In the past month, European business hours became extremely active for bitcoin futures trading on BitMEX futures. European Traders Pick Up the Slack on BitMEX New data shows European bitcoin traders became active in the past month, making up the bulk of volumes on the BitMEX XBT/USD perpetual contract. European hours have been the most active in the last month. Here hourly volumes in UTC time for BitMEX’s XBTUSD contract Morning you get Asia +
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The Intercontinental Exchange has just announced its first block trade of the newly offered Bakkt bitcoin monthly options contracts submitted to ICE Futures US. First Block Bitcoin Options Trade According to the announcement the Bakkt Bitcoin Options settle into the underlying BTC monthly futures contract two days prior to expiry. Galaxy Digital Trading and XBTO executed the inaugural trade. A block trade is defined as a privately negotiated trade with a certain minimum size threshold.
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Bitcoin and crypto derivatives behemoth BitMEX is being sued for $300 million for providing false equity information to a couple of early investors. According to recent reports, BitMEX is in hot soup, and so is the exchange’s founder, Arthur Hayes. The bitcoin futures company and its founder are facing a $300 million lawsuit, which accuses them of not granting equity on investments made by early backers. Frank Amato, as well as RGB Coin Ltd., were
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Crypto practitioners who depend on Keepkey hardware wallets to store their coins ought to take a pledge of not discussing it in public. Kraken Warns Crypto Users The warning appears on Kraken’s latest blog post wherein it discusses a serious flaw in all of the Keepkey hardware wallets. The US exchange’s security research wing claims that it has found a way to hack seeds from Keepkey wallets. In retrospective, a seed phrase is a string
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The battle of the bitcoin futures platforms is heating up. The Chicago Mercantile Exchange has released details of its new BTC options contracts while the launch of Bakkt’s equivalent product is less than a week away. How will bitcoin prices react? More Institutional Bitcoin Products This time two years ago the CME was poised to launch its game-changing bitcoin futures contracts. It was the first time investors were able to short the digital asset and
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The Bakkt bitcoin futures contracts peaked to a new high, signaling strong institutional interest in BTC, risk exposure, affinity in ‘physically’ acquiring the underlying asset. Bakkt Bitcoin Futures Set New Record Days After Last Friday’s Peak During a period of high volatility for bitcoin, the futures market picked up in earnest, breaking the previous record from last week and continuing on a streak of records over the past months. Bakkt now habitually trades above 2,000
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The Bakkt Bitcoin (BTC) futures set a daily trading record, just as the leading coin crashed from $8,000 to under $7,000 within a 24-hour period. Bakkt Activity Shot Up on Day of Rapid Losses for BTC Activity shot up on the Bakkt exchange, from the usual daily interest above 1,400 traded contracts. Open interest exceeded the equivalent of $1.75 million. Daily summary of Friday’s Bakkt Bitcoin Monthly Futures: 📈 Traded contracts: 2728 ($20.30 million, +66%)
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Bitcoin’s ‘cash-settled’ futures market is coming to Singapore. ICE, the operator behind Bakkt’s BTC futures firm, has chosen to offer this new product, which will be traded on ICE Futures Singapore. Bitcoin Cash Settled Futures Appeals to Institutional Clients Bakkt has achieved exponential growth with physical delivery futures, but the international expansion chose the cash-settled route. The move was announced just as the Singapore Money Authority announced its readiness to regulate crypto trading, opening a
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Bakkt joins the field of institutional-grade bitcoin custody service providers after obtaining approval from regulators in New York. Meanwhile, the Bitcoin futures product launched by the Intercontinental Exchange (ICE) subsidiary continues to set new records. Bakkt Warehouse Obtains NYDFS Green Light Bakkt COO Adam White announced the news via a blog post published on Monday (November 11, 2019). According to the announcement, the New York Department of Financial Services (NYDFS) has given Bakkt the go-ahead
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Recent research has taken a closer look into bitcoin prices and miner flows to crypto exchanges. There have been clear spikes as expected when larger mining pools liquidate but the correlation is not as strong as many would expect. This would suggest there is more hodling going on this year. Do Bitcoin Mining Pools Impact Prices? Naturally, when a large quantity of any asset enters the markets, its prices are going to be affected. According
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What is bullish for some is bearish for others. Bakkt’s physically-settled bitcoin futures contracts continue to gather momentum but the asset itself has retreated back below $9,000 as the bears get back in the game. Bitcoin Price Falls Through Support Following a fortnight of range-bound trading in the mid-$9,000 zones, the anticipated downward move has finally arrived. In two swift moves a few hours ago, bitcoin price dumped through support to bounce off the $8,650
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A financial report circulating on social media platforms shows that CashApp’s bitcoin purchase volumes surged impressively in the third quarter of 2019. The data created impressive prospects for the emerging Bitcoin market. However, according to an independent analyst, the numbers were gloomy. Friar Hass, who has a history of stalking and reporting CashApp’s financial quarters, noted that the application sold only 8.7 percent of the total produced bitcoins in Q3. Hass found the miners mined
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Bakkt saw an overnight spike in Bitcoin futures trading volumes, despite the relatively sluggish price action. BTC’s trek to above the $9,400 mark inspired futures markets to gain activity. Bakkt Grows its Bitcoin Futures Activity Slowly The Bakkt Bitcoin futures platform traded 1,061 contracts today, which is a 96% appreciation from the previous day. ICYMI: Tuesday’s Bakkt Bitcoin Monthly Futures: 📈 Traded contracts: 1061 (+96%) 📅 Day before: 541🚀 All time high: 1183 *bleep blop*
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Several bitcoin investment platforms for institutional players have been gaining popularity over the past few months. Does this point to a possible BTC price breakout coming in the next few weeks? Let’s see. Bakkt Recovering From Slow Start The launch of Bakkt, the first federally regulated bitcoin futures exchange, got off to a rocky start last month after roughly a year of ensuring compliance with US laws and regulations. The first few days of their
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Some still assert that the launch of two bitcoin futures products crashed markets in 2017 as it was the first time investors could short the asset. What they have done has completely changed the landscape two years later. Futures Changed Bitcoin Landscape According to ‘Skew Markets’, futures products improved the price discovery for bitcoin especially in 2018. Contracts such as perpetual swaps, which are similar to traditional derivative products but have no expiry or settlement,
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Bitcoin mining giant Bitmain has unveiled a new US facility which could become the biggest mining operation in the world. The newly proposed 33,000 acre farm is a positive step in reducing China’s bitcoin mining dominance. Bitmain: Texas Farm Can Hit 300 Megawatts In a press release on October 21, executives confirmed its latest Bitcoin mining farm in Rochdale, Texas had launched. The 33,000 acre site will initially host a 50 megawatt farm, but its
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Cryptocurrency exchange Binance surprised analysts this week after its Bitcoin futures set an unlikely trading record. Binance Bucks Negative Market Mood According to data from market analyst Skew on October 15, Binance’s BTCUSD product traded over $700 million on Tuesday alone. The figure marks a new record for the exchange, which debuted its futures last month. Its timing, however, was what raised eyebrows among commentators. As various resources show, overall Bitcoin trading has hit uninspiringly
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Switzerland’s main stock exchange SIX has chosen to increase its cryptocurrency portfolio by trading a product based solely on Binance Coin. Binance Coin ETP Goes Live On SIX In a blog post issued on October 15, Binance Coin’s issuer, cryptocurrency exchange Binance confirmed it was launching a dedicated exchange-traded product (ETP) on SIX. Trading will begin today and marks the first physically-backed BNB-based ETP anywhere in the world. The move follows multiple other ETPs on
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A pivotal US self-regulatory organization has formally licensed the country’s first public security based on cryptocurrency markets. Large Cap Fund Gets FINRA Say-So Shares of Grayscale’s Digital Large Cap Fund (DLC) received the green light from the Financial Industry Regulatory Authority (FINRA) this week, a press release confirmed on October 14. Grayscale, currently the world’s largest cryptocurrency asset manager, has operated the DLC since the beginning of 2018. The investment vehicle allows institutional clients to
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The highly anticipated launch of Bakkt’s physically-backed bitcoin futures has been disappointing, to say the least, posting only $5.8M of BTC trading volume in the first week. Many people in the community saw Bakkt as the catalyst to get institutional investors to enter the market. But so far, it doesn’t seem like institutions are interested. Low Trading Volume in the First Week Bakkt has been one of the most hyped projects in the bitcoin community.
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