Per a Bloomberg report, crypto exchange FTX is currently looking into ways to purchase Robinhood (HOOD), the U.S. trading platform that offers its clients access to the stock and crypto market. The report quotes sources familiar with the initiative. Related Reading | “Bitcoin Is The Only One I’m Willing To Say Is A Commodity”, SEC Chair […]
On-chain data shows the Bitcoin coinbase premium gap has improved recently and is now approaching a neutral value, suggesting the selling pressure may be drying up. Bitcoin Coinbase Premium Gap Close To Zero, But Still Negative As pointed out by an analyst in a CryptoQuant post, the selling pressure from US investors seems to have reduced in recent days. The “Coinbase Premium Gap” is an indicator that measures the difference in the Bitcoin prices listed on crypto exchanges Coinbase (USD pair) and Binance (USDT pair). The quant notes that US investors are known to use the Coinbase platform, especially high-net entities and institutions. When the value of this metric is positive, it means the price on Coinbase is higher at the moment. Such a trend suggests there has been buying from US investors recently. Related Reading | Bitcoin Whale Presence On Derivatives Still High, More Volatility Ahead? On the other hand, a negative premium gap implies there has been some selling on the crypto exchange as the price is lesser than on Binance. Now, here is a chart that shows the trend in the Bitcoin Coinbase premium gap over the year 2022 so far: The value of the metric looks to be negative right now | Source: CryptoQuant As you can see in the above graph, the Bitcoin Coinbase premium gap has been negative in the last couple of months. During the LUNA crash, it reached a highly red value of $131, which means there was some heavy selling from US investors then. During the consolidation period that followed, as well as during the latest crash, the value of the indicator moved sideways around a negative $20. Related Reading | Is Bitcoin Like Buying Google Early? Check Out The Shocking Comparison Over the last few days, however, the trend seems to have changed and the premium gap is now observing some upwards movement. While the indicator still has a negative value, it’s quite close to zero now as the gap between Coinbase and Binance stands at just -$5. This shows that the selling pressure from US investors has been dying down recently, a sign that could prove to be bullish for the price of Bitcoin. BTC Price At the time of writing, Bitcoin’s price floats around $21.2k, up 11% in the last seven days. Over the past month, the crypto has lost 28% in value. The below chart shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has been going up over the last few days | Source: BTCUSD on TradingView Since the low below $18k, Bitcoin has been trying to gradually make some recovery. However, the crypto is currently finding it difficult to leave the $21k level. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com
According to CEO Brad Garlinghouse, Ripple, based in San Francisco, is ready to move overseas if it loses the regulatory court battle with the U.S. Securities and Exchange Commission.
Some jurisdictions have put mandatory regulations for BTC and crypto-related companies. For example, a law demands that all crypto service firms and exchanges have a financial license. Such laws are appropriate as more criminal activities and scams are rampant through the use of cryptocurrencies. As digital assets and crimes grow, many governments are on edge. […]
Altcoin Season is a technical term often used in the Cryptocurrency world to denote the period wherein altcoins outperform Bitcoin. This period signifies a great […]
Vaultoro, the cryptocurrency-based gold & precious metals exchange, today announced new updates and platform enhancements for users. See below for more details: Limits – Daily limits on Vaultoro have been increased, and users can now withdraw higher amounts of most cryptocurrencies. Fees – The company has introduced lower fees on Vaultoro Direct. Now, when buying […]
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In the interview with the Wall Street Journal, Kwon asserted he has “great confidence in our ability to build back even stronger than we once were.”
If you’re at all interested in the cryptocurrency world, then you’ve probably heard of decentralized exchanges (DEXs). After all, crypto is all about decentralization, so…
The post What Is a Decentralized Exchange (DEX)? appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
The crypto market just saw some slight recovery, but the performances are upside down. Opposite to the way sellouts usually play out, the Bitcoin dominance dropped dramatically as the asset is underperforming the Small Cap index. From last November’s $3 trillion market cap, the crypto market is now down to around $800 billion: Smaller Altcoins Make A Strong Comeback Last week the crypto market saw its bottom, followed now by some slight recovery. As per Arcane Research’s latest weekly report, the smaller altcoins have also been seeing red numbers with the Small Cap index shedding 27%, but it has been the best performer overall. In contrast, Bitcoin had dropped 35%. Through this small window of relief during June, we have seen the blue-chip coin underperform all other indexes. As a result, BTC’s dominance in the market fell -1,51% this week to 43,5% while Ether fell -0,31. The latter has been declining since May from 19.5% to 15%. What’s Making This Crypto Winter Colder The report notes that the primary driver of this crypto crash has been the hedge fund Three Arrow Capital (3AC) collapse. Having invested over $200 million in Luna Foundation Guard’s token sale, 3AC’s liquidity ended up being wiped out and its margin call was the last straw for the already pressured market. Related Reading | How Long Will The CryptoWinter Last? Cardano Founder Provides Answers As per the Wall Street Journal, the crypto hedge fund hired legal and financial advisers to help work out a solution for its investors and lenders. The firm is looking for a way out, “including asset sales and a rescue by another firm”. The prognostic is not very positive at the moment, seeing the wave of liquidations and mitigations of losses by crypto exchanges that have followed the collapse. “We were not the first to get hit…This has been all part of the same contagion that has affected many other firms,” Kyle Davies, 3AC’s co-founder, said in an interview. Arcane Research explained that “In periods of insolvency, creditors unwind the most liquid assets first, which is likely the root cause of BTC and ETH’s relative underperformance in the last week.” The report adds that “illiquid altcoins are more challenging to sell at size, particularly during pressuring times, which explains why smaller coins have experienced less excessive selling pressure in the last week”. Meanwhile, Microstrategy CEO Michael Saylor described the events around this winter as a “parade of horribles” in which the consequences of lack of regulation in the crypto field have made it possible for wash trading and cross-collateralized altcoins to weigh down on Bitcoin. “What you have is a $400 billion cloud of opaque, unregistered securities trading without full and fair disclosure, and they are all cross-collateralized with Bitcoin.” “The general public shouldn’t be buying unregistered securities from wildcat bankers that may or may not be there next Thursday,” Saylor added, slamming at the recent collapses and suggesting that future actions by regulators could prevent the level of volatility that BTC is now experiencing. Related Reading | Crypto Investors Find Safety In Stablecoins, Bitcoin, Ditch Altcoins En Masse
The Three Arrow Capital (3AC) collapse has come barely one month after the Terra collapse. Both of these crypto giants crashing in such a short time frame has put the market in one of its most volatile positions yet. The Luna collapse had reverberated through the market and 3AC had taken a lot of heat […]
The court concurs with Ripple’s argument that the SEC was attempting at sealing more than is essential and ordered a letter to be filed by SEC, stating the…
MoonXBT, a social cryptocurrency trading platform with spot, contract, and options markets, announced that it has officially launched its new referral program. Currently, MoonXBT users can earn commissions by referring new users to the platform. Once the new user trades in the spot, contract, or options markets on MoonXBT, the user that referred them will […]
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Today, the team of delta.theta revealed the official launch of its regulated P2P crypto options exchange. Via partnering with regulated broker Just2trade, the delta.theta platform is able to ensure KYC/AML processes, followed by gaining access to the P2P crypto trading platform. In the newly-launched hybrid DEX platform, individuals will be able to buy and sell […]
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Hit by the collapse of Luna and UST, as well as another round of interest rate hikes and balance sheet shrinking by the Fed, cryptocurrencies suffered a market-wide plunge in May 2022, and the market has not significantly rebounded so far. In addition, compared with their historical highs, the prices of Bitcoin and Ethereum have fallen by more than 50%. Meanwhile, other altcoins have suffered bigger falls. The entire crypto market is still going through a bearish period. That being said, will Bitcoin and Ethereum go to zero? The answer is a hard no. As the blockchain technology advances and becomes more widely adopted, a growing number of users have joined the crypto space, and the market cap of Bitcoin has even once exceeded that of Meta (formerly Facebook). Meanwhile, some conventional institutional investors are venturing into the crypto market, and Bitcoin appears on the balance sheet of an increasing number of listed companies. More and more institutions are paying close attention to the function of Bitcoin and Ethereum as hedging tools, and some countries have even adopted Bitcoin as their legal tender. According to the general trend, a growing number of individual users, companies, and governments will adopt Bitcoin. Moreover, during the past decade, Bitcoin has witnessed all sorts of attacks and smears. It has even been banned by some state regulators. Despite all that, Bitcoin has survived with great tenacity, which is sufficient proof of its ability to withstand tests and challenges. Additionally, more investors are starting to notice the value of Bitcoin. As crypto categories such as DeFi, NFT, and the metaverse boom over recent years, the crypto market has been driven to a whole new level. In today’s market, people can profit not only from direct investments but also from a growing number of crypto-based financial services. As the relevant products mature, more investors are flocking to crypto finance. Therefore, we can draw two basic conclusions: 1) The crypto market will not diminish. On the contrary, an increasing number of global users will adopt cryptos, and the user base of cryptocurrency will keep expanding; 2) The overall price trend of Bitcoin will remain flat. In other words, the price fluctuations will not be as significant as its previous records, which is to say that the BTC price would not go down by much. As such, you do not need to panic if you are holding mainstream cryptos because they are likely to become more valuable according to past market cycles. In our view, the best strategy in a bear market is to hold onto your cryptos and do nothing. Meanwhile, we also advise you to seek to expand the cash flow to ensure the source of income and buy more crypto at low prices. Although some say the best bear strategy is to hoard cryptos, a better approach is to earn more cryptos with one’s existing holding, which resembles earning interests on bank deposits. Right now, many crypto exchanges have launched products focusing on crypto finance, and we can choose a suitable product according to our own needs. What are the indicators to consider when we choose a crypto finance product? Security is the No.1 priority. In the crypto market, the significance of security cannot be overstated, and leaving deposits in an unsafe environment for small profits frequently results in huge losses. For example, some exchanges run by scammers use high returns as the bait to trick users into making crypto deposits. Users are tempted by the financial product’s promise of high returns, yet the scammers are targeting their deposits. In the crypto space, a lot of users have suffered enormous losses when trying to earn small profits. That is why we must choose a safe exchange. As we all know, many crypto exchanges have suffered security breaches, and even some of the top exchanges have lost huge amounts of Bitcoin, incurring losses in user assets. CoinEx, on the other hand, is one of the few exchanges that have never been hacked. Haipo Yang, the founder of CoinEx, once said that safety is always the most essential promise of CoinEx as well as its core advantage. As CoinEx always puts users first, the products it developed have kept users’ assets safe and secure, earning the exchange extensive user recognition. When foraying into crypto finance, we can go with CoinEx, a zero-accident exchange. With Financial Account, a product introduced by CoinEx that provides interests for deposit holders, users can receive daily returns simply by depositing their idle assets into the Account, with compound interests settled on a daily basis. In addition, such compound interests come from 70% of the revenue generated by crypto loans in margin trading, which is a stable and reliable source. Although the financial services provided by some exchanges offer high returns, there are often many strings attached. For example, many of these services require a minimum deposit period of 30 days, 60 days, or even longer. In contrast, CoinEx’s Financial Account does not require any minimum deposit period, and users can deposit/withdraw cryptos at any moment. What are the advantages of on-demand deposits/withdrawals? Cryptos are subject to significant price volatility, and a cryptocurrency can sometimes plunge by over 20% within a week. If we choose a crypto finance product with a minimum deposit period (e.g. 7 days), then once the price plummets, we will find it hard to withdraw our deposits or sell the cryptos to minimize losses. Considering the huge risks involved, the small profits generated by such financial products are apparently not worth it. With CoinEx’s Financial Account, users can deposit/withdraw cryptos anytime they’d like to, which means that they could swiftly withdraw their deposit in the event of significant market volatility while earning profits. Apart from that, Financial Account features no minimum deposit amount, and users can choose to deposit whatever they want. A crypto bear is nothing to be afraid of because it allows us to hoard cheap bargain chips. As such, when a bear comes, we should continue to expand our cash flow. While stocking up on more cryptos with rational strategies, investors also need to deposit their holdings to secure exchanges for financial management and wait for the next crypto bull.
In an interview with Bloomberg, Michael Saylor detailed 10 things that needs to happen over the next decade for bitcoin to become a stronger asset for institutions.