fell below $37,000 after briefly surpassing $40,000 following com’s denial that its job posting for a executive meant that it will accept the token for payments this year. It later recovered to over $38,000.
Earlier Monday, the job posting from the retail giant seeking an executive to develop the company’s “and blockchain strategy” had stirred questions among analysts over whether the move could eventually lead to accepting as a method of payment. Shortly before 4.00 pm in New York, an spokesperson’s denial that the company will accept the token for payments this year caused its price to plunge to $37,598. Rival coins including Ether and Litecoin also tumbled.
Investors rushing to cover bearish bets had fueled the earlier rally that drove the coin at one point up more than 17 per cent on Monday to $40,545, its highest since June 15. More than $950 million of crypto shorts were liquidated on Monday, the most since May 19, according to data from Bybt.com.
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First Published: Wed, July 28 2021. 01:14 IST