Altcoin News Daily Official TheBitTimes.com

Decentralized Finance (DeFi) has revolutionized traditional finance by introducing novel financial instruments, one of the most controversial being flash loans. Unlike conventional loans, flash loans require no collateral and allow users to borrow funds instantly—provided they repay the loan within a single blockchain transaction.  This innovation has unlocked new opportunities in arbitrage, liquidations, and refinancing. However, it has also introduced significant security risks, particularly in the form of flash loan attacks. In this article, we delve into the mechanics, applications, benefits, and risks of flash loans in DeFi. What Are Flash Loans? Flash loans are a unique financial primitive in DeFi, primarily facilitated by lending protocols such as Aave and dYdX. They leverage smart contracts to enable users to borrow funds without collateral, under the condition that the borrowed amount is repaid within the same transaction block. If the repayment condition is not met, the trans...

More than $160 million was liquidated from leveraged positions over the past 24 hours after the Bitcoin price dropped below $58K to trade at $57,934.13 as of 3:20 a.m. EST. The majority of the liquidations throughout the past day of trading were long positions, with bullish traders seeing over $134 million wiped out from their positions, according to Coinglass data. Meanwhile, more than $31 million was liquidated from short positions. Bitcoin And Ethereum Lead In Liquidations As Sentiment Reaches “Extreme Fear”  The total crypto market cap dropped over 5% in the last 24 hours. This is after all of the top 10 biggest cryptos by market cap suffered losses during the past trading session. Toncoin ( TON ) took the biggest hit, and shed more than 7% of its value. Dogecoin (DOGE) was the next biggest loser after its price also plunged over 7%. Market leaders Bitcoin and Ethereum (ETH) both dropped over 4%. BTC and ETH accounted for the majority of the liquidations in ...