BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

CoinSpeaker

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

Tron will start distributing its BitTorrent Token in airdrops, to its TRX holders through the Binance Launchpad platform. The Tron Foundation plans to airdrop tokens for the next six years up to February 2025.

BitTorrent Token Airdrop Takes Off Today, Here’s What We Know About It

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Source: CoinSpeaker

Bitcoin Exchange Popularity Sees a New Trend, Diar in its Astonishing Report

Despite bear markets, crypto exchanges did enjoy success in 2018 making it as a record year. While 2019 is anticipated to bring fortunes back to cryptos, the exchanges have started the new year with some nervousness as the trading volumes have begun to collapse. While Binance’s Bitcoin/USD volumes slashed by around 40%, Gemini and Coinbase also have reported some sluggishness.
Is the popularity of crypto trading decreasing?
According to the recent report released by Diar research, Cryptocurrency exchanges have begun 2019 on a slumber note as trading volumes of nearly all major exchanges have hit new lows in January, which was something that was not seen since 2017. One of the first reason that comes to the mind for this drop-in volume is the lack of volatility so far this year, which has kept traders away, who enjoyed making quick bucks riding the huge price movements. If this continues, exchanges could soon hit a new plateau after coming from the record-breaking year of 2018.
While the plateauing of growth is seen across exchanges, Binance draws special attention where the trading volumes of the most popular Bitcoin/USD market saw a dip of by over 40% versus December-18, marking the worst period for Binance since its inception in 2017.
While Binance definitely seemed off-guard, Coinbase’s Bitcoin/USD markets also saw a drop-in volume tanking it below the May 2017 volumes. The same has been the case with Winklevoss promoted Gemini exchange whose trading volumes have been pretty stagnant over past 2 months and OKEx which has lost its 3-month growth streak in January 2019.

While the numbers look weak for January 2019, one has to keep in mind that these numbers are in following some stellar months for all the crypto exchanges. Volumes on Binance’s Bitcoin dollar-pegged markets accounts for the year of 2018, were just shy of 50% of the total on the largest exchange. Same was the story for other exchanges as well, Coinbase BTC/USD markets accounted for 46%, slightly down from 2017 when it stood at 48%. Combined with Ethereum markets, however, the two majors accounted for 75% of total trades two years straight. US Dollar markets hit over $83Bn in trading volume for Coinbase last year, up from $67Bn in 2017.
While the growth in volumes looks slightly off the radar this month, the numbers are still big enough to conclude that there is any kind of sluggishness in the market. Drop in volumes could also be an indicator that people are not just trading cryptos for some quick bucks and are turning investors and holding their assets for long term appreciation.
Why do you think are these crypto trading volumes falling? Do let us know your views on the same.
The post Bitcoin Exchange Popularity Sees a New Trend, Diar in its Astonishing Report appeared first on Coingape.
Source: CoinGape

Crypto Exchange Volumes Drop to Lowest Levels For Over a Year

As the crypto winter deepens with no sign of a recovery on the horizon contractions have been occurring across the industry. The two notable signs at the moment are shrinking exchange volumes and a drop in crypto related Twitter activity.
Trade volumes across all of the major crypto exchanges have plummeted back to levels not seen since 2017. According to research by Diar, exchanges could be set to enter a new plateau as volatility dwindles and markets cool off. So far 2019 has been particularly quiet has crypto markets pulled back in January.
The research added that Binance, the world’s top exchange by reported volume, has seen its worst period for well over a year as the Bitcoin/USD market has been slashed 40% since December 2018. According to Coinmarketcap.com Binance volume is currently at $640 million which is way down from the billions traded on the exchange this time last year.
Binance is not the only exchange to suffer. Coinbase has also recorded its lowest month since May 2017 as trade volume plunge amid a deepening bear market. OKEx is another one that has lost out with the reversal of a three month growth trend as volumes shrink. Gemini has shown a similar pattern to Coinbase as the declines are extended.

There have been several reports last year of fake volumes on some of the major crypto exchanges but there is no denying that figures have shrunk across the board over the past year.
Twitter Activity in Decline
In addition to the drastic drop in exchange volumes has been a decline in crypto related activity on Twitter, which has become the standard social media platform for the industry. Prominent crypto analyst Murad Mahmudov has observed that Bitcoin related tweets have dropped to levels back in 2014. He added that this was an extremely bearish sentiment which backs up claims that the crypto winter is far from over.

1/ This screams bearish.Tweets about Bitcoin at the same level as 2014 and lower than at any point in 2016, like nothing has changed.
That is an absolute disaster for the price in the medium-term in my opinion. pic.twitter.com/DTdsUepx1t
— Murad Mahmudov (@MustStopMurad) February 3, 2019

Murad has made a number of price predictions with the most recent seeing a dip to $1,700 for Bitcoin by the middle of the year. This would provide a key level to accumulate and a trend reversal has been predicted for the latter half of 2019 when the bear market final comes to an end.
The decline in Twitter activity and exchange volumes are unsurprising considering that markets have collapsed by over 80% over the past 12 months.
Image from Shutterstock
The post Crypto Exchange Volumes Drop to Lowest Levels For Over a Year appeared first on NewsBTC.
Source: New feedNewsBTC.com

Diar Research Puts Question On Binance’s, OKex and Bithumb’s move towards DEX

While decentralized exchanges (DEX) were considered to the future of cryptocurrency exchanges, they somehow seem to have lost their charm. According to the recent report from Diar, decentralized exchanges have now hit an all-time low in terms of US dollar traded value, as well as Ether transaction on-chain. 
Are Decentralized Exchanges Just A Fad or Do They Have A Future?
According to the data presented by  Diar Research in its latest report, it looks like DEX’s have hit a roadblock. The data put forward shows that as on June 2017, when DEX first began appearing online, a total of $8.9Bn was been traded on-chain. But that figure dipped last year to just pipping over $7.1Bn. While the dipping from 2017- 2018 was still minuscule the first month of January has only been able to volumes of $49Mn for the month of January – to-date, an all-time new low for DEX’s
Source: Diar Report
To give a comparative perspective, these reported volumes for January 2019, as less than a tenth of what the largest centralized exchange Binance trades, alone, on a daily basis.  At this run rate, DEX’s will be able to garner around USD 600 million of on-chain volumes which would be a significant dip from last year.
It’s not just volumes in dollar terms, the other metrics such as  Ether transaction on-chain and unique addresses have also hit a new low. To quote from the report
“In terms of Ether, this month is a mere third of what was traded on Ethereum DEXs in January 2018. At the peak, over 2.3Mn ETH was traded in May 2018 – now down to 400K.”

Have Binance, OKEx and Bithumb got their strategies wrong?
Considering the demand and the hype built around the future of DEX’s a lot of centralized exchanges had announced their plans to enter the space. To name a few, Binance had already shown a short demo of their platform. OKEx’s Open Ledger DEX is already launched, as has Bithumb’s DEX. Coinbase too, last year purchased Paradex with the same vision of a decentralized exchange holding keys to the future. But none seem to have been able to get customers of their respective DEX’s despite the fascinating model of low or no fees.
And now with further tightening of the situation, there is further speculation that DEX’s may just find it too difficult to pick up. While a lot of crypto prodigies on the street have spoken in favor of DEX’s maybe they need some more time to flourish.
Will DEX pick up or would they fade out? Do let us know your views on the same.
The post Diar Research Puts Question On Binance’s, OKex and Bithumb’s move towards DEX appeared first on Coingape.
Source: CoinGape

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

While that the cryptocurrency industry is going through a very rough phase, here are the five events expected to set the growth trajectory of the crypto market in 2019.

Top 5 Crypto and Blockchain Events We’re All Waiting for in 2019

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Source: CoinSpeaker

OKEx Exchange Hits OTC Trading for Thailand and UK Users

Announced on Jan 23, 2019, OKEx, one of the largest cryptocurrency exchange with present total market cap $494,011,680 is rolling out OTC trading specifically for UK and Thai users.
OKEx launches OTC Trading
Today’s hottest bulletins of OKEx adding two new currencies on its Over-the-counter (OTC) trading platform are exciting the million people across UK and Thailand. According to the official release, all users in both regions can be eligible to trade on OKEx’s OTC trading platform following the completion of KYC verification.  With the launch announcement, the exchange also revealed the bonus of up to 50 USDT for users in UK and Thailand

Celebrate the launch of Thai Baht (THB) & British Pound (GBP) OTC markets with us.
Join OKEx today to get a welcome bonus of up to 50 USDT!
Details: https://t.co/zu0M4P4Isc
•UK & Thai users exclusive pic.twitter.com/wjvq6ZSIUY
— OKEx (@OKEx) January 23, 2019

OTC trading platform or fiat to cryptocurrency platform enables users to place orders with their specified payment method. Further, it allows them to proceed the order with the self-selected exchange rate to trade cryptocurrencies with fiat currencies. Via OKEx’s OTC trading platform, Thai and UK users can trade Thai baht (THB) and British Pound (GBP) in against cryptocurrencies including BTC, USDT, ETC, and LTC. Besides fiat to crypto, users can also trade Vietnamese Dong (VND) and Chinese Renminbi (CNY) on its OTC trading platform.
The announcement reads that the launch with limited currencies is just a start, OKEx will add more currencies in later this year. Further, it is worth to note that the Malta-based exchange is growing at a rapid pace, it stands on the second spot on the crypto exchange ranking graph of Coinmarketcap. The listing of GBP and THB to its OTC trading is followed by OKEx’s derivative market launch. The perpetual swap of OKEx is now enabled in seven different cryptocurrencies besides BTC – these include BCH, BSV, EOS, ETC, ETH, LTC, and XRP.
Andy Cheung, OKEx’s Head of Operations discusses the potential of Thailand and the UK for cryptocurrency space. The press notes that;
“Our mission is simple at OKEx. We aim to offer flexibility and convenience to our traders. Thailand and the UK own the fastest growing crypto communities in the world. We see great potential in these two markets and want to support the needs there. Because of the increasing trading volume and the number of traders in these two countries, we decided to launch the new THB and GBP trading services on our OTC trading platform. Wherever the market potential locates, we will expand there. In 2019, you can expect more currencies will be supported on OKEx,”
What do you think about OKEx’s launch of OTC trading for two new fiats? Let us know.
The post OKEx Exchange Hits OTC Trading for Thailand and UK Users appeared first on Coingape.
Source: CoinGape

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

CoinSpeaker

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

The BTT airdrop program is set to start on February 11, 2019, and will continue until 2025, with allocations dispersed yearly. It has already received support from Binance, OKEx, Huobi, and other exchanges.

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

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Source: CoinSpeaker

Bitcoin Transactional Volume Crossed $3 Trillion in 2018: Research

The transactional volume of Bitcoin, the world’s leading decentralized digital currency, exceeded $3 trillion in 2018, researchers found.
According to Satoshi Capital Research (SCR), the Bitcoin network experienced $2.2 trillion worth of trading volume. At the same time, it recorded $3.2 trillion in Layer One transactional volume, down 8.3% than the amount in 2017. However, the median change in Bitcoin trading volume since 2009 was positive, rising at an average rate of 2.91% every year.
The New York firm compared Bitcoin’s trading volume with the volume of fiat currencies of emerging economies. It noted that people traded the digital money more than Argentinian Pesos and Bulgarian Lev. At $2.2 trillion, Bitcoin was beaten only by Chilean Peso, Israeli Shekel, and Thai Baht, whose trading volumes were $4.38 trillion, $5.11 trillion and $6.57 trillion, respectively, in 2018.
Source: SCR
“This solidifies [Bitcoin’s] position as a serious global currency, ranking just under the Chilean Peso and more than 6x the Bulgarian Lev,” wrote SCR.
Fake Volumes
The researchers studied graphs provided by CoinMarketCap.com, a renowned crypto data aggregator service which arranges trading data from the order books of multiple crypto exchanges. Several of these exchanges are unregulated so it increases the probability of wash trading, whereby a trading service simultaneously buys and sells an asset to manipulate its value.
According to Blockchain Transparency Institute (BTI), an independent blockchain research group, the volume of top pairs that CoinMarketCap.com sources from exchanges are fake. Trading companies like OKEx, Huobi, and BitHumb have allegedly reported wrong trading volumes of their Bitcoin-related pairs.
“We have calculated the true volume of the CMC top 25 BTC trading pairs,” read BTI. Most of these pairs actual volume is under 1% of their reported volume on CMC. We noted only 2 out of the top 25 pairs not to grossly wash trading their volume, Binance, and Bitfinex.”
OTC Trading
Also, SCR didn’t discuss how a considerable portion of trading volumes does not appear on exchanges’ order books. People with a high number of Bitcoin units exchange them over-the-counter, in a process called OTC trading. Just recently, Goldman Sachs-backed Circle alone posted $24 billion worth of OTC trading volume in 2018 at its exchange. It proved that how big investors use offline services to conduct bitcoin trades – they lie anywhere between $50,o00 and the hundreds and millions of dollars.
Reuters reported that crypto company Genesis Trading handled $75 million to 85 million worth of trading volume every day, which didn’t make to the CoinMarketCap index.
Meanwhile, Tabb Group, a UK-based marketing research firm, in its April 2018 study, said that the OTC market could be 2-3 times bigger than the online exchange market.
“The big deals have to go OTC. A lot of the exchanges limit the order size, so you have to break up your orders, and that’s just fatal,” said Monica Summerville, Tabb’s director of fintech research.
The post Bitcoin Transactional Volume Crossed $3 Trillion in 2018: Research appeared first on NewsBTC.
Source: New feedNewsBTC.com

Tron [TRX] and its affiliates added to popular exchanges as market roller coaster continues

Tron [TRX]’s surge in the new year has created ripples in the cryptocurrency world with several updates and developments coming out of the Tron Foundation’s stables. The announcements have generally come in from the Foundation’s Chief Executive Officer, Justin Sun. The Tron official has been instrumental in propagating the cryptocurrency, a role that he has carried forward in his latest reveal too.
On January 15, Justin Sun announced that Tron had partnered with ABCC, making the cryptocurrency exchange the first platform to list TRX10 tokens. He had tweeted:
“ABCC Exchange is truly an awesome platform that has witnessed great development. We are glad to partner with #ABCC as it’s the first exchange listing #TRX10 tokens. #TRON #TRX $TRX”
The exchange itself had tweeted about it, leading many users to connect the price rise to the development. ABCC Exchange had said:
“We are excited to announce our partnership with @Tronfoundation ahead of #niTROn2019! @Justinsuntron #ABCC is the 1st exchange that will list #TRX 10 tokens – We are one of the top exchanges with great security and user interface. Stay tuned!#Blockchain mass adoption is coming”
Tron received another boost when the token was listed on OKCoin, a move considered to push the Juin Sun led cryptocurrency into the mainstream realm. OKCoin’s press release stated:
“We are pleased to announce that TRX is now listed on the OKCoin exchange. Starting today, authorized OKCoin customers can acquire TRX by depositing US dollars or Argentine pesos, and starting on January 17th they’ll be able to trade TRX against USD, BTC, and ETH.”
Justin Sun’s presence in the cryptoverse was made even more apparent when he debunked accusations concerning TRC10 BitTorrent token [BTT]. Sun had rebutted against the former BitTorrent CSO had said that the Tron CEO was not technically sound when it came to cryptocurrencies. As a reply Sun stated:
“The BitTorrent token project recently became the subject of an article about whether TRON provides the necessary processing capacity to handle the thousands of transactions per second required to make tokenizing BitTorrent work.”
He further added:
“BitTorrent parted ways with the former employee quoted in the article upon the early July completion of the acquisition. Since then, our BitTorrent engineering team has been joining their peer-to-peer expertise with TRON’s blockchain team on our shared vision of remaking the internet.”
The post Tron [TRX] and its affiliates added to popular exchanges as market roller coaster continues appeared first on AMBCrypto.
Source: AMB Crypto

Upcoming Ethereum Constantinople Hard Fork Already Backed by 19 Exchanges Worldwide

CoinSpeaker

Upcoming Ethereum Constantinople Hard Fork Already Backed by 19 Exchanges Worldwide

Ethereum is preparing for its next milestone – Constantinople hard fork. The launch is planned in four stages: Frontier (beta stage to develop and test dapps), Homestead (to stabilize the platform), Metropolis (ongoing) and Serenity (upcoming).

Upcoming Ethereum Constantinople Hard Fork Already Backed by 19 Exchanges Worldwide

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Source: CoinSpeaker

OKEx Launches Perpetual Swaps For ETC and LTC

As crypto markets are maturing, the products delivered by exchanges for traders and investors are also becoming more sophisticated and exotic. One such product is the Perpetual Swap and, OKEx has recently started providing it to its customers. While it’s over a month since the exchange started with perpetual swaps, it has recently added ETC and LTC perpetual contracts.
Perpetual swap to provide 40x leverage to traders trading LTC and ETC
According to the latest announcement issued by OKEx, the Malta-based cryptocurrency exchange has added perpetual swaps for Ethereum Classic (ETC) and Litecoin (LTC). The swaps were available for trade from 11:00 am Jan 2, 2019 (CET, UTC+1).
The specification of this new derivative is as follows:
Ethereum Classic

Contract Face Value- USD 10
Minimum Price Interval- 0.001 point
Leverage- 1-40x
Funding Fee and Settlement- Once every 12 hours at 3 am and 3 pm (CET, UTC+1)
Funding Rate- Clamp (MA (best buys+ best sell)/2- spot index/spot index price- interest),+0. 2,0/2 %)

Litecoin

Contract Face Value- USD 10
Minimum Price Interval- 0.01 point
Leverage- 1-40x
Funding Fee and Settlement- Once every 12 hours at 3 am and 3 pm (CET, UTC+1)
Funding Rate- Clamp (MA (best buys+ best sell)/2- spot index/spot index price- interest),+0. 2,0/2 %)

The constituents for both these products are;
Ethereum Classic

Exchange
Trading Pair
Weight

GDAX
ETC/USD
25%

Binance
ETC/BTC
25%

OKEx
ETC/BTC
25%

Kraken
ETC/USD
25%

 
Litecoin

Exchange
Trading Pair
Weight

GDAX
LTC/USD
25%

Binance
LTC/BTC
25%

Bitstamp
LTC/USD
25%

Kraken
LTC/USD
25%

 
The exchange is already providing perpetual swaps for EOS, ETH, BCH, BSV, and XRP and has now ETC and LTC
Perpetual swap is a game played by experienced and matured traders and, providing a variety of perpetual swaps will definitely attract new eyeballs to OKEx. This will also boost the volumes on the exchange for said coins.
Will OKEx be able to pull inexperienced traders to itself by way of perpetual swaps? Do let us know your views on the same.
The post OKEx Launches Perpetual Swaps For ETC and LTC appeared first on Coingape.
Source: CoinGape

Binance Elected as Most Trusted Crypto Exchange

CoinSpeaker

Binance Elected as Most Trusted Crypto Exchange

The CEO of FX hedge fund Three Arrows Capital, Su Zhu, has said that Binance, the largest crypto exchange in the global market, is the most trusted among investors within the digital asset community.

Binance Elected as Most Trusted Crypto Exchange

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Source: CoinSpeaker

Coinbase Aggressively Expanding, High Hopes For Crypto in 2019

Crypto exchanges do not get much bigger than Coinbase which has grown at a phenomenal rate over the past couple of years. The firm has not been deterred one bit by this year’s crypto rout and continues to aggressively expand into new markets and with new products.
No Slowing Down into 2019
On Thursday the company said it had expanded into several new countries according to CNBC. Many of them are in Europe and recent new markets for the crypto firm include Iceland, Lithuania, Andorra, Gibraltar, Guernsey and the Isle of Man. Coinbase recently opened an office in Dublin amid fears of a negative outcome from Brexit negotiations.
A number of these new destinations are pitching themselves as blockchain and crypto friendly for new startups to launch their products. Malta and Switzerland are already at the top of the crypto tree and Gibraltar is aiming to catch up with its domestic licensing process for blockchain technology firms. UK CEO of Coinbase, Zeeshan Feroz, said;
“I think you can expect a more aggressive approach to us adding more countries in the coming months. Much of what we’re doing here is driven by customer needs and what we’re seeing in the market,” before adding “I think if you look at last year, a lot of the focus was on people who bought crypto from an investment point of view and a lot of projects raised a ludicrous amount of money as a result of that,”
The expansion plans come right in the middle of a yearlong crypto rout which has seen markets tumble by over 80%, so Coinbase at least is clearly not worried.
New Products and Incentives
In addition to seeking new crypto friendly locations, Coinbase has also expanded its product line. The most recent offering has been a long awaited crypto-to-crypto trading option that most other exchanges already employ. Coinbase has been known for having some of the highest fees in the industry and these are amplified by inflated foreign exchange rates when dealing with fiat currencies. Direct crypto trading will not incur those fees, but there will be a spread between the two assets.
In another initiative to get more people into crypto, Coinbase has offered to pay them to watch videos and take quizzes according to Fortune. This particular offering will be using the recently added ZRX token as the project had set aside 1.6 million of them to give away to Coinbase users.
It is clear that there is no slowing down for the big exchanges. Coinbase is not alone with its expansion ambitions as Binance, Huobi and OKEx have also branched out into new markets and with new products. Big things are anticipated in 2019 for cryptocurrencies and the big boys are gearing up for it.
 
Image from Shutterstock
The post Coinbase Aggressively Expanding, High Hopes For Crypto in 2019 appeared first on NewsBTC.
Source: New feedNewsBTC.com

OKEx Exchange Starts With No-Expiry Bitcoin Derivative Product

CoinSpeaker

OKEx Exchange Starts With No-Expiry Bitcoin Derivative Product

The second-largest cryptocurrency exchange, OKEx has created a Bitcoin derivative product called “perpetual swap”. However, there’s no expiry date. The lack of expiry data allows positions to be held on an ongoing basis.

OKEx Exchange Starts With No-Expiry Bitcoin Derivative Product

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Source: CoinSpeaker

Only 2 out of 25 Top Crypto Exchanges Report Their True Trading Volumes: Report

CoinSpeaker

Only 2 out of 25 Top Crypto Exchanges Report Their True Trading Volumes: Report

The Blockchain Transparency Institute confirms the long-anticipated fears that most exchanges engage in wash trading. Their December report clears on Binance and Bitfinex only.

Only 2 out of 25 Top Crypto Exchanges Report Their True Trading Volumes: Report

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Source: CoinSpeaker