with some 78 events being hosted in 14 cities in China, including Beijing, Shanghai, Chengdu in Sichuan province and Wuhan in Hubei province. ....

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Drawing on History and Looking to the Future to Advance China-U.S. Relations along the Right Track


By Yang Jiechi |
China Daily |
Updated: 2021-04-29 09:54
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Chinese and U.S. players participate in a friendly ping-pong match in Shanghai on April 10. That day was the 50th anniversary of China-U.S. Ping-Pong Diplomacy. [GAO ERQIANG/CHINA DAILY]
In Commemoration of the 50th Anniversary of China-U.S. Ping-Pong Diplomacy
Yang Jiechi
I
This year marks the 50th anniversary of China-U.S. Ping-Pong diplomacy. In April 1971, the U.S. table tennis team, which was attending the 31st World Table Tennis Championships in Nagoya, Japan, paid a visit to China at the invitation of the Chinese table tennis team. One year later, the Chinese team made a return visit to the United States. During the visits, both teams were warmly welcomed and received by each other s country and people. The two sides enabled the little ball to move the big ball, thus thawing the ice of over two decades of estrang ....

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