Order Speed Analysis Reveals the Fastest Cryptocurrency Exchanges

Order Speed Analysis Reveals the Fastest Cryptocurrency Exchanges

When you’re trading digital assets, speed matters — particularly so if you’re engaged in high-frequency trading, when every millisecond counts. Executing orders a fraction of a second ahead of the market can mean the difference between profit and loss. New data reveals which cryptocurrency exchanges are the fastest — and which are struggling to keep up.

Also read: Cypherpunk Essentials: A Beginner’s Guide to Crypto Privacy

Speed Analysis Shows Significant
Variation Between Platforms

Data provided by Deribit shows marked differences in the speed at which six leading cryptocurrency exchanges fulfill orders. The derivatives exchange looked at three major spot exchanges: Bitfinex, Binance and Coinbase. It also examined three major crypto derivatives exchanges: Bitmex, Okex and its own platform. It should be noted, however, that Deribit has an incentive to share its analysis, as it recorded the fastest order execution in tests.

The most liquid pair on each exchange was tested to determine the time it takes to add a limit order and execute a market order. Most of the exchanges that were tested failed to achieve either task in under 10 milliseconds, with Okex faring the worst.

Order Speed Analysis Reveals the Fastest Cryptocurrency Exchanges
Speed analysis for Bitmex

Order speed doesn’t normally concern retail investors, who aren’t reliant on split-second execution when buying and selling assets. However, it matters a lot to professional traders, particularly on Wall Street, and increasingly in the cryptocurrency markets, too. On derivatives exchanges such as Bitmex and Deribit, where cryptocurrencies such as BTC can be traded with up to 100x leverage, timing is everything. And for trading strategies dependent on a fast response to market news, order speed can prove crucial. Many financial brokers base their entire business model around high-frequency trading, relying on algorithmic trading aided by low latency, high speeds and high order-to-trade ratios.

Order Speed Analysis Reveals the Fastest Cryptocurrency Exchanges
Logarithmic results for all six exchanges tested

Derivatives Exchanges Are Quicker Than
Their Conventional Counterparts

Deribit has invited interested parties to download its speed analysis data and inspect it for themselves, to verify its findings. Describing its methodology, the platform wrote:

We measured the time from the initial request until the confirmation that the order had been placed. To compensate for network delays outside the control of the exchange, we recorded the latency for a trivial API request. The duration for these requests was subtracted from the duration of the order requests. The remaining time is assumed to be the true execution
time for a request.

The exchange claimed that it conducted all of the tests on machines that were situated as close as possible to the exchanges in question. The results were as follows:

  • Binance’s average order execution delay was 37.2 milliseconds, with 0.1 percent of orders executed within 10 milliseconds.
  • Bitfinex’s average order execution delay was 156 milliseconds, with 0 percent of orders executed within 10 milliseconds.
  • Bitmex’s average order execution delay was 1.11 seconds, with 13.4 percent of orders executed within 10 milliseconds.
  • Coinbase’s average order execution delay was 33.0 milliseconds, with 0.2 percent of orders executed within 10 milliseconds.
  • Deribit’s average order execution delay was 6.1 milliseconds, with 89.6 percent of orders executed within 10 milliseconds.
  • Okex’s average order execution delay was 127 milliseconds, with 0 percent of orders executed within 10 milliseconds.
Order Speed Analysis Reveals the Fastest Cryptocurrency Exchanges
Speed analysis results for Deribit

Competition between exchanges is fierce, especially among those that offer the high risk and reward cocktail that is derivatives. While there’s a lot more to successful margin trading than speed, its significance is sure to grow as competition intensifies and traders are forced to fight for that all-important edge.

Do you think speed matters on derivatives exchanges such as Bitmex and Deribit? Let us know in the comments section below.


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As Tether Loses USD Peg, OKEx Will List ‘Regulated’ Cryptocurrency Stablecoins

If tether (USDT) is truly backed by and redeemable for physical U.S. dollars stored in company-controlled bank accounts, the so-called cryptocurrency “stablecoin” should manage to weather this period of uncharacteristic volatility until arbitrage restores its USD peg. If not, we could be witnessing the unraveling of the token that sees more daily trading volume than

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Exchanges Roundup: Yobit Unveils Random Coin Pump, Okcoin USA Plans Stablecoin

In recent news pertaining to crypto exchanges, Yobit has announced a “random coin” pump for Oct. 11, the founder of Okgroup has announced Okcoin USA’s plan to launch a stablecoin, and Coinbase’s chief policy officer has predicted that the exchange will attain Japanese regulatory approval by 2019.

Also Read: A Bitcoin Rat Is Occupying Wall Street

Skepticism on Twitter over
Aggressive Yobit Campaign

Yobit, the shadowy Russian cryptocurrency exchange, has announced an upcoming “Yobit Pump” scheduled for 9 a.m. EDT on Oct. 11. According to Yobit’s Twitter, the pump will see Yobit purchase one random coin for 1 BTC every one to two minutes, 10 times.

The comments section beneath the tweet shows a predominantly critical reaction to an aggressive promotional campaign premeditated by an exchange that’s already mired in controversy. Last year, Forbes Ukraine reported that Roskomnadzor, the Russian telecommunications regulator, had launched juridical proceedings against Yobit, with Roskomnadzor seeking to block Russian IP addresses from accessing the exchange.

In 2016, Waves also published a warning pertaining to Yobit after the exchange listed a waves/BTC pairing, even though users were unable to withdraw the cryptocurrency from private Waves wallets at the time.

Okgroup Founder Vows Full Compliance
with Planned Stablecoin

Exchanges Roundup: Yobit Random Coin Pump, Okcoin USA StablecoinStar Xu, the founder of Okgroup, has announced that Okcoin USA is planning on entering the stablecoin market.

In a recent tweet, Mr. Xu posted: “Embracing the tide of technology, the launch of a #CNY backed #stablecoin is an inevitable trend, and it will significantly improve the internationalization of the RMB. OKCoin USA will launch a fully compliant stablecoin.” Xu added that “the dollar-pegged #stablecoin regulated by the U.S. government will strengthen the penetration of the U.S. dollar 100 fold.”

Xu also spoke in favor of stablecoins, stating: “Stablecoins are in essence electronic cash. They have the same attributes. The central bank issues the currency and then it is distributed peer-to-peer. The difference is it’s electronic. Today, the amount of cash in China’s domestic monetary system is not small.”

Coinbase Executive Optimistic About Securing Regulatory Approval in Japan

Exchanges Roundup: Yobit Random Coin Pump, Okcoin USA StablecoinIn a recent interview with Nikkei Asian Review, Mike Lempres, the chief policy officer of Coinbase, optimistically discussed the exchange’s desire to obtain regulatory approval to operate in Japan.

Lempres stated that talks are “going well” with Japan’s Financial Services Authority, adding: “We are … committed to getting it done. It will certainly be in 2019.”

Lempres also spoke favorably of the Japanese regulatory system relating to cryptocurrencies. “The Japanese government is more focused on security,” he explained. “That is good for us … Japan has been an active large market from the very beginning, and has proved resilient as it bounces back from several bad experiences. We think there is great demand for a trusted provider of services here.”

Despite his praise for Japan’s crypto regulations, Lempres noted that there are still several issues to be resolved, including whether or not the regulator would require Coinbase to manage its systems from within Japan in order to obtain a license. “We have everything built to protect our storage … in the U.S,” he stated. “We won’t do anything to even raise (the) possibility of a hack. It would be hard for us to duplicate what we do in the U.S. today in Japan and other countries.”

What is your response to Yobit’s random coin pump? Share your thoughts in the comments section below!


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New Venture Capital Fund Secures $100M to Invest in Crypto Startups

New Venture Capital Fund Secures $100 Million to Invest in Crypto Startups

Dragonfly Capital Partners, a new crypto-focused venture capital firm, has announced the launch of its first $100 million fund dedicated to investments in crypto assets. Its investors include Okex, Bitmain and other well-known names in the industry.

Also Read: Exchanges Roundup: Coinbase Volumes Hit 1-Year Low, UK Exchange to Fire Most Staff

Meet Dragonfly Capital Partners

New Venture Capital Fund Secures $100 Million to Invest in Crypto StartupsDragonfly promises to invest in three types of assets: crypto-native funds, “pick-and-shovel” tech startups and decentralized protocols and applications. It launches with a portfolio of more than 20 investments, including cryptofunds and asset managers, the stablecoin Basis, Spacemesh and Oasis Labs.

The founding team is led by managing partners Alexander Pack and Bo Feng. Pack previously managed crypto and fund investing for Bain Capital Ventures and was a general partner investor in Polychain Capital. Feng is the founding partner of Ceyuan Ventures and the largest investor in Okex, among many other ventures.

“Throughout our years of investing in crypto at our respective VC firms, we realized how difficult it is for incumbent investment firms to participate in this tech trend. The issue is that crypto is not just a new technology but a new tech-driven asset class, something we haven’t witnessed in decades,” said Pack. “A new asset class calls for a new breed of asset manager. That’s why we launched a crypto-dedicated fund and why we invest in other cryptofunds.”

Bringing East and West Together

New Venture Capital Fund Secures $100 Million to Invest in Crypto StartupsDragonfly claims to have identified a market opportunity to “bridge the gap between East and West in the crypto economy,” and thus has attracted investors from throughout the U.S. and Asia.

American investors include Salil Deshpande (Bain Capital Ventures), Marc Andreessen and Chris Dixon (A16Z), Cyan Banister (Founders Fund) and Olaf Carlson-Wee (Polychain Capital). Asian investors include Neil Shen (head of Sequoia China), Eric Xu (founder of Baidu), Bob Xiaoping Xu (founding partner of Zhenfund), Zhang Tao (chairman and founder of Meituan-Danping), Bao Fan (founder and CEO of China Renaissance Bank), Cai Wensheng (founder and chairman of Meitu), Justin Tang (founder and CEO of X Financial, elong), JP Gan (Qiming Venture Partners), and Annie Xu (head and general manager of Alibaba U.S.).

“I see a parallel between the internet boom in the ’90s and the current cryptocurrency market opportunity,” said Feng, who was one of the first venture investors on the internet. “The crypto revolution may be even bigger than the internet and more global. We take an ecosystem approach, investing in fund managers around the world and connecting the top technologists from the West to the largest crypto companies and user bases in Asia.”

Is it good for big players to invest in new crypto startups? Share your thoughts in the comments section below.


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Markets Update: Digital Asset Consolidation and Accumulation Continues

Markets Update: Digital Asset Consolidation and Accumulation Continues

On Saturday September 29, cryptocurrency prices are meandering along after an interesting two weeks of ups and downs. Since last week’s crypto market dips, digital asset markets have been seemingly less volatile and many cryptocurrencies are following a tight wedge formation indicating a possible accumulation phase.

Also read: Ebang Announces 44 Terahash E-11 Miners With 10nm Chips

The Cryptocurrency Economy Gains US$13 Billion This Week

The weekend is here and digital asset traders are trying to figure out what’s next in the land of crypto trading. There’s been some improvement since our last markets update four days ago as the entire crypto-economy at the time was valued at US$210 billion. Today, thanks to gains stemming from ethereum, ripple, and bitcoin cash, the overall market capitalization has gained over $13 billion as it currently rests at $223.7 billion. The top assets today with the most 24-hour trade volume include bitcoin core (BTC), tether (USDT), ethereum (ETH), ripple (XRP), eos (EOS), and bitcoin cash (BCH).

Markets Update: Digital Asset Consolidation and Accumulation Continues
Top ten digital asset markets on Saturday, September 29, 2018.

Bitcoin core (BTC) prices are hovering around $6,587 today, but markets are down 0.86 percent over the last 24-hours, and 1.5 percent for the week. BTC has an overall market valuation of around $113 billion and trade volume is meandering around $4.6 billion this weekend. Ethereum (ETH) is up 3.6 percent this Saturday and one ETH is trading for $232 per coin at press time. Ripple (XRP) markets have seen a 7.5 percent gain over the last 24-hours and 0.11 percent over the week. XRP is trading for $0.56 per coin and the market valuation for ripple today is $22.7 billion. Lastly, eos (EOS) has lost 0.96 percent today and 2.86 percent for the last seven days. One eos is swapping for $5.75 per token with a market capitalization of around $5.2 billion.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) markets are continuing to do well this week as prices have gained 13 percent over the last seven days. However, BCH markets over the past 24 hours are down 0.18 percent leading to a price of around $542 per BCH. Currently, the market capitalization for bitcoin cash hovers around $9.42 billion and trade volume is about $639 million at the time of publication. The top five BCH swapping exchanges this weekend are Lbank, Hitbtc, Okex, Binance, and Coinex. The top currency pairs traded with bitcoin cash this weekend include USDT (39.9%), BTC (32.9%), ETH (13%), USD (7.5%), and KRW (2.8%).

Markets Update: Digital Asset Consolidation and Accumulation Continues
BCH/USD seven-day Satoshi Pulse, 9-29-18.

BCH/USD Technical Indicators

Looking at the 4-hour trading view charts on both Bitfinex and Bitstamp shows BCH bulls may be showing a bit of exhaustion after the spike a few days ago. The Macd indicator (4-H) shows bulls have leveled some upper resistance as the price approached oversold territories yesterday. Both momentum oscillators on the 4-H BCH chart indicate some bullish charges continue as RSI (-58.4) and Stochastic (-22.4) show room for more improvement today.

Markets Update: Digital Asset Consolidation and Accumulation Continues
BCH/USD 4-hour Bitfinex, 9-29-18.

The two simple-moving-averages (SMA) trendlines look as though a crossover trend could take place over the next 24 hours. However, the SMA 200 is still above the 100 SMA indicating the path towards the least resistance is still the downside. Order books towards the upside show heavy opposition from now up until $575; from there on, books show smoother seas. On the backside, if bears manage to claw price down some more we can see strong foundational support from the current vantage point and until $488. There also appears to be a massive wall holding from $485 through $470.

Markets Update: Digital Asset Consolidation and Accumulation Continues
BCH/USD daily Bitfinex, 9-29-18.

The Verdict: While Traders Wait for Higher Highs in 2018, Some Envision Momentum Building in the Fourth Quarter

There’s been a lot going on in the cryptocurrency world but this week’s headlines were definitely far less negative than last week’s crypto news. In the US a federal judge on Sep 26 declared that all cryptocurrencies should be viewed as commodities which in turn provides the Commodity Futures Trading Commission (CFTC) with the ability to charge digital currency projects with fraud. A few cryptocurrency analysts and industry executives are still positive we will see a bull run by the year’s end.

As 2018’s fourth quarter begins, Naeem Aslam, chief market analyst at Think Markets UK, says he sees momentum increasing again. “September is coming to an end and a very interesting quarter is about to start. Does it remind you of anything? Oh yes, it reminds me of last year’s bull rally,” wrote Aslam on Friday. The Think Markets researcher adds:

It appears to me that a similar momentum could be building up again — This must be music to those who are suffering from heavy losses in the crypto market.  

Speaking in an interview at the Consensus: Singapore 2018 event, Changpeng Zhao (CZ), CEO at Binance, also thinks the bull market will return and cautiously says cryptocurrency prices usually spike during fourth quarters. CZ emphasized during the interview:

I think that any minute the bull market will return, and historically, October to December are the good months — Before Christmas are usually the months when the markets go up very often, but I am not saying that it will this year, or that it will not.  

Where do you see the price of Bitcoin Cash and other coins 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.”


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Securing a Major Exchange Listing Is No Guarantee of Success

Securing a Major Exchange Listing Is No Guarantee of Success

It is widely assumed that securing listing on a major cryptocurrency exchange will ensure an altcoin’s long-term success. Many ICO buyers and project leaders believe this to be pivotal in determining their token’s fate. A look at the demand for less popular tokens on major exchanges, however, reveals this notion to be false.

Also read: Ebang Announces 44 Terahash E-11 Miners With 10nm Chips

Big Exchanges Aren’t All They’re Cracked Up to Be

Securing a Major Exchange Listing Is No Guarantee of Success“When Binance?” is the refrain of token-holders in Telegram groups. To many ICO teams, securing a major exchange listing is the holy grail, the pinnacle of achievement. The liquidity, validation, and credibility that a tier-one exchange provides is instrumental in advancing projects to the next stage. The guaranteed pump that heralds listing on an exchange such as Binance is also welcomed by token-holders, who relish the chance to offload their assets and pass them on to the next wave of traders.

But when the bright lights that accompany a major exchange listing have faded, and the excited Telegram chatter has dropped to a murmur, the hard work begins. Creating a project whose token has long-term value and capable of generating demand is tough. A lot of project leaders simply don’t have what it takes to stick the course and put in the hard work, community building, protocol enhancing, and partnership forging. Toasting your exchange listing is easy. Ensuring your token justifies remaining exchange listed is tough.

Tier-One Exchanges Provide Liquidity – Not Demand

There are many things that a tier-one exchange such as Okex, Huobi, or Binance can provide, not least liquidity. With so many other assets readily available, including ETH and BTC trading pairs, slipping in and out of a particular token is easy. But one thing these platforms cannot generate is demand. There needs to be a reason for traders to want to purchase a particular asset, and that’s where a lot of projects falter.

Binance saw $1.3 billion traded in the past 24 hours, including $42 million of EOS and $20 million of stellar. Work your way further down the list of traded tokens, however, and you’ll find hundreds of tokens that captured between 0% and 0.01% of the platform’s total trading volume. In the last 24 hours, just $71,000 of QLC Chain (QLC/BTC) was traded and only $12,000 of Bread (BRD/ETH). With Binance’s less popular trading pairs, there are dozens of assets with even lower volume: in the case of VIA/BN and RLC/BNB, just $742 and $549 respectively.

Securing a Major Exchange Listing Is No Guarantee of Success
Some of the least popular trading pairs on Okex

Many Altcoins on Major Exchanges Have No Volume

On Okex, the low volume markets look even worse than those on Binance. Many of the 500+ trading pairs listed on the Hong Kong exchange have zero or single digit volume. In the last 24 hours, just $1 of Unikoin Gold (UKG/ETH) was traded and a grand total of $4 of Change (CAG/BTC and CAG/USDT). In fact, 50% of all trading pairs on Okex recorded less than $35,000 of volume in the last 24 hours.

Securing a Major Exchange Listing Is No Guarantee of Success
Given the cost of securing a major exchange listing, ICOs may conclude that the juice isn’t worth the squeeze.

Huobi, the third largest exchange in the world after Binance and Okex, fares marginally better, but its least popular pair (ADX/ETH) still struggles to break the $1,000 threshold. At Bitfinex, the world’s fourth largest exchange, the ultra-low volume is particularly severe: $79 of Aragon (ANT/USD and ANT/BTC) was traded in the last 24 hours, $166 of Everipedia, and $66 of PAI/USD.

Many of the prestigious exchanges mentioned here charge listing fees that run into the hundreds of thousands of dollars. Tokenized projects eyeing a tier-one exchange would do well to note the fate of coins that were added to them in the last six months. For every altcoin that has found traction, there are a dozen more that are dead in all but name. Major exchange listing is no guarantee of success.

Why do you think there are so many dead coins on major exchanges and do you think the worst performers should be delisted? Let us know in the comments section below.


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Markets Update: Despite Negative Headlines – Crypto-Prices Continue to Rise

A few days ago digital asset markets saw some good gains pushing the entire crypto-economy up past $229 billion. Both bitcoin cash (BCH) and bitcoin core (BTC) had nice percentage spikes with BCH up 13 percent, and BTC up 3.5 percent over the last week. However, the biggest gainer this week was ripple (XRP) jumping over 103 percent over the course of the past seven days.

Also read: Bitcoin Glyphs Added to Apple’s Shortcuts Application

Cryptocurrency Markets Rebound and Consolidate

It was a weird week in cryptocurrency land, to say the least. During the last seven days, digital asset enthusiasts heard about the Securities Exchange Commission’s (SEC) deciding to hold off on the Vaneck/Cboe ETF decision until they get further commentary. Then a critical exploit that could have caused massive inflation was found in the Core reference client (and many other implementations) by a BCH developer. Lastly, the Japanese exchange Zaif revealed this week it lost close to 6000 BTC in a hack. Now one would think all of these things would affect cryptocurrency markets in a negative way. On the contrary, digital currency markets spiked in value as a great majority of coins saw seven-day gains.

The Top Crypto-Markets

Bitcoin core (BTC) markets over the last week are up 3.4 percent (US$6,723) and the cryptocurrency’s market valuation is around $116.2 billion today. Ethereum (ETH) markets shot up pretty good this week as one ETH ($244) has gained 12 percent. Of course, the cryptocurrency crowd witnessed the 103 percent increase ripple (XRP) markets experienced this week. One XRP is valued at $0.56 this Sunday and the coin’s market capitalization is about $22.5 billion. Bitcoin cash (BCH) markets are up 13 percent per BCH ($492) over the last seven days and the currency’s market valuation is about $8.5 billion this weekend. Lastly, EOS is priced at $5.45 and the EOS market performance over the last weeks is up 12.2 percent.

Markets Update: Despite Negative Headlines - Crypto-Prices Continue to Rise

Bitcoin Cash (BCH) Market Action

Bitcoin cash market action today is showing the spot price hovering at $492 per coin but this Sunday BCH is up 3.12 percent over the past 24 hours. Over the last week, BCH dropped to a low of $411 on September 17 and went back to a high of $501 on the 21st. The top bitcoin cash swapping exchanges today are EXX, Lbank, Hitbtc, Okex, and Huobi. The top currency pairs traded for bitcoin cash this weekend include BTC (51.8%), USDT (30.8%), ETH (6.9%), USD (5.1%), and KRW (2.3%). Bitcoin cash markets hold the sixth highest trade volumes today below eos (EOS) and above litecoin (LTC) volumes.

Markets Update: Despite Negative Headlines - Crypto-Prices Continue to Rise

BCH/USD Technical Indicators

The BCH/USD daily and 4-hour charts on Bitfinex and Binance indicate bulls are showing some signs of tiring out. We saw a big spike by the BCH bulls but it hit large resistance as markets gathered near 200 MA and corrected. Today, looking at the BCH/USD 4-hour chart, the 200 Simple Moving Average is above the 100 SMA trendline showing the path towards the least resistance is towards the downside. The 4-H RSI (61.6) shows the bulls may be exhausted and we could see some more sell off before another attempted upper leg jump. Order books show there’s some heavy resistance from here until $570 and another pitstop around the $590-630 range. Looking behind us we can see some foundational support between now until the $425 range and bears will be stopped there for a good period of time.

BCH/USD daily chart 9/23/18.

The Verdict: Despite Some Setbacks, Market Confidence Seems to Be on the Rise

Overall market confidence seems to be on the rise despite the recent BTC inflation bug and the SEC’s recent announcement to push off the decision to approve or deny the Vaneck/Cboe ETF. BTC/USD shorts, however, are very high still with over 30,000 short positions but ETH/USD short contracts have dropped significantly lower after touching their ATH. ETH/USD shorts have been cut from 26,000 on September 17 to just over 12,000 today.

Charles Hayter, the co-founder and CEO of the cryptocurrency data website Cryptocompare, believes last week’s ETH drop shook up market sentiment. “The fall in ethereum has spooked the market,” Hayter details. However, on a more positive note, Hayter emphasizes “there are multiple incumbent financial institutions looking closely at the space.”

Digital asset trade volumes have increased as this weekend has seen trade volume between $13-15 billion USD over the last 48 hours. This weekend’s verdict is far more optimistic than last weekend but it’s likely we will see some heavy consolidation and some corrections before the next level up, unless bears regain their strength.

Where do you see the price of BTC, BCH, and other coins 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.”


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PR: Crypto Exchange Bleutrade Confirms Its Presence In Malta

Crypto Exchange Bleutrade Confirms Its Presence In Malta

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

The company, founded in Brazil, emerged in 2014 in the digital currency market as an innovative Exchange, working with a platform focused to simplify trades among cryptocurrencies. It is also the first Exchange in Latin America and has announced the opening of an office in Malta which takes with it almost 300 thousand users.

“We have spent some time immersed in studies of national legislation, articulated partnerships were selected and established plus we have attended some events herewith the government. Now the Island of Malta will be the scene of a new beginning full of news, “said Marlos Jennis, responsible for Bleutrade’s International Relationships.

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According to Felipe Melo, CEO, this transition arises at a time when the Mediterranean region presents true forms of becoming one of the first centers of world reference for blockchain and cryptocurrencies companies: “We went through a few countries and chose Malta mainly for legal security, which will give us more freedom when starting new services, besides in the island we find human resources with great potential.”

Regulators, in general, have been cracking down on cryptocurrency exchanges since the beginning of 2017, leading to several difficulties in such operations. Following the release of the Prime Minister Joseph Muscat, announcing that Malta ‘aims to be the global trailblazers in the regulation of blockchain-based businesses and jurisdiction of quality and choice for world class fintech companies’, Bleutrade is committed to being a part of this progressive world that will enable the writing of new history for its users.

Bleutrade also plans to add fiat currency ,like Dollar and Euro, to its platform once it is installed in the Mediterranean. The exchange today does not work with the Real currency, but seems to have partnered with the new exchange BitRecife, placed in Brazil, in order to enable crypto transfers without mining fees.

Marcos Vinicius, Bleutrade’s Advisor, affirms that the scenario seeks to a friendly jurisdiction place for the cryptocurrency sector, the key point that led Bleutrade to extend to the island. As Malta presented itself a step ahead of the market trend, it attracted major exchanges from the market such as Binance, Okex and now Bleutrade.

Contat email Address
wanessarossiter@bleu.com.br

Supporting Link
https://bleutrade.com

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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OKEx, OKCoin Founder Star Xu Questioned in Shanghai Fraud Case

Shanghai police have taken OKEx founder and OKCoin CEO Star Xu into custody for voluntary questioning in relation to fraud alleged to have taken place in a relatively obscure crypto project called WFEEcoin. Local media reports that Xu’s possible connection to the project is being investigated. While Xu is allegedly a WFEE shareholder, he denies … Continued

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Binance, Okex, Huobi and Upbit Among Investors in New Stablecoin, Terra

Binance, Okex, Huobi and Upbit Among Investors in New Stablecoin, Terra

Yet another stablecoin is joining the arguably already crowded ecosystem. Terra, as the new fiat-pegged crypto is called, counts four of the biggest cryptocurrency exchanges in the world among its investors, including Binance, Okex, Huobi and Upbit.

Also Read: Morgan Creek Launches Digital Asset Index Fund for Institutional Investors

Terra Firma

Binance, Okex, Huobi and Upbit Among Investors in New Stablecoin, TerraTerra has announced today it raised an initial $32 million in its seed funding round which included Binance Labs, Okex, Huobi Capital, and Dunamu & Partners (the investment firm of Upbit operator). Other than exchanges, Polychain Capital, FBG Capital, Hashed, 1kx, Kenetic Capital, Arrington XRP Capital and Translink Capital also took part in the seed round. The capital is meant for creating a stablecoin that can be used as a payment solution.

Fears about the dependability of Tether (USDT) have led to а torrent of new stablecoins recently, such as the Stronghold USD and Stasis EUR, and more are on the way. Terra is trying to carve a space for itself by focusing on ecommerce integration. Its co-founder, Daniel Shin, is the founder and Chairman of TMON, an ecommerce platform from South Korea. And fifteen companies, with a total of $25 billion in annual transaction volume and 40 million customers (including Woowa Brothers, Qoo10, Carousell, Pomelo, and TIKI), have joined the Terra Alliance. The stablecoin is said to be backed by Luna, an asset that derives its value from transaction fees collected on the network. “Much like the moon stabilizes the earth’s rotation, Luna is Terra’s eternal guardian of stability.”

Is There a Need for Another Stablecoin?

Binance, Okex, Huobi and Upbit Among Investors in New Stablecoin, Terra“From experience, I know that faster, more secure transactions at a fraction of today’s fees could be a game-changer for many ecommerce platforms. We are excited to be working with great partners and look forward to beta-testing Terra’s payment system in Q4 of this year,” said Shin. “However, our vision goes beyond positioning Terra as a trusted and secure medium of exchange for ecommerce. The potential application of Terra is immense, and we foresee it being used for all types and forms of financial products like loans and insurance.”

“While we see many stablecoins coming out, Terra’s journey is especially meaningful as they are designing one of the few price-stable protocols with existing, working, and strong go-to-market strategy and usage. We are constantly impressed by the founders’ leadership and earnest commitment to the business, and excited to support the team,” commented Ella Zhang, Head of Binance Labs.

Is there a place in the market for so many new stablecoins? Share your thoughts in the comments section below.


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Researchers Find Discrepancies With Top Exchange Volumes

Researchers Find Discrepancies With Top Exchange Volumes

This month the Blockchain Transparency Institute (BTI) published a research report that claims quite a few of the top cryptocurrency exchanges are overstating their trade volumes or participating in wash trades. BTI explains that out of 130 of the top cryptocurrency trading platforms researched, the organization estimates that every 24-hours over $6B worth of digital asset trade volumes are faked.

Also Read: Lloyd’s of London Insures Cryptocurrency Custody Service Kingdom Trust

Suspect Exchanges Ratio Ranged Wildly

Every single day billions of dollars worth of cryptocurrencies are swapped, and today there’s been about $12.9B traded over the last 24-hours. Over the past year or more many exchanges have been scrutinized for false reporting and various data sites have been called into question for over-exaggerated trade volumes. For example, this past March Sylvain Ribes has published a study that revealed some interesting information about trade volumes stemming from exchanges like Okex and Huobi. This month the Blockchain Transparency Institute (BTI) published its research that explains 70 percent of the top 100 exchanges listed on data sites like Coinmarketcap are reporting phony volumes.

Researchers Find Discrepancies With Top Exchange Volumes
List of the top twenty exchanges from BTI’s research.

The methodology in the study used the trading platform’s order book liquidity and the exchange’s unique daily visitor counts. The research was conducted using web traffic data websites like Google Analytics and Similarweb. The BTI researchers detail that the study also used Sylvain Ribes’ slippage paper which BTI says gave them a more accurate analysis of exchange volumes.

“The accurate exchanges outside of the big money exchanges typically have a volume/user to unique visitor ratio of around between 2% and 5% (3.5% average). The suspect exchanges ratio ranged wildly from 10% up to over 655,000%.

For example, Lbank and ZB exchanges which both claim to be in the top 10 of all exchanges, are also claiming to have volume/unique visitor numbers over $214,000 and $74,000 per day, respectively. This is outlandish considering known high liquid markets Bitfinex, Binance, and Coinbase fall between $5,000 and $8,500 per visitor per day.       

Three Times the Stated Volumes

BTI also says there are discrepancies with the exchanges Okex and Huobi as well as the trading platform Bibox. The study details that Binance commands the largest unique visitor per day count, and the top trading platform in the USA is Coinbase. As far as South Korea, the BTI researchers state Bithumb outpaces Upbit’s volumes. However, Upbit disputes this statistic and has contacted the BTI team. The researchers detail they will look into Upbit’s mobile app user count and are willing to work with any exchanges who provide verifiable data. In the end, the study concludes that roughly $6B stemming from 130 exchanges reporting trade volumes are likely phony.  

Researchers Find Discrepancies With Top Exchange Volumes
CMC volumes August 28, 2018 (left adjusted) – (right reported)

“Tallying up the volume numbers of the top 130 exchanges, it is estimated that over $6 billion dollars in daily trade volume is being faked with over 67% of daily volume being wash traded,” details BTI.

Over 70% of the CMC top 100 is likely engaging in wash trading by at least 3x their stated volume.

Phony trade volumes are nothing new to the cryptocurrency industry as there have been accusations since the first exchanges opened. Back in 2013 and 2014, there were many studies and editorials concerning exchanges reporting false numbers. This past July Crypto Exchange Ranks published a report that accuses the site Coinmarketcap (CMC) of incentivizing fake volumes. CMC had made some adjustments to the portal this year which make for a different display of exchange rankings.     

What do you think about BTI’s study concerning discrepancies with exchange activity? Let us know what you think in the comment section below.


Images via Shutterstock, Pixabay, CMC, and the BTI report.


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Crypto Exchange Okex Introduces Stricter KYC Rules

Crypto Exchange Okex Introduces Stricter KYC Rules

Hong Kong-based cryptocurrency exchange Okex is enforcing tightened identity verification procedures. Daily withdrawal limits will soon depend on the KYC level passed by its users. The changes will apply to customers of Okex’s partnering platforms as well.

Also read: Report: North Korea to Hold a Crypto Conference

Withdrawal Limits to Depend On the Level of Verification

While authorities in China are escalating the recently initiated crackdown on the crypto sector, Chinese-run cryptocurrency exchange Okex has announced stricter KYC (know your customer) rules on its platform. Users who wish to withdraw funds will have to pass mandatory verification. According to a notification published on its website, Okex intends to enforce the requirements on August 28.

Crypto Exchange Okex Introduces Stricter KYC RulesNew withdrawal limits will be introduced as well and they will depend on the level of identification of each customer. Users will have to complete at least KYC verification level 1 in order to withdraw digital assets from Okex.

Providing passport data will be enough for a daily limit of 2 BTC. KYC levels 2 and 3, which come with a 24-hour withdrawal limit of 100 BTC, require sharing address information and uploading copies of documents proving residence and identity.

The updated verification procedures are also applicable to the users of all OK Partner exchanges, the platforms participating in Okex’s Open Partnership program. Customers have been informed that they are allowed to have only one account with Okex. In case of maintaining multiple accounts, they have been invited to transfer all their funds before the new limits come into effect.

Unverified Users Won’t Be Able to Withdraw Coins

The team at Okex also warns users that if their accounts are not verified, they will not be able to withdraw cryptocurrencies from the platform. Prior to the introduction of the new policies, Okex clients were allowed to withdraw up to 100 BTC daily without verification.

Crypto Exchange Okex Introduces Stricter KYC RulesHong Kong-headquartered Okex, currently the second largest crypto exchange by daily trade volume according to Coinmarketcap, is one of several leading global platforms with Chinese roots that sought better business climates abroad following the crypto ban imposed in the People’s Republic in September, 2017. In April, the company announced plans to expand its operations to Malta.

Earlier in August, the exchange launched its new white-label solution, Coinall. Businesses that are using it can 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 was presented as the first autonomous, community-run crypto trading platform.

What do you think of Okex introducing stricter KYC rules? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


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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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