> ## Content Index > Fetch the complete content index at: https://dexplain.com/llms.txt > Use this file to discover other available public pages before exploring further. # Goblin Town? - URL: https://dexplain.com/goblin-town/ - Published: 2021-06-23T17:23:00.000Z - Updated: 2022-11-14T22:05:40.000Z - Description: Bitcoin crashed under $30k yesterday, liquidating 800 million in longs, before seeing a strong bounce. Selling is done? Or down to goblin town? - Author: wizardfromspace - Tags: Ethereum, Bitcoin, Cryptocurrency, Crypto News, Collectibles, Crypto Trading, yield farming, defi Yesterday we saw BTC crash below $30k for the first time since January 2021, liquidating roughly $800 million in longs across major exchanges. Most Altcoins followed suit with double-digit drops across the board. ![](https://dexplain.com/content/images/2021/12/the-blood.webp) Then we saw an impressive recovery from Bitcoin, adding $5,000 in less than a day and is currently trading around $34,000\. Despite the strength and return into the range above $30k, it’s not clear yet if that was the bottom. Two potential scenarios: 1. This is the bounce, that [we discussed on Monday](https://dexplain.com/porky-pies/), a perfect bear trap. A bullish spring, sweeping the yearly open, confirmation of this scenario would be quickly reclaiming the 35-36k level. 2. Consolidation at current levels (the range low) would be a sign of weakness and would indicate another leg down towards 27k. I believe the big monthly options expiry coming on Friday will result in upside pressure, therefore, leaning towards scenario 1\. But as always, make sure you have a plan for both outcomes! ### Looking to buy the dip? Sign up via our referral link for up to **10% disount** on your trading fees! - [Bybit](https://www.bybit.com/en-US/invite?ref=M2YNXG) \- Currently, this is my favourite platform! Great liquidity and bonuses for deposits. - [Delta Exchange](https://www.delta.exchange/app/signup/?code=VVRPEI&ref=dexplain.com) \- Good for a degen account, no KYC required but low liquidity. - [Binance](https://accounts.binance.com/en/register?ref=X8XUVA60) \- Lots and lots of spot altcoin pairs, especially BTC pairs. - [KuCoin](https://www.kucoin.com/ucenter/signup?rcode=r3D6E6L&ref=dexplain.com) \- Great for longer small cap holds. --- ## Crypto News - **Bitcoin**: Whales [are sending their BTC into exchanges](https://twitter.com/ki%5Fyoung%5Fju/status/1407009318336188418?ref=dexplain.com) and appear to be selling heavily, given that stablecoin reserves are going up at the same time. An indicator that the bear market is confirmed. - **Fireblock**: Is being sued [by staking platform StakeHound](https://ourbitcoinnews.com/lost-access-rights-worth-8-billion-yen-worth-of-ethereum-entrusted-or-major-custody-fireblocks-are-sued/?ref=dexplain.com) as the custody company appears to have lost the private keys for 38,178 ETH. An employee deleted the wallet files without backing them up first – just a bad day at the office? - **Morgan Stanley**: Made their first investment into the crypto space, with [$48 million into the blockchain firm Securitize](https://www.theblockcrypto.com/post/109113/morgan-stanley-invests-blockchain-securitize?ref=dexplain.com), which provides tokenization services. - **Israel**: Appears to be planning to use [Ethereum to power a digital version of its currency](https://u.today/ethereum-to-become-basis-for-digital-shekel-bloomberg?ref=dexplain.com) shekel. Wouldn’t be surprised if it turns out to be a private centralized version of Ethereum. --- ## DeFi News - **Raydium**: Announced details of [the next IDO on AcceleRaytor for Synthetify](https://twitter.com/RaydiumProtocol/status/1406462673579962368?ref=dexplain.com), a synthetic asset creation protocol on Solana. Scheduled for June 29th, this time the token sale is happening via lottery tickets. As usual, participants must be staking RAY ahead of time. - **Stable Magnet**: Here is [a high APR farm, over 13,000%](https://stablemagnet.finance/?ref=dexplain.com), to take a look at on [Binance Smart Chain](https://dexplain.com/tag/binance-smart-chain). Provide SMAG-BNB liquidity on Pancakeswap to earn SMAG tokens in rewards. Of course, beware that the price of SMAG will probably be very volatile. - **Blank Wallet**: Announced their first public [release date is scheduled for 28th June](https://blankwallet.medium.com/blank-wallet-release-announcement-6f44d17585f5?ref=dexplain.com), Blank is a fully-fledged DeFi Web 3.0 smart wallet along with privacy pools for anonymous deposits and withdrawals. - **Impossible Finance**: Hackers [were able to steal $500k from the DeFi protocol](https://twitter.com/Mudit%5F%5FGupta/status/1406878176509194246?ref=dexplain.com), using the same exploit as used on BurgerSwap. Developers who fork code need to start following exploits! - **Injective**: Looking for users to test their platform and [complete the Equinox Staking Epic Task](https://twitter.com/InjectiveLabs/status/1407364752129597444?ref=dexplain.com), might earn you some retroactive rewards in the future? - **Bonfida**: You can now register .sol domain names via Bonfida’s registry service. With COPE’s first [blockchain game reaching release date](https://twitter.com/cyrii%5FMM/status/1407413182004707330?ref=dexplain.com), this should spice up the leaderboards. - **Deus**: Tweeted [out a sneak peak of V2](https://twitter.com/DeusDao/status/1407353501135654914?ref=dexplain.com), highlights are referral system, trading incentives, fractional reserve Stablecoin, and Huobi/stablecoin pool. Exciting! - **Apeswap**: The popular DeFi swap protocol on BSC is now live on Polygon also, there are some lucrative yield farming opportunities such as the BANANA-MATIC pair. Can deposit [into Beefy Finance to automatically compound](https://twitter.com/beefyfinance/status/1407339162278240267?ref=dexplain.com), which is currently giving out over 1% daily. - **Ratio Finance**: Upcoming [asset management protocol on Solana](https://twitter.com/RatioFinance?ref=dexplain.com), aims to increase yields through user-governed smart vaults. Scheduled to go live in Q2 2021, users will be able to deposit stablecoins to earn yield and mint RUSD to remain liquid. - **MonoXFinance**: This protocol will launch on Polygon and Solana, should go live in Q3 2021, one to keep your eyes on and research. [MonoX aims to create greater capital efficiency](https://monox.finance/?ref=dexplain.com) by providing liquidity pools with just single side deposits, it does this through the use of virtual pairs. --- ## NFT Spotlight Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio. ![](https://dexplain.com/content/images/2021/12/nightmareland.webp) **Nightmareland** *When night falls in Nightmareland, the ghouls and goblins come out to play. Created using original photogrammetry. Music by Glitch Black.* - Where to bid? [SuperRare](https://superrare.com/artwork-v2/nightmareland-24159?ref=dexplain.com) or [Opensea](https://opensea.io/assets/0xb932a70a57673d89f4acffbe830e8ed7f75fb9e0/24159?ref=0x5cE9f7032953d8E3f3D98f508C1b9B489Ee621D). - Artist: [Glitch Black](https://twitter.com/Glitch%5FBlack?ref=dexplain.com). --- ## NFT News - **Yam Finance**: Launched [uPUNKS](https://twitter.com/YamFinance/status/1407107790083031041?ref=dexplain.com), a synthetic asset that tracks the average price of all CryptoPunks NFTs. Additionally, you can earn YAM and UMA rewards for providing liquidity. - **bZx**: Announced [an NFT collection to commemorate](https://twitter.com/bZxHQ/status/1407328726547931140?ref=dexplain.com) their launch onto Polygon, will be distributed by giveaways and completing tasks so stay tuned! Learn more about [bZx Protocol in our review article here](https://dexplain.com/bzx-protocol-is-back-with-bzrx-yield-farming/). - **Twotwoart**: The world’s first Interactive Art Gallery, will exist in the real world and the metaverse together. Project’s [IDO for TWOTWO token is scheduled for July 1st via Mantra DAO](https://twitter.com/Twotwoart/status/1407443314249551877?ref=dexplain.com). Get ready!