Coinbase Trading Drops 83% Since January, Offshore Cryptocurrency Exchanges Make Gains

Cryptocurrency exchange giant Coinbase might, as market research firm Bernstein recently said, be on the cusp of assembling an “unassailable” market share in the U.S., but that doesn’t mean that the San Francisco-based firm isn’t struggling to maintain consumer activity during the current downturn. Citing data from CoinApi, cryptoasset research firm Diar reports that USD-denominated … Continued

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Altcoin Purge Begins: Okex Delists 28 Token Pairs

Altcoin Purge Begins: OKEX Delists 28 Token Pairs

As part of what some observers are calling a purge of alternative coins during the cryptocurrency bear market, Hong Kong-based exchange Okex announced they would be delisting and hiding certain token pairs, more than two dozen in total. It comes at time when the exchange is dealing with its own internal problems in a year, so far, of hectic change and challenges. 

Also read: Report: 15,000 Twitter Crypto Scam Giveaway Bots

Altcoin Purges Beginning as Okex Delists 28 Pairs

“To maintain a healthy trading environment and pleasant trading experience on OKEX,” the exchange posted on its blog, “our auditing team has carried out comprehensive monitoring on the market and projects. We discovered that some projects have met the token delisting/hiding thresholds stated in the OKEX Token Delisting / Hiding Guideline.”

Altcoin Purge Begins: OKEX Delists 28 Token Pairs

Okex was careful to note tokens will be delisted “12:00 Aug 17, 2018,” asking exchange users “cancel your pending orders before delisting, or they will be canceled with your assets returned to your spot account by the system automatically after delisting.”

Delisted pairs include “Against USDT: LA, READ, SNM Against ETH: UTK, WRC, QVT, SAN, UBTC, DNT, OAX Against BTC: UBTC, BCX, BT2, WBTC, UKG, LA, SAN, ATL, REQ, BRD, SNM, VEE, TIO, REF, UTK, WRC, QVT, DNT”.

Altcoin Purge Begins: OKEX Delists 28 Token Pairs

A Hectic Year for the Exchange So Far

The Hong Kong-based exchange has been around since 2014, focusing on cryptocurrency at a global scale. It’s claim to fame is providing a myriad of futures and trading pairs. It is also, of late, a very controversial figure in the space. Routinely cited as a major exchange by volume, at least one report concluded much of that volume is faked or ‘ghost.’ Undeterred, Okex is expanding to Malta under a memorandum of understanding, and the company has rolled out its own version of an ETF. Even more recently still, Okex again courted controversy with its ‘socialized clawback’ position. It punishes innocent users, impacting them with others’ bad investment decisions through a 17 percent ‘tax’ by the exchange in a complicated turn of events.

Altcoin Purge Begins: OKEX Delists 28 Token Pairs

Along with delisting pairs, it is also hiding tokens, by which it means “hidden tokens will not be displayed on our token trading list and charts, they can still be found to trade by entering its ticker in the search field.” They include “UBTC, EVX, WFEE, RCT, MDA, CTR, CAG, BT2, BRD, UKG, LA, QVT, WBTC, ATL, AVT, SNGLS, REF, ICN, UTK, MTL, SUB, OAX, STC, MAG, RCN, DNT, SAN, YOYO, REQ, BCX, MTH, RDN, DAT, ZCO, VEE, NGC, MOT, GSC, TIO, AST, FUN, READ, VIU, LEND, WRC, SNM”.

Lastly, Okex noted, “In order to protect the interests of our users as well as the industry, we will strictly monitor all listed projects and implement the delisting / hiding mechanism for substandard projects.”

What do you think of Okex delisting and hiding altcoins? Share your thoughts in the comments section below.


Images via Pixabay.


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Binance Argues it Does Not Charge 400 Bitcoin For Listing, CEO Clarifies

Changpeng Zhao, the CEO of Binance, has officially stated that the company does not charge 400 bitcoin ($2.5 million) to list cryptocurrencies on its platform. Legitimacy of the Claim Last week, cryptocurrency researcher Christopher Franko claimed that Binance, the world’s largest digital asset exchange, has been charging cryptocurrencies a listing fee of 400 BTC to

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Exchanges Round-Up: Chinese Court Backs Coinnice Repatriation, CZ Demos Binance DEX

Exchanges Round-Up: Chinese Court Backs Coinnice Repatriation, CZ Demos Binance DEX

In recent news pertaining to cryptocurrencies, a Chinese court has rejected an appeal from a trader disputing a previous decision that mandated he repay the value of 5 BTC accidentally credited to his Coinnice account, the CEO of Binance has demonstrated the company’s upcoming decentralized exchange (DEX), and Okex’s head of operations has discussed the company’s recent “socialized clawback”.

Also Read: Stablecoins Gaining Popularity in India to Minimize Central Bank’s Impact

Chinese Court Backs Exchange in Dispute Over 5 BTC Accidentally Credited to Trader

Exchanges Round-Up: Chinese Court Backs Coinnice Repatriation, CZ Demos Binance DEXA Chinese court has rejected an appeal made by a bitcoin trader who was recently mandated to repay the fiat value of 5 BTC accidentally credited to him by an exchange operated by Beijing Grape Technology Co. The 5 BTC had been credited to Li Jianfeng’s account as the result of a system bug on the then-operating Coinnice exchange on the 10th of March 2017.

The court had previously ruled that Mr. Jianfeng had no legal claim to the 5 BTC, and mandated that he return the fiat value corresponding to the BTC at the time of their liquidation. Mr. Jianfeng appealed on the basis of the exchange’s operations being illegal according to China’s “Notice of the People’s Bank of China and other departments on preventing the risk of bitcoin,” however, the court rejected the case due to said notice not being in effect at the time of the incidents in question.

Ultimately, the court ruled that Mr. Jianfeng must adhere to the contractual policies enforced by the platform, determining: “In this case, whether or not Coinnice’s establishment as a bitcoin trading platform has violated relevant rules, does not have any impact on Li’s liability to return the profits he received with no legal basis….As such, the court denies his appeal and the decision is final.”

CZ Demos Upcoming Binance DEX

Exchanges Round-Up: Chinese Court Backs Coinnice Repatriation, CZ Demos Binance DEXThe chief executive officer of Binance, CZ, recently uploaded a video to Youtube providing the first demonstration of the company’s upcoming decentralized exchange, Binance Chain. The CEO indicated the company’s plans for the DEX are moving significantly ahead of schedule and that the demo had taken place “one to two months later” than anticipated.

The preview demonstrated the “issuing or creating of a token,” the “listing of the token on the decentralized exchange,” and “trading of the token against another token on the decentralized exchange.”

Despite the demo, CZ stressed that the platform is “very much still in early-stage development,” adding that “there is still a ton of work to be done” before the finalization of the platform.

Okex Head of Operations Discusses Recent “Socialized Clawback”

Exchanges Round-Up: Chinese Court Backs Coinnice Repatriation, CZ Demos Binance DEXThe Okex head of operations, Andy Cheung, has discussed the exchange’s recent “socialized clawback” that followed a $416 million liquidation that recently took place on the exchange’s futures markets.

Mr. Cheung stated that the liquidation and clawback were resultant from “merely a bad decision of a trader,” asserting that the exchange contacted the trader multiple times requesting that he “partially close the positions to reduce the overall market risks.” Despite such, Mr. Cheung stated that “the client refused to cooperate, which [led] to our decision of freezing the client’s account to prevent further positions [from] increasing. Shortly after this preemptive action, unfortunately, the BTC price tumbled, causing the liquidation of the account.”

Mr. Cheung described the incident as comprising a “valuable lesson” for Okex, asserting that despite the resulting socialized clawback, “From our data, we do not see any signs of the market sentiment being affected by this incident. We also do not see any signs of our customers’ sentiment being greatly affected. We would say this is a valuable lesson for us in improving our trading experience. We always encourage our customers to study the mechanism behind futures trading before joining the game to avoid unexpected losses.”

Although Mr. Cheung defended the company’s policies regarding socialized clawback, describing such as “balanc[ing] the interests between all parties involved” though stabiliz[ing] our platform’s operations” and “ensuring traders’ assets on our platform,” Mr. Cheung stated that Okex is “making efforts to eliminate the risk of large-scale clawback in the future.”

Are you surprised by the Chinese court’s decision to reject Li Jianfeng’s appeal? Share your thoughts in the comments section below!


Image courtesy of Shutterstock


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The Weekly: Coinbase Increases Limits, Shapeshift Acquires Bitfract, Okex Launches Coinall

The Weekly: Coinbase Increases Limits, Shapeshift Acquires Bitfract, Okex Launches Coinall

In this week’s daily editions of Bitcoin in Brief we reported about Coinbase increasing trading limits, Shapeshift acquiring Bitfract, Okex launching a white label platform called Coinall, and much more. The most commented-on article during the week covered the ‘Rich Dad, Poor Dad’ author, Robert Kiyosaki, which came out in favor of cryptocurrencies.

Also Read: Opera Browser Opens Its Built-in Cryptocurrency Wallet to Desktop Users

New Education Centers

The Weekly: Coinbase Increases Limits, Shapeshift Acquires Bitfract, Okex Launches CoinallA number of new academic education centers around the world devoted to the research of the technology behind cryptocurrency were featured on Monday. China Internet Nationwide Financial Services Inc. (NASDAQ: CIFS), a financial advisory services provider, has reached an agreement with Tsinghua University to establish an “Industry Trusted Blockchain Application Technology Joint Research Center”. The Istanbul Blockchain and Innovation Center was inaugurated at Bahçeşehir University. And Seven Stars Cloud Group, Inc. (NASDAQ: SSC), the fintech firm of Chinese media tycoon Bruno Wu, has announced that it will be establishing its global headquarters for technology and innovation, called Chain Valley, in Connecticut, transforming a Uconn campus into a center for research.

Robinhood Crypto Expands Service

On Tuesday, we reported that Robinhood, the US stocks app, has added another two states where cryptocurrency trading is now supported for its clients, Iowa and Georgia. The app also now supports Ethereum Classic (ETC), in addition to its previous offering of BTC, BCH, ETH, LTC and Doge. In total, Robinhood Crypto is now available in 19 US states. Additional stories included a Chinese user of Okcoin who is suing the exchange over his missing bitcoin cash following last year’s fork and a cybersecurity research that found trading venues experienced a massive surge of user data leaks.

Coinbase Increases Trading Limits

The Weekly: Coinbase Increases Limits, Shapeshift Acquires Bitfract, Okex Launches CoinallThe main story on Wednesday covered a few new developments at Coinbase. Users are now able to buy digital coins right after they deposit funds from their bank account, cutting down a process that took days of waiting before. The company also announced an increase of the daily trading limits for US users, and for verified customers, the maximum allowable purchase will jump from $25,000 weekly to $25,000 per day. The exchange also noted that once the funds are transferred, there are no longer any limits to how much users can buy or sell at a time. The exchange also informed its clients of the completion of its final testing for the addition of ethereum classic (ETC).

Shapeshift Acquires Bitfract

A couple of investments by established crypto companies made headlines on Thursday. Shapeshift completed the acquisition of Bitfract, a software firm which recently developed a service that allows users to swap from one cryptocurrency to many in an instant. Following the sale, the tool will be maintained and continue to operate, and the functionality that the platform provides (multiple output transactions) will be incorporated into Shapeshift’s core platform. Bitmain made a $3 million seed investment in Tribeos – a digital advertising platform built on Bitcoin Cash (BCH), utilizing smart contracts to fight ad fraud.

Okex Launches White Label Platform

The Weekly: Coinbase Increases Limits, Shapeshift Acquires Bitfract, Okex Launches CoinallOn Friday, we reported that Okex launched a new platform called Coinall, a white label solution which is part of its Open Partnership program that started a couple of months ago. Participants in the Open Partnership program will now be able to take advantage of a variety of services offered by the exchange, including its clearing system, cold and hot storage, applicable anti-money laundering (AML) and know your customer (KYC) procedures. Developers also claim that it is an autonomous, community-run crypto-trading platform.

Crypto Expected at 5% of US Investments

A study that found that digital coins are becoming a permanent part of many investment portfolios was featured on Saturday. The Harris Poll survey, conducted on behalf of the American Institute of CPAs (AICPA), has established that cryptocurrencies will represent 5 percent of the investments of those 35 percent of Americans that consider themselves investors or plan to invest in 2019. At the same time, the study found that “cryptocurrency appears to be foreign to many investors. According to the survey, nearly half of U.S. adults (48 percent) are not familiar with Bitcoin, Ethereum, or Litecoin.”

Rich Crypto Dad, Poor Fiat Dad

The Weekly: Coinbase Increases Limits, Shapeshift Acquires Bitfract, Okex Launches CoinallThe most commented-on article during the week covered the author of the best-selling book ‘Rich Dad, Poor Dad’, Robert Kiyosaki, which has spoken in favor of cryptocurrencies during a recent podcast. Mr. Kiyosaki described the fiat US Dollar as a government “scam” and predicted that precious metals and cryptocurrencies will outlast fiat currencies as the people’s money. Join the discussion.

This Week in Bitcoin Podcast

Catch the rest of this week’s news in the This Week in Bitcoin podcast with host Matt Aaron.

What other stories in the Bitcoin world caught your attention this week? Share your thoughts in the comments section below.

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The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

Covered in The Daily on Friday are several announcements crypto users may find interesting. Ledger has added support for 8 new coins and crypto exchange Okex is launching a white label platform. Also, Exmo will offer its European users faster payments and transfers in partnership with Mistertango, and Estonian startup Citowise has integrated credit card purchases for crypto in its Android app.

Also read:  Shapeshift Acquires Bitfract, Bitmain Invests in Tribeos

Ledger Adds Support for 8 New Cryptocurrencies

Popular hardware wallet provider Ledger has added support for third party applications developed for eight new digital assets to its Ledger Nano S device. From now on, the company will announce new additions on the first Tuesday of each month, in order to streamline app validation.

Starting this week, the Ledger Live application for Ledger Nano S offers the following new coins: Poa, Icon, Vechain, Wanchain, Ontology, Kowala, Particl, and RSK, the company announced in a tweet. Ledger developers have also provided a link to their roadmap for planned releases and other useful details published on Trello.

In a blog post, the team behind Ledger notes that the validation process for third-party apps will be simplified with clearer guidelines, giving developers more comprehensive guidance on security good practice, device applications interface, experience, and design requirements.

The new applications will be available for installation on Ledger devices through Ledger Live. However, the coins won’t be directly compatible with the native app and initially customers will have to use a compatible third-party wallet to perform transactions. “Ledger Live will gradually incorporate full support for third-party applications to enable Ledger users to not only install, but also transact with these new crypto assets directly from Ledger Live,” the company explains.

Okex Launches White Label Platform

Crypto exchange Okex has announced the launch of its new Coinall platform, a white label solution which is part of its Open Partnership program that started a couple of months ago. “The launch of CoinAll, the 1st exchange under Open Partnership Program, symbolizes a new era to build a community- and project-centric open exchange, unveiling an exciting new chapter in the blockchain industry!” the Chinese-run company posted on Twitter.

Participants in the Open Partnership program will now be able to take advantage of a variety of services offered by the exchange, including its clearing system, cold and hot storage, applicable anti-money laundering (AML) and know your customer (KYC) procedures. Coinall developers also claim that it is the first autonomous, community-run crypto-trading platform.

Coinall has released 10 billion CAC tokens, 51% of which will be allocated as rewards to users. The other 49% are reserved for the founders of the exchange and the members of the Open Partnership program. Currently, the platform offers trading pairs of CAC with bitcoin core (BTC), ethereum (ETH), and tether (USDT).

Exmo Introduces Faster Payments with Mistertango

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with MistertangoThanks to a newly announced partnership with Lithuania-based payments provider Mistertango, European crypto exchange Exmo will offer its users the opportunity to make instant deposits and withdrawals in EUR. Traders will also be able to make Single Euro Payment Area (SEPA) transfers which translates into faster payments.

The Mistertango payment account will allow Exmo users to fund their crypto-related activities using fiat currency. The account comes with an IBAN number, offering the ability to instantly transfer money via SEPA, and a prepaid Mastercard as well. According to a press release, the Lithuanian company already works with more than 100 cryptocurrency exchanges and intends to expand further in the crypto space.

Estonian Citowise Offers CC Purchases of Cryptos

Crypto wallet provider Citowise is now offering users the option to buy cryptocurrencies with Visa, Mastercard and American Express debit/credit cards. The newly integrated function in its Android app currently supports purchases of bitcoin core (BTC) and ethereum (ETH), with plans to add other cryptos in the future, including bitcoin cash (BCH), litecoin (LTC), ripple (XRP), and NEO. In a blog post, the team promises that the functionality will also be available on iOS soon.

The Daily: Ledger Adds Coins, Okex Launches Coinall, Exmo Partners with Mistertango

In order to buy cryptocurrencies with their bank cards, users need to pass KYC and AML verification, a service provided by a third party – Citowise’s partner company Transcoin. The purchasing limits for this option are set at €32,000 (~$36,600) per month. The total can be spread over a maximum of four credit or debit cards, the company notes. The app of the Tallinn-based startup also supports purchases of cryptocurrencies with SEPA payments. In this case, the monthly limit is €200,000 and the daily is €40,000.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, Ledger, Okex, Exmo, Citowise.


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Okex Socializes Loss From Over $400 Million Bet Among BTC Futures Traders

Okex Socializes Loss From Over $400 Million Bet Among BTC Futures Traders

Anyone getting involved with leveraged trading must assume upon themselves the risks associated with the potentially highly rewarding practice. A recent event should remind traders that, sometimes, even when the trade goes your way, you can still take a hit. Okex socialized one trader’s massive loss on BTC futures with a clawback.

Also Read: The Weekly: China Hires Cryptographer, McDonald’s Unveils Maccoin, Bitmain Gets Richer

Forced Liquidation

Okex Socializes Loss From Over $400 Million Bet Among BTC Futures TradersOkex, the Chinese-run cryptocurrency exchange based in Hong Kong, has announced on Friday that “an enormous long position” in BTC0928 futures contract was force-liquidated on July 31, 2018. And due to the sheer size of the order, worth over $400 million, the uncovered loss (about $9 million) will need to be socialized with a clawback.

According to the venue’s societal loss risk management mechanism, when the insurance fund cannot cover the total margin call losses, a full account clawback occurs. In such case, users who have a net profit across all three contracts for that week will be subject to the clawback. “We will take a portion of the profit in equal percentage from all profited traders only to cover the difference between the liquidated price and settled price.”

Incident Report

Detailing the incident, the exchange wrote that: “client with user ID 2051247 initiated an unusually large long position order (4168515 contracts) at 2am on July 31 (HKT) and triggered our risk management alert system. Our risk management team immediately contacted the client, requesting the client several times to partially close the positions to reduce the overall market risks. However, the client refused to cooperate, which lead to our decision of freezing the client’s account to prevent further positions increasing. Shortly after this preemptive action, unfortunately, the BTC price tumbled, causing the liquidation of the account.”

The Okex team added that: “In order to prevent socialized clawbacks from occurring, we have been working really hard to optimize our risk management system, such as launching price limit rules, early forced liquidation system, forced liquidation order price adjustment and more. There have been malicious rumors accusing us of manipulating the forced liquidation system. We hereby would like to point out the fact that, most of the similar price movements in the market are caused by forced liquidation orders.”

Won’t Happen Again?

Okex Socializes Loss From Over $400 Million Bet Among BTC Futures TradersIn order to reduce the market risks induced by this incident, Okex said it is injecting 2500 BTC from its own capital pool into the insurance fund and will monitor the settlement to prevent manipulation attempts. These actions will help reduce the socialized clawback ratio of the week.

The exchange also announced it will implement a series of risk management enhancements, which are meant to prevent any similar cases from occurring again. These include a new anti-manipulation policy; a mark price to be released at the end of August; a tiered margin system & optimized process of forced liquidation and an optimization of insurance fund usage to be released in September.

Is this a fair way for a trading platform to handle such situations? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


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Markets Update: Monster Liquidations and Flash Crash Fear

Markets Update: Monster Liquidations and Flash Crash Fear

For more than six months of 2018, cryptocurrency markets have been extremely bearish considering the massive bull run in 2017. Last month many digital asset prices performed better than they had in months and some enthusiasts thought crypto markets might be on the mend. However, bitcoin markets and many other cryptocurrency values have started to slide and some traders and analysts believe the storm may get much worse.

Also Read: The Bitcoin Cash Network Processed 687,000 Transactions on August 1st

Watch Out  Cryptocurrency Prices Can Invalidate Your Trading Position In a Matter of Minutes

Cryptocurrency bears, love them or hate them, exist in great magnitude this year, for as everyone knows, digital assets have been in a slump. Many cryptocurrencies seemingly have hit the ‘bottom’ at least three times so far, but that may not hold true for very long. A market bottom is what’s considered the lowest the price of a cryptocurrency will go for a period of time until markets rise in value again. For instance, BTC/USD prices touched a high of $19,600 per coin last December and since then BTC values have dipped to roughly $5,700 per BTC a few times. This has led some people to believe that the $5,700 region is the bottom, at least for now, unless things go southbound during a flash crash. Many respected cryptocurrency traders have different types of views when it comes to what will happen next in the land of digital currency markets.  

One respected digital asset trader called Mr. Jozza details that right now bitcoin markets are not looking very nice. “The bitcoin market is ugly,” Mr. Jozza emphasizes. “It completely invalidated my previous bullish interpretation. No follow through on break up of a bearish trend.”

While Okcoin 415 mm contract liquidation sits on the books, expecting $7200 test for support.

Markets Update: Monster Liquidations and Flash Crash Fear
Chart by Mr. Jozza on August 2, 2018.

Are High-Frequency Trading Firms Joining the Party?

Another respected trader and administrator of the large Telegram trading chat room Whale Club, BTCVIX, says High-Frequency Trading (HFT) firms are trading bitcoin.

“Hey crypto trading noobs — this pattern look familiar? The Judas candle — yeah BTC moves more and more like forex every day — you have the same forex HFT firms joining the BTC party,” BTCVIX details on August 2.

Markets Update: Monster Liquidations and Flash Crash Fear
Chart by BTCVIX on August 2, 2018.

The Greatest Danger in Crypto: Flash Crashes

Because of the volatile movements over the last few days, digital asset margin traders on exchanges like Okex and Bitmex have literally been getting ‘rekt.’ Three days ago on July 31, the exchange Okex liquidated more than $400 million USD worth of Bitcoin futures contracts from just one customer. Two days later the well-known cryptocurrency trader Philakone explained to his 100,000 Twitter followers that people should be careful of ‘flash crashes’ in crypto markets, especially when trading with leverage.

“Here are my positions — I’ve set aside another $200K now in my margin that I can play just in case something violent like a flash crash happens — Always be mindful of that,” Philakone emphasizes.

Always remember the greatest danger in crypto: Flash crashes. If you forget about this, it’s not good. It could happen only ONE time for you to destroy your crypto career. I’ve been there. Be careful baby whales.

On August 1 the respected cryptocurrency analyst Willy Woo explained to his Twitter followers that he thinks BTC will “flash dump, then moon” during a global banking crisis. People believe the analyst because Woo has predicted cryptocurrency variances correctly a few times in the past.

Markets Update: Monster Liquidations and Flash Crash Fear“Interesting to see most think BTC will moon,” Woo details. “I think BTC will flash dump, then moon afterward, just like with Gold in WFC 2008.”

Flight to safety: everything else sells off to USD, then used to unwind leveraged positions, then afterward havens like Gold and BTC have a bull run.

“Probably also contingent on how many institutional players are in the BTC market over that period. Normal retail HODLers won’t tend to have large leveraged positions to unwind from, apart from maybe mortgages,” Woo notes.

Markets Update: Monster Liquidations and Flash Crash Fear
Chart by Willy Woo on July 27, 2018. 

The Last Dead Cat Bounce? Short Positions Begin to Pile Up Before the Weekend Trading Sessions

Currently, most cryptocurrency markets are still in the red seeing losses over the last 24 hours. Bitcoin core (BTC) has been trading between $7,250-7,520 over the last day, while bitcoin cash (BCH) is swapping for $660-740 per coin. Both markets have seen consistent drops in trade volume (BCH $375M, BTC $4.4B), and billions shaved off their market capitalizations. Many leverage traders lost their shirts over the last three days due to margin liquidations, as there were some very quick drops in value this week. As we approach the weekend short contracts are already starting to pile up on Bitfinex, Kraken, and Bitmex once again.

Markets Update: Monster Liquidations and Flash Crash Fear

The last few weeks of gains gave traders a breath of fresh air, but the bullish sentiment didn’t last long. Unlike the slew of Wall Street bigwigs that believe bitcoin will touch $50K or zero by the year’s end, there are many traders out there who are more in touch with reality and telling people they should trade carefully.

Where do you see the price of BTC, BCH and other cryptocurrencies headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”


Images via Shutterstock, Pixabay, and the various traders mentioned above on Twitter.


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Bitcoin Price Retreats 2% as Crypto Market Continues Decline, $8 Billion Dropped

In the past 24 hours, the crypto market dropped $8 billion as major digital assets including Bitcoin, Ether, and Bitcoin Cash recorded losses in the range of two to five percent. Bitcoin Cash and Stellar recorded the largest losses amongst the top ten cryptocurrencies, while Ripple and EOS remained relatively stable with a one percent

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OKEx Initiates ‘Clawback’ after Bitcoin Futures Market Unable to Cover $420 Million Liquidation

OKEx has moved to protect its futures market with an injection of 2500 BTC into the exchange’s insurance fund from its own capital after a forced liquidation on July 31st threatened to destabilize its operations. The futures contract amounted to a staggering $420 million worth of BTC. OKEx moved swiftly to counter this liquidation with … Continued

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Cryptocurrency Exchange Binance Buys Ethereum Wallet Service in First-Ever Acquisition

Binance, one of the world’s two largest cryptocurrency exchanges, has just completed its first-ever acquisition. According to TechCrunch, the Malta-based exchange operator acquired Trust Wallet, creator of the eponymous mobile Ethereum wallet that includes support for ether, as well as ERC-20 and ERC-223 tokens. Terms of the deal have not been disclosed, but Binance confirmed … Continued

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OKEx, Malta Stock Exchange Partner to Develop Security Token Trading Platform

Malta continues to be at the forefront of the crypto space with OKEx, one of the world’s largest cryptocurrency exchanges, announcing a partnership with the Malta Stock Exchange to create a new security token trading platform. The new exchange will operate under the name OKMSX and bring together OKEx‘s expertise in the digital assett market along … Continued

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Malta Stock Exchange to Develop Two New Platforms for Security Tokens

Malta Stock Exchange to Develop Two New Platforms for Security Tokens

The Malta Stock Exchange has separately announced today that MSX, the innovation, digital and fintech arm of the group, will be developing two new platforms for listing and trading security tokens. Neufund is developed in partnership with Binance, and OKMSX in collaboration with Okex.

Also Read: No Insider Trading, Market Manipulation and Misleading Ads – Malta’s New Crypto Law

Neufund

Malta Stock Exchange to Develop Two New Platforms for Security TokensA subsidiary of the Malta Stock Exchange and Binance, Neufund aims to become an end-to-end primary issuance platform for security tokens, equity tokens in particular. It will allow for secondary trading of equity tokens and enable companies from around the world to raise funds in a legal way while offering liquidity. Seven companies are already slated to conduct an Equity Token Offering (ETO) on the platform: Founders Bank, Brille24, Uniti, Myswooop, Next Big Thing, Blockstate and Emflux Motors. A pilot project is promised later in 2018 which is said to include the public offering of tokenized equity on Neufund’s primary market which may later be tradable on Binance and other crypto exchanges pending regulatory and listing approvals.

“We are thrilled to announce the partnerships with Malta Stock Exchange and Binance, that will ensure high liquidity to equity tokens issued on Neufund. It is the first time in history, that security tokens can be offered and traded in a legally binding way. The upcoming pilot project will allow us to test the market’s reaction and realize the overall project idea in an environment with minimized risk,” commented Zoe Adamovicz, CEO and Co-founder at Neufund.

OKMSX

Malta Stock Exchange to Develop Two New Platforms for Security TokensOKMSX is meant to leverage Okex’s digital asset operations and security expertise, along with the Malta Stock Exchange’s 26-year experience in regulatory compliance and client due diligence. It aims to develop an institutional grade security-tokens trading platform. The two parties say they strive to finalize the joint venture by Q3 2018 and that this new platform will launch by Q1 2019 to service clients globally from Malta.

“Malta is taking the helm of regulating the blockchain technology and cultivating a regulated cryptocurrency and ICO epicentre. This joint venture marks our confidence in the Maltese government as well as our commitment to providing an efficient, secure, and transparent blockchain trading environment to clients worldwide. We believe OKMSX will be a milestone in the economic development of Malta,” said Tim Byun, Chief Risk Officer and Head of Government Relations of Okex.

“Today Malta opened up a way for legally binding listing and trading of tokenized securities. We are proud of Malta Stock Exchange to enter a partnership with a worldwide leader in primary offerings on blockchain such as OKEx. I look forward to the fruitful collaboration in the future,” commented Silvio Schembri, the Maltese minister for Financial Services, Digital Economy and Innovation.

Are security tokens listed on stock exchange-backed platforms really more safe to invest in? Share your thoughts in the comments section below.


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