Bitcoin 

Bakkt’s Bitcoin Futures Trading Volume Soars 796% in One Day: Report

The trading volume of Bitcoin (BTC) futures on the Intercontinental Exchange’s (ICE) Bakkt platform reportedly soared to 224 contracts on Oct. 9 — 796% higher than the previous day. According to the tracking data compiled by Twitter account Bakkt Volume Bot (@BakktBot) — which is not affiliated with Bakkt but rather with Dutch journalist and cryptocurrency author Gert-Jan Lasterie — the 224 contracts represent an apparent all-time-high for the platform. A turnaround after tepid launch? Graph showing reported increase in daily traded volume for Bakkt Bitcoin Monthly Futures. Source: @BakktBot…

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Ethereum 

Binance Launches P2P Trading for Chinese Yuan

Major cryptocurrency exchange Binance has launched peer-to-peer trading for Bitcoin (BTC), Ether (ETH) and Tether (USDT) against the Chinese Yuan (CNY). In an announcement published on Oct. 9, the exchange revealed that the service will be initially available to Android users who already have Binance accounts registered for at least 30 days. The exchange states that users should update their Binance Android app to the latest version in order to gain access to the new service and that it will slowly roll out support for iOS and web interface going…

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Bitcoin 

Key Trading Indicator Suggests Bitcoin Bulls are Steadily Accumulating

Bitcoin (BTC) closed the week with a selloff, pushing price below the $8k handle and printing a close down 2.5% for the week as a whole. Despite an ominous close to the bottom of the trading range, Bitcoin has rebounded higher this morning alongside other cryptocurrencies, with notable gainers XRP and Link breaking 10% gains for the day.  With that in mind and with Bitcoin sat at a crossroads, we will take a closer look at the key timeframes to try and determine if Bitcoin is nearing a bottom.   Daily…

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Blockchain 

Vanguard Group Tests Blockchain Platform for Trading Currencies

The Vanguard Group is testing a blockchain-powered platform that will allow asset managers to trade currencies while avoiding the big investment banks. On Oct. 3, Bloomberg reported that the United States-registered investment advisor group, Vanguard, is going after a piece of the global currency market that handles $6 trillion each day and is dominated by firms such as JPMorgan Chase and Deutsche Bank AG. A source familiar with the matter said that the newly tested blockchain platform has been operational for over two months while handling several trades already.  By…

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Bitcoin 

Markets Trading Flat After Fake Breakout, Bitcoin Hovers Around $8,300

Wednesday, Oct. 2 — After a fake breakout, where Bitcoin (BTC) jumped upwards from a seven-day low of $7,746 to $8,480 from Sept. 29–Oct. 1, BTC slowly retraced to its current price level. Cryptocurrency market daily overview. Source: Coin360 One week since Bitcoin suffered from double-digit losses, the coin is back to trading sideways, at a similar price point as seven days ago. The most popular crypto coin was showing bullish price behavior over the last 48 hours, which proved to be unsustainable, most likely due to the lack of high…

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Bitcoin 

Global Wash Trading on Crypto Markets Down by Over 35%, BTI Reports

Global wash trading on cryptocurrency markets was down by over 35% in September, according to the latest surveillance report from the Blockchain Transparency Institute (BTI). Kraken, Poloniex, Coinbase and Upbit are still the “cleanest” platforms Per the report, global wash trading was reduced by 35.7% among the exchanges on the Institute’s top-40 listings. BTI’s data indicates that the “cleanest” platforms continue to be Kraken, Poloniex, Coinbase and Upbit. At the other extreme, OKEx and Bibox appear to have the highest percentage of wash trading among the top 40. While the…

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Bitcoin 

Are Trading Vehicles Dragging Crypto Into Maturity?

Just a decade ago, speculating on cryptocurrency prices meant figuring out a way to buy Bitcoin (BTC) and add it to your blockchain wallet. This was a feat that was worthy of bragging rights: In 2010, there were few exchanges, low liquidity and barely any infrastructure, meaning that crypto was less a financial instrument and more a digital novelty.  Larger centralized exchanges unlocked the idea that Bitcoin and other cryptocurrencies have relative value and made it possible to speculate on their value versus fiat currency. Since then, a slow proliferation of a…

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Blockchain 

Bittrex Announces New Trading Platform Based in Liechtenstein

Cryptocurrency trading platform Bittrex has announced Bittrex Global, a new platform headquartered in Liechtenstein. Per a press release shared with Cointelegraph on Sept. 30, Bittrex is expecting to roll out Bittrex Global at the end of October in the city of Vaduz, Liechtenstein. A fundamental reason for Bittrex’s choice to set up a new trading platform in Liechtenstein is the country’s regulatory clarity toward digital currencies and blockchain technology. New products in accordance with European Union law Bittrex Global is planning to develop new features and products, including customer reward…

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Bitcoin 

Ripple Acquires Crypto Trading Firm to Expand Into Iceland

Ripple continues its run of acquisitions, announcing an expansion into Iceland with its acqui-hire of crypto trading firm Algrim in a blog post on Sept. 30. Ripple strengthens European presence The acquisition adds six engineers to Ripple’s ranks. This new team will play an integral role in its On-Demand Liquidity (ODL) program. Per the announcement, Iceland will now serve as one of the company’s engineering hubs, joining London as another European base. Amir Sarhangi, Ripple’s vice president of products, said: “This team hits the ground running as opposed to building…

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Blockchain 

Blockchain Adoption as a Cure for Cross-Border Trading

In August of 2019, both the United States and Thailand announced their plans to test blockchain applications for tracking and managing shipments. The U.S. Customs and Border Protection (CBP) is planning to test a blockchain application against their current system to determine how distributed ledger technology (DLT) can improve its existing processes. Thailand, on the other hand, plans to use IBM’s blockchain-based logistics platform Tradelens to improve customs processes such as data sharing. Originally developed in a joint venture between IBM and logistics giant Maersk, Tradelens seeks to streamline processes…

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