Cboe Global Markets (CBOE), the largest U.S. options exchange, is putting its Bitcoin futures market on hold for the foreseeable future as trading volumes have cooled since peaking last summer and continue to lag CME Group. pic.twitter.com/bJqMmMc9jz — I am Nomad (@IamNomad) March 14, 2019 According to a recent notice, the Cboe Futures Exchange, or […]
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Bitcoin Price Analysis: Short-Term Support Breaks on High Volume and Spread
Leading into the London open, bitcoin broke through its local support level in a move that seems to be hinting toward a downward continuation:
Figure 1: BTC-USD, Daily Candles, Broken Local Support
So far, our daily candle has yet to close, but it is currently on schedule to close below local support. If we close below this current level, that will mark a new lower low for the first time in about a week and a half. Although that is bearish, the real strong support level lies just below and is outlined in red in the figure above. The $ 3,650 level has been a pivot point for months. We saw a test of that level a few days ago, but it was immediately rejected. However, now we are seeing a relatively widespread and high volume as we drift downward toward our support level.
Feb Volume Report: Leading Markets Post Strongest Month Since Q1 2018
For many leading markets, February produced the largest monthly volume since the first quarter of last year, with 30-day BTC trade activity surpassing $ 200 billion, and ETH exceeding $ 100 billion.
Also Read: Report: Quadriga’s 6 Cold Wallets Have Been Without Funds Since April 2018
BTC Volume Surpasses $ 200 Billion for February
February saw the highest volume for BTC trade in one year, with BTC pairings generating nearly $ 206.37 billion in trade during the last 30 days.
Markets Update: Diminished March Trade Volume Mirrors Previous Patterns
Over the last few days, cryptocurrency markets have been holding steady and consolidating after the correction on Feb. 24. Currently, the entire market capitalization is hovering around $ 129 billion and trade volume has started to diminish slightly with $ 24.9 billion traded over the last 24 hours. The top contenders capturing most of today’s daily gains consist of litecoin (LTC), binance coin (BNB), and ethereum classic (ETC).
Also Read: Public Transportation Across Argentina Can Now Be Paid With BTC
BTC Transactions Hit 1-Year High But Volume Remains Sluggish
There’s good news and bad news for traders monitoring onchain data for signs of a market revival. The number of daily transactions has been rising for months, suggesting that BTC is being used for more than merely speculative purposes. Daily trade volume remains sluggish, however, suggesting another bull cycle is still some way off.
Also read: Rio Carnival to Feature Bitcoin This Year
Singaporean and Eastern European P2P Markets Post Record BTC Volume
Several markets have seen spikes in peer-to-peer (P2P) volume, with the Kazakh and Singaporean Localbitcoins markets posting their second strongest weeks on record. Polish P2P trade also increased this past week, with volume reaching a 14-month high.
Also Read: Leaked Documents Suggest Mt. Gox Trustee’s Bitcoin Sales Impacted Market Prices
Singaporean P2P Trade Sees Spike
The current BTC price action appears to have driven an uptick in Localbitcoins trade volume across diverse markets, with many traders likely preparing for the various scenarios that may play out as BTC tests support near the low of 2018’s bear market.
BitTorrent Token (BTT) Volume Soars in First Day of Trading on Binance
In its first day of trading on Binance, BitTorrent Token (BTT) has already exceeded a trading volume of 24,419.4 BTC or roughly $ 83.5 million. According to live data from Binance, the BTT/BTC trading pair has nearly 3-times the volume of the next closest trading pair, XRP/BTC, with $ 28.2 million. BitTorrent Token’s price has jumped 35% to $ 0.000498, […]
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Bitcoin Price Analysis: Major Support Broken on Expanding Volume and Spread
After weeks of consolidation, bitcoin finally broke through support. The market now finds itself cruising toward prior lows. On expanding volume and spread, the bitcoin market appears ripe for a continuation of the downtrend:
Figure 1: BTC-USD, Daily Candles, Broken Support
Although the current daily candle has yet to close, unless there is a strong influx of demand hitting the market, it stands to reason that bitcoin will be closing a new daily low for the first time since mid-December. Following the stopping action in the low $ 3,000s, the bitcoin market remained coiled for over a month. However, today marks the first break of these levels once marked as support. To illustrate how coiled the market was and how potentially large the following move could be, check out the 3-Day Bollinger Bands (bbands):
Ethereum (ETH) On-Chain Transaction Volume Hit an All-Time High in December
Ethereum (ETH), currently the third largest cryptocurrency, saw its network hit all-time high on-chain transaction levels in December — excluding the DAO Hack period from 2016. According to a recent report by market research firm Diar, last month’s on-chain transaction volume hit 115 million ETH, the highest since the network’s genesis. However, despite the new peak, […]
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Cumulative Volume on Huobi Derivative Market Exceeds $20 Billion
Huobi has announced that its cryptocurrency derivative platform, Huobi DM, has surpassed $ 20 billion in cumulative trading volume. The announcement comes just one month after the platform exited beta mode.
Also Read: Eastern European P2P Markets See Strongest BTC Volume in Over 12 Months
Huobi DM Cumulative Trade Volume Doubles in 2 Weeks
Huobi Derivative Market has announced that the cumulative trade volume on the platform has exceeded $ 20 billion as of Jan. 12, 2019. As such, cumulative trade on the platform doubled in just 15 days.
Volume of Crypto is Dropping, is Bitcoin Headed Below $3,000?
In the last 48 hours, the volume of the crypto market has dropped from $ 15 billion to $ 13 billion as the Bitcoin price fell below the $ 3,600 mark. Analysts have started to demonstrate concerns regarding the declining volume of digital assets and the potential scenario of cryptocurrencies free falling without significant sell pressure from bears.
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The Daily: Genesis Trading Doubles OTC Volume, Bittrex Moves 130,000 BTC
OTC crypto platform Genesis Global Trading has increased its annual trading volume by 50 percent and we’ve got the details in this edition of The Daily. We also feature an announcement by Bittrex which sought to calm traders who spotted 130,000 BTC being moved, and the launch of an offers bot by P2P exchange Hodl Hodl.
Also read: Critical Bug Found in Beam Wallet, Wirex Adds Another Cryptocurrency
Kraken: Volume of US Govt. Subpoenas Huge ‘Barrier to Entry’ for Crypto Exchanges
Running a crypto-based financial service in the US is becoming difficult due to unconventional legal costs, cryptocurrency exchange Kraken indicated in its latest “transparency report.” Crypto Exchange Kraken Says Government Inquiries Tripled in 2018 The US-based crypto exchange, which additionally operates in Canada, Europe, and Japan, reportedly received 315 subpoenas from US law enforcement agencies, … Continued
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Circle Invest: Recurring Trade Volume Has Doubled Since September
Circle Invest, the retail crypto trading platform for Circle, has reportedly seen significant growth in the total volume of recurring trades on the platform, as well as other key metrics. According to a recently published year-end report, more than 30% of all purchases on Circle Invest are recurring, and recurring trade volume has doubled since September. […]
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Circle’s OTC Crypto Trading Desk Saw $24 Billion in Volume in 2018
Crypto heavyweight Circle stated in a blog post that their OTC (Over-the-counter) business has facilitated over $ 24 Billion worth of trades. This is a huge number given that OTC trading volumes are not reported publicly and there have been growing discussions about institutional investor activity over crypto OTC desks. Circle Trade has become a core liquidity
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December Volume Report: Top Markets See Strongest Trade of H2 2018
The five most traded cryptocurrency markets saw an increase in volume during December, when compared with the previous month. Despite the spike in trading activity posted by the dominant markets, many crypto assets ranked below the top five saw a decline in month-over-month volume.
Also Read: Report: Indian Government Updates Progress on Crypto Regulation
USDT and Top Altcoin Markets See Volume Increase
BTC saw a slight increase in volume during December, with $ 157.2 billion worth of trade taking place, up from $ 156.5 billion during November. As such, BTC posted its strongest volume since May.
Major Bitcoin Exchanges Accused of Faking Volume: Who’s Trustworthy?
A blockchain data research firm has released a damning report which accuses several major cryptocurrency exchanges of engaging in unscrupulous activities aimed at faking bitcoin trading volumes. According to the Blockchain Transparency Institute (BTI), only three cryptocurrency exchanges of the dozens surveyed — namely Binance, Bitfinex, and Liquid — were found not to be “grossly
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The Daily: Bitcoin Posts Record Volume, Ledger Plans Major Update
The news is bullish in this edition of the The Daily, mirroring the mood of the crypto markets. We’ll start by delving into BTC’s record-breaking day for trading volume and then examine a couple of stories that suggest 2019 is poised to get off to a very positive start.
Also read: Only Sharks Will Feed on the Crypto Market’s Elusive Price Bottom
Bithumb Accused of Inflating Reported Trading Volume
An investigation conducted by Crypto Exchange Ranks (CER) has alleged that Bithumb, the largest Korean digital currency exchange by volume, has drastically inflated its reported trade volume during the second half of 2018. The report asserts that a number of irregular patterns identified in Bithumb’s trade activity suggest “apparent trade manipulations being performed.”
Also Read: Former IMF Economist Mark Dow Closes $ 14K BTC Short
Report Accuses Bithumb of Dramatically Inflating Trade Volume
Research carried out by CER alleges that Bithumb uses “various trade volume manipulation techniques” to inflate its reported trade activity. The report also alleges that the exchange uses a “multi-factored approach” to conceal the volume irregularities.
Bitcoin Exchange Bithumb: Researchers Uncover Likely Fake Volume
Korean exchange Bithumb reported volumes more than 10x its summertime averages in early November. CryptoExchangeRanks.com, a research firm linked with Hacken, decided to vet the data. They made the report available to CCN and it’s at the bottom of this article. Interesting patterns were uncovered when Bithumb’s trading patterns were put under a microscope. The
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