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PR: EO Coin Volume Surges on July Listings

July 31, 2019 |

PR: EO Coin Volume Surges on July Listings

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

EO coin showed bullish sentiment this July on the back of numerous new pairs being listed on EO.Trade exchange, including; ETC/EO and NEO/EO. Detailed statistics show EO coin surged from 70 satoshi’s to 315 following the ETC/EO listing on July 11th, before the NEO/EO listing which took place on July 24th.

Next, the BAT/EO pairing will be listed on EO.Trade, scheduled for Wednesday, July 31st at 13:00 (GMT +0:00).

The new listing is expected by analysts to have a similar effect in driving the value of EO coin forward.

EO coin is the heart of the EO Ecosystem of multiple financial products, which includes the EO.Finance Wallet, EO.Trade Exchange, ExpertOption trading platform, EO.Market crypto statistics app and EO.News portal.

Looking forward, one can expect to see the release of the EO Market Analytics app in addition to even more currency pairs being listed against EO coin.

This will be followed by the introduction of token-based accounts at ExpertOption will serve to continue increasing value.

Trade EO coin at EO.Trade a crypto and fiat ecosystem of unlimited potential.

EO.Trade Crypto Exchange: https://eo.trade
EO.Finance Crypto wallet: https://eo.finance

iOS app: https://itunes.apple.com/app/eo-finance-crypto-fiat-wallet/id1415386724
Android app: https://play.google.com/store/apps/details?id=com.eofinance

Firefox Extension: https://addons.mozilla.org/en-US/firefox/addon/eo-finance-crypto-fiat-wallet/
Chrome Extension: https://chrome.google.com/webstore/detail/eofinance-crypto-fiat-wal/hoighigmnhgkkdaenafgnefkcmipfjon?hl=en

Contact Email Address
press@eo.finance

Supporting Link
https://eo.trade

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.

The post PR: EO Coin Volume Surges on July Listings appeared first on Bitcoin News.

Bitcoin News

Bitcoin Cash Scaling Benchmarks, Brewdog, and Rising Transaction Volume

July 7, 2019 |

BCH Adoption Roundup: Scaling Benchmarks, Brewdog, and Rising Transaction Volume

Over the last week, there’s been lots of going on within the Bitcoin Cash (BCH) environment with companies implementing BCH support, new applications, and various announcements. While Bitcoin Cash supporters keep bolstering adoption, development and community projects have continued to flourish.

Also Read: Over 22,000 Traders Have Now Signed up to Local.Bitcoin.com

The Bitcoin Cash (BCH) ecosystem has seen a lot of action throughout the first two quarters of 2019. This week is not much different as there’s been an abundance of developments within the space. BCH markets are holding steady today and much like the rest of the cryptoconomy there’s been some consolidation. At the time of writing, bitcoin cash commands the fifth largest market valuation and each coin has been hovering between $ 405-420. BCH is the sixth most traded coin on Saturday, July 6. The decentralized digital asset has around $ 1.4 billion worth of global trade volume and a market cap of around $ 7.2 billion.

The First Exchange-Traded Product Tracking the Performance of Bitcoin Cash

This week the fintech firm Amun AG announced that it had listed the first Bitcoin Cash exchange-traded product (ETP) on the Switzerland-based principal stock exchange Six. According to the announcement, Amun’s BCH ETP is fully collateralized and the product is denominated in USD. On the Six trading exchange, the ETP’s ticker will be called ABCH and the BCH community seemed excited about the announcement. “This is huge,” one person commented on the Reddit forum r/btc. “Now there is a new option to invest in bitcoin cash (BCH) with an exchange-traded product in one of the most advanced markets in the world,” explained the Twitter account @Bitcoin on Friday.

Bitcoin Cash Can Now Be Used to Invest in Scottish Craft Beer Company Brewdog

On Thursday, Scottish craft beer brewery Brewdog revealed that the public can invest in the company using multiple denominations of crypto. Brewdog’s crowdfunding project, “Equity for Punks,” now accepts bitcoin core (BTC), bitcoin cash (BCH), omisego (OMG), qtum (QTUM), augur (REP), 0x (ZRX), bitcoin SV (BSV), ether (ETH), litecoin (LTC), and ripple (XRP). Essentially Equity for Punks allows investors to purchase a stake in the company and allows them to become shareholders. According to Brewdog, there were 114,000 investors before they opened up the crowdfunding to cryptocurrency users.

“You can now become a card-carrying Brewdog Equity Punk using cryptocurrency,” explained the company’s announcement. “This is the natural next step for us as a business. James and Martin started Brewdog to be an alternative to the status quo; to challenge perceptions and revolutionise their industry — The developers, miners, and users of cryptocurrency are exactly the same.”

BCH Adoption Roundup: Scaling Benchmarks, Brewdog, and Rising Transaction Volume

Handlekrypto Launches in Sweden

The sister company of Keys4coins, a startup called Handlekrypto, has launched in Sweden. Now residents from Sweden can visit Handlekrypto.se to purchase BCH in seconds with SEK using a bank card or Swish. There is no registration required and visitors looking to purchase BCH can verify themselves instantly with a BankID.

At the moment Handlekrypto provides bitcoin cash (BCH), bitcoin core (BTC) and ethereum (ETH). The website also has a cryptocurrency conversion application that allows users to swap between hundreds of digital assets. The Handlekrypto service has a website for international visitors, the UK, Norway, and the latest in Sweden.

3,000 Transactions Per Second in BCH Benchmark Stress Test

Software developer and miner Jonathan Toomim published a video on July 2 which shows how he built a benchmark to measure the performance of the Bitcoin Cash reference client Bitcoin ABC. Toomim’s test generated 672,000 transactions and mined them into blocks in roughly a nine-minute time frame. The results equate to more than 3,000 BCH transactions per second on his desktop computer. Toomim is well known for his Xthinner project and the developer said he plans to work on Xthinner so it can “propagate blocks before performing full transaction validation (and after only doing data integrity/merkle root+PoW checks).” “Testing block propagation was the original motivation for building this test apparatus,” Toomim explained. The software engineer continued:

I also intend to set up a networked version of this test with four 40-core computers, using the Linux netem module to inject artificial latency and packet loss. Again, this is primarily and initially to be used as a testbed for optimizing block propagation.

Dementia Society of America Now Accepts Bitcoin Cash

On July 4 the Dementia Society of America revealed they now accept cryptocurrency donations. The organization is a nonprofit that provides individuals and families impacted by dementia with education, local resources, and life enrichment. “We recognize caregivers and innovators, and raise hope by supporting relevant research to discover cures, causes, and meaningful interventions,” explains the Dementia Society’s website.

Now the charitable organization accepts donations in bitcoin core (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BCH) and Circle’s USD stablecoin (USDC). Founder and Volunteer President Kevin Jameson explained that he wants the “crypto community to know that we support innovative mediums of exchange.” Jameson stated:

More than 2,000 years ago, we traded salt and gold for our labors – as we were worth our weight in it – today, its bits and bytes, and since our Society’s origins just over 5 years ago, we’ve understood that there is always lasting value to human kindness, no matter the currency.

Bitcoin Cash Network Becomes the Second Most Valuable Chain

On July 2 the founder of Ryan Research, Peter Ryan, explained in a recent research analysis hosted on Coinspice.io that Bitcoin Cash recently became the second most valuable chain according to transaction volume or the total amount of value transacted through the blockchain. “While Bitcoin Cash might be fifth by market cap, its transaction volume is now 2nd,” explained Ryan’s analysis. “Around mid-May, that volume started to really take off and exceeded $ 2 billion per day — Other notable cryptocurrencies like ETH, LTC, and XRP are well below these new milestones.”

BCH Adoption Roundup: Scaling Benchmarks, Brewdog, and Rising Transaction Volume

In fact over the last six months when comparing bitcoin core (BTC) and bitcoin cash (BCH) transaction volume there’s been a slight downturn, but in April both networks showed positive growth. After that, however, BCH began to outpace BTC in growth drastically, Ryan detailed. The researcher added:

In May, BCH saw 185% month-over-month growth in transaction volume while BTC only grew by 56%. BCH came close to a third of the volume of BTC in May only to settle in July at about a quarter.

Local US Government in Ohio Plans to Use SLP Token to Incentivize Positive Behavior

This week BCH supporters heard about the local government of Dublin, Ohio planning to use a Simple Ledger Protocol (SLP) token for a citywide reward system. On July 1, the CEO of the BCH implementation Bitcoin Verde revealed the news and explained the SLP token will be used throughout the city. Green told news.Bitcoin.com that the token’s goal is to provide three functions in Dublin: digital identity, electronic polling system, and a token of value.

“The Dublin token is intended to be a reward and barter system for Dublin’s citizens — to incentivize positive behavior,” explained the Bitcoin Verde founder, who also told the BCH community that the team “investigated other blockchain and token implementations, but ultimately decided Bitcoin Cash’s scaling solution to be superior than other alternatives, and viewed the thriving developer community to be an important pillar to the platform’s longevity.”

Twitch.tv Acceptance, Brave Browser, and Tipbitcoin.cash

There’s been so much happening within the Bitcoin Cash ecosystem and BCH supporters have been discussing the variety of developments fervently. The latest live streaming Bitcoin Cash tipping platform Tipbitcoin.cash has been seeing a lot of action on the Twitch.tv platform. Moreover, Twitch.tv re-added the ability to pay for services and items on the website using bitcoin cash (BCH) or bitcoin core (BTC) through Bitpay. In another exciting development, Brendan Eich, the CEO of the Brave browser, revealed on Twitter that BCH will soon be supported. “BCH and other funding choices coming to Brave [version] 0.68,” Eich declared. With BCH enthusiasts, developers and companies pushing for quality crypto services and mainstream adoption, the latest slew of announcements should augment their optimism.

What do you think about all the developments within the Bitcoin Cash ecosystem? Let us know what you think in the comments section below.

Disclaimer: This editorial is intended for informational purposes only. Readers should do their own due diligence before taking any actions related to the mentioned companies or any of their affiliates or services. Bitcoin.com or the author 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 this article.


Image credits: Shutterstock, Ryan Research, Handlekrypto, and Pixabay.


Want to create your own secure cold storage paper wallet? Check our tools section. You can also enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

The post Bitcoin Cash Scaling Benchmarks, Brewdog, and Rising Transaction Volume appeared first on Bitcoin News.

Bitcoin News

CME’s Bitcoin Futures Break Records With $1 Billion in Notional Volume

May 15, 2019 |

CME Group's Bitcoin Futures Breaks Records With $  1 Billion in Notional Volume

The world’s largest options and futures exchange, Chicago Mercantile Exchange & Chicago Board of Trade (CME Group) and its bitcoin futures contracts saw an all-time high on May 13. According to CME’s records, the exchange recorded 33,700 contracts on Monday which represented a notional value of around 168,000 BTC ($ 1.35 billion).

Also Read: Our Value of Money Is Subjective But That Doesn’t Make It Meaningless

CME Sees Over $ 1B of BTC Futures Contracts Traded

CME Group’s bitcoin futures contracts soared on Monday at the same time that crypto spot markets saw record volumes. Over the last few months, more interest has been aimed at cryptocurrency derivative products. For instance, during the second week of April, bitcoin cash (BCH) futures started rising significantly prior to recent BCH price appreciation. Crypto Facilities and executive Sui Chung detailed how BCH contracts in March saw close to $ 50 million in volume. During the same week on April 4, CME group saw its first record of roughly 22,500 BTC future contracts. On May 13, the options and futures exchange announced:

CME Bitcoin futures reached an all-time record high of 33.7K contracts on May 13 (168K equivalent bitcoin), up nearly 50% from the last record of 22.5K contracts on April 4. See how market participants are using BTC to manage uncertainty.

The options and futures exchange also saw a large uptick in BTC futures volumes in February. Despite the increased trade volume, the derivative markets providers reported a net income loss of 17% for Q1 on May 1. BTC contracts, however, are pretty high on May 14 as well with 22,234 contracts as the day’s volume is nearing the April 4 record.

CME's Bitcoin Futures Break Records With $  1 Billion in Notional Volume

Bakkt’s Physically Delivered Bitcoin Futures Will Launch Soon

The news also follows an announcement from the Intercontinental Exchange and its Bakkt Bitcoin Daily Futures Contract products. Bakkt CEO Kelly Loeffler updated the public on Monday in regard to the physically delivered bitcoin futures contracts that have been delayed month after month. According to Loeffler, user acceptance testing for the bitcoin futures custody and trading is planned for July but Bakkt could get approval from the Commodity Futures Trading Commission (CFTC) within the next 10 days.

CME's Bitcoin Futures Break Records With $  1 Billion in Notional Volume

“Bakkt will contribute $ 35 million into the clearinghouse risk waterfall,” Loeffler noted. “This puts our own ‘skin in the game’ and aligns our interests for market integrity and safety with market participants.” The Bakkt CEO added:

For physical delivery and secure storage of bitcoin, an integrated custody service will be fulfilled by Bakkt’s qualified custodian, subject to regulatory approval. Safekeeping will be supported by insurance, cybersecurity, and comprehensive compliance, including an anti-money-laundering program and blockchain analytics.

While Spot Market Prices Rise, Institutional Interest in Crypto Gathers Momentum

The recent magnitude of futures volumes for both BCH and BTC has correlated with parabolic price rises for both digital assets. For instance, bitcoin cash is up 31% over the last seven days while bitcoin core is up 35% for the week.

CME's Bitcoin Futures Break Records With $  1 Billion in Notional Volume
CME Group BTC futures quotes on May 14, 2019.

In addition to this, futures markets and institutional interest have been gathering momentum. Steven Quirk, executive vice president at TD Ameritrade, told the audience at the Consensus 2019 conference that 60,000 clients have called or emailed because they are interested in trading futures products tethered to digital assets. Quirk added:

As soon as you open the door, you’re going to get a lot of people looking to participate in the market.

Monday and today’s CME Group futures volumes show interest in these products continues to grow and when other companies latch onto this trend they’ll also want in on these offerings. A lot has changed since CME Group launched its bitcoin futures service in December 2017 and it seems investors are still very attentive when it comes to crypto derivatives products.

What do you think about the recent futures action lately tied to the cryptoconomy? Let us know in the comments section below.


Image credits: Shutterstock, Pixabay, CME Group, Bakkt, and Medium.


Enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely.

The post CME’s Bitcoin Futures Break Records With $ 1 Billion in Notional Volume appeared first on Bitcoin News.

Bitcoin News

Crypto Markets and CME Futures Post Record Trade Volume

April 9, 2019 |

Volume has been ramping up across the cryptocurrency markets, with April seeing a new all-time high posted for daily global cryptocurrency volume. The month has also seen Chicago Mercantile Exchange (CME) report record trade volume for its BTC futures contracts, in addition to Cumberland’s trade desk reporting an influx of 1,000 BTC buy orders, signaling strength across numerous facets of the virtual currency ecosystem.

Also Read: How 5 Asian Countries Regulate Cryptocurrency

New All-Time High Posted for Global Cryptocurrency Trade

According to Coinmarketcap, new records for daily global cryptocurrency trade were posted on April 4 and 5 consecutively, with $ 77.07 billion and $ 79.99 billion worth of crypto changing hands on each day. The new records beat out the former all-time high of nearly $ 70 billion that was posted on Jan 5, 2018, by more than 10%.

Crypto Markets and CME Futures Post Record Trade Volume

The rally appears to have been driven by a significant spike in USDT trade, with USDT volume beating BTC on both April 3 and April 4. Currently, April 4 comprises the strongest day on record for both USDT and BTC, with $ 25.3 billion worth of tether and $ 21.7 billion worth of bitcoin core changing hands.

As of this writing, BTC and USDT volume is nearly identical, with almost $ 15.81 billion worth of BTC and $ 15.74 billion worth of USDT having been traded over the past 24 hours.

CME Reports Record Volume

April 4th also saw CME report record volume for its BTC futures contracts with more than 22,500 contracts or the equivalent of 112,700 BTC traded, beating out the previous record of 18,300 contracts that was set as of February 19.

Crypto Markets and CME Futures Post Record Trade Volume

On April 1, Cumberland reported that a large influx of 1,000 BTC buy orders had been executed within the span of a single hour on its trading desk, further evidencing a dramatic spike in demand across the cryptocurrency markets.

Speaking to CNBC, the chief executive officer of Binance, CZ, reported that the platform has seen a record number of orders executed in recent days, stating: “The number of transactions … is at an all-time high, we are actually seeing more orders than January 2018.”

News.Bitcoin.com also reached out to an over-the-counter (OTC) BTC broker, who noted that “demand is picking up” in the OTC markets.

Do you think that the increase in trade volume is an indication of a shift in the cryptocurrency meta-trend? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Coinmarketcap


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Crypto Markets and CME Futures Post Record Trade Volume appeared first on Bitcoin News.

Bitcoin News

Report: 87% of Crypto Exchanges May Be Falsifying Volume

March 20, 2019 |

Report: 87% of Reported Trade Volume on World's Largest Crypto Exchanges Questionable

At least 87 percent of cryptocurrency exchanges may have falsified their reported trade volumes, a new study claims. According to a review of the top 100 exchanges by analytics company The Tie, most of the trading volume on the world’s largest crypto trading platforms is suspect.

Also read: Quadrigacx Co-Founder a Convicted Fraudster

Suspicious Trading Volumes

“In total we estimated that 87 percent of exchanges’ reported trading volume was potentially suspicious and that 75 percent of exchanges had some form of suspicious activity occurring on them,” the company revealed in a series of tweets on its research findings.

“If each exchange averaged the volume per visit of CoinbasePro, Gemini, Poloniex, Binance, and Kraken, we would expect the real trading volume among the largest 100 exchanges to equal $ 2.1 billion per day. Currently that number is being reported as $ 15.9 billion,” added The Tie.

Report: 87% of Crypto Exchanges May Be Falsifying Volume
Trading volumes per exchange vs monthly web visits

Manipulation of trading volume data by exchanges has remained an area of concern within the cryptocurrency market. Several factors can artificially grow volume, making it look like there’s demand for a particular digital asset when interest is actually minimal or non-existent. Investors are often lured to exchanges with inflated volumes as that tends to create an element of trust and an impression of liquidity. However, doubts about the integrity of crypto markets could be preventing some professionals from entering the space and prompting closer regulatory scrutiny.

Inflated Volumes

In its study, The Tie looked at weighted average trading volume per user visit at major crypto exchanges Binance, Coinbase Pro, Poloniex, Gemini and Kraken – averaging $ 591 – and used similar metrics on other smaller exchanges. The New York-based company indicated that these exchanges were selected on account of their “large usage among institutions, reputation in the market, and because their web viewership appeared consistent with their reported trading volumes.”

It found that about 60 percent of exchanges reported volume that was 10 times higher than expected, at least as far as traffic to their websites was concerned. The practice was most prevalent at Bitmax, ZBG, Coinbene, Lbank and BW, the researchers alleged. Binance, Kraken, Coinbase Pro, and Poloniex had expected volume in line with their reported trading volume.

Report: 87% of Crypto Exchanges May Be Falsifying Volume
Expected real trading volume/Reported trading volume per exchange

While website viewership metrics don’t account for API or mobile app trading, they do provide a good basis of comparison across exchanges to identify suspicious reported volumes, explained The Tie. “Our team set out to determine whether volumes reported on cryptocurrency exchanges were genuine. We started by pulling a list of the top 100 exchanges by traded volume over the last 30 days,” the company said.

It continued: “We then used Similar Web website viewership metrics to calculate the estimated 30 days traffic to each exchange’s website. After doing this, we divided the reported volume for each exchange by the number of monthly website visits to determine the reported volume per visit.”

What do you think about exchanges reporting suspicious trading volume? Let us know in the comments section below.


Images courtesy of Shutterstock and The Tie.


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The post Report: 87% of Crypto Exchanges May Be Falsifying Volume appeared first on Bitcoin News.

Bitcoin News

Up & Down: Large Volume for Today’s Gainers, ENJ and COSM Among Losers

March 12, 2019 |

Up & Down: Large Liquidity for Today's Gainers, ENJ and COSM Among Losers

In today’s market action, several of the day’s top 20 gainers have seen eight-figure trade volume over the last 24 hours including GRS, VIA, DMT, and CVC. When looking at the worst performing markets, ENJ and COSM command the largest volume of the day’s top losers.

Also Read: Old School Altcoins Can’t Stop Popping

High Volume Coins Among Top Gaining Markets

A number of altcoins have ranked among the day’s top gainers with substantial volume, comprising a departure from the dominance of low liquidity crypto assets that has characterized the top gaining markets throughout the current bear trend.

As of this writing, groestlcoin (GRS) comprises the day’s fifth top performing market, currently trading for $ 0.55 after posting a 24-hour gain of 62%. Of the top gaining markets, groestlcoin has the largest daily trade volume by more than 10x, with nearly $ 503.19 million worth of GRS changing hands. Groestlcoin is the 103rd largest crypto asset with a market cap of $ 39.97 million.

Up & Down: Large Volume for Today’s Gainers, ENJ and COSM Among Losers
GRS/USD – 24 Hours

Viacoin (VIA) is the day’s seventh top gaining market, currently trading for $ 0.53 after rising 45% in 24 hours. Nearly $ 38.77 worth VIA was traded today, with viacoin currently ranking 221st with a capitalization of $ 13.15 million.

Up & Down: Large Volume for Today’s Gainers, ENJ and COSM Among Losers
VIA/USD – 24 Hours

Dmarket (DMT) currently ranks as the 13th top gaining coin of the day, having grown 33% to trade for $ 0.27. Dmarket now ranks 216th by market cap, with a capitalization of $ 13.66 million. $ 42.85 million worth of DMT was traded over the last 24 hours.

Up & Down: Large Volume for Today’s Gainers, ENJ and COSM Among Losers
DMT/USD – 24 Hours

Civic (CVC) is the 16th top gaining market of the day after having risen 31% to trade for $ 0.082. $ 37.8 million worth of CVC changed hands in the last 24 hours, ranking civic as the 127th largest crypto asset with a capitalization of $ 27.80 million.

Up & Down: Large Volume for Today’s Gainers, ENJ and COSM Among Losers
CVC/USD – 24 Hours

ENJ and COSM Post Double-Digit Losses

After ranking as the third and fourth top gaining markets of two days ago, enjin coin (ENJ) and cosmo coin (COSM) are currently ranked among the top losers of the past 24 hours.

ENJ is trading for $ 0.166 after losing nearly 15% today, ranking it as the 15th poorest performing crypto asset by 24-hour performance. ENJ is ranked 47th by market cap with a capitalization of $ 126.59 million and a daily trade volume of $ 47.58 million.

Up & Down: Large Volume for Today’s Gainers, ENJ and COSM Among Losers
ENJ/USD – 24 Hours

COSM is presently ranked as the 25th top loser of the past 24 hours, trading for $ 0.048 after falling by 18% in one day. COSM is now the 118th largest cryptocurrency with a market cap of $ 31.71 million. Roughly $ 111.7 million worth of COSM changed hands today.

Up & Down: Large Volume for Today’s Gainers, ENJ and COSM Among Losers
COSM/USD – 24 Hours

Do you think the prevalence of large liquidity coins among today’s top gainers is a sign of shifting market dynamics or a mere coincidence? Share your thoughts in the comments section below!


Images courtesy of Shutterstock.


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Up & Down: Large Volume for Today’s Gainers, ENJ and COSM Among Losers appeared first on Bitcoin News.

Bitcoin News

Onchain Stablecoin Transactions Remain Low Despite Surge in Trade Volume

March 6, 2019 |

Stablecoins See Few On-Chain Transactions Despite Recent Surge in Exchange Volume

Despite many stablecoins ranking among the top 20 most traded crypto assets by monthly volume, a recent report has shown that there are few onchain transactions conducted using these fiat-pegged tokens.

Also Read: Swiss Stock Exchange Launches Trading for ETH ETP

DAI Sees Significant Onchain Usage

Of the established stablecoins, DAI has recorded the largest number of on-chain transactions, despite comprising one of the smallest stablecoins by market capitalization, with $ 78.27 million. Over the five-day period sampled by Tradeblock, 10,079 onchain DAI transactions were conducted.

Tradeblock attributes DAI’s relatively large onchain volume to its widespread adoption among decentralized exchanges (DEXs). The report estimates that 350 transactions take place onchain daily, adding that “the Makerdao team behind the DAI token estimates that 50% of the total daily DAI value transferred is occurring on DEXs.”

Offchain Transactions Minimal for USDC, PAX and GUSD

By contrast, despite USDC’s $ 257.58 million market cap, only 5,041 onchain transactions occurred during the same five-day period. Similarly, only 2,200 transactions were recorded using PAX, in spite of the crypto asset’s nearly $ 116.35 million capitalization.

Onchain Stablecoin Transactions Remain Low Despite Surge in Trade Volume

GUSD also saw a modest number of onchain transactions during the sample period, despite an $ 81.95 million market cap. Just 1,170 transfers were transferred using the GUSD blockchain.

Stablecoins Saw Significant Decline in Trade Volume Across US Exchanges in 2018

Tradeblock identifies a dramatic decline in year-over-year notional trade volume of BTC pairings with USDC, TUSD, USDT, and PAX across United States-based cryptocurrency exchanges.

While January saw notional year-over-year volume fluctuate between $ 150 and $ 250 million, the combined trade activity of stablecoins on U.S. exchanges has been less than $ 50 million since May 2018, with XBT/USD volume falling by 85 percent from January 2018’s within 10 months.

Onchain Stablecoin Transactions Remain Low Despite Surge in Trade Volume

Despite the enormous decline in volume during 2018, recent market action has driven a significant gain in notional year-over-year trade volume since bottoming out below $ 5 million at the end of Oct. 2018, with the combined trade activity for stablecoins on U.S. exchanges gaining more than 600 percent between Nov. 12 and Nov. 26 of last year.

However, stablecoin trade has since receded, with combined notional year-over-year volume again approaching $ 5 million towards the end of January 2019.

Do you think that the popularity of stablecoins will diminish or grow with time? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Onchain Stablecoin Transactions Remain Low Despite Surge in Trade Volume appeared first on Bitcoin News.

Bitcoin News

Feb Volume Report: Leading Markets Post Strongest Month Since Q1 2018

March 3, 2019 |

For many leading markets, February produced the largest monthly volume since the first quarter of last year, with 30-day BTC trade activity surpassing $ 200 billion, and ETH exceeding $ 100 billion.

Also Read: Report: Quadriga’s 6 Cold Wallets Have Been Without Funds Since April 2018

BTC Volume Surpasses $ 200 Billion for February

February saw the highest volume for BTC trade in one year, with BTC pairings generating nearly $ 206.37 billion in trade during the last 30 days.

The increase in trade activity was driven by the run up to $ 4,000 during the middle weeks of February, with volume having since retraced amid sideways consolidation. The surge in activity comprised a 34% gain in trade activity month-over-month.

USDT trade also produced its heaviest month of trade since the first quarter of 2018, with $ 177.12 billion worth of tether changing hands. USDT trade activity increased by 56.50% when compared with January.

30-Day ETH Volume Surpasses $ 100 Billion

Monthly ETH trade activity reached a one year-high during 2018, with $ 104.46 billion worth of ethereum having been traded during the last 30 days. As such, ETH trade increased by 34.40% month-over-month.

Feb Volume Report: Leading Markets Post Strongest Month Since Q1 2018

During February, EOS ranked as the fourth-most traded cryptocurrency for the fifth consecutive month. $ 33.24 billion worth of EOS were traded during the last 30 days, comprising a 54.75% gain in trade activity. February comprised the strongest month of EOS trade since May 2018.

LTC ranked as the fifth-most-traded crypto asset for February, with $ 32.85 billion worth of litecoin changing hands. LTC saw a 93.58% month-over-month gain in volume, comprising the strongest month of trade since the first quarter of 2018.

Bitcoin Cash and Dash Ascend Volume Rankings During February

XRP was the sixth-most traded cryptocurrency of February for the second consecutive month, with $ 17.66 billion worth of XRP changing hands during the last 30 days. XRP trade activity increased by 30% month-over-month, however, failed to exceed the trade volume generated throughout December.

BCH ascended two positions to rank as the seventh most traded crypto asset of the past 30 days with $ 8.91 billion worth of trade. Despite posting a 40.54% gain monthly trade, February comprised the second-weakest month of trade in more than 12 months.

Feb Volume Report: Leading Markets Post Strongest Month Since Q1 2018

Dash re-entered the top ten after falling to 12th last month, ranking eighth with $ 6.22 billion worth of trade. February saw dash produce a 48.45% volume increase month-over-month, comprising the strongest month of trade since September.

NEO Reclaims Top Ten Ranking

NEO produced its strongest month in over 12 months, with $ 6.21 billion worth of NEO changing hands in the last 30 days. NEO comprised the ninth-most traded crypto asset during February, breaking into the top ten for the first time since November. NEO trade activity increased by 72.5% month-over-month.

QTUM produced its strongest month of trade since the first quarter of 2018, generating $ 6 billion worth of trade in the last 30 days. Monthly QTUM trade increased 22% when compared with January ranking it as the 10th-most traded cryptocurrency during February.

CKUSD comprised the 11th-most traded crypto asset during February with $ 5.87 billion worth of trade. February saw monthly CKUSD trade activity gain 38%, comprising the strongest month of trade since Q1 2018.

ETC rose two positions to rank as the 12th-most traded cryptocurrency with $ 5.75 billion worth of trade in the last 30 days. February posted a 60% gain in monthly ETC volume, comprising the strongest month of trade since August.

TRX Posts Significant Reduction in Monthly Trade

Despite falling from the top ten, ZEC produced its strongest 30 days of trade since Q1 2018 for the second consecutive month, with $ 5.22 billion worth of ZEC changing hands. February saw ZEC volume increase by 4.4%, ranking as the 13th-most traded cryptocurrency.

TRX comprised the only crypto asset of the top 15 to post a reduction in trade volume during February. $ 5.08 billion worth of TRX was traded during the last 30 days, ranking as the 14th most trade crypto asset.

Feb Volume Report: Leading Markets Post Strongest Month Since Q1 2018

XLM posted its strongest month since the first quarter of last year, with $ 3.99 billion worth of XLM changing hands. XLM comprised the 15th-most traded cryptocurrency during February, with volume increasing 23%.

BTT Ranks Among Top 20

BTT comprised the 16th-most traded crypto asset during February, with $ 3.86 billion worth of BTT having been traded.

BNB made its second appearance among the top 20 in one year, ranking 17th with $ 2.84 billion in trade over the last 30 days

BSV ascended one rank to comprise the 18th-most traded cryptocurrency during February, with $ 2.70 billion worth of trade. BSV trade activity increased 34.33% month-over-month.

PAX saw a nearly 10% decline in monthly trade activity, slipping one position to rank as the 19th-most traded crypto asset with $ 2.01 billion in trade.

TUSD ranked as the 20th-most traded cryptocurrency for the second consecutive month with $ 1.87 worth trade, a nearly 17% increase in trade volume.

Feb Volume Report: Leading Markets Post Strongest Month Since Q1 2018

Do you expect volume to continue to increase heading into the second quarter of 2019? Share your thoughts in the comments section below!


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Markets Update: Diminished March Trade Volume Mirrors Previous Patterns

March 2, 2019 |

Markets Update: March Trade Volumes Diminish Following Prior Crypto Trends

Over the last few days, cryptocurrency markets have been holding steady and consolidating after the correction on Feb. 24. Currently, the entire market capitalization is hovering around $ 129 billion and trade volume has started to diminish slightly with $ 24.9 billion traded over the last 24 hours. The top contenders capturing most of today’s daily gains consist of litecoin (LTC), binance coin (BNB), and ethereum classic (ETC).

Also Read: Public Transportation Across Argentina Can Now Be Paid With BTC

Crypto Markets Consolidate While Traders Wait for the Next Big Move

On Saturday, March 2, the most popular crypto markets have been dull after the last big price dip that took place last week. Today the three coins swapping the most volume are bitcoin core (BTC), tether (USDT) and ethereum (ETH). At the moment BTC is swapping for $ 3,864 per coin and has an overall market valuation of $ 67.9 billion. This is followed by the second largest market valuation held by ethereum (ETH) which is trading for $ 134 per token.

Markets Update: Diminished March Trade Volume Mirrors Previous Patterns
Top 10 cryptocurrencies on March 2, 2019.

Ethereum had been the rally leader about a week and a half ago but markets are down over 10% for the week. Ripple (XRP) currently holds the third position today and each XRP is swapping for $ 0.31 a coin. This is followed by eos (EOS) markets which are down 10% over the last seven days as well. One eos is trading for $ 3.53 this Saturday and the market has an overall valuation of around $ 3.2 billion. Lastly, litecoin (LTC) is leading the top five markets by gaining 2.4% over the last 24 hours. One LTC is trading for $ 49 and markets have only lost 1.56% last week.

Markets Update: Diminished March Trade Volume Mirrors Previous Patterns
Top 20 cryptos by market capitalization on March 2, 2019.

Bitcoin Cash (BCH) Market Action

Bitcoin cash (BCH) markets are down this Saturday 0.73% and down over 9% in the last seven days. BCH is trading for $ 132 at press time and has a market capitalization of around $ 2.33 billion. This weekend BCH is the eighth most traded coin, below neo and just above dash.

Markets Update: Diminished March Trade Volume Mirrors Previous Patterns
BCH/USD 7-day on March 2.

Currently, there is $ 249.6 million worth of BCH swapped among the most popular exchanges and ETH is capturing 43% of that volume. Pairs following ETH’s dominance with BCH include USDT (31%), BTC (16.5%), USD (4.3%), KRW (3.3%), and JPY (0.4%). The top five exchanges trading the most BCH this weekend are Lbank, Bitmart, Binance, Fcoin, and Bibox. Last week, before the Feb. 24 dump, BCH failed to break upper resistance above $ 145 per coin and foundations have been meandering around $ 128-135 since then.

Markets Update: Diminished March Trade Volume Mirrors Previous Patterns
BTC/USD Poloniex 4-hour chart on March 2, 2019.

BCH/USD Technical Indicators

Looking at the four-hour chart on Kraken and Bitstamp shows that even though there was a slight correction last week, things still look optimistic. An indicator that’s been revealing this trend is the fact that while BCH has been consolidating, the short-term 100 Simple Moving Average has crossed the long-term 200 trendline. This shows that the path toward the least resistance at least for now is toward the upside. BCH did spike above the $ 128 zone after the quick drop and the consolidation has reinforced a bullish outlook.

Markets Update: Diminished March Trade Volume Mirrors Previous Patterns
BTC/USD Kraken 4-hour chart on March 2, 2019.

However, Relative Strength Index and Stochastic oscillators are meandering in the middle, showing indecisiveness among traders. Yet the MACd histogram shows room for improvement and it could start ascending after some resistance is broken this weekend. Order books still show that upper resistance is still around the $ 145 zone and from there, seas are much smoother. On the backside, if bears take the reins again they will be stopped between the current vantage point and $ 110.

The Verdict: Public Interest Is Waning But New Money May Not Be Needed to Ignite Next Bull Run

Overall traders are still uncertain, but a good portion think crypto markets may be near the elusive bottom. There are a few signals from both technical charts and overall positive news that could spark a price jump, although the month of March is well known for being a lackluster trading month for cryptocurrencies. Another obstacle is the fact that interest is waning as Google trends show that people searching for terms like “bitcoin price” “bitcoin” bitcoin cash” “ethereum” and “cryptocurrency” just isn’t happening as much as it was a year ago.

Markets Update: Diminished March Trade Volume Mirrors Previous Patterns
The top 20 cryptocurrency volumes on Saturday, March 2, 2019.

This gives investors the indication that “new money” just isn’t coming in, however, some analysts believe this doesn’t matter. For instance, the Singapore-based Three Arrows Capital CEO Su Zhu says there’s enough money sitting in crypto right now to initiate a price spike.

“There’s an estimated $ 2 billion in cash sitting in crypto funds. There’s another $ 2 billion+ sitting in stablecoins, and another $ 2 billion sitting at exchanges, silvergate, signature,” Su Zhu explained to his Twitter followers.

Zhu added:

This is $ 6 billion in fiat already onboarded to crypto to buy your bags — Imagine thinking we need new money to hit $ 10k.

Markets Update: Diminished March Trade Volume Mirrors Previous Patterns
Cryptocurrency money flows on March 2, 2019. USDT volumes confirm Su Zhu’s theory of $ 6 billion in fiat already onboarded to crypto.

Another indicator of positivity is the amount of bitcoin short positions dropping extremely low on exchanges like Bitfinex and Bitmex. The same can be said of ethereum short positions as a few weeks ago they reached all-time highs, but have since reversed considerably. These signs indicate that traders are uncertain the price will be heading lower and are waiting for the next big move for better insight.

Where do you see the price of BCH, BTC, and other coins heading from here? Let us know in the comments 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, Trading View, Bitstamp, Coinlib.io, and Satoshi Pulse.


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The post Markets Update: Diminished March Trade Volume Mirrors Previous Patterns appeared first on Bitcoin News.

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P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week

March 1, 2019 |

The peer-to-peer (P2P) markets have seen a dramatic increase in Iranian and Indonesian trade activity, with both markets posting triple-digit volume gains in recent weeks. Localbitcoins volume has also surged in select Latin American markets this past week, with the Dominican Republic, Colombia, and Venezuela posting some of their strongest trade on record.

Also Read: Auction of Seized Bitcoin Draws Interest From 110 Countries

Iranian P2P Trade Volume Up 190% in a Week

During the week of Feb. 23, Localbitcoins trade between Iranian rial (IRR) and BTC nearly tripled. Nearly 34.56 billion IRR (approximately $ 137,000) changed hands during the seven-day period, comprising the eighth strongest week on record when measured against fiat currency.

P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week

When measured in crypto, the week comprised the ninth strongest in the market’s history, with roughly 67 BTC changing hands, a nearly 150% gain over the previous week’s 27 BTC.

P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week

Indonesian P2P Trade Activity Gains Over 2,000% in 2 Weeks

Localbitcoins trade between Indonesian rupiah (IDR) and BTC has surged in recent weeks, with the week of Feb. 23 comprising the second strongest on record, with 130 BTC or 6.5 billion IDR of trade taking place.

P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week

The week follows a fortnight of unusually strong volume for the Indonesian P2P markets, with a record 262 BTC worth of trade taking place during the week of Feb. 16, comprising a 150% gain over the previous seven days. The then all-time high of 102 BTC posted for the week of Feb. 9 had comprised a more than 920% gain over the week of Feb. 2.

P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week

South American Localbitcoins Markets Rally

The Latin American P2P markets have also seen significant action this past week, with trade between the Dominican peso (DOP) and BTC posting its second strongest week on record when measured in cryptocurrency, with 34 BTC changing hands. This past week also comprised the seventh strongest on record when measured in fiat currency with nearly 6.64 million DOP (roughly $ 131,000) worth of trade.

P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week

Venezuela posted a new record for weekly Localbitcoins trade when measured in fiat currency, with 24.42 billion Venezuelan bolivares (VES) in trade activity. The week also comprised the fourth strongest on record when measured in cryptocurrency, with approximately 1,960 BTC having been traded.

P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week

Colombia posted its third strongest week on record when measured in both fiat currency and cryptocurrency, with 707 BTC or 7.9 billion Colombian peso (COP) changing hands in seven days.

P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week

Do you think the P2P markets will continue to produce strength throughout March? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post P2P Markets Report: Iranian Localbitcoins Volume Gains 190% in a Week appeared first on Bitcoin News.

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