Wonderland
2 key Bitcoin price metrics suggest BTC is primed to reclaim $40,000
Cryptocurrencies had a volatile week after Bitcoin’s (BTC) sudden crash to $33,000 on Jan. 24. However, the sharp 9% drop fully recovered within 8 hours after BTC price regained the $36,000 support. On Jan. 26, Bitcoin rallied to $38,960 but it could not sustain the level and corrected by 8.8% in the following 8 hours. When factoring in the recent ups and downs, Bitcoin managed to only gain a meager 1.6% over the past seven days. Even with the considerable price swings, the aggregate futures contracts liquidations were relatively low. Longs (buyers) had $570 million futures terminated, while shorts (sellers) faced $690 million. Data shows that Bitcoin futures represented 41% of the total $1.25 billion liquidations. Regulatory winds could be limiting BTC’s price recovery The total cry...
Daniele Sestagalli discusses Wonderland’s future after QuadrigaCX co-founder dox
On Friday, Daniele Sestagalli, co-founder of decentralized finance, or DeFi, protocol Wonderland and stablecoin protocol Abracadabra, issued a statement on the path forward after the doxing of his colleague Michael Patryn: “Do we wind down or continue to fight for the aspect of an investment DAO [decentralized autonomous organization] being a revolutionary new organization? For the option that I am for, which is to fight and bring someone new and experienced to manage the treasury.” The day prior, an investor uncovered the identity of Wonderland’s chief financial officer to be Patryn, who was the former co-founder of defunct Canadian cryptocurrency exchange QuadrigaCX. Over $145 million worth of QuadrigaCX customers’ funds are still missing after the mysterious death of its co-...
