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The world’s largest options and futures exchange, Chicago Mercantile Exchange & Chicago Board of Trade (CME Group) and its bitcoin futures contracts saw an all-time high on May 13. According to CME’s records, the exchange recorded 33,700 contracts on Monday which represented a notional value of around 168,000 BTC ($ 1.35 billion).
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BitMEX, a cryptocurrency trading platform that offers up to 100x leverage, reportedly set a new record for 24-hour trading volume on Saturday — surpassing $ 10 billion for the first time. New record for BitMEX trading volume. Praise be to volatility and our wonderful traders! pic.twitter.com/iLMGdpz65n — Arthur Hayes (@CryptoHayes) May 12, 2019 According to a […]
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Ethereum (ETH) moved higher in definitive fashion Monday after news broke that the CFTC is willing to approve ether futures if the proposed contracts meet all the requirements. The largest altcoin started Monday morning around $ 160 and steadily rose throughout the day to just under $ 180. After a slight pullback, ether is currently trading for […]
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Volume has been ramping up across the cryptocurrency markets, with April seeing a new all-time high posted for daily global cryptocurrency volume. The month has also seen Chicago Mercantile Exchange (CME) report record trade volume for its BTC futures contracts, in addition to Cumberland’s trade desk reporting an influx of 1,000 BTC buy orders, signaling strength across numerous facets of the virtual currency ecosystem.
Last week, Bitwise released a research report that revealed just how illusory trading volume numbers are among crypto exchanges outside the United States. The study, which accompanied Bitwise’s recent Bitcoin (BTC) ETF filing with the SEC, found that around 95% of the Bitcoin trading volume for the top-81 exchanges on CoinMarketCap, the largest cryptocurrency market […]
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Trading volumes on cryptocurrency exchanges are largely an illusion. That’s according to a research report by Bitwise that accompanied its recent Bitcoin (BTC) ETF filing with the SEC. 1/ New Research from us @BitwiseInvest. As part of 226 slides presented to the SEC on our ETF filing, we did a first-of-its-kind analysis of *order book […]
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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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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.
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.
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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.
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).
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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
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
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.
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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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), 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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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 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.
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.
The post Volume of Crypto is Dropping, is Bitcoin Headed Below $ 3,000? appeared first on CCN
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
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
The post Kraken: Volume of US Govt. Subpoenas Huge ‘Barrier to Entry’ for Crypto Exchanges appeared first on CCN
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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