New data shows that crypto investors and traders are withdrawing their BTC from cryptocurrency exchanges in record numbers, following the historic Black Thursday collapse in mid-March. While this may initially sound like a bad thing for the market, it has incredibly bullish implications that provide a highly optimistic outlook on Bitcoin’s future. Data Shows Crypto Investors Are Storing Less BTC on Exchanges Bitcoin price exploded to over $10,000 BTC during the first few months of […]
Crypto exchanges have come under fire recently for allegedly fabricating volume figures. It is an easy thing to do so researchers are looking at other ways to measure dominance, and cold wallets could be one. There are a number of differing ways to rank crypto exchanges and daily volume appears to be one of the most popular. Leading analytics platforms such as Coinmarketcap now offer three metrics for exchange volume; adjusted, reported and liquidity. Yesterday,Read More The post appeared first on Bitcoinist.com.
The crypto industry has yet to evolve from exchanges which are nothing more than digital banks in reality. A couple are taking bold moves to slash their fees but how many others will follow and how will it affect the wider crypto industry. Crypto Exchanges: Banks in Disguise True financial decentralization should consist of direct peer to peer transactions and more decentralized exchanges (DEXs), yet still centralized exchanges reap the profits like their banking counterparts.
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How many trades are actually processed per month, day, second on crypto exchanges? The answer is anybody’s guess, because no matter how many times CoinMarketCap, or other aggregate platforms, adjusts its figures, we’re always left with serious doubts. Information Not As Readily Available As Expected The team at Shrimpy portfolio management set to work finding out the answer to this long-standing question, and has recently published its results in a blog post. It seems that
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The crypto industry has evolved so much over the past couple of years despite the prices of many tokens still wallowing at the bottom of the digital pond. There are now a lot more people working in the industry and recent research indicates that crypto exchanges are dominating in terms of employees. Over 40% Work At Crypto Exchanges The demand for cryptocurrencies has increased so much over the past three years that countless exchanges have
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Today’s massive bitcoin price crash was largely expected by analysts. The bearish descending triangle formation was bound to break out to the downside so it has been no real surprise. What the move has revealed however is huge price discrepancies between various crypto exchanges. Bitcoin Premiums Abound The digital dust appears to be settling following bitcoin’s $1,500 dollar dump a few hours ago. A cascade of sell signals were triggered as soon as the asset
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Binance and other cryptocurrency exchanges are leading global trade volume from their new base in Malta, fresh research has found. Malta Hits $35B Monthly Volume CryptoCompare gathered raw data from the exchange sector covering the three months from December 2018 to February 2019, which it released as a report this week. Leading the results was a breakdown of exchange trading volume by jurisdiction, leading Malta come beat countries such as Singapore and the US. “Maltese-registered
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Bitcoin development company Blockstream has open sourced development of a tool which allows cryptocurrency exchanges to prove their liquidity. Exchanges Have ‘Room For Improvement’ Dubbed ‘Proof of Reserves,’ the tool originated as a feature geared to Blockstream’s Liquid Network, developers subsequently opting to release it for market participants throughout the Bitcoin network. This, it said in an accompanying blog post, was due to the inadequate and patchwork nature of proof schemes currently available. “We originally
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Some of cryptocurrency’s best-known names have joined public calls for exchange HitBTC to explain itself after it began halting withdrawals days before a significant event. Mayer: ‘Beware’ HitBTC Trace Mayer, organizer of Proof of Keys, which calls for cryptocurrency owners to remove their holdings from third-party exchanges on January 3, condemned HitBTC for the move, reports of which began December 31. “Has (HitBTC) failed Proof Of Keys? I do not have an account. Asked a
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The operator of Germany’s only regulated cryptocurrency exchange has confirmed it will de facto become a bank after securing a 100 percent takeover of Tremmel Wertpapierhandelsbank. Bitcoin.de Buys Tremmel Wertpapierhandelsbank Bitcoin Group SE, which operates Bitcoin.de, will be able to offer a raft of services connected with cryptocurrency thanks to a banking license once the deal goes through. Frankfurt-based Tremmel has operated as a minor financial institution since the early 1980s, with previous owner Rainer
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US-based cryptocurrency exchange Bittrex confirmed it was relaunching its Bittrex Malta platform as a new exchange for non-US traders. US Traders To Stay On Bittrex.com In a press release and blog post, executives confirmed its new Bittrex International would host all its non-US users when it launched following a “brief evaluation process.” US residents will use a segregated Bittrex.com platform, which will not feature some new tokens available to International account holders. “All customers will
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New York regulators have given the green light to Tyler and Cameron Winklevoss’ first cryptocurrency, a stablecoin attached to their trading platform Gemini. Solving Stablecoin ‘Trust Problems’ As Forbes reports on September 10, the token, the Gemini Dollar, will have the backing of investment bank State Street, which takes custody of the fiat dollars it is backed by. Speaking to the publication, Tyler Winklevoss appeared to stress the level of trust the stablecoin will offer, based
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Cryptocurrency exchange Binance CEO Zhao Changpeng dismissed rumors he planned to perform an initial public offering (IPO) September 7, following fintech startup Robinhood. Finance Skills ‘Very Much Needed’ After a report by Sludgefeed which suggested Binance’s recent hiring of Wall Street executive Wei Zhou as its CFO this week meant it was seeking to IPO, Changpeng denied this was the company’s goal. “(Binance) have no plans for IPO, but that doesn’t make those experiences less
Filipino cryptocurrency exchanges could see draft rules outlining their treatment as trading platforms as soon as next week, the country’s financial regulator told local media last week. ‘Regulate Them As Trading Platforms’ As The Manila Times reports September 3, the Philippines’ Securities and Exchange Commission (SEC) plans to release “draft rules” governing exchanges, which currently operate on a case-by-case approval basis, by the middle of the month. “We see the need to regulate them as
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Cryptocurrency exchange Binance continued to wow cryptocurrency commentators as data shows the platform made almost as much profit as Nasdaq in Q1 2018. 8 Months, $200 Million A comparison uploaded to Twitter by Danhua Capital managing Director Dovey Wan August 30 shows that for that period, Binance pulled in $200 million against Nasdaq’s $209 million. The figure represents one of several linked to Binance’s rapid growth to circulate among the online community, Wan also noting
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Binance CEO Changpeng Zhao rebuffed criticism of the exchange’s listing fees Saturday, saying commentators should concentrate on the quality of coins it chooses to list. ‘Is My Coin Good Enough?’ In a series of Tweets, Zhao took issue with Expanse founder Christopher Franko, who had previously claimed the exchange quoted him 400 BTC ($2,600,000) for listing his altcoin token. “We don’t list shitcoins even if they pay 400 or 4,000 BTC,” he wrote, implying that
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Binance, the cryptocurrency exchange which often tops global trade volumes, can charge 400 BTC ($2.6 million) to list a token on its platform. Binance Appears To Deny 400 BTC Claim That’s according to Christopher Franko, co-founder of Blockchain platform Expanse, after submitting a listing request to the exchange this month. Binance, which revealed a first incarnation of its decentralized exchange August 8, reportedly also sought to deny the claims, with support staff claiming certain information
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Hong Kong-based trading platform Bitcoin Mercantile Exchange (BitMEX) has revealed it traded over 1 million Bitcoin in the 24 hours through July 24. ‘Astronomical Surge’ In Volume As Bitcoin prices continue to hover above $8000, major exchanges have handled daily volumes exceeding $5 billion this week. For a single venue, however, BitMEX claims it has broken an industry record. “The astronomical surge in trading volume, coupled with the steadily rising price of bitcoin, is reflective
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Coinbase has revealed unofficially that its internal investigation into insider trading of Bitcoin Cash found no evidence of foul play. ‘No Disciplinary Action’ In private comments to Fortune, the US’ largest cryptocurrency exchange said that as of last week, the long-awaited investigation had come to an end, but that “no disciplinary action” would occur. “We would not hesitate to terminate an employee or contractor and/or take appropriate legal action if evidence showed our policies were
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The Maltese Stock Exchange (MSX) has signed a Memorandum of Understanding (MoU) with Chinese cryptocurrency exchange OKEx to create a joint new regulated exchange. Regulated Exchange In Planning A press release issued July 19 confirms the move, which envisions a three-way deal between MSX, OKEx and German Blockchain platform Neufund. The new exchange, dubbed OKMSX, will “OKEx’s digital asset operations and security expertise, along with the Malta Stock Exchange’s 26 year track record of operating
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