Savitar

21/01/2022

DBP vs. BPP
When facing double plants, I'd like to take my time.

Highest MMR: 2.2k
Current MMR: 1.4k

17/01/2022

We’ve just launched a balancing patch! We’ve released this patch prior to the release of the season to ensure sufficient time for play-testing. This should catch any unintended mechanics and consequences of the patch. This means that until Season 20 is formally launched, we may launch hot-fixes.

16/01/2022

Risky outplay of the day!

14/01/2022

The answer? A resounding YES!

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14/01/2022

Disablesaur vs. Meta Arco Mech

14/01/2022

Disablesaur vs. AAP

06/01/2022

Hello Crypto Fam,

Pretty rough across the board. Not the best way to start the year of course.

Firstly, it's worth pointing out that as we started the year, spot trading volume was already waning.

On Tuesday, volume stood at $4.8 billion. For context, this stood at 4.8 billion a year earlier and the daily average last year was at $9.2 billion.

On top of that, the Open Interest in Bitcoin Perpetual futures markets started climbing. To quote a recent Arcane weekly update, "leverage was back on the menu".

So, the markets were primed for a shock that drove cascading liquidations.

That shock came from two sources. The first and most obvious is on the global macro front.
Of course, given the "risk on" nature of Bitcoin, it would closely follow the stock market in this regard.

Add to this, you also had the Bitcoin specific impact of a massive fall in hashrate. No, China didn't ban crypto mining again…

This actually happened out in Kazakhstan where protests led the government to literally shut down the internet!

After the US, Kazaktstan is the second biggest contributor to global hashpower. Therefore, its only logical that hash rate will collapse.

So, you had this sell pressure coming through on the spot market when volumes were already low. Hence, it was likely to have that much more of an impact.

There were almost $700m worth of liquidations that took place ;

As you know, liquidations precipitate further liquidations especially when these futures contracts are margined with Bitcoin (most perpetuals).

So, that explains what happened yesterday. Where we go from here really depends on how things play out in the traditional financial markets. If the Fed continues its aggressive rate policy, we could see further volatility.

However, the deleveraging that happened over the past 48 hours could help to reduce that volatility.

04/01/2022

Read on, folks!

We should collectively work to improve the economic balance of our community assets. We'd like to provide a framework to start this conversation.

02/01/2022

Bird, Mech, Plant gameplay!