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US cryptocurrency exchange and wallet provider Coinbase defended its business practices yet again this week after a US report said 20 percent of its volume came from the company itself.
In a blog post September 20, chief policy officer Mike Lempres refuted claims made by New York Attorney General Barbara D. Underwood in her Virtual Currency Markets Integrity Initiative.
“Coinbase does not trade for the benefit of the company on a proprietary basis,” Lempres wrote.
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The post Against Fake Volume Allegation: OKEx Distributes $ 5M Trading Commissions to Users Weekly appeared first on CCN
Over the past 24 hours, the crypto market has consistently demonstrated stability in the $ 202 billion region, as Bitcoin and Ethereum remained above $ 6,400 and $ 220. Yesterday, on September 16, CCN reported that the volume of Bitcoin is a concern, as it recorded nearly 30 percent drop in volume in a period of three days.
The post Crypto Market Steadies at $ 202 Billion. Low Bitcoin Volume Remains a Concern appeared first on CCN
The price of Ethereum (ETH) has been highly volatile over the past few weeks of trading, dropping from nearly $ 300 to as low as $ 170 before settling around $ 220.22 currently. However, Ethereum bulls may have regained some momentum as the price of ETH has bounced more than 25% off lows on what appears to be one […]
SludgeFeed
EOS (EOS), the blockchain platform well-known for its delegated proof-of-stake (DPoS) consensus model which works to speed up transactions and block creation at the expense of some level of decentralization, has recently surpassed Ethereum (ETH) in daily decentralized application (dApp) users and transaction volume. EOS dApps now have more daily users and higher weekly TX volume than ETH dApps. […]
SludgeFeed
In the first week of September, we saw Localbitcoins witnessing the lowest global peer-to-peer trade volume on record for Bitcoin. Data from Coin.dance suggests that the presence of only six markets appears to represent the pervasion of lowered trading activity with most of the Localbitcoin markets.
Localbitcoins are on a peer-to-peer Bitcoin exchange in which customers can buy and sell Bitcoin. Investors usually make advertisements with the payment method they offer and the price.
Continue reading Bitcoin’s Peer To Peer Trade Volume Hits A New Low at Crypto Daily™.
With trading volumes a whopping 80% lower than their January peak, some of the biggest trading exchanges are implementing controversial practices to stay profitable.
From the ‘stick’ of listing fees to encouraging ‘carrots’, the crypto exchanges are finding ways to get their money.
Exchanges such as Binance (the world’s largest by trading volume) and KuCoin, have implemented a system of variable listing fees. They both claim that the listing fee is based on the credibility of a project. Binance CEO, ChangPeng Zhao, famously remarked that “we don’t list shitcoins” even if they paid 4,000 BTC.
According to Coin.dance, the first week of September has comprised the weakest on record for global peer-to-peer (P2P) trade volume on Localbitcoins. The considerable lull in trading activity appears to have pervaded across the vast majority of Localbitcoins markets, with only half a dozen national markets posting volume that is comparable to the trading activity experienced in recent weeks.
Also Read: How to Buy Bitcoin Without Disclosing Your Identity
Coin.dance data claims that only 864 BTC were traded during the week of the 8th of September on Localbitcoins – the lowest on record in the five and a half years in which the company has been compiling data when measuring in BTC.
Earlier this week, the Blockchain Transparency Institute (BTI) published a report claiming that the global crypto exchange market is faking $ 6 billion of its daily volume. The researchers at BTI evaluated the user activity and traffic of the market’s biggest crypto exchanges, comparing their projected trading volume to other metrics. Slippage, a method utilized by
The post $ 6 Billion Daily Crypto Volume is Being Faked, How Can it be Combated? appeared first on CCN
Two months after its mainnet launched, daily transactions on the TRON (TRX) network have hit nearly half of the total volume on the Ethereum (ETH) network. Looking at the TRON transaction data for the last 14 days shows that the total daily transactions recently peaked at 416,497 on August 19 but has since dropped to […]
SludgeFeed
Coinbase want to become the epitome of the regulated, controlled and honest cryptocurrency exchange. They want to be the go to spot for personal investors and institutional investors alike, offering only trialled and tested cryptocurrencies that will help investors see a return. Because of their legitimacy and friendly neighbourhood approach, it does seem that throughout 2018, they have seen a very significant decline in the volume of trades through their platform, despite being one of the biggest exchanges in the world.
Continue reading Worry For Coinbase As Trading Volume Slumps Below Offshore Rivals at Crypto Daily™.
Binance has destroyed Coinbase and other major exchanges on volume in 2018 despite criticism of its altcoin-heavy focus.
The latest issue of monitoring resource Diar’s newsletter presents startling data from some of the best-known cryptocurrency trading platforms with Coinbase’s overall volume plummeting 83 percent in the seven months to July.
Bitstamp handled 73 percent less volume in July than in January, while Binance’s volumes remained steady, even post a 21 percent increase last month versus June.
“Traded volumes on Coinbase, Bitstamp and Kraken have seen steep declines,” Diar commented on the statistics.
Despite the sluggish price, the world’s most popular cryptocurrency has been settling more transaction volume than gold since Q2 2017.
Bitcoin 00 is on track to clear more transaction volume than the global gold markets.
Bitcoin has been clearing more tx volume than global gold markets since early 2017.
BTC: on pace to process $ 1.1 trillion in 2018 transactions
Gold: on pace to process $ 0.4 trillion in 2018 transactionsSources: https://t.co/eVqQiq56gv for BTChttps://t.co/zqh4eykqNb for Gold pic.twitter.com/oc5piRvrXE
— Kevin Rooke (@kerooke) August 15, 2018
Trading volume on Turkish cryptocurrency exchanges has soared over the last 24 hours as citizens have sought refuge from the weakened lira. Turkey’s national currency has faced a torrid time on a day when President Recep Tayyip Erdogan accused the US of trying to “stab it in the back”. Trade volume on domestic exchange Btcturk is up 350% in the last 24 hours, with BTC capturing 38% of the action.
Also read: Crypto Cafe and Coworking Space ‘Hash House’ Established in Xi’an, China
As is usually the case when the weekend dawns upon cryptocurrency markets, the situation looks very different. This past week hasn’t been too positive for either Bitcoin or the top altcoins, but the situation is slowly turning around. Most major currencies are noting small gains, with the Tezos price showing the rest how it’s done.
For a project riddled with as many problems as Tezos had to face, it is a small miracle the company is still in operation today. Most of the issues have now been finally settled, and the XTZ token can be traded, albeit in a limited fashion. This has also had a big impact on the Tezos price, especially after crashing hard despite setting an all-time high of $ 9.73.
Trading volume on South Korea’s Bithumb exchange has plummeted since it temporarily stopped offering new account registrations.
CoinDesk
A couple of experts have recently provided compelling evidence that shows that the Asian market had a prominent role to play in the recent Bitcoin price surge. Also, the current economic standoff between the United States and China is positively enhancing Bitcoin’s pedigree as a hedge against economic uncertainties.
In the wake of the recent Bitcoin price surge, many analysts have tried to come up with a reasonable explanation to explain the price movement. Some experts lean towards a short squeeze. Others believe that rumors of an impending positive BTC ETF decision from the SEC drove the market hype.
Bitcoin sits precariously perched at the bottom of the annual market low and many bitcoin investors aren’t sure what to make of it. Although the market seems to be continuing its drift to new lows with greater and greater ease, there are a couple of bullish signals worth considering while the market continues to consolidate:
Figure 1: BTC-USD, Daily Candles, New Market Low
On Friday, June 29, 2018, for the first time this year, the daily candles closed below the annual low of $ 6,000s. However, something to note about this bearish close is the lack of volume and lack of momentum on the follow through. Overall, the volume is continuing to consolidate and it appears to be within the realm of an accumulation trading range (TR).
It would appear another major price reversal looms on the horizon for all major cryptocurrencies. After a very rough period over the past few days, most of the markets are on the road to recovery. The XRP price is leading the charge among top 10 currencies with a solid 2.54% increase. If this trend keeps up, things will certainly get pretty interesting moving forward.
With another battering taking place across all cryptocurrency markets over the past few days, few people had expected any positive momentum to come out of it so soon. In the case of the XRP price, the going has been tough these past few days. This is on par with all other major cryptocurrencies, for rather obvious reasons.
There is an upsurge in the cryptocurrency trading volume in India. This increase is occurring despite the crypto ban issued by the Reserve Bank of India (RBI) in April 2018. As a result, crypto stakeholders remain confident that the market will continue to flourish even after the ban officially takes effect in July 2018.
Crypto prices and daily trading volumes have increased in the aftermath of the RBI ban. According to Reuters, the average price of bitcoin in India is $ 9,270. This figure is significantly higher the average bitcoin price in the few days after the RBI announcement which was $ 5,250. The average crypto trading volume in the country has also increased. According to Pune, a crypto exchange platform based in India, daily trading volume has reached $ 75 million.
