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3 weeks after WorldCoin launched, it's already down 44% even though only 1% of its max supply has been unlocked so far. Current WLD token price means that people who scanned their eyes basically sold their biometric data and privacy for whooping price of $38 - So this dystopian project ... See More by Sam Altman (OpenAi CEO) that has no space in crypto space has been launched around 3 weeks ago. Price at the launch stayed at around $2.7, and later on it settled down at prices around $2.3-$2.6. But now only 3 weeks later price is very sharply down to $1.51 at this given moment.

They have already scanned millions of people all around the world under pretenses of just verifying their digital ID and verifying their humanity, whatever that means. Most of the places that they've scanned people, or better said the locations they preyed on, were mostly rural areas in poorer parts of the world, parts of the world where people are more desperate and few dollars means a lot more to them than others. Most of their orb scans have come from Africa, South America and India.

Kenya already suspended it after hundreds of thousands of people were standing up in lines to receive scan of their eyes and receive 25 of WLD tokens that at the time were worth about $60, but now only $38. It has to be taken into consideration that they only unlocked exactly 1.26% of the supply of the token and fully diluted market cap of this token is still abnormally high at more than 15 billion which would very easily put it into top 5 non-stablecoins (just behind XRP).

People that scanned their irises basically sold their biometrical data and privacy that Sam Altman can sell to whomever or use it however he wants with multiple projects in his AI companies like OpenAI, and all for meager $38, and if they hold for longer, that amount will soon be maybe $20 or $10. Worth it?

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Understanding liquidity and why a sudden $800m drop can tank a 1T market by 10%. - Good morning everyone.

Some of you might be just coming round from your daze after yesterdays market performance. We all checked our phones to find some pretty shocking news.

The thing I always found strange ... See More when I first entered this space and these sorts of events happened was that everything acted instantly, no matter which coin or which exchange. It all followed the same trend without a moments notice. I was also baffled at how much money could technically leave the eco system in such a short amount of time.

The current entire crypto market cap is very roughly 1 trillion dollars. Yesterday saw just short of 1 billion dollars in liquidation. That’s 0.1% of the entire market cap. Yet everything dropped by around 10%.

How?

Well it’s all to do with liquidity. It boils down to this. Let’s say Microstrategy woke up today and wanted to sell all of his Bitcoins. All 150,000 of them. The current price of BTC is $26,000.

He lists all 150,000 for $25,999 on Binance for sale. Immediately he will sell as many coins to as many buyers that have a bid in for $25,999 or more. After that, the sale will pause until buyers come in with that price. It would be a very tiny portion of his coins sold. Probably less than 50.

So he decides to list the remainder for $24,000. And again, orders are filled but not that many in comparison to the amount he holds. BTCs price has now dropped to below $24,000 because there’s no buyers or liquidity at $26,000 anymore. BTC just dropped 10% and microstrategy still has 140,000 BTC.

In reality, the price or market cap of a coin rests solely on its liquidity properties. If there’s only enough money on the table for 1 BTC at $26,000 then it’s going to be a rough ride when someone sells.

Below are some points I’ve made regarding liquidity and what you should understand.


- Liquidity is the measure of how easily an asset can be bought or sold without causing significant price changes. In the cryptocurrency context, it reflects the ability to convert a digital asset into cash or another asset promptly. Liquidity depends on the presence of active buyers and sellers, as well as the depth of the order book.


- Liquidity acts as a measure of market stability. High liquidity implies a balanced number of buyers and sellers, resulting in smoother trade execution and less impact on prices. On the flip side, low liquidity scenarios lead to heightened price volatility. A large trade in a low-liquidity market can result in exaggerated price fluctuations.


- Market volatility, which often puzzles traders, can be attributed to liquidity dynamics. In markets with low liquidity, even small trades can cause significant price shifts. This results in the price volatility that characterizes cryptocurrency markets.


- In markets with high liquidity, large trades can be executed with minimal price impact. Bid-ask spreads remain narrow, ensuring fair pricing for traders. High liquidity also makes it harder to manipulate prices, contributing to a more accurate representation of asset values.


- Low liquidity markets are prone to price manipulation due to the influence of large holders. Executing significant trades in such scenarios can lead to slippage, where the executed price differs from the expected price due to insufficient orders to match against.

In summary, grasping liquidity is crucial for navigating the cryptocurrency landscape. It directly affects stability, volatility, and the trading experience. While high liquidity promotes stability, low liquidity demands caution due to potential price swings and manipulation risks.

It’s a lot to take in and bend your head around but it is the fundamental force of all crypto markets, even BTC with its massive market capitalisation is subject to its underlying importance.

I hope this helps, if you have any other topics you’d like me to cover please let me know! 😊

EDIT: Wow thanks for the upvotes guys. Glad I could be of some help. Remember if you have any suggestions for more topics I’ll certainly do my best. Have a great day everyone!

EDIT 2: 1000 upvotes? You guys are awesome. Thanks again, happy Sunday!

Spain leads the world's cryptocurrency property market: Almost 300 homes are purchasable with Bitcoin or Ethereum in Marbella, Alicante and Barcelona - I’m summarising the article that you can read on The Olive Press:

“Spain is leading the global cryptocurrency property market with nearly 300 homes available for purchase using Bitcoin ... See More or Ethereum. **Forex Suggest's** recent research reveals **Spain's dominance**, followed by **Thailand and Portugal**. These properties average around €2 million in Bitcoin price, making Spain the sixth-most expensive country for cryptocurrency real estate transactions.

Many of these properties are concentrated in Spain's popular tourist destinations like Marbella, Alicante, and Barcelona. However, while cryptocurrency transactions offer advantages such as fee avoidance, their newness and volatility present challenges. Bitcoin's fluctuating prices can impact transaction values.

Despite these hurdles, the appeal of near-**instantaneous payments** is clear, particularly when compatible mortgage providers are available. Spain's strong presence underscores the increasing acceptance of cryptocurrencies in real estate.”

These incredible news about Spain + Portugal’s lenient crypto regulation that’s already been talked about in the sub make me bullish on the Iberian peninsula.

What do you guys think about crypto merging with the housing market? Or merely using crypto as a P2P payment method?

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